Gas vs Electric Car Calculator

Gas vs. Electric Car Cost Calculator

Compare the total ownership costs of a gasoline-powered car versus an electric vehicle over a specified period.

Gas Car Details

Electric Car Details

General Driving Details

Understanding the True Cost: Gas vs. Electric Cars

Deciding between a gasoline-powered car and an electric vehicle (EV) involves more than just the sticker price. While EVs often have a higher initial purchase cost, their long-term running and maintenance expenses can lead to significant savings. This calculator helps you compare the total cost of ownership over a specified period, taking into account various factors.

Key Factors in the Comparison

To make an informed decision, it's crucial to consider several financial aspects:

• Purchase Price: This is the upfront cost of the vehicle. EVs traditionally have higher MSRPs, but this gap is narrowing.
• Fuel/Electricity Costs: This is often the biggest differentiator. Gasoline prices fluctuate, and gas cars consume fuel based on their Miles Per Gallon (MPG). EVs consume electricity, and their efficiency is measured in Miles per kWh. Electricity prices are generally more stable and often lower per mile than gasoline.
• Maintenance Costs: EVs typically have fewer moving parts (no engine oil changes, spark plugs, timing belts, etc.), leading to lower routine maintenance costs compared to internal combustion engine (ICE) vehicles.
• Government Incentives & Tax Credits: Many governments offer significant tax credits, rebates, or other incentives for purchasing new (and sometimes used) electric vehicles to encourage adoption. These can substantially reduce the effective purchase price of an EV.
• Annual Miles Driven: The more you drive, the more impact fuel/electricity costs will have on your total ownership cost. High-mileage drivers often see greater savings with EVs.
• Ownership Period: The longer you own the car, the more the cumulative savings from lower running costs can offset a higher initial EV purchase price.

How the Calculator Works

Our Gas vs. Electric Car Cost Calculator estimates the total cost of ownership for both types of vehicles over your specified period. It considers:

• Gas Car Total Cost: Initial purchase price + (annual miles / MPG * gas price per gallon * ownership period) + (annual maintenance * ownership period).
• Electric Car Total Cost: (Initial purchase price – EV tax credit) + (annual miles / miles per kWh * electricity price per kWh * ownership period) + (annual maintenance * ownership period).

By comparing these two totals, the calculator reveals which option is more cost-effective for your specific driving habits and local prices.

Example Scenario:

Let's consider a 5-year ownership period with 12,000 annual miles:

• Gas Car:
  • Purchase Price: $30,000
  • Gas Price: $3.50/gallon
  • Efficiency: 30 MPG
  • Annual Maintenance: $800
• Electric Car:
  • Purchase Price: $40,000
  • Electricity Price: $0.15/kWh
  • Efficiency: 3.5 Miles/kWh
  • Annual Maintenance: $400
  • EV Tax Credit: $7,500

Using these figures, the calculator would show:

• Gas Car Total Cost (5 years): $30,000 (purchase) + ($12,000/30 * $3.50 * 5 years = $7,000 fuel) + ($800 * 5 years = $4,000 maintenance) = $41,000
• Electric Car Total Cost (5 years): ($40,000 – $7,500 = $32,500 effective purchase) + ($12,000/3.5 * $0.15 * 5 years = $2,571 fuel) + ($400 * 5 years = $2,000 maintenance) = $37,071

In this example, the Electric Car would save approximately $3,929 over 5 years, despite a higher initial sticker price.

Beyond the Numbers: Environmental Impact and Driving Experience

While this calculator focuses on financial costs, it's worth noting other benefits of EVs:

• Environmental Benefits: EVs produce zero tailpipe emissions, contributing to cleaner air and a reduced carbon footprint, especially when charged with renewable energy.
• Driving Experience: EVs offer instant torque, quiet operation, and a smooth driving experience.
• Convenience: The ability to "fuel up" at home overnight can be a significant convenience for many drivers.

Use this calculator as a starting point to understand the financial implications and make a decision that aligns with your budget and values.

$" + Math.abs(costDifference).toFixed(2) + "

$" + Math.abs(costDifference).toFixed(2) + "

Cost Comparison Over " + ownershipPeriod + " Years

Gas Car Total Cost:

Electric Car Total Cost:

" + savingsMessage + "

Detailed Breakdown:

Gas Car:

" + "
• Initial Purchase: $" + gasCarPrice.toFixed(2) + "
" + "
• Total Fuel Cost: $" + gasCarTotalFuelCost.toFixed(2) + "
" + "
• Total Maintenance: $" + gasCarTotalMaintenanceCost.toFixed(2) + "
" + "

Electric Car:

" + "
• Effective Purchase (after credit): $" + electricCarEffectivePurchasePrice.toFixed(2) + "
" + "
• Total Electricity Cost: $" + electricCarTotalElectricityCost.toFixed(2) + "
" + "
• Total Maintenance: $" + electricCarTotalMaintenanceCost.toFixed(2) + "
" + "