EV Total Cost of Ownership Calculator
EV total cost of ownership calculator for 2026. Compare an electric vehicle against a gas car on upfront price after the federal EV credit, fuel and electricity costs, maintenance, residual value, and total cost per mile to see your real savings and years to parity.
Enter Values
MSRP before any incentives
MSRP of the comparable gas vehicle
Section 30D credit, up to $7,500 for qualifying new EVs
One-time state, utility, or local incentive
How many years you plan to own the vehicle
US average is about 13,500 miles per year
Local gas price
Combined city/highway
Typical US residential rate. Public DC fast charging is higher
Tesla Model 3: ~4.0, Ford Mach-E: ~3.0, F-150 Lightning: ~2.0
Of net upfront, after holding period. Tesla holds 55%+, others 40 to 50%
Of sticker price, after holding period
Tires, cabin filter, brake fluid. EVs avoid oil changes and most engine work
Oil changes, brakes, transmission, exhaust
EV minus gas. EVs typically cost $100 to $400 more per year to insure
Result
Enter values above and click Calculate to see your result.
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Formula
How it works: The calculator builds the EV net upfront from sticker price minus federal and state incentives, then subtracts residual value at the end of your ownership horizon. Annual fuel cost is miles divided by efficiency (mpg for gas, miles per kWh for EV) multiplied by fuel price. Adding annual maintenance and insurance differences across the holding period gives true total cost of ownership for both vehicles.
Review and Methodology
This calculator runs locally in your browser. Inputs are converted into the units required by the formula, and the result is paired with supporting references so you can verify the method before using it for planning or estimates.
Worked Example
How to Compare EV vs Gas Total Cost of Ownership in 2026
Sticker price is misleading on EVs. The federal Clean Vehicle Credit takes up to $7,500 off most qualifying EVs at the point of sale, fuel costs are typically 60 to 70 percent lower per mile, and maintenance is roughly half. Once you stack 5 years of those savings, an EV that looks $6,000 more expensive on the lot often ends up $5,000 to $10,000 cheaper to own.
The calculator builds the picture from both sides. Net upfront is sticker price minus federal credit and state rebates. Residual value at the end of your holding period is subtracted because it is real money you recover when you sell or trade.
Annual fuel cost is miles divided by efficiency multiplied by fuel price. For a gas car that is miles divided by mpg times the gallon price. For an EV it is miles divided by miles per kWh times your electricity rate.
Add the per-year maintenance gap (EVs save $500 to $1,000) and any insurance difference (EVs typically cost $100 to $400 more), multiply by your holding years, and you have honest TCO for both.
The years-to-parity number is what most buyers actually want: how many years until the cumulative operating savings cover the upfront premium. Under 5 years is excellent and is now the norm for popular EV vs gas pairings in 2026.
- Net upfront = sticker minus federal credit minus state rebate.
- EV fuel runs $0.04 to $0.05 per mile at home charging vs $0.10 to $0.13 for gas.
- EV maintenance is typically half that of a gas car of the same class.
- Tesla holds 50 to 60% residual after 5 years; most other EVs land at 40 to 50%.
- Years to parity under 5 is the 2026 norm for popular EV vs gas pairings; expensive EVs and low-mileage drivers can stretch this out.
Pair this with the Solar Payback Calculator if you charge from home solar (the cost-per-mile drops to near zero), or the Circular TCO Calculator for a fully generic Linear vs Circular comparison on any large purchase.
You can also calculate changes using our Solar Payback Calculator, Circular TCO Calculator, Heat Pump Payback Calculator, Buy vs Rent vs Subscribe Calculator or ROI Calculator.
2026 Common EV vs Gas TCO Comparisons
Approximate 5-year cost differences using the federal $7,500 credit, 12,000 miles per year, $3.50 gas, $0.16 home electricity, and average maintenance gaps. Run your actual numbers above for precision.
| EV vs Gas Pair | Upfront Premium (after credit) | 5-Year EV Savings | Years to Parity |
|---|---|---|---|
| Tesla Model 3 vs Toyota Camry | $6,000 | $8,000 to $10,000 | 3 to 4 years |
| Hyundai Ioniq 5 vs Honda CR-V | $8,000 | $5,500 to $7,500 | 4 to 5 years |
| Ford F-150 Lightning vs F-150 XLT | $10,000 | $3,500 to $6,000 | 5 to 7 years |
| Chevy Equinox EV vs Equinox gas | $3,000 | $6,500 to $8,500 | 2 to 3 years |
| Rivian R1T vs Toyota Tacoma | $25,000 | Negative under 8 years | 8+ years |
| Used Tesla Model Y vs used RAV4 | -$2,000 (cheaper) | $7,000+ | Day one |
Note: Premium reflects MSRP minus the $7,500 federal credit where eligible. Used EVs in 2026 often beat both new and used gas cars on day one due to depreciation curves.
Frequently Asked Questions
How is EV total cost of ownership calculated?
TCO is the net upfront price (after federal and state EV credits) minus the residual value at the end of your ownership period, plus annual fuel, maintenance, and insurance costs multiplied by the number of years you plan to keep the vehicle. The same math is applied to a comparable gas car, and the difference is your true savings.
Is an EV cheaper than a gas car in 2026?
For most US drivers covering 10,000 to 15,000 miles per year and holding 5 or more years, yes. Federal credits of up to $7,500, fuel savings of $700 to $1,500 per year, and maintenance savings of $500 to $1,000 per year typically overcome the higher sticker price within 3 to 5 years. Lower mileage drivers and very short hold periods can flip the math.
Does the $7,500 federal EV tax credit still apply in 2026?
The Section 30D Clean Vehicle Credit applies to qualifying new EVs assembled in North America with battery and mineral sourcing rules. In 2026 most popular EVs from Tesla, Ford, GM, Hyundai, Honda, and Stellantis qualify for the full $7,500. The credit can be applied as a point-of-sale rebate at the dealer.
Why does EV residual value matter so much?
Residual value is what you can sell or trade the EV for at the end of your ownership period. Tesla currently leads with 50 to 60 percent residual after 5 years, while many other EVs hold 40 to 50 percent. Higher residual reduces effective TCO dramatically because it offsets a large portion of the upfront cost.
How much does it cost to charge an EV vs fill a gas tank?
A typical EV uses about 30 kWh per 100 miles, costing $4 to $5 at home electricity rates of $0.13 to $0.17 per kWh. The same 100 miles in a 30 mpg gas car at $3.50 per gallon costs about $11.67. Home charging cuts fuel cost by roughly 60 to 70 percent. Public DC fast charging is more expensive, often $0.40 to $0.55 per kWh.
Are EV maintenance costs really lower?
Yes, materially. EVs have no oil changes, no transmission service, no exhaust system, no spark plugs, and dramatically less brake wear thanks to regenerative braking. Annual maintenance averages $300 to $500 for an EV vs $900 to $1,500 for a comparable gas vehicle, per Consumer Reports and AAA studies.
What are the hidden costs of EV ownership?
Three to budget for: home charger installation ($500 to $2,500 one-time), insurance premiums ($100 to $400/yr more than a comparable gas car), and tire replacement (often more frequent due to higher torque and weight). The calculator includes the insurance gap and you can roll the charger cost into the EV upfront price for a more honest comparison.
Is it possible to embed the EV Total Cost of Ownership Calculator on another website?
Yes, embedding the EV Total Cost of Ownership Calculator is free. Hit the "Embed" button on this page, adjust the width, height, and theme, then grab the iframe code. It works on WordPress, Wix, Squarespace, Shopify, and plain HTML pages. No registration needed. Full instructions at calculory.com/services/embed-calculators.
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