An electric vehicle TCO calculator compares the true 5-year total cost of owning an EV versus a comparable gas vehicle. While EVs cost more upfront, lower fuel and maintenance costs mean they often save money by year 3-5 depending on driving habits and local energy prices.
Vehicle & Energy Inputs
Tesla Model 3: ~4.0 | Avg EV: ~3.5 | Truck: ~2.5
$7,500 max (income limits apply)
How to Use the Electric Vehicle TCO Calculator
Buying an EV is a long-term financial decision. This electric vehicle TCO calculator compares the true 5-year cost of ownership — including purchase price, fuel, maintenance, and incentives — so you can make an informed comparison.
Step 1: Enter vehicle prices and driving habits
Enter the purchase price of the EV you're considering and the comparable gas car. Enter your annual mileage (the US average is about 13,500 miles/year). Higher annual mileage makes EVs more attractive because you capture more fuel savings.
Step 2: Enter energy prices
Find your electricity rate on your utility bill. Enter current local gas prices. At $0.13/kWh and 3.5 miles/kWh, EV fuel costs $0.037/mile versus $0.117/mile for a 30 MPG car at $3.50/gallon — about 3x cheaper per mile for the EV.
Step 3: Review the 5-year comparison
The calculator accounts for purchase price after incentives, fuel costs, and estimated maintenance savings (EVs save roughly $800-$1,200/year on oil changes, brake pads, transmission service, and other items). The breakeven point is shown in years.
FAQ
Is this EV TCO calculator free?
Yes, completely free with no account required.
Is my data safe?
Absolutely. No data is sent to any server.
What is the federal EV tax credit?
New EVs may qualify for up to $7,500 federal tax credit under the Inflation Reduction Act. Income limits apply ($150K single, $300K joint) and the vehicle must meet price caps ($55K for cars, $80K for trucks/SUVs) and North American assembly requirements. Used EVs qualify for up to $4,000.
How much does it cost to charge an EV vs fill up a gas tank?
At $0.13/kWh electricity and 3.5 miles/kWh, charging an EV costs about $0.037 per mile. At $3.50/gallon gas with 30 MPG, gas costs about $0.117 per mile. EVs are typically 3x cheaper per mile in fuel costs.
Are EVs really cheaper to maintain?
Yes. EVs have far fewer moving parts — no oil changes, no transmission service, no spark plugs, no timing belts. Studies show EV maintenance costs are about 30-40% lower than comparable gas vehicles over 150,000 miles. The main concern is battery replacement after 150,000-200,000 miles.
Does cold weather affect EV range?
Yes, significantly. EV range can drop 20-40% in cold weather (below 20°F/-7°C) due to battery chemistry changes and the energy needed for cabin heating. This affects the effective miles-per-kWh efficiency and fuel cost comparison in cold climates.