Gas vs. EV Comparison

Compare total ownership costs and see your potential savings

Estimated Annual Savings
$ 1,400
with EV in fuel and maintenance costs
Monthly Savings $117
Break-even 3.6 years
Gas Vehicle
Annual Fuel Cost $1,680
Annual Maintenance $1,200
Total Annual Cost $2,880
Electric Vehicle
Annual Electricity $680
Annual Maintenance $800
Total Annual Cost $1,480

Thinking of Switching to Electric?

Understanding the total cost of ownership (TCO) is key when comparing electric vehicles with traditional gas cars.

Operational Costs

Electricity is typically much cheaper than gasoline per mile, and EVs have fewer moving parts, leading to lower maintenance costs.

  • EVs don't need oil changes, spark plugs, or timing belts.
  • Regenerative braking reduces wear on brake pads.
  • Residential electricity rates are generally stable compared to gas prices.

The 'EV Premium'

While EVs often have a higher upfront sticker price, federal and state tax credits can significantly reduce this gap.

  • Check for the $7,500 federal tax credit in the U.S.
  • Include home charger installation costs (usually $500 - $1,500).
  • Lower operational costs often 'pay back' the premium over 3-7 years.

Environmental Impact

Beyond direct financial savings, EVs contribute to lower tailpipe emissions and can be powered by renewable energy sources.

  • Zero tailpipe emissions improves local air quality.
  • Potential for even greater savings if you have solar panels.
  • Increasing available infrastructure makes long distance trips easier.