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EV vs Gas Cost

The $7,500 credit is gone. Home charging is the subsidy now.

EV math changed in 2026: the federal $7,500 new-EV and $4,000 used-EV credits ended September 30, 2025, and most comparison tools still quote them. This calculator runs the real post-credit math — the price premium against what home charging actually saves per mile versus gasoline, plus the maintenance gap — and tells you the breakeven year and the 10-year total for both.

Why people use this

Car shoppers use it after the dealer quote, when the EV premium is a real number: with the federal credit gone since late 2025, the case rests on home-charging math and maintenance, and the breakeven year decides whether the premium is an investment or a donation.

How it works

1. Enter both purchase prices — comparable trims, not base-vs-loaded.
2. Enter your annual miles, the EV's efficiency, and your home electricity rate.
3. Enter the gas car's MPG and your local gas price.
4. Set maintenance estimates (EVs run 40–60% cheaper: no oil, fewer brakes).
5. Read the breakeven year, annual savings, and 10-year totals.

Common questions

Is there still a federal EV tax credit in 2026?

No. The $7,500 new-EV credit (§30D) and $4,000 used-EV credit (§25E) ended for vehicles acquired after September 30, 2025, under OBBBA, and the home-charger credit (§30C) ended June 30, 2026. What remains: state rebates (roughly $1,500–$6,000 depending on state and income), utility charger rebates, and time-of-use electricity rates. OBBBA's new auto-loan interest deduction applies to EVs and gas cars equally, so it doesn't change the comparison.

How long until an EV pays for itself?

Example: a $45,000 EV against a $38,000 gas car, 12,000 miles/yr, 30 kWh/100mi at 17¢ home rate vs 30 MPG at $3.40/gal, $400 vs $1,000 maintenance. Fuel: $612 vs $1,360/yr; total savings $1,348/yr; the $7,000 premium breaks even in 5.2 years and the EV is $6,480 ahead at year 10. Charge on a 12¢ off-peak rate and breakeven drops to 4 years; charge mostly at public fast chargers and it can vanish entirely.

What is the hidden variable in EV vs gas math?

Where you charge. Home Level 2 at the average residential rate costs 4–6¢/mile; public DC fast charging runs 10–15¢/mile — gasoline territory. The EV case is strong for homeowners with a driveway and weak for apartment dwellers dependent on public charging. Also watch state EV registration surcharges ($50–$225/yr in most states to replace gas tax) and insurance, which runs 10–20% higher on EVs — neither is in this tool's defaults, so add them to the maintenance fields if they apply.

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