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EV Savings Calculator
Calculate exactly how much money you save by switching from a gas car to an electric vehicle (EV). Compare electricity vs gasoline fuel costs, maintenance savings, tax credits or rebates, and total 5-year ownership cost to find your EV break-even point.
Electric vehicles cost more upfront but significantly less to operate. The average EV driver saves $1,000-1,500 per year on fuel alone compared to a comparable gas vehicle. Add maintenance savings (no oil changes, fewer brake jobs due to regenerative braking) and any state incentives, and the total cost of EV ownership often beats gas cars over 3-5 years.
Comparing electric vehicles to gas cars requires looking at total cost of ownership (TCO) — not just the sticker price. EVs have higher purchase prices but lower fuel costs ($500-800/year vs $1,500-2,500/year), dramatically lower maintenance costs (no oil changes, fewer brake replacements), and, in some states, EV rebates.
Cost Category
EV
Gas Car
Difference
Fuel (annual)
$500-800
$1,500-2,500
$1,000-1,700 EV savings
Maintenance (annual)
$200-400
$700-1,200
$500-800 EV savings
Insurance (annual)
$1,500-2,500
$1,200-2,000
$0-500 more for EV
Federal Tax Credit
None (ended Sept 30, 2025)
None
State rebates may apply
Purchase Price
$5,000-15,000 more
Baseline
EV premium
5-Year TCO
$30,000-50,000
$35,000-55,000
EV often cheaper overall
EV Charging Costs
Home charging (Level 2): approximately $0.12-0.15 per kWh (average US electricity rate). An EV getting 3.5 miles/kWh costs: $0.14/3.5 = $0.04 per mile — 3× cheaper than a 35 MPG gas car at $3.50/gal ($0.10/mile). Public DC fast charging (Tesla Supercharger, Electrify America): $0.35-0.50/kWh — closer to gas costs but still typically cheaper.
Maintenance Savings with EVs
EVs eliminate: oil changes ($80-150 every 5,000-7,500 miles), transmission fluid, coolant flushes, spark plugs, timing belts, and significantly reduce brake wear (regenerative braking). EV owners average $400-600/year in maintenance vs $1,000-1,200 for gas cars. Over 10 years: $4,000-6,000 in maintenance savings alone.
Frequently Asked Questions
Average annual savings: Fuel: $1,000-1,500 (driving 15,000 miles). Maintenance: $500-800. Total: $1,500-2,300 per year. Over 5 years: $7,500-11,500 in operating savings. An EV costing $10,000 more than a comparable gas car breaks even once fuel and maintenance savings add up to $10,000: about 5-7 years at $1,500-2,000 a year.
At average US electricity rate of $0.14/kWh: a 75 kWh battery (full charge from empty) costs $10.50. Monthly charging cost at 1,250 miles/month and 3.5 miles/kWh: 1,250/3.5 = 357 kWh × $0.14 = $50/month. Compare to gas: 1,250 miles/25 MPG × $3.50 = $175/month. EV saves $125/month in fuel.
No. The federal clean vehicle credits (up to $7,500 for new EVs and $4,000 for used EVs) ended for vehicles acquired after September 30, 2025. Some states and utilities still offer EV rebates; enter any you qualify for in the Tax Credit / Rebate field.
An EV makes financial sense if: you drive 10,000+ miles/year (more savings), can charge at home (cheapest charging), qualify for state or utility incentives, the EV premium over comparable gas car is under $10,000, and you plan to keep the vehicle 5+ years. For low-mileage drivers or those who rely on public charging, the math is less compelling.
Modern EV batteries typically last 200,000-300,000 miles or 15-20 years before needing replacement. Most manufacturers warranty batteries for 8 years/100,000 miles (10 years/150,000 miles for some Tesla models). Battery degradation is typically 2-3% per year — a 10-year-old EV retains 70-80% of original battery capacity. This is far better than early EV generations.
At $0.14/kWh and 3.5 miles/kWh: EV costs $0.04/mile. Gas car at 30 MPG and $3.50/gal: $0.117/mile. EV is 65% cheaper per mile. At $0.40/kWh DC fast charging: EV costs $0.114/mile — nearly the same as gas. Home charging is the key to EV fuel savings; frequent public fast charging narrows the advantage significantly.