EV vs Gas Total Cost of Ownership
Side-by-side 5- and 10-year TCO including purchase, fuel, maintenance, insurance, and resale value.
US average ≈ 13,500 mi/yr.
US avg ≈ $3.50 in 2026.
Electric Vehicle
Tesla Model 3 ≈ 132. Mustang Mach-E ≈ 100. Equinox EV ≈ 116.
US residential avg ≈ $0.165/kWh. Most home charging.
Requires MSRP under $55K (cars) or $80K (SUVs/trucks) + N. American assembly + income limits.
Varies. NY $2K, NJ $4K, CT $4.25K, CO $5K, OR $2.5K, IL $4K.
Gas Vehicle
2024 US new-vehicle avg ≈ 28 MPG combined.
Edmunds 5-yr avg ≈ $1,200/yr (oil, brakes, fluids, etc.).
Consumer Reports: EV maintenance ≈ 50% of gas — no oil, fewer parts.
EVs typically cost $150-400 more per year to insure.
Winner over 5 years
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Adjust the inputs to compare total cost of ownership.
Electric Vehicle TCO
Net purchase price$0
Total electricity cost$0
Total maintenance$0
Total insurance premium$0
Resale value−$0
Net TCO$0
Gas Vehicle TCO
Purchase price$0
Total fuel cost$0
Total maintenance$0
Total insurance$0
Resale value−$0
Net TCO$0
Cumulative cost over time
Where the lines cross is the break-even year. After that, the lower line saves you money each additional year.
Electric
Gas
Estimates only. Actual costs vary by specific vehicle, your state, your driving patterns, and your home charging setup. Federal EV tax credit has MSRP, income, and assembly requirements — verify eligibility before counting on it. Not financial advice.
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