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EV or not? Find out what it really costs.
📐 Methodology

evornot — True Cost of Car Ownership Calculator: compare the real multi-year cost of gas, hybrid, and electric vehicles.

Your driving life

A few quick facts help us calculate what ownership will really cost you.
Annual miles driven12,000 mi
How long will you keep this car?5 years
Do you own your home or control your parking?
Do you take road trips (100+ mi) a few times a year?
Pick your state and we'll pre-fill local gas & electricity prices, grid carbon intensity, and any state EV rebate — all editable later. Sources: EIA averages & EPA eGRID 2023. Rebates are estimates; income & vehicle-price limits vary by state, and federal credits ended in 2025.

Frequently asked questions

Is an electric car cheaper than gas?
It depends on your annual mileage, local electricity and gas prices, how long you keep the car, and the specific vehicles you're comparing. EVs usually cost more upfront and can depreciate faster, but save on fuel and maintenance. Run your own numbers above — the answer flips between gas, hybrid, and electric depending on your situation.
What is the true cost of car ownership?
It's more than the sticker price. True cost of ownership includes the purchase price, financing interest, fuel or electricity, insurance, maintenance and tires, and depreciation — the value the car loses over time. Depreciation is often the single largest cost and is almost never shown by dealers.
How long a period can I calculate?
Anywhere from 1 to 15 years. The "how long will you keep this car?" slider lets you model short-term ownership or the full life of the vehicle — costs like fuel, maintenance, and depreciation all scale with the period you choose.
How much does a hybrid cost to own versus a gas car?
Hybrids typically cost $3,000–$8,000 more to buy than a comparable gas car but save meaningfully on fuel. Over several years and tens of thousands of miles they often break even or come out ahead, especially when gas prices are high. The calculator shows the crossover for your exact numbers.
Are there still EV tax credits in 2026?
The federal EV tax credit was eliminated in 2025. Several states still offer rebates — for example Colorado, California, New York, Oregon, Maryland, and others. Pick your state above and evornot applies the current state incentive estimate automatically.

About evornot — True Cost of Car Ownership Calculator

evornot is a free, interactive web calculator that helps consumers compare the true total cost of owning a gasoline, hybrid, or electric vehicle side by side, over whatever period they plan to keep the car — anywhere from 1 to 15 years.

What this tool calculates

Data sources

Vehicle presets included

Gas: Toyota Camry LE, Honda Accord Sport, Ford F-150 XL, Honda Civic LX, Toyota RAV4 LE.

Hybrid: Toyota RAV4 Hybrid, Toyota Prius LE, Honda CR-V Hybrid, Toyota Camry Hybrid, Ford Escape Hybrid.

Electric: Tesla Model 3 RWD, Chevrolet Equinox EV, Ford Mustang Mach-E Select, Tesla Model Y RWD, Hyundai Ioniq 6 SE.

Frequently asked questions

Is an EV cheaper to own than a gas car?

It depends on annual mileage, local electricity rates, gas prices, purchase price, and depreciation. EVs typically save on fuel and maintenance but cost more upfront and often depreciate faster. This calculator lets you compare your specific scenario.

What is the single biggest hidden cost of car ownership?

Depreciation — the loss in vehicle value over time. A new car can lose 15–20% of its value annually. Over 5 years, this typically represents $15,000–$25,000 in lost value, making it larger than fuel costs for most drivers.

Are federal EV tax credits still available?

No. The federal EV tax credit was eliminated in 2025. Several US states still offer rebates — see the calculator for current state-level amounts.