Is an EV Actually Cheaper Than a Gas Car
Is an EV actually cheaper than a gas car in the US? Purchase, fuel, incentives, and total cost of ownership compared.
Whether an EV is actually cheaper than a gas car in the U.S. depends on purchase price, incentives, fuel/charging cost, and total cost of ownership over 5 years. Here's how to compare fairly.
TL;DR EVs often have higher purchase prices but lower fuel and maintenance cost; federal and state incentives can offset purchase. Depreciation can be steeper on some EVs. Compare total cost of ownership—not just sticker or fuel—over 5 years. Use autopremo.com total cost of ownership and gas vs electric calculator.Is an EV Actually Cheaper?
- Purchase — EVs often cost more than comparable gas cars; federal and state incentives can reduce effective price. Factor incentives into purchase cost.
- Fuel/charging — EVs usually cost less per mile to "fuel" (electricity vs gas); savings depend on local electricity rates and how you charge. Use autopremo.com gas vs electric.
- Maintenance — EVs typically have lower maintenance (no oil changes, fewer moving parts); that can save $500–$1,000+/year over gas.
- Depreciation — many EVs have depreciated faster than gas cars; that can offset fuel and maintenance savings. Check specific model with autopremo.com depreciation calculator.
- Insurance — EV insurance can be higher (expensive batteries); get a quote before you assume savings.
How to Compare
Use total cost of ownership over 5 years: purchase (after incentives) + depreciation + fuel/charging + insurance + maintenance. Use autopremo.com total cost of ownership and gas vs electric calculator. Compare the exact EV and gas car you're considering—same size, same use case. Sometimes the EV is cheaper; sometimes the gas car is. Run the numbers.
Get total cost at autopremo.com.Bottom Line
An EV can be cheaper than a gas car when incentives, lower fuel and maintenance cost, and your miles and electricity rates are factored in—but depreciation and insurance can offset that. Compare total cost of ownership. Use autopremo.com to see if an EV is actually cheaper for you.