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EV vs Gas Total Cost of Ownership Calculator

Compare an electric car with a gas car over 7 years on your state's electricity and gas prices, your utility's EV rate, depreciation and battery wear.

Updated · By Niraj Kumar · 6 sources

The cars

$

Standard RWD 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 $7,781The EV does not catch up within 7 years

The Tesla Model Y costs 9.9¢ a mile to charge, against 14.1¢ a mile in gas for the Toyota RAV4.

Tesla Model Y, total cost
$62,410
74.3¢ 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 296 of 321 miles of range
CO₂ avoided
8.5 tonnes
at the US grid average
Cost of ownership if sold at the end of each yearTesla Model YToyota RAV4
$0$20 K$40 K$60 K$80 K$62.41 K$54.63 K1234567
Cash saved by choosing the EV, before resaleStill to recoverAhead
$-12.5 K$-10 K$-7.5 K$-5 K$-2.5 K$001234567
Where the money goes over 7 years
CostTesla Model YToyota RAV4
Purchase less resale$30,705$19,469
Charging or gas$9,018$12,550
Maintenance$5,040$7,560
Insurance$16,800$15,050
EV registration fees$847$0
Total$62,410$54,629
Year-by-year costs and battery healthShow
YearChargingGasBatteryRangeEV cost to dateGas car cost to date
1$1,182$1,68898%313 mi$18,332$12,584
2$1,219$1,72296%310 mi$27,591$20,407
3$1,253$1,75695%306 mi$35,684$27,626
4$1,288$1,79295%304 mi$43,012$34,562
5$1,323$1,82794%301 mi$49,575$41,214
6$1,359$1,86493%298 mi$56,174$47,903
7$1,395$1,90192%296 mi$62,410$54,629

How the EV vs Gas Total Cost of Ownership Calculator works

An EV usually costs far less per mile to fuel than a gas car, but whether it is cheaper to own depends on the price gap, how fast it depreciates and what you pay for electricity. Charging overnight on a utility EV plan can cut the energy cost by a third or more.

Each car's cost of ownership is what you pay to buy it, plus every year's running costs, less what it sells for at the end. EV energy is miles × kWh per mile × your blended price per kWh, mixing home charging (at your utility's off-peak rate if you are on an EV plan) with public fast charging. Gas is miles ÷ mpg × the pump price. Both rise each year by the escalation you set. Battery capacity fades with the square root of time plus a little per mile, which trims range and resale value.

TCO = Price × (1 + tax) − rebates + charger + Σ₍y₎ [energy₍y₎ + maintenance + insurance + fees] + interest − resale₍N₎
energy₍y₎
Charging or fuel cost in year y, after price rises
C₍y₎
Battery capacity: 1 − fade × √years − 3% per 100,000 miles
resale₍N₎
Estimated value after N years, adjusted for battery health
interest
Loan interest paid during the period, if financed

Worked example

A Tesla Model Y Standard RWD ($39,990) 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 27 kWh/100 mi the Tesla Model Y costs 9.9¢ a mile; at 44 mpg and $6.19 a gallon the Toyota RAV4 costs 14.1¢ a mile
  3. 3Buying costs $45,101 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 $14,396 and $15,312

Over 7 years the Tesla Model Y costs $62,410 to own and the Toyota RAV4 $54,629, so the gas car comes out $7,781 cheaper at these assumptions.

Frequently asked questions

Why can an EV cost less per mile but more to own?

Energy is only one line of the bill. Without the federal credit, most EVs cost more to buy than a comparable hybrid, and they have tended to lose value faster. The calculator shows both: the payback year, when running savings repay the higher price in cash, and the total cost of ownership, which also counts what each car would sell for.

Is there still a federal EV tax credit in 2026?

No. The $7,500 new clean vehicle credit and the used EV credit ended for vehicles acquired after 30 September 2025. Some states and utilities still offer rebates, which you can enter in the calculator; the AFDC keeps a list by state.

How much does time-of-use charging save?

