EV vs Petrol: Total Cost of Ownership

Electric vehicles have far fewer moving parts than petrol engines — no oil changes, no spark plugs, no transmission fluid, no exhaust system. Studies consistently show EV maintenance costs are 30–50% lower than comparable petrol vehicles over 5 years.

Early EV models depreciated faster than petrol cars due to battery concerns and rapid model updates. More recent EVs (especially Tesla, Hyundai, and newer models) hold value comparably to petrol vehicles. The depreciation rate in this calculator applies equally to both — adjust if you have specific data.

A Level 2 home charger typically costs $500–$1,500 installed. This calculator doesn't include that one-time cost — add it to the EV purchase price if applicable to your situation.