2027 Chevy Equinox EV vs. 2026 Toyota RAV4 Hybrid: Which Costs Less Over 10 Years?
The Equinox EV costs less per mile and edges out its own gas twin. Over 10 years at average US prices, though, the 43-mpg RAV4 Hybrid is about $6,200 cheaper. Here's the full breakdown, and when the EV wins.
In this article
- Equinox EV vs RAV4 Hybrid: specs side by side
- Price: the RAV4 Hybrid starts $3,445 lower
- Running costs: the EV saves about $250 a year
- 10-year cost of ownership, line by line
- Does the answer change for you? Five scenarios
- When the Equinox EV comes out ahead
- Pros and cons
- Which one should you buy?
- Watch: the all-new 2026 RAV4
- FAQ
- How we compared them
Two of America’s most popular compact SUVs, with two different ways to stop paying for gas. The 2027 Chevrolet Equinox EV is fully electric, with 319 miles of EPA range. The 2026 Toyota RAV4 is now sold only as a hybrid and is rated at 43 mpg. We added up ten years of payments, charging, fuel, insurance, fees and resale for both, then added the gas-powered Equinox for reference.
The short answer
At US-average costs, the RAV4 Hybrid is about $6,200 cheaper to own over 10 years.
The Equinox EV costs 7.0¢ a mile to run, against 9.2¢ for the RAV4 Hybrid and 14.6¢ for a gas Equinox. It ends up roughly level with its gas twin. But the 43-mpg RAV4 starts $3,445 cheaper, costs less to insure and register, and holds more of its value.
Equinox EV vs RAV4 Hybrid: specs side by side
We compare the entry front-wheel-drive versions most buyers price first. A ✓ marks the better figure.
| Spec | 2027 Chevrolet Equinox EV LT FWD | 2026 Toyota RAV4 Hybrid LE FWD |
|---|---|---|
| Price incl. destination | $36,795 ($34,995 + $1,800) | $33,350 ($31,900 + $1,450) |
| Powertrain | Battery electric, front-wheel drive (AWD available) | 2.5-liter hybrid, front-wheel drive (AWD available for $1,400) |
| EPA efficiency | 108 MPGe combined (31 kWh/100 mi) | 43 mpg combined (47 city / 40 hwy) |
| EPA range | 319 miles | About 624 miles per tank |
| Refuel / recharge | Up to about 80 miles of range in 10 minutes on DC fast charging; NACS port (Tesla Superchargers) | About 5 minutes at any gas station |
| Center screen | 17.7-inch touchscreen (no Apple CarPlay or Android Auto) | Toyota multimedia with Apple CarPlay and Android Auto |
| Energy cost per mile* | 7.0¢ | 9.2¢ |
| 10-year cost of ownership* | $78,133 | $71,897 |
*US averages: 12,000 miles a year, home electricity at 18¢/kWh with 15% public fast charging at 48¢/kWh, gasoline at $3.94/gal, both financed with 10% down at 7% APR over 60 months. Full assumptions are in the methodology section.
Price: the RAV4 Hybrid starts $3,445 lower
Chevrolet prices the 2027 Equinox EV LT FWD from $34,995 plus a $1,800 destination charge, which is $36,795 delivered. Toyota prices the 2026 RAV4 Hybrid LE FWD from $31,900 plus $1,450 destination, or $33,350. The federal $7,500 EV tax credit ended for vehicles acquired after September 30, 2025, so the gap is real unless a dealer discount or state rebate closes it.
For reference, the gas-only 2026 Equinox LT FWD starts at $28,600 before destination. We estimate it at about $30,595 delivered, but destination charges reported for it vary.
Running costs: the EV saves about $250 a year
At the EPA’s 31 kWh per 100 miles, an Equinox EV driven 12,000 miles a year uses about 3,720 kWh. Charged mostly at home at 18¢/kWh, with 15% of charging at public fast chargers, that costs about $837 in year one. The RAV4 Hybrid burns about 279 gallons over the same miles, which comes to about $1,100 at $3.94 a gallon. The gas Equinox, at 27 mpg, would need about 444 gallons, or roughly $1,750.
Over ten years, with energy prices rising 2% a year, that’s $9,165 for the Equinox EV, $12,040 for the RAV4 Hybrid and $19,174 for the gas Equinox. The EV saves about $2,900 against the RAV4, and about $10,000 against its own gas sibling.
10-year cost of ownership, line by line
| Cost over 10 years | Equinox EV | RAV4 Hybrid | Gas Equinox |
|---|---|---|---|
| Purchase price | $36,795 | $33,350 | $30,595 |
| Loan interest (7%, 60 mo) | $6,228 | $5,645 | $5,179 |
| Charging / gasoline | $9,165 | $12,040 | $19,174 |
| Maintenance | $7,000 | $9,000 | $11,000 |
| Insurance | $23,000 | $20,000 | $20,000 |
| Registration & EV fees | $2,200 | $1,200 | $1,200 |
| Resale after 10 years | −$6,255 (17%) | −$9,338 (28%) | −$8,567 (28%) |
| Total cost of ownership | $78,133 | $71,897 | $78,581 |
Monthly payments are $656 for the Equinox EV, $594 for the RAV4 Hybrid and $545 for the gas Equinox. The Equinox EV narrowly beats its gas sibling, by about $450 over ten years. It doesn’t catch the RAV4, because it costs more to buy, finance, insure and register, and because the RAV4 is expected to keep about $3,100 more of its value.
Check it with your own numbers
Your electricity rate, gas price, insurance quotes and mileage are pre-filled with this article’s figures. Change any of them.
