EV vs Gasoline Car Savings Calculator

EV vs Gasoline | Petrol | Fuel | Car Savings Calculator

Compare total ownership costs and EMI payments to see how much you can save with an electric vehicle

Input Parameters

Electric Vehicle

approx range: 25-40 kWh/100mi & 15-25 kWh/100km

Gas/Petrol Vehicle

Total Cost Comparison

Total EV Cost

$42,500

Total Gas Car Cost

$45,750

Your Savings with EV

$3,250

EMI Comparison

Electric Vehicle EMI

$560/mo
for 5 years

Gas Vehicle EMI

$420/mo
for 5 years
Monthly difference: $140 higher for EV

Long-term Insight

While the EV has a higher monthly EMI payment, the lower operating costs mean you save money in the long run. The additional monthly EMI cost is offset by your fuel savings.

  • EV monthly fuel savings: $140
  • Net monthly position: $0 difference
  • After loan completion: You'll save $250/month with EV

Why Compare EV vs Gas Costs?

Hidden Savings Factors

Beyond fuel costs, consider these financial advantages:

  • Lower maintenance: EVs require no oil changes, fewer brake replacements (regenerative braking), and have fewer moving parts
  • Tax incentives: Federal tax credits up to $7,500 + state/local incentives
  • Time savings: Home charging vs gas station visits

EV vs Gas Cost Analysis Methodology

Cost Factor Electric Vehicles Gasoline Vehicles EV Savings Advantage
Fuel Cost per Mile $0.03-$0.05 $0.10-$0.15 60-70% less
Based on 15,000 miles/year:
• EV: Home charging @ $0.12/kWh (national avg)
• Gas: Regular @ $3.50/gal (current national avg)
5-Year Maintenance $1,200-$1,800 $2,600-$3,800 $1,400-$2,000 saved
Includes:
• EV: Tire rotations, cabin filters, brake fluid
• Gas: Oil changes, spark plugs, transmission fluid, exhaust repairs
10-Year Total Cost $38,000-$42,000* $52,000-$58,000 $10,000-$16,000 saved
*Includes purchase price after federal tax credits
Data Sources: EPA Fuel Economy Data 2023, DOE Alternative Fuels Report 2024, AAA Maintenance Surveys
Assumptions: 12,000 miles/year, home charging 80% of time, mid-range vehicle segment

Real-World Savings Examples

See how actual drivers saved with EVs:

Pro Tip: Create your own case study using our calculator results!

EV Tax Credits & Incentives Guide

Current US federal tax credits (2023):

  • $7,500: New EVs meeting battery requirements
  • $4,000: Used EVs (30% of sale price)
  • Additional savings: State incentives up to $5,000 + local utility discounts

How the EV vs Gas Car Savings Calculator Works

The calculator compares total ownership costs between electric and gasoline vehicles over time, including both upfront costs and ongoing expenses. Here’s the step-by-step process:

1. Input Parameters:

  • Currency Selection: Choose your local currency (supports 30+ currencies worldwide)
  • Daily Driving Distance: Enter your average daily travel (in miles/km)
  • Comparison Period: Set how many years you want to analyze (1-15 years)

For Electric Vehicles (EV):

  • Purchase price, down payment, loan terms (interest rate and duration)
  • Electricity cost per kWh
  • Vehicle efficiency (kWh/100mi or kWh/100km)
  • Available tax credits/incentives

For Gas Vehicles:

  • Purchase price, down payment, loan terms
  • Fuel cost (per gallon/liter)
  • Fuel efficiency (mpg or L/100km)

2. Key Calculations:

  • Annual Driving Distance:
    Daily Distance × 365 days

  • EV Energy Costs:
    (Annual Distance / Efficiency) × Electricity Cost
    *(e.g., 15,000 km / 6.2 km/kWh × $0.15/kWh)*

  • Gas Fuel Costs:
    (Annual Distance / Efficiency) × Fuel Cost
    *(e.g., 15,000 km / 12 km/L × $1.20/L)*

  • Loan Calculations (EMI):
    Uses standard loan formula accounting for:
    Loan Amount = Price - Down Payment
    Monthly Interest Rate = Annual Rate ÷ 12
    EMI = [P × r × (1+r)^n] ÷ [(1+r)^n-1]

  • Total Cost of Ownership:textCopyDownloadTotal Cost = Down Payment + (EMI × Loan Term) + (Annual Fuel Cost × Comparison Years) – Tax Credits

3. Results Shown:

  • Total Cost Comparison: Side-by-side comparison of all costs over your selected period
  • Savings Calculation: Shows how much you’d save with EV vs Gas
  • EMI Comparison: Monthly payment differences
  • Visual Chart: Bar graph displaying cost breakdown
  • Long-Term Insights:
    • Monthly fuel savings with EV
    • Net monthly position (factoring EMI + fuel costs)
    • Projected savings after loan completion

4. Smart Unit Conversions:

  • Automatically converts between:
    • Miles ↔ Kilometers
    • MPG ↔ L/100km
    • kWh/100mi ↔ kWh/100km
    • Per gallon ↔ Per liter pricing

5. Key Assumptions:

  • Consistent daily driving distance
  • Fixed electricity/fuel prices
  • Loan terms remain unchanged
  • Tax credits applied upfront
  • No maintenance cost differences (focus on fuel/energy costs)

Why This Matters:
The tool reveals hidden savings by showing:

  • How higher EV payments are offset by lower “fuel” costs
  • The breakeven point where EV becomes cheaper
  • Long-term savings potential beyond loan period
  • Impact of local fuel/electricity prices on savings

Users can adjust all variables to match their personal situation – making it a personalized comparison rather than generic estimates. The real power is seeing both monthly cash flow impact (EMI) and long-term total savings in one view.

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