Finance
EV vs Gas Calculator
Should you sell your gas car for an EV or hybrid? Compare keep, hybrid, and electric side by side - running costs, depreciation, incentives, and the break-even year.
Guide
How to use the EV vs Gas Calculator
The EV vs Gas Calculator helps you make a quick estimate, compare scenarios, and understand the numbers behind the result. It is designed for fast planning, with enough context to make the answer useful instead of just a number.
- Enter the amounts, rates, and time period that match the scenario you want to model.
- Review the main result first, then scan the supporting totals to understand what drives it.
- Change one input at a time to compare payments, interest, growth, savings, or break-even points.
Method
How this calculator works
It compares cumulative cash spending for keeping your gas car, buying a hybrid and buying an EV. The chart's break-even uses cash spending; the separate net ownership-cost summary also subtracts resale value at the end of your horizon.
This calculator is useful for deciding whether selling your gas car for a hybrid or EV pays off, and when it breaks even.
Because assumptions matter, try a few values that represent optimistic, typical, and conservative cases.
Financial results are estimates. Actual loan terms, taxes, fees, rates, and market returns can change the final outcome.
Example
Worked example
An illustrative 12,000 miles a year at 28 mpg and $3.50 per gallon costs $1,500 in gas. At 3.5 miles per kWh and $0.16 per kWh, EV electricity costs about $549, a difference of about $951. These energy costs alone do not establish a break-even year: compare purchase price, financing, insurance, maintenance and resale value too. No purchase rebate is assumed.
FAQ
Common questions
How much cheaper per mile is an EV than a gas car?
With home charging at $0.16/kWh and an EV getting 3.5 miles per kWh, electricity costs about 4.6 cents per mile. A 28-mpg gas car at $3.50 a gallon costs about 12.5 cents per mile — roughly two and a half times more. The gap narrows sharply if you rely on public fast charging.
Does relying on public charging change the math?
Substantially. DC fast charging at $0.40–$0.50/kWh works out to 11–14 cents per mile — about the same as gas. The savings case for an EV is strongest when most charging happens at home or at cheap workplace chargers.
How does depreciation affect the comparison?
The calculator subtracts the assumed resale value at the end of your horizon. Faster assumed depreciation can offset energy savings. Use vehicle-specific estimates; the defaults are illustrative, not a prediction of resale prices.
Is a purchase incentive assumed?
No. Both US and EU presets start with zero incentives. US federal clean-vehicle credits are unavailable for vehicles acquired after September 30, 2025. Earlier acquisitions and other programs have separate eligibility rules; enter only an incentive you have verified.
What information do I need for the EV vs Gas?
You usually need annual distance, fuel and electricity prices, the price, efficiency, and incentive of each car, plus depreciation and financing. You can change the inputs and recalculate as many times as needed.
How does the EV vs Gas calculate the result?
It compares cumulative cash spending for keeping your gas car, buying a hybrid and buying an EV. The chart's break-even uses cash spending; the separate net ownership-cost summary also subtracts resale value at the end of your horizon.
Are the results exact?
Financial results are estimates. Actual loan terms, taxes, fees, rates, and market returns can change the final outcome.
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