⚡ Electric
$1,500
per year
Energy$600
Maintenance$900
Free Calculator
Electric vs. Gas:
What Does It Really Cost?
Enter 3 numbers. Instantly see your annual savings, break-even point, and 10-year cost outlook.
Your Numbers
15,000 mi
5,000 mi50,000 mi
$0.16 / kWh
$0.06$0.40 / kWh
$3.50 / gal
$1.50$7.00 / gal
⛽ Gas
$3,250
per year
Fuel$1,750
Maintenance$1,500
You Save
$1,750
per year with EV
Break-even after tax credit
~3 years
10-Year Cumulative Cost
Includes $7,500 federal EV tax credit applied at purchase
Calculation Assumptions
- • EV efficiency: 4 mi/kWh (EPA average for mainstream EVs)
- • Gas fuel economy: 30 MPG (US new-car fleet average)
- • EV annual maintenance: $900 · Gas: $1,500 (AAA 2024 data)
- • EV price premium assumed offset by the $7,500 federal tax credit (IRA 2024)
- • Home charging assumed; public fast-charging costs not included
- • Data reference: fueleconomy.gov
Common Questions
Is electric really cheaper than gas overall? ↓
In most US states, yes. Electric vehicles cost 3–5× less per mile to fuel than gasoline cars. Combined with lower maintenance costs, most EV owners save $1,000–$3,000 per year in running costs, depending on local electricity and gas prices.
How long until an EV pays for itself? ↓
With the $7,500 federal tax credit, most buyers break even in 3–6 years versus a comparable gas car. Higher annual mileage and states with cheap electricity — like Washington or Louisiana — can cut that window to under 3 years.
What is the $7,500 federal EV tax credit? ↓
The Inflation Reduction Act provides a federal tax credit of up to $7,500 for qualifying new EVs. Income limits and vehicle price caps apply. Since 2024 you can apply it as a point-of-sale discount directly at the dealership — no waiting until tax season.
Are EV maintenance costs really lower? ↓
Yes. EVs skip oil changes, spark plugs, timing belts, and exhaust systems entirely. AAA data shows EV owners spend roughly 40% less on maintenance each year. Regenerative braking also extends brake-pad life significantly.