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Cheaper to fuel and maintain; usually pricier to insure; faster to lose value. Here’s each piece with its source.
| Cost | EV vs gas |
|---|---|
| Energy (12,000 mi/yr) | EV vs gas:~$725 charging at home vs ~$1,792 for a 30-mpg gas car |
| Energy, public charging only | EV vs gas:~$1,663 — close to gas |
| Insurance | EV vs gas:~18% more for 2024-and-newer EVs (Insurify, June 2026) |
| Depreciation (5 years) | EV vs gas:57.2% for EVs vs 41.8% for all cars bought new ~2021 (iSeeCars 2026 study, sales Mar 2025–Feb 2026) |
Energy uses US averages: home 18.31¢/kWh (EIA, Jul 2026), public 42¢/kWh and gas $4.48 (AAA, Sep 24, 2026), and our assumption of a typical EV at 30 kWh/100 mi plus 10% charging losses.
Consumer Reports’ 2020 study found EV owners spent about half as much on repair and maintenance: 3.1¢ a mile against 6.1¢ for gas cars over the car’s life.
Separately, the Department of Energy estimated in 2021 that scheduled maintenance costs 6.1¢ a mile for an EV and 10.1¢ for a gas car.
The federal EV credit ended for cars acquired after Sep 30, 2025, and the home-charger credit for equipment placed in service after Jun 30, 2026. A new car-loan interest deduction and some state programs remain.
Run your own numbers