EV Ownership Cost & Lifetime Savings Calculator
Compare lifetime total cost of ownership (TCO) of electric versus petrol/diesel vehicles including fuel, charging, maintenance, depreciation, and tax incentives.
EV vs. Petrol Total Cost of Ownership Calculator
Compare lifetime ownership costs of Electric Vehicles versus Petrol/Diesel cars, including fuel vs charging, maintenance, tax credits, and resale value.
đēī¸Distance & Horizon
âŊ Petrol / Diesel Car Inputs
đ Electric Vehicle (EV) Inputs
Total savings over 5 years of ownership (15,000 km/yr).
What is the EV Ownership Cost & Lifetime Savings Calculator?
The EV Ownership Cost & Lifetime Savings Calculator allows drivers, fleet managers, and car buyers to compare the true Total Cost of Ownership (TCO) between an Electric Vehicle (EV) and a traditional Internal Combustion Engine (ICE) petrol/diesel car over 3, 5, 7, or 10 years.
While EVs often carry a higher upfront purchase price, lower running costs per kilometer/mile, government tax credits and purchase incentives, minimal oil/filter maintenance, and lower brake wear frequently make EVs significantly cheaper over their lifetime.
This tool evaluates upfront vehicle price differentials, government subsidies, fuel price vs electricity rate per kWh, energy efficiency (kWh/100km or MPG/MPGe), annual driving distance, scheduled maintenance savings, insurance differentials, and projected resale value retention.
How Does the EV Ownership Cost & Lifetime Savings Calculator Work?
1. Enter Purchase Prices & Tax Subsidies â Input purchase cost for ICE and EV, plus state/federal EV purchase incentives.
2. Set Driving Distance & Energy Rates â Input annual driving distance, petrol/diesel price per unit, fuel economy, electricity rate ($/kWh or âš/kWh), and EV efficiency.
3. Configure Maintenance, Insurance & Resale â Adjust annual maintenance cost, insurance premiums, and estimated resale value percentage after the ownership period.
4. View Lifetime Savings & Payback Distance â See total cost comparison, net EV savings, payback period (years & km/miles), and carbon emissions avoided.
Formula & Calculation Method
$$\text{ICE Total Cost} = \text{Price} + \left(\frac{\text{Distance}}{\text{ICE Efficiency}} \times \text{Fuel Price} + \text{ICE Maintenance} + \text{ICE Insurance}\right) \times \text{Years} - \text{ICE Resale}$$
$$\text{EV Total Cost} = (\text{Price} - \text{Incentives}) + \left(\frac{\text{Distance}}{100} \times \text{kWh/100km} \times \text{Electricity Rate} + \text{EV Maintenance} + \text{EV Insurance}\right) \times \text{Years} - \text{EV Resale}$$
Example Calculation
Example: 5-Year Ownership at 15,000 km/year
- ICE Petrol Car: $25,000 Purchase, $1.50/L, 12 km/L -> Fuel: $1,875/yr. Maint & Ins: $1,200/yr. Total 5-yr cost: $40,375 - $10,000 resale = $30,375
- Electric Vehicle: $33,000 Purchase - $4,000 Subsidies = $29,000 Net. Charging: $0.15/kWh, 15 kWh/100km -> Charging: $337.50/yr. Maint & Ins: $700/yr. Total 5-yr cost: $34,187 - $12,000 resale = $22,187
- Net 5-Year EV Savings: $8,188 saved with EV!
Frequently Asked Questions
$$\text{ICE Total Cost} = \text{Price} + \left(\frac{\text{Distance}}{\text{ICE Efficiency}} \times \text{Fuel Price} + \text{ICE Maintenance} + \text{ICE Insurance}\right) \times \text{Years} - \text{ICE Resale}$$ $$\text{EV Total Cost} = (\text{Price} - \text{Incentives}) + \left(\frac{\text{Distance}}{100} \times \text{kWh/100km} \times \text{Electricity Rate} + \text{EV Maintenance} + \text{EV Insurance}\right) \times \text{Years} - \text{EV Resale}$$
Disclaimer: This financial calculator is provided for educational and estimation purposes only. ProCalc is not a registered financial advisor or SEBI entity. Rates and tax rules may vary.