Are EVs cheaper to own overall?

For many drivers, yes. While EVs cost more upfront, lower fuel (charging), maintenance, and tax costs mean they often break even within 3-5 years. High-mileage drivers benefit most from the lower per-mile running costs.

How much cheaper is EV maintenance?

EVs have around 60% lower maintenance costs than petrol/diesel cars. No oil changes, fewer brake replacements (regenerative braking), no exhaust system, no clutch, and fewer moving parts. Annual servicing is simpler and cheaper.

Does battery degradation affect costs?

Yes, as the battery degrades (typically 2-3% per year), the car becomes slightly less efficient, increasing charging costs over time. However, modern batteries are very durable and the effect is modest over a typical 5-year ownership period.

What about home vs public charging costs?

Home charging on a standard tariff costs around 24p/kWh, while public rapid chargers can cost 60-80p/kWh. The proportion of home vs public charging significantly affects your total running costs. Most EV owners do 70-90% of charging at home.

How much CO2 does switching to an EV save?

A typical petrol car emits about 2.31 kg CO2 per litre of fuel burned. An average UK driver switching to an EV saves approximately 1.5-2.5 tonnes of CO2 per year, depending on mileage and the carbon intensity of the electricity grid.

CarCalcs

EV Total Cost of Ownership Calculator

Compare the total cost of owning an EV versus a petrol or diesel car over any period.

Annual Mileage

Total miles driven per year

Ownership Period

How long you plan to keep the vehicle

Electric Vehicle

EV Purchase Price

Amount in pounds sterling

EV Efficiency

Ev efficiency in mi/kWh

Electricity Rate (home)

Electricity cost per kWh

Petrol/Diesel Vehicle

ICE Purchase Price

Amount in pounds sterling

Fuel Economy

Fuel economy in miles per gallon

Fuel Price

Current price of fuel

How We Calculate This

This calculator provides a comprehensive total cost of ownership comparison between EVs and ICE vehicles.

What Is Included

Purchase price: Full vehicle cost
Fuel/charging: Based on efficiency, mileage, and energy costs
Maintenance: EV factor applied (default 0.6x ICE costs)
Insurance: Annual premiums for each vehicle
Battery degradation: Reduces EV efficiency over time

Frequently Asked Questions

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Last updated: March 2026

All calculations are estimates. Actual figures may vary based on driving conditions, vehicle specifications, and other factors.