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Electric Vehicle Calculator

Enter vehicle prices, fuel costs, and driving habits to compare the total 5-year cost of an EV vs. a gas car.

Updated July 2026 · Editorial standards

Gas car savings vs EV over 8 years
$3,066
EV total cost
$48,566
Gas car total cost
$45,500
EV fuel / yr$446Gas fuel / yr$1,313Break-even11.5 yearsCO₂ saved68,161 lbs

Vehicle Comparison

$
$
$/gal
mi
yrs

Key figures

Gas car saves
$3,066
EV total cost
$48,566
Gas car total cost
$45,500
Break-even
11.5 years
Fuel savings / yr
$867

Over 8 years, EV fuel costs $446/yr vs $1,313/yr for gas. Total: EV = $48,566 vs gas = $45,500. Gas car saves $3,066.Break-even: 11.5 years. CO₂ saved over 8 years: 68,161 lbs vs average US gas car. Does not include maintenance savings (~$900/yr for EVs) or home charger installation.

Gas car saves
$3,066
By KalkWiseVerified against official sources Updated July 2026

What is the electric vehicle calculator — ev vs gas cost?

In short

EVs typically cost $5,000–$15,000 more upfront than comparable gas cars but save $1,000–$2,000/year in fuel costs. The federal EV tax credit (up to $7,500) ended for vehicles acquired after September 30, 2025 under OBBBA — break-even vs. gas took 3–7 years with the credit and takes longer without it. Over 10 years, total fuel savings often reach $10,000–$30,000.

Compares total cost of ownership between an electric vehicle and a gas car over your ownership period, including purchase price, tax credits, fuel costs, and break-even analysis.

How to use this calculator

  1. 1Enter EV purchase price and gas car purchase price.
  2. 2Enter any EV incentives — the federal credit (up to $7,500) ended for vehicles acquired after September 30, 2025 (OBBBA); enter $0 unless you bought before that date or have state/utility incentives.
  3. 3Enter electricity cost ($/kWh) and EV efficiency (miles per kWh, typically 3–4).
  4. 4Enter gas price ($/gallon) and gas car fuel economy (MPG).
  5. 5Enter annual miles driven and years of ownership.

The formula

EV total=(EV price−credit)+elec. cost×years
break-even=EV price−credit−gas priceannual fuel savings
EV Total = (EV Price − Credit) + F_ev × Years; ICE Total = ICE Price + F_ice × Years; Savings = ICE − EV
EV
— EV total cost
ICE
— Gas car total cost
F_ev
— Annual EV fuel cost
F_ice
— Annual gas fuel cost

Worked example

The scenario

$45K EV with $7,500 credit vs $35K gas car, 12,000 miles/year, $0.13/kWh, 3.5 mi/kWh, $3.50 gas, 32 MPG, 8 years.

gives

The result

EV fuel = $514/year. Gas fuel = $1,313/year. EV total = $41,612. Gas total = $45,504. EV saves $3,892 over 8 years.

Common use cases

  • Decide whether an EV makes financial sense for your driving habits.
  • Compare specific EV and gas car models total cost.
  • Evaluate the financial impact of home charging installation.
  • Factor in tax credits and incentives for your state.

Limitations & assumptions

  • Does not include maintenance costs (EVs typically cost $900/year less to maintain than gas cars).
  • Home charger installation ($500–$2,000) and potential higher insurance costs are not included.
  • Battery replacement (rare but $8K–$20K) not factored in.
  • Electricity and gas prices are volatile and will vary over your ownership period.

Frequently asked questions

No one for new purchases anymore — OBBBA (2025) terminated the federal EV credits for vehicles acquired after September 30, 2025. Before that deadline, new EVs qualified for up to $7,500 (income limits $150K single/$300K joint, MSRP caps $55K cars/$80K trucks) and used EVs up to $4,000. State and utility incentives may still apply — check your state's programs.

Disclaimer: KalkWise calculators are provided for general informational and educational purposes only and do not constitute financial, investment, tax, or legal advice. Results are estimates based on the figures you enter and the assumptions described above. Actual outcomes will vary. Consult a qualified professional before making financial decisions.