EV Savings Calculator
An electric car usually costs more to buy and less to run. Put in your own numbers and this tool compares an EV with a petrol car over the years you keep it, so you can see the saving per year, when you break even, and what you are left with at the end.
The petrol car you are comparing
Ownership
Estimate. It ignores depreciation, financing and purchase incentives, which vary a lot by market and model.
How it works
What makes an EV cheaper, or not, to own
An electric car pulls in two directions on cost. It usually costs more to buy than the equivalent petrol model, so you start in the red. Then it claws that money back every year, because electricity to cover a given distance costs less than petrol, and an EV needs less servicing. The question is never just the sticker price or just the fuel bill. It is whether the yearly saving adds up to more than the extra you paid, over the time you actually own the car. That is the gap this calculator measures, and it is also the heart of the buy versus lease decision.
Break-even, explained
Break-even is the moment the EV has saved you back the extra you paid for it. The maths is simple: take the extra upfront cost and divide it by the saving you make each year on fuel and maintenance. Pay 5,000 more and save around 1,200 a year, and you are even in roughly four years. Everything after that is money in your pocket. Drive more miles, or pay a high petrol price, and you reach that point sooner. Drive very little, or pay a steep electricity rate, and it takes longer, which is exactly why running your own numbers beats any rule of thumb. The day-to-day energy side of this sits in our charging cost calculator.
What this calculator leaves out
To stay honest, here is what is not in the figure. Depreciation is the big one: cars lose value at different rates, and an EV that holds its value well or badly can swing the real cost more than fuel ever will. Purchase incentives and tax breaks come and go and differ by country, so they are left out rather than guessed. Financing interest, insurance and home charger installation are not counted either. Treat the result as a clear read on running costs, then layer your local incentives and resale expectations on top. If you are still choosing a car, our pick of the best EVs and the wider guide to buying an EV are the next stops.
Frequently asked questions
Is an electric car really cheaper than a petrol car?
Often yes over the years you keep it, but not always on day one. An EV usually costs more to buy and less to run. Whether it works out cheaper depends on how far you drive, your electricity and petrol prices, and how long you keep the car. The calculator above puts your own numbers in so you can see the answer for your situation.
How many years until an EV pays for itself?
That is the break-even point: the extra you pay upfront divided by what you save each year on fuel and maintenance. With typical numbers it lands somewhere around three to five years, sooner if you drive a lot or petrol is expensive, later if your mileage is low or you pay a high electricity rate.
Do electric cars cost less to maintain?
Usually yes. An EV has no oil changes, no spark plugs, no exhaust and fewer moving parts, and regenerative braking means brake pads last longer. Tyres, insurance and cabin filters still cost money, so the saving is real but not total. The maintenance field above lets you set a figure that matches your own expectations.
Keep reading
Should You Buy or Lease an Electric Car?
The upfront-versus-monthly trade-off, and how depreciation tips the decision either way.Read guide
EV Charging Cost Calculator
Drill into the energy side: what charging costs per 100 miles, per month and per year.Open tool