Fuel prices keep rising. But is an electric vehicle actually cheaper to run than your current car? Enter your real numbers below and find out in seconds — no guesswork.
What’s not included in this calculation?
This calculator covers fuel costs only. EVs also benefit from lower maintenance costs (no oil changes, fewer brake replacements) typically saving $500–$900/year extra. Purchase price difference and available tax incentives are not factored in — check your local government website for current EV rebates.
Tips to reduce EV charging costs
Charge overnight on an off-peak tariff, install a Level 2 home charger for faster and cheaper charging, and consider pairing your EV with rooftop solar for near-zero fuel costs.
Frequently Asked Questions — EV vs Gasoline Cost Calculator
Is an electric car really cheaper to run than a gas car?
In most U.S. states, yes — significantly cheaper. The average American drives about 15,000 miles per year. A gas car averaging 30 MPG at $3.50/gallon costs roughly $1,750/year in fuel. The equivalent EV driven on the national average electricity rate (13¢/kWh) at 3.5 miles/kWh costs about $570/year — a savings of over $1,100 annually. In states with cheap electricity like Washington or Idaho, savings exceed $1,400/year.
How much does it cost to charge an electric car at home?
A full charge for a standard 60 kWh battery (e.g., Tesla Model 3) costs $7.80 at the U.S. average electricity rate of 13¢/kWh, giving you approximately 250 miles of range. That works out to just 3.1 cents per mile. By comparison, a 30 MPG gas car costs about 11.7 cents per mile at $3.50/gallon — nearly 4 times more per mile. Installing a Level 2 home charger costs $500–$1,500 but can nearly double charging speed.
What about EV maintenance savings?
EV owners typically save $800–$1,200 per year on maintenance compared to gas vehicle owners. EVs require no oil changes, have fewer moving parts, use regenerative braking that reduces brake wear, and don’t need tune-ups. The main maintenance items are tire rotations ($80–$120/year), cabin air filter replacement ($25–$50 every 2 years), and eventual battery replacement (though most modern EV batteries last 10–15 years).
Do EV tax credits make electric cars more affordable?
The U.S. Inflation Reduction Act offers up to $7,500 in federal tax credits for new EVs and up to $4,000 for used EVs. Income limits apply ($150,000 for single filers for new EVs). Many states add their own incentives: California offers up to $7,000 additional, Colorado offers $5,000, and New York offers $2,000. Combined federal and state incentives can reduce the effective purchase price by $10,000–$14,000 in some states.
How long does it take to break even after buying an EV?
EVs typically cost $5,000–$10,000 more upfront than comparable gas vehicles (before incentives). With fuel savings of $1,000–$1,500/year and maintenance savings of $800–$1,200/year, total annual savings run $1,800–$2,700. This means the break-even point falls between 2 and 6 years, depending on the purchase price difference and your local fuel costs. After the break-even point, every mile driven adds pure savings.
Does driving style affect EV efficiency?
Yes, significantly. Aggressive acceleration, highway speeds above 70 mph, and cold weather all reduce EV range and efficiency by 20–40%. Conversely, smooth driving, pre-conditioning the battery while plugged in during winter, using eco mode, and taking advantage of regenerative braking can extend range by 15–25%. The calculator uses the EPA-rated efficiency figure, which reflects mixed driving conditions.
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