Electric vs Petrol Lifetime Cost Calculator
Total cost of EV vs petrol over full ownership.
Compare lifetime cost of EV vs petrol vehicle including purchase, fuel/electricity, and maintenance over ownership years.
What this tool does
This calculator models the total cost of owning an electric vehicle versus a petrol vehicle over your full ownership period. It combines the upfront purchase price of each vehicle with ongoing running costs—fuel, electricity, maintenance, and related expenses—scaled across your annual mileage and years of ownership. The result shows the lifetime cost for each option and the difference between them, helping you understand how purchase price, mileage patterns, and per-mile operating costs interact over time. The calculation assumes consistent annual mileage and per-mile costs throughout the ownership period. Actual costs vary based on driving habits, energy prices, maintenance needs, and local conditions. This tool illustrates relative cost differences for educational purposes and does not account for resale value, financing charges, or tax incentives.
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Formula Used
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Disclaimer
Results are estimates for educational purposes only. They do not constitute financial advice. Consult a qualified professional before making financial decisions.
EV vs petrol lifetime cost comparison shifts with each year as EV prices fall and electricity prices vary. Typical 2026: EV 35,000-45,000, petrol equivalent 25,000-35,000. EV running cost 4-6p/mile electricity vs 12-18p/mile petrol. Maintenance 30-50% lower on EV (no oil, fewer moving parts).
How to use it
Input EV price, petrol price, annual mileage, electricity cost per mile, petrol cost per mile, and ownership years. The tool shows lifetime cost of each.
What the result means
Lifetime cost includes purchase plus running. Cheaper option is winner. EV produces a lower lifetime cost than petrol at higher mileages (savings compound) under the inputs tested; petrol produces a lower lifetime cost at lower mileages.
Run it with sensible defaults
Using ev price of 38,000, petrol vehicle price of 30,000, annual mileage of 10,000, ev cost per mile of 0.05, the calculation works out to Petrol. The defaults are meant as a starting point, not a recommendation.
The levers in this calculation
The inputs — EV Price, Petrol Vehicle Price, Annual Mileage, EV Cost Per Mile, and Petrol Cost Per Mile — do not pull with equal force. Two inputs usually tip the answer one way or the other. Identify which ones matter most by flipping each value past a round threshold and watching whether the option with the lower calculated total changes.
How the math works
Lifetime cost = purchase + (annual mileage × cost per mile × ownership years). Lower lifetime wins.
Beyond the number
Carbon, health, and local air quality don't show up on the calculator but often drive the decision. The financial figure is a lower bound on the value; the rest is whatever you'd pay for the non-financial benefits.
What this doesn't capture
Carbon reduction, health benefits, and local air quality have real value the financial figure doesn't price. The calculation gives the money side honestly; for the full picture, note the non-financial benefits alongside.
Over 8 years years and 10,000 miles annual mileage, the total lifetime cost difference is Petrol.
Inputs
This example uses typical values for illustration. Adjust the inputs above to match a specific situation and see how the result changes.
Sources & Methodology
Methodology
The calculator computes lifetime ownership cost for each vehicle type by combining purchase price with operating expenses over the ownership period. For each vehicle, it multiplies annual mileage by the cost per mile, then multiplies that result by the number of ownership years, and adds the initial purchase price. This produces a total lifetime cost figure for comparison. The model assumes constant annual mileage and constant cost per mile throughout the ownership period, treating operating costs as linear and predictable. It does not account for maintenance variations, insurance, registration fees, fuel price volatility, depreciation, financing costs, or tax incentives. The vehicle with the lower computed lifetime cost is presented as the more economical option over the specified timeframe.
References
Frequently Asked Questions
What about resale value?
Charging infrastructure?
What about insurance?
Government grants?
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