Electric Vehicle Cost Calculator
The EV Cost Calculator compares the 5-year total cost of owning an electric vehicle versus an equivalent petrol car, including purchase price, fuel/charging, maintenance, insurance, and depreciation.
Educational estimate. Calculator results are for planning and information only, not financial, tax, medical, legal, or engineering advice. Verify important decisions with official sources or a qualified professional.
Electric Vehicle Cost Calculator
EV vs Petrol — Total Cost of Ownership
📐 Formula & Method
Total Cost of Ownership
EVs typically cost 40–70% less in fuel and 30–40% less in maintenance (no oil changes, fewer brake replacements). However higher purchase prices mean break-even typically occurs at 3–7 years depending on usage.
📋 How to Use
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1
Enter EV and petrol car purchase prices.
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2
Set annual distance and local energy/fuel prices.
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3
Enter efficiency figures for each vehicle.
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4
See 5-year total cost comparison and break-even mileage.
Are EVs Really Cheaper to Own?
While EVs cost more upfront, running costs are typically 50–70% lower. Electricity is cheaper per kilometre than petrol, and EVs have fewer moving parts meaning lower maintenance costs — no oil changes, coolant flushes, spark plugs, or transmission services.
The break-even point depends on your annual mileage, local electricity and fuel prices, and the price premium of the EV over its petrol equivalent. High-mileage drivers in high-fuel-cost markets like Australia and the UK typically break even within 3–4 years.
🔬 Methodology & Accuracy
Formula: Uses the standard mathematical formula shown in the Formula & Method section above. All computations run client-side in your browser — no data is sent to our servers.
Data sources: Tax bands, contribution limits and regulatory rates are taken from official US (IRS, SSA) and UK (HMRC, gov.uk) publications for the current tax year, and updated when bands change.
Last reviewed: January 2025 · Accuracy: Results are precise to two decimal places using IEEE-754 double-precision arithmetic. Intended for educational and planning use only.
For informational purposes only. Results are estimates based on the inputs and formulas provided. For financial, tax, medical, or legal decisions, consult a qualified professional. Rates and regulations change — always verify current figures with official sources.