Guide
EV vs Gas: 5-Year Cost of Ownership
The sticker price isn't the full story. Over 5 years and 60,000 miles, fuel and maintenance savings can add up to thousands. Here's the math, broken down by vehicle class.
Assumptions
- 12,000 miles per year for 5 years
- Home electricity: $0.17/kWh (US residential average, EIA)
- DC fast charging: $0.43/kWh (blended public network average)
- Gas price: $3.30/gal (US average)
- Maintenance: $400/yr EV vs $1100/yr gas (AAA estimates)
By vehicle class
| Class | EV (home) | Gas car | 5-yr savings |
|---|---|---|---|
| Compact sedan | Tesla Model 3 LR $4,550 | Toyota Camry $11,688 | $7,138 |
| Compact SUV | Tesla Model Y LR $4,649 | Toyota RAV4 $12,100 | $7,451 |
| Full-size SUV | Rivian R1S $6,435 | Chevy Tahoe $16,500 | $10,065 |
| Pickup truck | Ford F-150 Lightning ER $6,435 | Ford F-150 EcoBoost $14,500 | $8,065 |
If you DC fast charge most of the time
Public fast charging at $0.43/kWh narrows the gap considerably — for a Tesla Model Y, the 5-year fuel cost roughly doubles vs charging at home. Apartment dwellers should factor in workplace and overnight Level 2 options to keep the EV math favorable.
What's not in this number
- Purchase price — varies widely by model
- Federal tax credit — ended Sept 30, 2025 (OBBBA repealed §30D and §25E). No federal credit on EVs acquired after that date.
- State rebates — $1,500–$7,500 in select states; see our state guide
- Insurance — typically 10-25% higher for EVs
- Depreciation — historically faster for EVs, narrowing
Get exact numbers for your ZIP
National averages are a starting point. Your local electricity and gas prices matter.