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
Gas/Petrol Vehicle
Total Cost Comparison
Total EV Cost
Total Gas Car Cost
Your Savings with EV
EMI Comparison
Electric Vehicle EMI
Gas Vehicle EMI
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) |
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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 |
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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:
- How John saved $8,500 on his Tesla Model 3
- Sarah’s 7-year cost analysis: Nissan Leaf vs Honda Civic
- UPS fleet savings: $200K/year with electric delivery vans
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.