Decision Guide · Total cost of ownership

EV vs ICE: Cost Comparison

EV: an electric vehicle, powered only by a battery and electric motor, charged from the grid.
ICE: an internal-combustion-engine vehicle, the conventional car that burns gasoline.

This tool compares those two drivetrains only; hybrids and plug-in hybrids, which pair an engine with a battery, are not included.

Units

Imperial Metric

EV break-even

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Adjust the inputs to calculate.

EV break-even · miles

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1 How you drive

Miles per year12,000

Years you'll keep it7

2 The two cars

EV price $ ICE car price $

EV amount financed $ ICE amount financed $

EV finance rate APR % ICE finance rate APR %

EV loan term yr ICE loan term yr

EV maintenance / yr $ ICE maintenance / yr $

EV insurance / yr $ ICE insurance / yr $

Leave amount financed at 0 for a cash purchase. Maintenance and insurance defaults are rough placeholders; replace with your own figures, since both vary widely by driver and model.

3 EV rebates at time of purchase

Rebate amount you qualify for $

Applied to the EV purchase price only. Tax incentives credited after purchase (claimed later on your tax return) are not included.

4 Energy prices

Electricity ¢/kWh ¢ Gasoline $/gallon $

Fine-tune efficiency & assumptions

EV efficiency mi/kWh ICE car MPG

Estimates, not quotes; registration is excluded since it varies more by you than by drivetrain.

Lifetime cost gap

Adjust the inputs to see which way it tips.

EV: Total Cost of Ownership-

ICE: Total Cost of Ownership-

Purchase Energy / fuel Maintenance Financing Insurance

What's driving it

Cost to fuel, per mile-

Fuel / energy over 7 yrs-

Maintenance gap-

Insurance gap (full period)-

Financing interest-

Sticker gap (after EV rebates)-

↺ reset to defaults