Car
The True Cost of Owning a Car: Beyond the Sticker Price
Owning a car costs over $12,000 per year on average. Here's the full breakdown of every cost -- depreciation, insurance, gas, maintenance, and more -- with 5-year TCO comparisons.
EV vs Gas Calculator
5-year TCO with fuel savings, tax credits, charging costs, battery degradation, insurance differences. Enter your commute + electricity rate.
EV vs Gas Calculator
Thinking about going electric? Let's see if the numbers make sense for your commute.
$
$20,000$120,000
$
$15,000$80,000
30
5100
30 miles/day — average American commute is about 30 miles round trip
The EV saves you $3,751 over 5 years -- and you'll spend $473/year on electricity vs $1,174/year on gas.
Here's what I'd tell a friend
You'll save $3,503 on fuel alone, plus $2,348 on maintenance (no oil changes!). The fuel savings cover the price premium in about 4 years. You'll also keep about 20,757 lbs of CO2 out of the atmosphere.
EV total cost of ownership
$37,010
$617/month
Gas car total cost of ownership
$40,760
$679/month
EV annual fuel cost
$473/year
Electricity for charging
Gas annual fuel cost
$1,174/year
Total fuel savings (EV)
$3,503
EV effective price (after credits)
$34,500
Includes $7,500 federal credit
EV maintenance total
$1,878
No oil changes, less brake wear
Gas maintenance total
$4,226
EV insurance total
$10,500
EVs typically cost $300-600/yr more to insure
Gas insurance total
$8,500
CO2 saved by going EV
20,757 lbs
That's like planting 432 trees
Fuel savings breakeven
4 years
When fuel savings cover the EV price premium
The Money Friend
The EV saves you $3,751 over 5 years -- and you'll spend $473/year on electricity vs $1,174/year on gas.
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This calculator provides estimates for informational purposes only and does not constitute financial advice. Actual costs may vary based on your creditworthiness, location, and lender. Consult a licensed financial advisor or mortgage professional before making financial decisions.
Interest rates, payments, and loan terms shown are examples for illustration purposes only and do not represent an offer to lend, a commitment to make a loan, or a guarantee of any specific rate or term. Actual rates and terms are determined by lenders based on your individual credit profile and may differ from examples shown.
Past performance and historical data do not guarantee future results. Equal Housing Opportunity.