Total Cost of Ownership (TCO) Calculator
Compare Gasoline vs Electric Vehicle Ownership Cost
Common Parameters
Years
$/kWh
Gasoline Vehicle
$
MPG
$
$
$
$
Electric Vehicle
$
$
$
$
Gasoline Vehicle
Total Fuel Cost $12,500
Total Insurance $9,000
Total Maintenance $6,000
Depreciation $17,000
Total 5-Year Cost
$44,500
Electric Vehicle
Total Electricity Cost $4,200
Total Insurance $8,000
Total Maintenance $3,000
Depreciation $20,000
Total 5-Year Cost
$35,200
You Save with Electric Vehicle
$9,300
over 5 years
Total Cost of Ownership (TCO) Calculator – Introduction & User Guide
This Total Cost of Ownership (TCO) Calculator helps you compare the real long-term cost of owning a Gasoline vehicle versus an Electric vehicle. It calculates the total expenses over a chosen period (usually 5 years), including fuel/electricity, insurance, maintenance, and depreciation.
Key Features
| Feature | Description | Benefit |
|---|---|---|
| Gasoline vs Electric Comparison | Side-by-side 5-year cost analysis | Easy to compare both vehicle types |
| Fuel & Electricity Cost | Automatically calculates based on mileage & efficiency | Realistic energy expense estimation |
| Insurance & Maintenance | Includes annual recurring costs | More complete financial picture |
| Depreciation | Calculates value loss over time | Often the largest cost component |
| Total 5-Year Cost | Shows final total cost for both vehicles | Quick and clear decision support |
| Savings Summary | Highlights how much you save with an EV | Easy-to-understand result |
How to Use
| Step | Action | Details |
|---|---|---|
| 1 | Fill Common Parameters | Set ownership years, annual mileage, and electricity price |
| 2 | Enter Gasoline Vehicle data | Purchase price, MPG, gas price, insurance, maintenance, and expected resale value |
| 3 | Enter Electric Vehicle data | Purchase price, efficiency (mi/kWh), insurance, maintenance, and expected resale value |
| 4 | Click Calculate Total Cost of Ownership | View complete breakdown for both vehicles |
| 5 | Review Savings | See the total amount saved by choosing an EV |
Understanding the Results
Gasoline Vehicle Costs
| Cost Item | Description | Example (5 Years) |
|---|---|---|
| Total Fuel Cost | Cost of gasoline based on mileage and MPG | $12,500 |
| Total Insurance | Sum of annual insurance payments | $9,000 |
| Total Maintenance | Expected repair and service costs | $6,000 |
| Depreciation | Purchase price minus expected resale value | $17,000 |
| Total 5-Year Cost | Sum of all costs above | $44,500 |
Electric Vehicle Costs
| Cost Item | Description | Example (5 Years) |
|---|---|---|
| Total Electricity Cost | Cost of charging based on mileage and electricity rate | $4,200 |
| Total Insurance | Sum of annual insurance payments | $8,000 |
| Total Maintenance | Expected repair and service costs (usually lower) | $3,000 |
| Depreciation | Purchase price minus expected resale value | $20,000 |
| Total 5-Year Cost | Sum of all costs above | $35,200 |
Final Comparison
| Item | Gasoline Vehicle | Electric Vehicle | Difference |
|---|---|---|---|
| Total 5-Year Cost | $44,500 | $35,200 | -$9,300 |
| You Save with Electric Vehicle | — | — | $9,300 |
Tips for Best Results
| Tip | Recommendation |
|---|---|
| Use realistic resale values | EVs often retain value better than gasoline cars in recent years |
| Adjust annual mileage based on your actual driving | Higher mileage usually favors EVs |
| Check real insurance quotes for your area | EV insurance can sometimes be higher |
| Maintenance costs for EVs are generally lower | Especially after the warranty period |
| Results are estimates | Actual costs may vary depending on location, driving habits, and specific vehicle models |
This TCO Calculator gives you a much clearer financial comparison than simply looking at the purchase price. It helps you understand the true cost of owning a gasoline car versus an electric vehicle over time.
