EV Total Cost of Ownership Calculator
The full 5- or 10-year cost of owning an EV vs a gas car — purchase, fuel, maintenance, insurance, and depreciation in one number.
What goes into total cost of ownership
TCO is the full lifetime cost of a vehicle, not just its sticker price. The five components that actually move the needle:
- Net purchase price — price minus tax credits.
- Fuel / electricity — annual miles divided by efficiency, times the rate.
- Maintenance — EVs typically save $400-800/year; the calculator builds this in.
- Insurance — EVs run 10-25% higher; the “Extra insurance for EV” field is where you set that delta.
- Depreciation — the value of the car at the end of the comparison period, subtracted from the gross cost.
The formulas under the hood
Both vehicles are assumed kept the full period, not sold and rebought. Insurance, fuel and maintenance accrue every year; the depreciated value is recovered once at the end as resale.
How to read the result
The headline is the 5-year (or N-year) net cost of keeping each car — what you actually spent after subtracting what the car is still worth at the end. A lower number means cheaper to own.
This is a planning estimate. Real-world TCO depends on driving conditions, climate, exact insurance quotes, charger install, registration costs and luck. Use the result as a directional comparison, not a prediction. Pair it with the individual calculators ( EV vs Gas, Resale, Break-Even) for detail.
Frequently asked
What does Total Cost of Ownership include?
Five components over the comparison period: net purchase price (price minus credits), fuel/electricity, maintenance, insurance, and depreciation (final resale value subtracted from purchase). The calculator handles all of these in one place rather than across multiple tools.
How is depreciation calculated?
Using the mainstream-EV curve: roughly 22% loss in year one, then 10% per year for the EV. Gas cars use a similar curve at slightly slower year-one depreciation. The remaining value at the end of the comparison period is subtracted from the gross cost.
What if I will not qualify for the federal credit?
Set the credit field to $0. The EV will look more expensive — usually by enough to delay break-even by 2-3 years. The fuel and maintenance savings still win on long-enough horizons.
Why do the insurance defaults differ for EV vs gas?
Average EV insurance runs 10–25% higher than gas (specialized repair labor, expensive battery in collisions, higher MSRP). The default insurance numbers reflect that gap. Override with your actual quotes for a tighter number — see the EV Insurance guide for the full reasoning.
What time horizon should I use?
5 years is the standard auto comparison; 7-10 years reflects how long Americans typically keep cars. EVs generally come out ahead of gas at both horizons; the gap widens with longer holds because fuel/maintenance savings compound while depreciation flattens.
Does this include charger installation, registration, or sales tax?
No — those are state- and situation-specific. Typical extras: $700-2,300 home charger install (one-time), $300-1,500/year in registration and taxes in some states. Add them manually to either side of the comparison if they apply to your situation.