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Chevrolet Equinox EV vs Toyota RAV4 Cost of Ownership

Chevrolet Equinox EV or Toyota RAV4 Hybrid? Two similarly priced compact SUVs compared over 7 years on your own prices.

Updated · By Niraj Kumar · 6 sources

The cars

$

LT FWD starting price. Replace it with your quote.

$

Hybrid LE FWD, 44 mpg combined.

Where and how you charge

%
0%100%

The rest is public fast charging. Most owners with a driveway charge 80-90% at home.

¢/kWh

California residential average (EIA). Enter the all-in rate from your bill to override.

¢/kWh

Driving

years
1 yr10 yrs
$per gallon

California average for regular (AAA).

Fine-tune

%
0%10%
%
0%10%
%
0%8%

About 2% is typical; the loss slows after that. Hot climates and frequent fast charging push it up.

$

The federal credit ended for cars bought after 30 September 2025.

$

Set to 0 if you already have one or will use a standard outlet.

$
$

Assumed full coverage; replace both with quotes.

How you payHow you pay
Over 7 yearsGas saves $6,519The EV does not catch up within 7 years

The Chevrolet Equinox EV costs 11.3¢ a mile to charge, against 14.1¢ a mile in gas for the Toyota RAV4.

Chevrolet Equinox EV, total cost
$61,148
72.8¢ a mile, all in
Toyota RAV4, total cost
$54,629
65.0¢ a mile, all in
EV price premium repaid
Not in 7 yrs
from running savings, before resale
Battery at the end
92%
about 294 of 319 miles of range
CO₂ avoided
7.2 tonnes
at the US grid average
Cost of ownership if sold at the end of each yearChevrolet Equinox EVToyota RAV4
$0$20 K$40 K$60 K$80 K$61.15 K$54.63 K1234567
Cash saved by choosing the EV, before resaleStill to recoverAhead
$-5 K$-4 K$-3 K$-2 K$-1 K$001234567
Where the money goes over 7 years
CostChevrolet Equinox EVToyota RAV4
Purchase less resale$28,107$19,469
Charging or gas$10,354$12,550
Maintenance$5,040$7,560
Insurance$16,800$15,050
EV registration fees$847$0
Total$61,148$54,629
Year-by-year costs and battery healthShow
YearChargingGasBatteryRangeEV cost to dateGas car cost to date
1$1,357$1,68898%311 mi$19,057$12,584
2$1,399$1,72296%308 mi$27,897$20,407
3$1,439$1,75695%305 mi$35,376$27,626
4$1,478$1,79295%302 mi$42,195$34,562
5$1,519$1,82794%299 mi$48,705$41,214
6$1,560$1,86493%296 mi$54,905$47,903
7$1,602$1,90192%294 mi$61,148$54,629

How the Chevrolet Equinox EV vs Toyota RAV4 Cost of Ownership works

TCO = Price × (1 + tax) − rebates + charger + Σ₍y₎ [energy₍y₎ + maintenance + insurance + fees] + interest − resale₍N₎

This page uses the same method as the EV vs Gas Total Cost of Ownership Calculator, which explains each term and assumption in full.

Worked example

A Chevrolet Equinox EV LT FWD ($34,995) against a Toyota RAV4 Hybrid LE FWD ($31,900) in California, driven 12,000 miles a year for 7 years, paid in cash, charging 80% at home.

  1. 1Home electricity costs about 33.6¢ a kWh; with 20% fast charging at 48.0¢ the blend is 36.5¢
  2. 2At 31 kWh/100 mi the Chevrolet Equinox EV costs 11.3¢ a mile; at 44 mpg and $6.19 a gallon the Toyota RAV4 costs 14.1¢ a mile
  3. 3Buying costs $39,655 for the EV with tax and a home charger, against $34,781
  4. 4After 7 years the battery keeps about 92% of its capacity, and the cars would sell for about $11,548 and $15,312

Over 7 years the Chevrolet Equinox EV costs $61,148 to own and the Toyota RAV4 $54,629, so the gas car comes out $6,519 cheaper at these assumptions.

Frequently asked questions

Which is cheaper to buy, the Equinox EV or the RAV4 Hybrid?

The Equinox EV LT FWD starts at $34,995 and the RAV4 Hybrid LE at $31,900, about $3,100 apart before tax. The Equinox EV also needs a home charger to get the cheapest electricity, which the calculator adds at $1,500; set it to zero if you already have one.

How much more does the Chevrolet Equinox EV cost upfront than the Toyota RAV4?

Paid in cash in California, the Chevrolet Equinox EV LT FWD costs $39,655 on day one with sales tax and a home charger, against $34,781 for the Toyota RAV4 Hybrid LE FWD, $4,874 more. Charging then costs about $1,357 a year against $1,688 in gas at 12,000 miles, a difference of $331 a year before maintenance and insurance.

Sources

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