Cost comparison

EV vs. gas: the honest cost comparison

Almost every "EV savings" calculator on the internet uses inflated gas prices and the cheapest possible electricity rate. The math below uses your actual numbers, so the answer is real.

What the calculator leaves out

Fuel cost is the easy part. Three other line items move the needle and most comparisons skip them:

• Maintenance. EVs have no oil changes, no spark plugs, no transmission fluid, and brakes that last twice as long thanks to regen. AAA estimates EVs cost about $330/yr less in maintenance than comparable gas cars.
• Manufacturer discounts and state incentives. The $7,500 federal EV tax credit ended September 30, 2025, but most automakers now offer $7,500–$10,000 in cash discounts to replace it. State credits (CA, CO, NJ, MA, etc.) still stack on top, plus the federal home charger credit (30% up to $1,000 through June 30, 2026). Full 2026 incentive landscape →
• Resale. EV resale was brutal in 2023–24 as the market reset. By 2026 most models are tracking close to gas-car depreciation curves — but check the specific model. Tesla and Hyundai/Kia hold value best.

The case where EVs cost more

If you have to rely on public DC fast charging instead of charging at home, the math flips. Fast charging runs $0.40–$0.60 per kWh, vs. $0.10–$0.15 at home. At those rates, EV fueling can cost more than gas per mile. This is the single biggest factor in whether an EV makes financial sense — see the quiz to check your situation.