EV Break-Even Calculator

The break-even mileage is the total distance driven at which cumulative fuel and maintenance savings on the EV match the higher upfront purchase price compared to an equivalent gasoline vehicle. Inputs include price premium of the EV over the ICE alternative, annual fuel and maintenance savings per mile, applicable federal and state tax credits, and any insurance premium differences. This calculator solves for the mileage and years to break even at your actual annual mileage.

Yes, significantly. The federal EV tax credit of up to $7,500 for new vehicles and $4,000 for used vehicles under the Inflation Reduction Act reduces the effective price premium immediately, shortening the break-even period substantially. Income and MSRP eligibility limits apply. If you qualify, including the tax credit in your calculation can reduce break-even by one to two years. Consult a tax advisor to confirm your eligibility before purchase.

Yes, on average. EVs eliminate oil changes, spark plugs, timing belts, exhaust system components, and transmission service, which together account for a significant portion of ICE vehicle maintenance costs. AAA data estimate EV maintenance savings of $0.04 to $0.06 per mile compared to gasoline vehicles. EV brake wear is also reduced due to regenerative braking. However, tire costs may be higher for some EVs due to heavier weight and higher torque.

EV resale value has historically been more volatile than gasoline vehicles due to rapid technology changes, new model introductions, and federal incentive changes affecting new-car prices. Historically some EV models depreciated faster than comparable ICE vehicles, though this trend is shifting as EVs become mainstream. Use conservative depreciation assumptions in your break-even analysis. Sites like Kelley Blue Book and Edmunds publish current used EV values to benchmark realistic depreciation rates.