EV Savings Calculator

- May 10, 2025
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Compare the total cost of ownership between electric vehicles and petrol-powered vehicles, including purchase price, fuel/charging costs, maintenance, and more.

Vehicle Information

Purchase Costs

£
£
£
%
years
£

Usage & Efficiency

miles/year
years
miles/kWh
MPG

Energy & Fuel Costs

£ per kWh
£ per gallon
%
£ per kWh

Maintenance & Insurance

£ per year
£ per year
£ per year
£ per year

Resale Value

%
%

Advanced Options

%
%
£

About EV Savings

While electric vehicles often have higher upfront costs than comparable petrol-powered vehicles, they typically have lower operating costs over time. This calculator helps you understand the total cost of ownership and potential savings.

Key Cost Factors
  • Purchase Price: EVs typically cost more upfront but may qualify for tax incentives and rebates.
  • Fuel vs. Electricity: Charging an EV is significantly cheaper than buying petrol.
  • Maintenance: EVs have fewer moving parts and require less maintenance than petrol vehicles.
  • Insurance: EVs often have higher insurance premiums due to higher repair costs.
  • Depreciation: Different vehicles depreciate at different rates, affecting long-term value.
Break-Even Point

The break-even point is when the total cost of owning an EV becomes lower than owning a comparable petrol vehicle. This typically happens after several years of ownership, as the lower operating costs of EVs offset their higher purchase price.

Additional Considerations
  • Environmental benefits and reduced carbon footprint
  • Convenience of home charging versus petrol station visits
  • Local incentives and perks (HOV lane access, free parking, etc.)
  • Potential battery replacement costs for older EVs
  • Evolving technology and infrastructure for EVs

Understanding the EV Savings Calculator

The EV Savings Calculator helps you compare the costs of owning an electric vehicle (EV) versus a petrol car. It looks at different expenses, such as the purchase price, fuel costs, maintenance, and more. This tool is designed to show you potential savings over time, especially as electric vehicles become more popular.

Easy Vehicle Comparisons

You can easily select the models you want to compare. The calculator includes popular electric vehicles from brands like Tesla, Audi, and BMW. It also allows you to choose gas models, like Toyota and Ford. This feature makes it simple to see how costs stack up against each Other.

Calculating Purchase Costs

When you enter purchase prices, you’ll see how much you're spending upfront. The calculator considers any tax incentives or rebates for electric vehicles. This way, you can understand the real cost of getting an EV compared to a gas car. Here are a few key factors:

  • EV Purchase Price
  • Gas Vehicle Purchase Price
  • Tax Incentives

Assessing Fuel and Energy Expenses

The calculator also looks at fuel and energy costs. Charging an EV is often cheaper than refuelling a petrol car. You can input different rates for electricity and petrol, allowing the calculator to give you accurate estimates. These factors directly impact your budget over time.

Maintenance and Insurance Considerations

Another vital aspect of ownership is maintenance and insurance. Generally, EVs need less maintenance due to fewer moving parts. You can enter annual maintenance costs and insurance rates for both vehicles to see how these affect your overall expenses. Key considerations include:

  • Annual Maintenance Costs
  • Annual Insurance Costs

Understanding Resale Value

The resale value of your vehicle can significantly impact overall savings. The calculator helps you track depreciation rates for both EVs and gas vehicles. By estimating how much value each type of car retains over the years, you can get a clearer picture of long-term costs.

Advanced Options for detailed analysis

For those looking for a more thorough analysis, the calculator offers advanced options. You can adjust settings like inflation rates, home charger costs, and more. This ensures that all future costs are accounted for, giving you an even clearer view of your potential savings.

Visualising Your Savings

After entering all necessary information, the calculator presents results and comparisons in a clear, visual format. You can see your total savings, cost breakdowns, and even charts displaying cumulative costs. This makes it easier to understand your Financial future and decide what vehicle is best for you.