Question 1

Is an EV really cheaper than a gas car?

Accepted Answer

It depends. EVs usually cost less per mile to fuel (electricity is cheaper than gasoline per mile) and less to maintain, but often cost more to buy. Whether the lifetime total comes out ahead depends on the price gap, how many miles you drive, your electricity and gas prices, and how long you keep the car. This calculator shows the break-even point so you can see when — or if — the EV pays off.

Question 2

What is the break-even point?

Accepted Answer

It's the number of years it takes for an EV's lower running costs to repay its higher purchase price. If the EV costs $8,000 more but saves $1,300 a year in fuel and maintenance, it breaks even in about 6 years. Drive more miles or face higher gas prices and the break-even comes sooner.

Question 3

Why is the EV's cost per mile so much lower?

Accepted Answer

Electricity is cheaper per mile than gasoline for most drivers. At $0.16/kWh an EV doing 3.5 mi/kWh costs about 4.6¢/mile; a 28 MPG gas car at $3.30/gal costs about 11.8¢/mile — over twice as much. Public DC fast charging narrows the gap, which is why the calculator lets you set a home-vs-public charging mix.

Question 4

What costs are not included?

Accepted Answer

This compares purchase price, fuel/energy, and routine maintenance. It excludes insurance, registration, financing interest, and resale value, which vary too much to generalize. For financing specifically, use our EV loan calculator. Treat the result as a strong directional estimate, not an exact figure.

EV vs Gas Cost of Ownership

Electric

Gas

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