Gas or electric? Start with your driveway.

It is possible for an electric car to cost less to power and still cost more to own. It is also possible for the opposite choice to waste money. Start with your situation instead of joining a team.

Price the miles first

For gas, divide annual miles by mpg and multiply by the gallon price. For electric, multiply annual miles by kWh per 100 miles, divide by 100 and multiply by the electricity rate. Use wall-energy consumption that includes charging losses. If you mostly charge away from home, use the rate you will actually pay there.

The DOE and EPA overview describes EV operating differences. Model-specific range and consumption should come from the vehicle's current documentation.

Then price the car

• Purchase price and expected resale value over the same ownership period.
• Financing, taxes and registration.
• Insurance quotes for each exact vehicle.
• Maintenance and likely repairs.
• Home charging equipment and installation, if needed.
• Public charging fees and the time your usual trips require.

Do not assume a rebate or tax benefit applies. Verify current eligibility before including it. Do not count both full purchase price and depreciation as separate costs.

Ask the ordinary-week questions

Where will you charge? Can that arrangement change? Does your longest regular trip fit comfortably, including seasonal conditions? If you rent, do you have permission and a practical charging option? A driveway with convenient charging and an apartment with none are different budgets.

Our calculator estimates energy cost only. It deliberately does not declare an overall winner. A lower fuel bill is one line in the decision.

Compare your energy costs

Editorial guidance and planning examples. External links on this version are ordinary links; no affiliate commissions are enabled.