EV vs Gas Calculator: True Cost of Ownership

How the EV vs gas calculator works

1. Pick your country. We pre-select it from your device’s time zone (change it any time) and pre-fill November 2026 national averages for fuel, electricity and the incentives that actually exist today.
2. Describe the two cars. Price, efficiency, insurance, and how you’ll pay — cash or a car loan with your own interest rate and term.
3. Read the verdict. Total cost of ownership, monthly payments, break-even point, cost per mile or km and CO₂ — all update as you type.

Why drivers use this calculator

EV incentives in 2026: what you can still claim

Purchase incentives changed a lot over the past year. Here is where things stand in November 2026 — always confirm eligibility with the official program before you buy.

Default prices used (November 2026)

These national averages pre-fill the calculator. Your own fuel price and electricity tariff will be more accurate — replace them in one tap.

Example: is an EV cheaper over 10 years?

Using the US defaults — 12,000 miles a year, a $42,000 EV against a $35,000 gas car, both financed at 7% APR over 60 months — the two cars end up almost level: about $82,600 for the EV versus $81,600 for the gas car over 10 years. Charging costs about $8,400 against $17,300 for gasoline, but the EV’s higher price, insurance and loan interest eat that gap — and because EVs typically lose value faster (we estimate 17% resale after 10 years versus 28% for a gas car), the gas car finishes roughly $1,000 ahead.

The UK is just as close: the £3,750 grant and cheaper home charging are cancelled out by the new 3p-per-mile eVED charge from April 2028 and lower EV resale, leaving both cars at about £52,500. In Canada, where gasoline is pricier and the $5,000 EVAP rebate applies, the EV comes out about $11,000 cheaper and pays back in under a year. The lesson: the answer depends on your mileage, where you charge and what you pay up front — which is exactly what the calculator above is for.

How we calculate

• Energy: distance ÷ 100 × consumption (kWh/100 km or L/100 km) × price. EV charging blends your home rate with public-charger prices by the share you set. Prices can rise each year (advanced options).
• Financing: standard amortising-loan formula, EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1). We count the interest paid during your ownership period, plus any loan balance still owed at the end.
• Total cost of ownership = price after incentives + loan interest + energy + maintenance + insurance + tax and fees − resale value. Resale is estimated from typical depreciation (about 16% a year for EVs and 12% for gas cars) until you type your own figure.
• UK road charge: from April 2028 EVs pay eVED of 3p per mile, which the calculator adds to EV fees automatically.
• CO₂: 2.31 kg per litre of petrol burned; EV emissions use each country’s average grid intensity.
• Not included: home-charger installation (add it to the EV price), battery replacement, and business tax deductions.

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Frequently asked questions

Last reviewed: November 11, 2026. Sources: AAA gas prices, EIA Electric Power Monthly, IRS clean vehicle credits, Ofgem energy price cap, Transport Canada, Bundesregierung E-Auto-Förderung. Estimates only — not financial advice.