Fuel & Efficiency Calculator
EV vs Gas Savings Calculator
Calculate how much you save annually switching to an electric vehicle, and how many years until the EV price premium pays for itself.
⛽ Your Gas Car
⚡ Electric Vehicle
Tesla Model 3: ~25 · Rivian R1T: ~46 · Bolt EV: ~27
US avg: $0.16/kWh. Home charging: $0.10–0.14. Supercharger: $0.25–0.40.
Extra cost vs equivalent gas car (after federal tax credit).
Annual Fuel Savings
by driving electric
Gas Annual Cost
$1,725
EV Annual Cost
$477
Breakeven Period
6.4 years
5-Year Savings
$6,240
Cost per Mile
Electric vs gas: the real cost picture.
Switching to electric almost always lowers your cost per mile — the question is by how much, and how long it takes to offset the higher purchase price. This calculator compares annual fuel cost head-to-head and tells you the breakeven point, but the full picture also includes maintenance, incentives, and where you plug in.
The per-mile gap
At US averages, a 28-MPG gas car costs about 12 cents a mile in fuel, while an efficient EV charged at home costs closer to 4–5 cents. Over 14,000 miles a year that's roughly $1,000–1,300 in annual fuel savings. The gap widens as gas prices rise and narrows as electricity rates climb, which is why your local numbers matter more than national averages.
Where you charge changes everything
Home charging overnight is the cheapest fuel most drivers will ever buy — often $0.10–0.14/kWh, and less on a time-of-use plan. Public DC fast charging is a different story at $0.25–0.40/kWh, which can cost nearly as much per mile as gasoline. If you can't charge at home, run the calculator with a realistic public rate before assuming an EV will save you money.
Beyond fuel: maintenance and incentives
EVs have no oil changes, no spark plugs, no timing belts, and regenerative braking that makes pads last far longer — Consumer Reports estimates $900–1,500 a year in maintenance savings. On top of that, the federal clean-vehicle credit can knock up to $7,500 off a qualifying new EV (or $4,000 used), and many states and utilities add their own rebates. Factor those into the price premium field above to see your true breakeven.
When an EV won't save you money
The math turns against EVs if you drive very few miles a year (little fuel to save), pay high electricity rates, rely mostly on public fast charging, or take frequent long road trips where charging stops and premium pricing add up. In those cases an efficient hybrid can be the cheaper long-run choice.
Frequently asked questions.
How much cheaper is it to charge an EV vs fill up?
At US averages ($0.16/kWh electricity, $3.45/gallon gas), driving 28 MPGe EV costs about $0.045/mile vs $0.123/mile for a 28-MPG gas car — about 63% cheaper per mile. At home charging rates ($0.10/kWh), the gap is even larger.
What is the federal EV tax credit?
The Inflation Reduction Act (2023+) provides up to $7,500 for new EVs and $4,000 for used EVs, subject to income limits and vehicle price caps. Check IRS Form 8936 and fueleconomy.gov for qualifying vehicles.
Do EVs cost more to maintain?
EVs have significantly lower maintenance costs — no oil changes, fewer brake replacements (regenerative braking), simpler drivetrain. Consumer Reports estimates EV owners save $900–1,500/year on maintenance vs gas cars.
How many years until an EV pays for itself?
It depends entirely on how much you drive, your electricity rate, and the upfront price premium. A high-mileage driver charging cheaply at home can break even in 3–5 years; a low-mileage driver paying high public-charging rates might never recoup the premium on fuel savings alone. Use the breakeven figure above with your own numbers.
Does home charging really cost less than public charging?
Dramatically less. Home electricity averages $0.10–0.16/kWh, while DC fast chargers often run $0.25–0.40/kWh or more — sometimes erasing the savings versus gas. The EV cost advantage assumes most of your charging happens at home overnight.
What about battery replacement and resale value?
Modern EV batteries are warrantied for 8 years/100,000 miles and typically retain 80–90% capacity well beyond that, so most owners never replace one. Resale values vary by model, but the fuel and maintenance savings usually outweigh faster depreciation on some EVs.