EV vs Petrol Cost Comparison
See the full picture — purchase price, fuel, insurance and maintenance — over 10 years. Find out exactly when an EV pays off.
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Your Driving
Annual Running Costs
Electric Vehicle vs Petrol/Gas Vehicle
Electric Vehicle
Petrol/Gas Vehicle
You save US$668/year with an EV
Total Cost of Ownership over 10 Years
Including purchase price, fuel, insurance and maintenance
The EV does not reach break-even within 10 years at this mileage
5-Year Ownership Cost Breakdown
| Item | Electric (EV) | Petrol / ICE | Saving |
|---|---|---|---|
| Purchase price | US$45,000 | US$28,400 | — |
| Fuel (5 years) | US$2,730 | US$8,320 | US$5,590 |
| Insurance (5 years) | US$10,000 | US$6,000 | -US$4,000 |
| Maintenance (5 years) | US$2,000 | US$3,750 | US$1,750 |
| 5-year total | US$59,730 | US$46,470 | US$13,260 * |
Things to Consider
Charging convenience
Home charging overnight costs less than public fast charging and is convenient for most drivers. Longer journeys require planning around charging stops, with public charging networks rapidly expanding.
Environmental impact
EVs produce zero tailpipe emissions. Lifetime CO₂ depends on your electricity grid mix — in countries with high renewable energy, EVs are significantly cleaner over their lifetime.
Road tax & incentives
Many regions offer EV purchase incentives, reduced road tax, and lower congestion charges. Check your local government website for current schemes.
Battery longevity
Modern EV batteries are engineered to last 300,000+ miles. Real-world data shows less than 10% capacity loss after 100,000 miles with good charging habits. Most are covered by an 8-year manufacturer warranty.
EV vs petrol: the 10-year cost breakdown
A fair comparison has to look past the sticker price. Over 10 years, the total cost of ownership adds up purchase price, fuel or electricity, servicing and maintenance, insurance, and any tax incentives or company car benefits — then subtracts what each car is likely to be worth at the end. Electricity is consistently cheaper than petrol or diesel per mile, especially charged at home, and EVs typically cost less to service thanks to fewer moving parts and longer-lasting brakes. Those savings compound: a Nissan Leaf or a VW ID.3 charged mostly at home can save a driver doing 10,000 miles a year well over £1,000 (or $1,000+) in fuel costs alone compared with an equivalent petrol car, before servicing savings are even counted.
Does an EV lose value faster than a petrol car?
Early EVs did depreciate faster than petrol equivalents, largely because buyers were nervous about battery longevity and rapid year-on-year improvements in range and technology made older models feel dated quickly. That gap has narrowed significantly as battery chemistry has matured and warranty terms have lengthened, and it now varies a lot by model — some EVs from Tesla, Hyundai and Kia hold value competitively with their petrol counterparts, while others still depreciate faster. The single biggest driver of resale value for any individual used EV is verified battery health — see the valuation tool for how that plays into what a specific car is worth.
Where EVs save the most on servicing
With no engine oil, spark plugs, timing belt, exhaust or multi-speed transmission to maintain, routine EV servicing is largely limited to tyres, cabin filters, brake fluid and the occasional software update — items that are cheap and infrequent compared with a full petrol service schedule. Regenerative braking, standard on virtually every EV, also means brake pads and discs typically last two to three times longer than on an equivalent petrol car, since the motor handles most day-to-day deceleration. The main additional cost unique to EVs is eventual battery health, which is exactly what the battery health calculator exists to track.