Gas vs Electric Car Cost Calculator
How much could you save per year by switching to electric?
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Gas vs Electric Car Cost Calculator by TheCalcTools
How the Gas vs Electric Car Cost Calculator works
Enter yearly mileage and the figures for each car.
Fuel cost is miles ÷ efficiency × price, plus maintenance.
The difference is your estimated yearly saving, before purchase price and financing.
The formula
Worked example
Using the default values shown in the calculator:
| Miles driven per year | 12000 |
|---|---|
| Gas car MPG | 28 |
| Gas price per gallon | $3.6 |
| Gas car maintenance per year | $900 |
| EV efficiency (miles per kWh) | 3.5 |
| Electricity price per kWh | $0.16 |
| EV maintenance per year | $450 |
- Gas car: 12,000 ÷ 28 × $3.60 + $900 = $2,443 a year.
- EV: 12,000 ÷ 3.5 × $0.16 + $450 = $999; saving $1,444 a year ($7,221 over 5 years).
Result:
| Gas car per year | $2,443 |
|---|---|
| Electric car per year | $999 |
| Yearly saving with EV | $1,444 |
| Saving over 5 years | $7,221 |
Frequently asked questions
Does this include the car price?
No. Electric cars often cost more to buy, so compare the running-cost saving with the price difference.
What if I charge in public?
Raise the electricity price to the public rate to see the effect. Fast charging can erase much of the saving.
Sources and further reading
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This calculator gives estimates for information only. Check important results independently before you rely on them. See our disclaimer.