Compare the cost of owning an electric vs. gasoline vehicle
Find out how much it really costs to own an electric car compared to a traditional gasoline vehicle in the USA or EU. We account for all costs, including region-specific incentives like federal tax credits in the USA (up to $7,500) and environmental bonuses in the EU (up to €5,000).
Why switch to electromobility?
Lower operating costs
Electric vehicles have lower operating costs and require less maintenance than gasoline vehicles. With fewer moving parts, EVs eliminate the need for oil changes and reduce brake wear through regenerative braking, resulting in maintenance savings of $800-1,500 annually for most owners.
Environmental care
Zero exhaust emissions, smaller carbon footprint, and better air quality in cities. Even accounting for electricity generation, EVs produce 60-80% fewer lifetime emissions than conventional vehicles in most regions, with this advantage growing as electrical grids continue to incorporate more renewable energy.
Financial incentives
Take advantage of incentives in both regions: up to $7,500 tax credits in the USA under the Inflation Reduction Act and up to €5,000 environmental bonuses in EU countries. Many regional incentives also include reduced registration fees, exemption from congestion charges, and preferred parking access.
Better performance
Modern electric vehicles offer excellent acceleration and driving dynamics. Electric motors deliver instant torque for responsive acceleration from a standstill, with many EVs capable of 0-60 mph times under 5 seconds. The lower center of gravity from floor-mounted battery packs also improves handling and stability.
Vehicle Ownership Cost Calculator
Enter data for your electric and gasoline vehicles to compare total ownership costs and see how much you can save with electromobility.
Understanding EV Costs at a Glance
Electric vehicles have a different cost structure than traditional cars. Here's what you need to know:
Purchase & Depreciation
- Higher initial cost, but gap is narrowing
- Many EVs now hold value comparably to gas cars
- Premium models often retain value better
Energy Costs
- Home charging: $0.07-0.12/kWh (US), €0.15-0.25 (EU)
- Public fast charging: $0.35-0.60/kWh (US), €0.59-0.79 (EU)
- Typically 60-75% cheaper than gas per mile/km
Maintenance
- No oil changes or transmission service
- Fewer brake replacements (regenerative braking)
- 30-50% lower maintenance costs over 5 years
Battery Life
- 8-10 years/100,000+ miles typical lifespan
- Most retain 70-80% capacity after 8 years
- Replacement: $5,000-15,000 depending on model
How Our Calculator Works
Our comprehensive calculator integrates real-world data, regional incentives, and customizable parameters to provide accurate cost comparisons between electric and conventional vehicles.
Enter Vehicle Details
Input purchase price, efficiency, battery specifications and regional costs for both vehicle types.
Add Energy Costs
Specify electricity and fuel prices based on your local rates to get accurate operating costs.
Apply Incentives
Include available tax credits, rebates and other incentives for your region (USA or EU).
View Results
Get detailed cost comparison, breakeven analysis, and long-term savings visualization.
Frequently Asked Questions
How accurate is the EV cost calculator?
Our calculator provides estimates based on current market data, vehicle specifications, and regional factors. While we strive for accuracy, actual costs may vary based on your specific driving habits, local electricity rates, regional subsidies, and other factors. The calculator allows you to customize most parameters for your situation. We regularly update our baseline data to reflect current market conditions in both the USA and EU regions.
What EV incentives are available in my region?
Available incentives vary by location:
USA: Federal tax credits up to $7,500 under the Inflation Reduction Act, with eligibility depending on vehicle origin, battery components, and your tax situation. Many states offer additional incentives ranging from $1,000-$5,000 plus benefits like HOV lane access and reduced registration fees.
EU: Programs vary by country, such as Germany's environmental bonus (Umweltbonus) of up to €4,500, France's ecological bonus of up to €5,000, and various tax exemptions across member states.
For a comprehensive breakdown, visit our Incentives Guide, which is updated regularly with the latest information.
What are my charging options for an electric vehicle?