Most of an EV's energy can be scheduled overnight, so a plan with a cheap window cuts the price of every home-charged mile. In California, for example, SDG&E's EV-TOU-5 charges 13.1¢ a kWh overnight against a state average above 33¢. The calculator shows the saving against your state's average rate. See the cost per mile calculator for just the fuel side.

How fast do EV batteries lose capacity?

Studies of large fleets find modern packs lose about 1.5-2% a year on average, fastest in the first years and then levelling off. After seven years a typical EV keeps around 90% of its range. The calculator models this and lets you try a faster rate, including the cost of a replacement pack if capacity falls below 70%.

Is the Tesla Model Y cheaper to own than the Toyota RAV4?

At California prices and 12,000 miles a year, the Tesla Model Y costs about 9.9¢ a mile to charge and the Toyota RAV4 14.1¢ a mile in gas; its running savings do not repay the higher price within 7 years. Counting depreciation, the Toyota RAV4 comes out about $7,781 cheaper to own over 7 years. Cheaper home electricity, more miles, a rebate or a lower price than list all move the result, so try your own figures.

Is the Tesla Model 3 cheaper to own than the Toyota Camry?

At California prices and 12,000 miles a year, the Tesla Model 3 costs about 9.1¢ a mile to charge and the Toyota Camry 12.1¢ a mile in gas; its running savings do not repay the higher price within 7 years. Counting depreciation, the Toyota Camry comes out about $7,319 cheaper to own over 7 years. Cheaper home electricity, more miles, a rebate or a lower price than list all move the result, so try your own figures.

Is the Chevrolet Equinox EV cheaper to own than the Toyota RAV4?

At California prices and 12,000 miles a year, the Chevrolet Equinox EV costs about 11.3¢ a mile to charge and the Toyota RAV4 14.1¢ a mile in gas; its running savings do not repay the higher price within 7 years. Counting depreciation, the Toyota RAV4 comes out about $6,519 cheaper to own over 7 years. Cheaper home electricity, more miles, a rebate or a lower price than list all move the result, so try your own figures.

Is the Chevrolet Bolt cheaper to own than the Honda Civic?

At California prices and 12,000 miles a year, the Chevrolet Bolt costs about 10.2¢ a mile to charge and the Honda Civic 18.2¢ a mile in gas; its running savings repay the higher price in about 6.4 years. Counting depreciation, the Honda Civic comes out about $1,661 cheaper to own over 7 years. Cheaper home electricity, more miles, a rebate or a lower price than list all move the result, so try your own figures.

Is the Hyundai Ioniq 5 cheaper to own than the Honda CR-V?

At California prices and 12,000 miles a year, the Hyundai Ioniq 5 costs about 10.6¢ a mile to charge and the Honda CR-V 15.5¢ a mile in gas; its running savings repay the higher price in about 3.4 years. Counting depreciation, the Honda CR-V comes out about $3,339 cheaper to own over 7 years. Cheaper home electricity, more miles, a rebate or a lower price than list all move the result, so try your own figures.

Is the Kia EV9 cheaper to own than the Ford Explorer?

At California prices and 12,000 miles a year, the Kia EV9 costs about 15.0¢ a mile to charge and the Ford Explorer 26.9¢ a mile in gas; its running savings do not repay the higher price within 7 years. Counting depreciation, the Ford Explorer comes out about $4,808 cheaper to own over 7 years. Cheaper home electricity, more miles, a rebate or a lower price than list all move the result, so try your own figures.

Is the Nissan Leaf cheaper to own than the Honda Civic?

At California prices and 12,000 miles a year, the Nissan Leaf costs about 9.5¢ a mile to charge and the Honda Civic 18.2¢ a mile in gas; its running savings repay the higher price in about 6.8 years. Counting depreciation, the Honda Civic comes out about $1,750 cheaper to own over 7 years. Cheaper home electricity, more miles, a rebate or a lower price than list all move the result, so try your own figures.

Sources

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