⚡ Updated for 2025

Should you switch to an EV?
See your real 5-year savings.

Enter your numbers below and get an instant side-by-side cost comparison — fuel, maintenance, tax credits, insurance, and more.

$1,400 Avg. annual fuel savings
40% Lower maintenance costs
3–5 yrs Typical break-even point
⚡ Electric Vehicle
⛽ Gas Vehicle
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mi/kWh
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Your Comparison — 5 Years
Timeframe:
Total EV savings over 5 years
$0
vs. comparable gas vehicle
📅 Calculating break-even point...

Total Cost of Ownership

EV
Gas
⚡ EV Costs
Net purchase price—
Fuel (electricity)—
Maintenance—
Insurance—
Loan payments—
Total—
⛽ Gas Costs
Purchase price—
Fuel (gasoline)—
Maintenance—
Insurance—
Loan payments—
Total—

2025 Cost Comparison: Popular EVs vs Gas Rivals

See how real-world ownership costs compare for today's most popular vehicles, assuming 12,000 miles/year, $3.80/gal gas, and 13¢/kWh electricity.

EV Model Gas Rival EV 5-yr Cost Gas 5-yr Cost 5-yr Savings
Tesla Model 3 RWDBMW 3 Series$42,200$54,800+$12,600
Chevrolet Equinox EVChevrolet Equinox (gas)$36,400$44,100+$7,700
Ford F-150 LightningFord F-150 (5.0L)$62,800$73,400+$10,600
Hyundai Ioniq 6Toyota Camry$39,100$43,800+$4,700
Tesla Model Y LRToyota RAV4$48,300$48,900+$600
Rivian R1TRam 1500$71,200$68,400-$2,800

*Estimates based on MSRP, EPA efficiency ratings, and average ownership costs. Actual savings vary by location, driving habits, and incentives.

What drives the cost difference?

The sticker price is just the beginning. Here are the five factors that determine whether an EV makes financial sense for you.

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Fuel cost

Charging an EV costs the equivalent of roughly $1.00–$1.50 per gallon at average US electricity rates. At 12,000 miles/year, that's a savings of $1,200–$1,800 annually compared to a 30-MPG gas car at $3.80/gallon.

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Maintenance

No oil changes. No transmission service. Regenerative braking means brake pads last 2–3× longer. Consumer Reports data shows EV owners spend about 40% less on maintenance than gas vehicle owners over 5 years.

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Purchase price & tax credits

EVs carry a higher sticker price than comparable gas vehicles. The federal Clean Vehicle Credit expired in late 2025, but many states still offer incentives of $500–$4,000. Enter any applicable state rebate in the calculator to see the real net cost.

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Depreciation

EV depreciation varies significantly by brand. Teslas hold value reasonably well. Other brands have shown steeper depreciation in recent years, though this is improving as the market matures.

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Insurance

EV insurance currently runs 10–25% higher than comparable gas vehicles due to higher repair costs. This is the one area where gas vehicles maintain a consistent cost advantage.

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Where you live matters

California, Texas, and New York have very different electricity and gas prices. High-electricity states like Hawaii narrow the fuel savings gap, while low-rate states like Louisiana and Washington maximize EV savings.

Frequently Asked Questions

Everything you need to know before running your numbers.

On average, charging an EV costs the equivalent of roughly $1.00–$1.50 per gallon of gas, compared to $3.50–$4.50 for regular unleaded. Most EV owners save $1,000–$1,800 per year on fuel alone. The exact savings depend on your local electricity rate and how often you charge at home vs. public fast-chargers (which cost more).
The federal Clean Vehicle Credit (up to $7,500) expired September 30, 2025 under Public Law 119-21 and is no longer available for new vehicle purchases. Many states still offer their own EV incentives ranging from $500 to $4,000 — check your state's energy office or dmv.org for current offers. Enter any applicable state incentive in the calculator's "State/Local Incentives" field.
Yes. EVs eliminate oil changes (saving $100–$200/year), have fewer brake replacements thanks to regenerative braking, and have no transmission to service. A 2022 Consumer Reports study found EV owners spent about 40% less on maintenance than gas vehicle owners over the same period. Long-term battery health is the main wildcard — most EV batteries are warrantied for 8 years/100,000 miles.
Break-even depends on the price difference, your local gas and electricity rates, how much you drive, and available incentives. With the full $7,500 tax credit on a mid-range EV, many buyers reach break-even in 3–5 years. Our calculator shows your personalized break-even point — just fill in your numbers above.
Yes. The EV column includes a "Home Charger Install Cost" field. A standard Level 2 (240V) charger typically costs $500–$1,500 installed, including the equipment and electrician fees. Many utilities also offer rebates of $200–$500 on charger installations.
For daily driving, range anxiety is rarely an issue — most EVs offer 200–350 miles of range, far exceeding the average daily commute of 37 miles. For road trips, the DC fast-charging network (Tesla Supercharger, Electrify America, EVgo) has expanded significantly. Plan 20–30 minute charging stops every 2–3 hours of driving, similar to a gas station break.