In 2026, an EV that costs $10,000 more than a comparable gas car costs about $9,000 more to own over five years, even though it saves about $3,400 on fuel, maintenance and insurance. Depreciation, not fuel, decides the result. The $7,500 federal EV credit ended for vehicles acquired after September 30, 2025, so the full sticker gap now falls on the buyer. An EV comes out ahead when the price gap is small, you charge mostly at home and gas is expensive.
This guide compares a $42,000 mid-size EV with a $32,000 mid-size gas sedan, both driven 15,000 miles a year for five years and financed. Every cost is itemized with its source, so you can swap in your own quotes. The prices, incentives and tax rules are for the United States; readers elsewhere can reuse the method with local fuel, electricity and vehicle prices.
Assumptions and sources
| Input | Value | Source or basis |
|---|---|---|
| Vehicles | $42,000 EV, $32,000 gas sedan | Illustrative example; use your own quotes |
| Mileage | 15,000 mi/yr for 5 years (75,000 mi) | Assumption |
| Gasoline | $3.88/gal at 32 mpg | EIA monthly U.S. average, Jan–Aug 2026 (all grades); AAA reported $4.48 in late September |
| Home electricity | 18.3¢/kWh | EIA Electric Power Monthly, Table 5.6.A, U.S. residential average, July 2026 |
| Public DC fast charging | 54¢/kWh; 30% of the EV’s energy | Paren Q2 2026 average of 53.8¢/kWh; the 30% share is an assumption |
| EV efficiency | 3.5 miles per kWh drawn from the grid | Assumption; varies by model |
| Maintenance | 6.1¢/mi EV, 10.1¢/mi gas | DOE / Argonne National Laboratory, scheduled maintenance |
| Insurance | EV +$500/yr | Assumption within published estimates (see below) |
| 5-year depreciation | EV 57.2%, gas 41.8% | iSeeCars 2026 study: EV average and all-vehicle average, the latter used as a gas-car proxy |
| Financing | 6.5% APR, 60 months, 100% financed | Illustrative |
| Federal credits | None | IRS |
Prices are held flat for five years. Taxes, registration and state incentives are not included.