EV Total Cost of Ownership Calculator
Compare the complete cost of owning an electric vs gas vehicle — purchase, fuel, maintenance, insurance, and depreciation.
Vehicles
Usage
5-Year Total Cost of Ownership
California • 13,500 mi/year
Cost Breakdown
| Category | ⚡ EV | ⛽ Gas | Difference |
|---|---|---|---|
| Purchase (net) | $31,490 | $35,000 | +$3,510 |
| Fuel (5yr) | $4,771 | $10,230 | +$5,459 |
| Maintenance (5yr) | $2,700 | $5,400 | +$2,700 |
| Insurance (5yr) | $10,350 | $9,000 | -$1,350 |
| Depreciation | $18,414 | $14,333 | -$4,081 |
| Total | $49,311 | $59,630 | +$10,319 |
What's Included
- • Purchase: MSRP minus federal EV tax credit (up to $7,500)
- • Fuel: Based on your state's electricity and gas rates
- • Maintenance: EVs avg $0.04/mi vs gas $0.08/mi (no oil changes, less brake wear)
- • Insurance: EVs run ~15% higher due to repair costs
- • Depreciation: EVs ~45% over 5yr vs gas ~40% (improving as market matures)
The True Cost of Owning an Electric Vehicle in 2026
Sticker price alone doesn't tell the whole story. When you factor in fuel savings, lower maintenance costs, and available tax credits, many electric vehicles reach cost parity with comparable gas cars within the first few years of ownership.
The federal EV tax credit of up to $7,500 immediately closes the price gap, and ongoing fuel savings of $800-$2,000 per year (depending on your state) continue to add up. Maintenance is another big win — EV owners spend roughly half what gas car owners do, thanks to no oil changes, less brake wear from regenerative braking, and far fewer moving parts.
Start with our Gas vs EV Calculator for a quick fuel cost comparison, or check EV Charging Costs to understand your electricity expenses in detail.