Calculator Inputs
Example Data Table
| Scenario | Ownership Years | Annual Miles | EV Total Cost | ICE Total Cost | Lower Cost Option |
|---|---|---|---|---|---|
| Urban Commuter | 8 | 10,000 | $43,980 | $52,420 | EV |
| Family Driver | 7 | 14,500 | $55,760 | $63,880 | EV |
| Highway Heavy Use | 6 | 22,000 | $61,450 | $74,390 | EV |
| Low Mileage Owner | 5 | 7,500 | $36,910 | $38,770 | EV |
Formula Used
1. Net Purchase Cost
Net Purchase Cost = Purchase Price − Incentives
2. EV Annual Energy Cost
EV Annual Energy Cost = (Annual Miles ÷ 100) × kWh per 100 Miles × Weighted Electricity Rate
3. Weighted Electricity Rate
Weighted Electricity Rate = Home Rate × [1 + (Public Charging Share × Public Charging Markup)]
4. ICE Annual Fuel Cost
ICE Annual Fuel Cost = (Annual Miles ÷ MPG) × Gas Price
5. Annual Operating Cost
Annual Operating Cost = Energy or Fuel + Maintenance + Insurance + Registration + Extra Annual Fees
6. Depreciation Cost
Depreciation = Net Purchase Cost − Resale Value
7. Loan Interest Estimate
Loan Interest Estimate = Net Purchase Cost × Interest Rate × (Loan Years ÷ 2)
8. Total Ownership Cost
Total Cost = Depreciation + (Annual Operating Cost × Ownership Years) + Loan Interest Estimate
9. Cost Per Mile
Cost Per Mile = Total Ownership Cost ÷ (Annual Miles × Ownership Years)
10. Break-Even Estimate
Break-Even Years = Upfront Price Difference ÷ Annual Operating Savings
How to Use This Calculator
- Enter the number of years you expect to own each vehicle.
- Add your expected annual miles driven.
- Fill in EV purchase price, incentives, and expected resale value.
- Enter EV charging efficiency and electricity cost details.
- Provide EV yearly maintenance, insurance, registration, and fees.
- Fill in ICE purchase price, resale value, fuel economy, and gas price.
- Enter ICE maintenance, insurance, registration, and extra annual fees.
- Press Compare Ownership Costs to view the result summary.
- Review the graph and year table for cumulative cost trends.
- Export the comparison using the CSV or PDF buttons.
FAQs
1. What does this calculator compare?
It compares long-term ownership costs for an electric vehicle and a gasoline vehicle. It includes depreciation, energy or fuel, maintenance, insurance, registration, financing, and optional yearly fees.
2. Why is depreciation included?
Depreciation captures the value lost between purchase and resale. It is often one of the largest ownership costs, so excluding it can make cost comparisons misleading.
3. How is EV charging cost estimated?
The calculator uses kWh per 100 miles, annual miles, and electricity rate. It also adjusts the rate when some charging happens at public stations with a markup.
4. How is gasoline cost estimated?
Gasoline cost is calculated from annual miles, vehicle fuel economy, and fuel price per gallon. Higher mileage and lower MPG usually increase total ownership cost quickly.
5. What does break-even mean here?
Break-even shows when EV operating savings offset any higher upfront purchase cost. It helps estimate how long ownership must continue before the EV becomes the cheaper option.
6. Is loan interest exact?
No. This model uses a simple estimate for ownership planning. For exact loan totals, use your lender amortization schedule and replace the estimate with real interest paid.
7. Can I use local taxes and special fees?
Yes. Add recurring local charges in the extra annual fee fields. This is useful for EV road taxes, emissions fees, or other ownership charges.
8. Which input matters most?
Usually depreciation, annual mileage, energy or fuel prices, and maintenance differences matter most. Changing those values can significantly change lifetime cost and break-even timing.