Does the answer change for you? Five scenarios
We changed one thing at a time and kept everything else at the US averages.
| Scenario | Equinox EV | RAV4 Hybrid | Cheaper |
|---|---|---|---|
| US average (12,000 mi/yr) | $78,133 | $71,897 | RAV4 by $6,236 |
| High mileage (15,000 mi/yr) | $80,424 | $74,906 | RAV4 by $5,518 |
| California (32¢/kWh, $5.71/gal) | $83,408 | $77,305 | RAV4 by $6,103 |
| Cheap overnight rate (12¢/kWh, 95% home) | $74,589 | $71,897 | RAV4 by $2,693 |
| Keep it 5 years, not 10 | $48,025 | $42,142 | RAV4 by $5,883 |
When the Equinox EV comes out ahead
- Cheap home charging: an off-peak EV rate or solar near 12¢/kWh cuts the gap to about $2,700.
- Matching insurance quotes: we assumed the EV costs $300 a year more to insure, which adds up to $3,000 over ten years. Get real quotes.
- No state EV fee: many states add $100–$250 a year to EV registration. Without it, the EV saves another $1,000.
- Discounts: Equinox EV dealer cash and lease deals have been common. Every dollar off the price comes straight off the gap.
Put the first three together and the Equinox EV finishes about $1,300 ahead of the RAV4 Hybrid. Against the gas Equinox, the EV already wins at average prices.
Pros and cons
2027 Chevrolet Equinox EV
What we like
- 319-mile EPA range on FWD models
- Lowest running cost per mile of the three
- Native NACS port for Tesla Superchargers
- Huge 17.7-inch touchscreen
- Slightly cheaper over 10 years than the gas Equinox
Watch out for
- About $6,200 more than a RAV4 Hybrid over 10 years at average prices
- No federal tax credit since Sept 30, 2025
- No Apple CarPlay or Android Auto
- EVs typically lose value faster
2026 Toyota RAV4 Hybrid
What we like
- Lowest 10-year cost in every US scenario we ran
- 43 mpg combined and about 624 miles per tank
- 226 hp (FWD), up from the previous gas model
- AWD available for $1,400
- Strong resale history
Watch out for
- Still buys about 280 gallons of gas a year
- Routine engine maintenance, such as oil changes
- No home “refueling”
- Costs about 30% more per mile to run than the EV
Which one should you buy?
Buy the Equinox EV if…
- You can charge at home, ideally on an off-peak rate
- You’re comparing it with a regular gas SUV, not a hybrid
- You can find dealer cash or a strong lease deal
- You want the quiet, smooth feel of an EV and no gas stops
Buy the RAV4 Hybrid if…
- The lowest total cost matters most
- You can’t charge at home
- You often drive long distances
- You want Apple CarPlay or Android Auto
Watch: the all-new 2026 RAV4
FAQ
Is the Equinox EV cheaper to own than a RAV4 Hybrid?
Not at US-average prices. Our 10-year estimate is $78,133 for the Equinox EV LT FWD and $71,897 for the RAV4 Hybrid LE FWD. With cheap home charging, matching insurance and no state EV fee, the Equinox EV can finish about $1,300 ahead.
Is the Equinox EV cheaper than the gas Equinox?
Slightly, by about $450 over ten years at average prices. The EV costs more up front, but saves roughly $10,000 on fuel and $4,000 on maintenance.
How much does it cost to charge an Equinox EV?
At 18¢/kWh, about 5.6¢ a mile at home, or about 7¢ a mile once you include some public fast charging. That works out to roughly $840 a year at 12,000 miles.
Does the 2027 Equinox EV qualify for a federal tax credit?
No. The $7,500 clean-vehicle credit ended for vehicles acquired after September 30, 2025. Check your state and utility for rebates.
What mpg does the 2026 RAV4 Hybrid get?
The EPA rates the front-wheel-drive 2026 RAV4 at 43 mpg combined (47 city, 40 highway), and AWD LE and SE models at 42 mpg combined.
How we compared them
This is a data-led ownership-cost comparison, not a road test. We haven’t driven these vehicles for this article.
- Prices: Chevrolet lists the 2027 Equinox EV LT FWD from $34,995. Its $1,800 destination fee is as reported by GM Authority and Electrek. Toyota lists the 2026 RAV4 Hybrid FWD from $31,900, plus a $1,450 destination fee. The gas Equinox ($28,600 MSRP) uses an estimated $1,995 destination fee.
- Efficiency and range: EPA ratings on fueleconomy.gov. Equinox EV FWD: 108 MPGe, 31 kWh/100 mi, 319 miles. RAV4 FWD: 43 mpg. Gas Equinox FWD: 27 mpg.
- Energy prices: gasoline $3.94/gal (AAA, Nov 2026); home electricity 18¢/kWh (EIA); public fast charging 48¢/kWh for 15% of charging. Both rise 2% a year.
- Financing: 10% down, 7% APR, 60 months.
- Estimates (replace them with your own quotes): insurance $2,300/yr for the EV and $2,000/yr for the gas models; maintenance $700, $900 and $1,100 a year; registration $220/yr for the EV (including a typical state EV fee) and $120/yr for the others; resale after 10 years 17% for the EV and 28% for the gas models.
Sources: Chevrolet: Equinox EV · GM Authority: 2027 Equinox EV pricing · Toyota: 2026 RAV4 · fueleconomy.gov: 2026 RAV4 · fueleconomy.gov: 2026 Chevrolet
Faisal is the founder and editor of EV vs Gas Car Cost. He builds the site’s ownership-cost calculators and reviews new cars with one question in mind: what will this car really cost to buy, finance, fuel and run? His reviews are based on manufacturer specifications, official fuel-economy and efficiency ratings, and public fuel and electricity price data, which he cites in every article.
