EV vs Petrol Cost Calculator
Compare electric vehicle (EV) and petrol car costs including purchase price, fuel/charging, maintenance, insurance, and total cost of ownership. Make a data-driven decision.
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Complete EV vs Petrol Cost Breakdown (2026)
Electric Vehicle (EV)
- $7,500 Federal Tax Credit
(Electricity: $0.12/kWh avg)
(Minimal: tires, brakes, fluids)
(10-20% higher than gas)
Petrol/Gas Vehicle
(Comparable models)
(Gas: $3.50/gal, 28 MPG avg)
(Oil, filters, belts, etc.)
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5-Year Total Cost of Ownership
Electric Vehicle (75k miles)
- Purchase: $50,000
- Tax Credit: -$7,500
- Electricity: $3,000
- Maintenance: $2,000
- Insurance: $8,500
- Resale Value: -$25,000
- Net 5-Year Cost: $31,000
- Cost per mile: $0.41
Petrol Vehicle (75k miles)
- Purchase: $38,000
- Tax Credit: $0
- Gasoline: $10,000
- Maintenance: $5,000
- Insurance: $7,500
- Resale Value: -$18,000
- Net 5-Year Cost: $42,500
- Cost per mile: $0.57
5-Year EV Savings: $11,500 ($2,300/year)
Break-even point: ~2.5 years for average drivers
Key Factors to Consider
Driving Habits
- • High mileage: EV saves more
- • City driving: EV excels
- • Long road trips: Gas more convenient
- • Short commutes: EV ideal
Home Setup
- • Home charger: Essential
- • Installation: $500-$2,000
- • Electricity rates: Check yours
- • Solar panels: Free charging
Incentives
- • Federal: Up to $7,500
- • State: $0-$5,000
- • Utility rebates: $100-$1,000
- • HOV lane access: Time savings
Frequently Asked Questions
Are electric cars cheaper to run than petrol cars?
Yes, EVs typically cost 50-70% less to fuel per mile ($0.03-$0.05 per mile for electricity vs $0.10-$0.15 for gas). Maintenance costs are also 30-40% lower due to fewer moving parts. Over 5 years, you can save $5,000-$10,000 in operating costs.
How long does it take to recoup the higher EV purchase price?
With federal tax credits ($7,500), state incentives, and fuel savings, most EV buyers break even in 3-6 years for average drivers (12,000-15,000 miles/year). High-mileage drivers may break even in 2-3 years.
What's the true cost of charging an electric car?
Home charging costs $0.10-$0.15 per kWh (varies by state), averaging $0.03-$0.05 per mile. Public fast charging is more expensive at $0.25-$0.45 per kWh. A full charge for 300-mile range costs $10-$20 at home, $30-$50 at public chargers.
How does EV maintenance compare to petrol cars?
EVs have 30-40% lower maintenance costs: no oil changes, spark plugs, exhaust systems, or transmission maintenance. Main costs are tires, brakes (last longer due to regenerative braking), and cabin air filters. Battery warranties typically cover 8-10 years.
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