EV vs Gas 5-Year Cost Calculator

How the math works

We compute:

• Fuel: Miles × (1 / MPG or mi/kWh) × price, inflated by year.
• Maintenance: Your annual inputs × 5 years.
• Depreciation: Gas keeps ~55% after 5 yr, EV keeps ~50% (improving every year).
• TCO: Purchase price (minus incentive) + running costs − residual value.

Why EV depreciation is improving

Pre-2023 EVs depreciated faster than gas cars because buyers worried about battery longevity. That's reversed: 8-10 year battery warranties, proven LFP chemistry, and range-rated resale values have pushed 5-year depreciation nearly in line with internal-combustion cars. For 2026 models, plan on 45-55% value retention.

What's the real "fuel cost" of an EV?

At the national average of $0.17/kWh and 3.5 mi/kWh efficiency, an EV costs about $0.049/mi to "fuel." A 28-MPG gas car at $3.50/gal costs $0.125/mi. That's 2.5x cheaper per mile. If you charge off solar you'd install anyway, it's closer to $0.02/mi.