The least expensive car on the lot is not always the least expensive car to keep. To compare an electric vehicle (EV), a hybrid, and a gas car fairly, look beyond the sticker price to what you will spend—and what the vehicle may be worth—over the years you plan to own it. Your mileage, local energy prices, and access to charging can change the answer.
We recommend starting with a simple calculation: add the purchase price, financing costs, fuel or electricity, maintenance, insurance, and any charging equipment or installation. Subtract incentives you qualify for and your estimated resale value. Use the same ownership period and annual mileage for each car.
Compare vehicles of similar size and capability, too. A small hybrid and a large electric SUV may serve different needs, making their costs less useful as a head-to-head comparison. National averages can provide context, but your local rates, dealer prices, and insurance quotes will make the estimate more meaningful.
| Cost | EV | Hybrid | Gas car |
|---|---|---|---|
| Purchase price | Account for incentives you qualify for | Compare with similar gas models | May offer more lower-priced used options |
| Energy | Electricity rate and charging location matter | Gas use depends on fuel economy | Gas use depends on fuel economy |
| Maintenance | No routine engine oil changes | Engine service still applies | Engine service applies |
| Other costs | Include charging setup, insurance, and resale | Include insurance, repairs, and resale | Include insurance, repairs, and resale |
To estimate an EV’s annual charging cost, divide the miles you drive each year by the vehicle’s rated miles per kilowatt-hour, then multiply by your electricity price per kilowatt-hour. If the rating is expressed as kilowatt-hours per 100 miles, multiply your annual miles by that figure, divide by 100, and then multiply by the electricity price. Treat the result as a starting estimate: driving conditions and charging losses can affect the bill.
Home charging may be less expensive than relying on public fast chargers, depending on local rates and station prices. But if you need to buy equipment or pay for installation, include that upfront cost. An EV also avoids oil changes and some other routine engine work. It still needs tires, brakes, and other service, and you still need to budget for insurance and possible repairs.
A higher purchase price, costly public charging, an expensive installation, or an incentive you do not qualify for can narrow or erase an EV’s operating-cost advantage. For vehicle-specific energy estimates, you can compare ratings at FuelEconomy.gov. The U.S. Department of Energy’s electric vehicle information offers additional charging background.
A conventional hybrid runs on gasoline but can use less of it than a comparable gas-only car, particularly in stop-and-go driving. You do not plug in a conventional hybrid; it charges its battery while driving. That can make it appealing if you want to reduce gas spending without arranging home charging or planning around public stations.
Do not lump plug-in hybrids into the same calculation. A plug-in hybrid’s fuel use depends in part on how often you charge it and how many trips you complete using electricity. Both types still have an engine, so include engine-related maintenance. To see whether fuel savings justify a particular hybrid’s price premium, compare actual model prices and expected service costs—not just the powertrain labels.
A lower-priced gas car can come out ahead if you drive relatively few miles. With less annual driving, fuel or electricity savings have fewer miles over which to offset a higher purchase price. Limited access to affordable charging can also make an EV less economical for your routine.
Insurance and depreciation deserve their own estimates. Request quotes for the specific models and trims you are considering, then look at realistic resale estimates for the age and mileage you expect at sale. We would not assume that any one powertrain will always cost less to insure or hold its value best.
If you want a dedicated resource while weighing those trade-offs, our EV vs. Hybrid vs. Gas Car guide is available for $5.99. For passengers planning longer drives, we also carry in-ear headphones; they are a travel extra, not part of the vehicle cost comparison.
It can be, especially if you drive substantial mileage and have affordable home charging. Compare specific vehicles, upfront costs, local energy prices, insurance, and estimated resale values.
It depends on the price difference and how much you drive. Use the vehicles’ fuel-economy ratings, your annual mileage, and local gas prices to estimate annual fuel savings.
Yes. Include equipment and installation you expect to pay for, or account for public charging costs if that is how you plan to charge.
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