EV vs Gas Car: True 5-Year Cost Calculator (Loan + Fuel + Everything)

Compare both vehicles in your own currency and units — full cost breakdown, year-by-year, and the break-even month.

Country & Currency

Amounts, fuel units and national-average defaults adjust to your country. Your numbers stay private on your device.

Quick Presets

Vehicle A — Gas Car
Vehicle B — Electric (EV)
US federal clean-vehicle credit (up to $7,500). Check eligibility at IRS.gov.

Usage & Energy Costs

Taxes, Fees & Assumptions

One-time, applied to both vehicles' price.
One-time title, plates & doc fees.

5-Year Total Cost of Ownership

Cost Component Gas Car EV
Depreciation is an estimated paper loss, not a cash cost. Actual resale value depends on market, mileage, and condition. Maintenance and insurance figures are national averages est. — override them under Advanced.
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EV Break-Even
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All-In Cost Per Mile

Gas Car
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EV
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Cumulative Cost Over Time

Gas cumulative EV cumulative Break-even

Year-by-Year Breakdown

YearGas (annual)EV (annual)Gas (cumulative)EV (cumulative)
Annual figures include loan payments (while financed), fuel/charging, maintenance & insurance, plus front-loaded depreciation. Year 1 also includes taxes & fees.

Monthly Cost Detail

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Understanding the True Cost of Your Next Car

Why the Sticker Price Tells You Almost Nothing

The difference between buying an EV and a comparable gas car cannot be measured at the dealership. The sticker price is just the beginning. Add an EV purchase incentive (up to $7,500 in the US for qualifying vehicles, with different schemes worldwide), subtract it from your financed amount, then layer in fuel costs that can be 60%–80% lower if you charge at home, maintenance that is roughly 45% cheaper without oil changes and transmission service, and insurance that costs 15%–20% more for EVs due to their expensive electronics. Then factor in that EVs depreciate faster on average — though exceptions like the Tesla Model Y hold value better than most gas SUVs. The real picture only emerges when you add all of these up over five years, including taxes and fees.

Built for Any Country and Currency

Choose your country at the top and every figure — vehicle prices, fuel, electricity, incentives, taxes, the year-by-year table and the cost-per-distance readout — switches to your local currency and units. Drivers in the United States see miles, US gallons and MPG; everyone else sees kilometres, litres and L/100km, with national-average defaults for fuel and electricity prices, typical loan rates and EV incentives. You can override any default with your own real numbers. This makes the calculator just as useful for a buyer in London, Sydney, Toronto, Mumbai or Auckland as it is for one in Texas.

The Home-Charging Advantage Is Real — and the Public-Charging Trap Is Real Too

The economics of EV ownership depend enormously on whether you can charge at home. At a typical home electricity rate, driving 15,000 miles (about 24,000 km) per year in an efficient EV costs a few hundred dollars in electricity, versus well over a thousand for a comparable gas car. But if you depend primarily on public DC fast charging — often two to four times the home rate — that advantage shrinks dramatically. A public-charging-only EV driver can pay a fuel cost per mile nearly identical to a gas car owner. Home charging is the single biggest variable, which is why this tool lets you set your home/public charging split.

Year-by-Year, Not Just a Five-Year Total

Like the Edmunds True Cost to Own® and Kelley Blue Book 5-Year Cost to Own tools, this calculator now shows a year-by-year breakdown so you can see how costs evolve. Depreciation is front-loaded — a new car loses around 20% of its value in year one and the curve flattens after that — so the annual numbers fall over time, and the cumulative-cost chart reveals exactly when the EV's lower running costs overtake a cheaper-to-buy gas car. That break-even month is the number most buyers actually want.

How to Use This Calculator

Pick your country, then enter the purchase price, down payment, and loan details for both vehicles. Use the presets to quickly model common scenarios — average commuter, high-mileage driver, or apartment dweller relying on public charging. Open the Advanced section to override maintenance, insurance and depreciation with your own figures. The results show every cost component side by side, a cost-per-mile (or per-kilometre) summary, a cumulative-cost chart and a full year-by-year table. Pro unlocks CSV and PDF export plus saving and comparing up to four scenarios. All maintenance and insurance estimates are marked as estimates and based on national averages from sources such as Consumer Reports and AAA.

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Frequently Asked Questions

Can I use this calculator outside the United States?
Yes. Select your country at the top and every amount switches to your local currency, with fuel shown per litre and economy in L/100km (kWh/100km for the EV). National-average defaults for fuel, electricity, loan rates and EV incentives are filled in automatically, and you can override any of them. Currency conversions use approximate reference rates for display, so always confirm local prices.
How is the year-by-year breakdown calculated?
Each year includes loan payments (only while the loan is active), fuel or charging, maintenance and insurance, plus that year's share of depreciation using a front-loaded curve (roughly 20% of value lost in year one, flattening afterwards). Taxes and one-time fees are added in year one. The cumulative columns and the chart show the running total, which is what determines the EV break-even point.
What does "all-in cost per mile" mean?
It is the total five-year cash cost of ownership (loan payments, fuel/charging, maintenance and insurance, taxes and fees — but not paper depreciation) divided by the total distance driven over those five years. It is a quick way to compare two vehicles on a single number. Outside the US it is shown as cost per kilometre.
Does the $7,500 EV tax credit apply to all electric vehicles in 2026?
No. The $7,500 US federal clean vehicle credit has income limits (modified AGI under $150,000 for individuals, $300,000 for joint filers) and vehicle price caps (under $55,000 for cars, $80,000 for trucks/SUVs/vans). The vehicle must also be assembled in North America and meet battery sourcing requirements. Some vehicles qualify for a partial $3,750 credit. Other countries run their own incentive schemes — set the incentive field to your local amount. Check the relevant tax authority for current rules.
Is EV insurance really more expensive?
On average, yes — EV insurance runs 15%–20% higher than comparable gas vehicles because the cost to repair or replace EV-specific parts (battery packs, electric motors) is higher. However, rates vary significantly by insurer and vehicle model. Some insurers now specialize in EV coverage and offer competitive rates. Getting quotes from 3–4 insurers before purchasing can save hundreds per year. You can enter your own quoted premiums under Advanced.
How does EV depreciation compare to gas cars?
EVs have historically depreciated faster than comparable gas vehicles, largely due to rapid model updates and battery technology improvements making older EVs less desirable. The average 5-year depreciation for a gas car is around 50%; for EVs it's closer to 55%, though this varies widely by make and model. Some EVs (Tesla Model Y) hold value comparably to top gas models; others have depreciated rapidly. Adjust both depreciation rates under Advanced.
What auto loan rate should I expect in 2026?
Auto loan rates in 2026 vary by credit score, country and lender. In the US, excellent credit (750+) can access rates of 5.5%–7.0% for new vehicle loans; average credit (650–700) typically sees 8%–12%. Credit unions often beat banks and dealer financing. Getting pre-approved through an independent lender before visiting a dealership gives you negotiating leverage. The calculator pre-fills a typical national rate for your country, which you can change.