You have several charging options for your EV:
Home Charging: The most convenient option is installing a Level 2 charger at home (240V in USA, 7-22kW in EU), which costs $500-1,500 plus installation. Many utility companies offer special EV rates for overnight charging.
Public Charging: Fast-charging networks like Tesla Supercharger, Electrify America, and IONITY offer rapid charging (50-350kW) for longer trips. Apps like PlugShare and ChargePoint help locate stations.
Workplace Charging: Many employers now offer free or discounted charging as an employee benefit.
Our Charging Guide provides detailed information on equipment selection, installation, and optimizing your charging routine.
Are maintenance costs really lower for EVs?
Yes, EVs typically have significantly lower maintenance costs than gas vehicles for several reasons:
- No oil changes or transmission service
- Fewer moving parts (about 20 in an EV drivetrain vs. 2,000+ in a gas engine)
- Reduced brake wear due to regenerative braking (brake pads often last twice as long)
- No exhaust system, catalytic converter, or fuel injection system to maintain
- Simpler cooling systems with fewer potential failure points
Studies show EV maintenance costs are 30-50% lower over a 5-year period compared to equivalent gas vehicles. Our calculator incorporates these maintenance savings based on manufacturer service schedules and real-world owner data.
How long do EV batteries last and what affects their lifespan?
Modern EV batteries typically last 8-10 years or 100,000-150,000 miles (160,000-240,000 km) before significant capacity loss. Most manufacturers offer 8-year/100,000-mile battery warranties.
Several factors affect battery longevity:
- Charging habits: Keeping the battery between 20-80% capacity and avoiding frequent DC fast charging sessions can extend life
- Temperature extremes: Vehicles with active thermal management systems preserve battery health better
- Driving patterns: Aggressive acceleration and high-speed driving may accelerate degradation
Even after capacity drops to 70-80%, the battery remains usable for daily driving. When replacement is needed, costs range from $5,000-15,000 depending on vehicle model and battery size. Many used batteries have second-life applications in energy storage.
Read more about battery technology in our Battery Technology Guide.
How do I compare the efficiency of EVs and gas vehicles?
The most accurate way to compare efficiency is through energy cost per distance traveled:
For gas vehicles:
- USA: Calculated as fuel price ÷ MPG = cost per mile (then multiply by 100 for cost per 100 miles)
- EU: Fuel price × L/100km = cost per 100 km
For electric vehicles:
- USA: kWh/100 miles × electricity price = cost per 100 miles
- EU: kWh/100km × electricity price = cost per 100 km
Our calculator automatically performs these conversions based on your region and inputs. For typical vehicles, EVs are 60-75% cheaper per mile than gas vehicles, but the exact savings depend on local energy prices and vehicle efficiency.
What is the environmental impact of switching to an EV?
EVs offer significant environmental benefits over their lifecycle:
- Lower lifetime emissions: Even accounting for battery production and electricity generation, EVs produce 60-80% fewer lifetime emissions than conventional vehicles in most regions
- Zero tailpipe emissions: No direct pollution in urban areas, improving air quality
- Decreasing carbon footprint: As electrical grids incorporate more renewable energy, the environmental advantage of EVs continues to grow
- Battery recycling: Modern EV batteries are 95%+ recyclable, with established programs for recovering critical materials
The environmental benefits vary by region, depending on the local electricity mix. Using renewable energy for charging maximizes the environmental benefits. Read our detailed analysis in the EV Lifecycle Carbon Footprint article.
What resources does your blog offer for EV owners and potential buyers?
Our Blog covers a wide range of EV-related topics, including:
- Buyer's Guides: How to evaluate and select the right EV, including used EV buying tips
- Technology Insights: Battery advancements, charging technologies, and emerging EV innovations
- Practical Ownership: Road trip planning, optimizing range, seasonal driving tips
- Financial Analysis: Detailed cost comparisons, tax incentive strategies, insurance considerations
- Special Situations: Apartment charging solutions, fleet transition guides, combining EVs with solar
All our articles are researched, fact-checked, and regularly updated with the latest information to provide you with reliable guidance throughout your EV journey.