EV Cost of Ownership

What an electric vehicle actually costs to buy, charge, insure and maintain over the years you own it.

Quick Answer

EV cost of ownership is the total of purchase price, charging, insurance, maintenance and depreciation. Charging at home is usually the largest saving versus gasoline, and maintenance costs run materially lower, while insurance premiums and depreciation on some models run higher than comparable gas cars.

Part of the AutoNetwork Electric Vehicle Guide.

• EV cost of ownership
• EV charging at home and in public
• How to buy an electric vehicle

Frequently Asked Questions

How much does it cost to charge an EV at home?

Multiply your electricity rate by the kWh you use. At about 15 cents per kWh, an efficient EV using 30 kWh per 100 miles costs roughly $4.50 per 100 miles — usually well under the cost of gasoline for the same distance.

Are EVs more expensive to insure?

Usually yes. Higher vehicle values, specialized parts, battery replacement risk and a smaller certified repair network push premiums above comparable gas models. Quotes vary widely by carrier, so shop several.

Do EVs hold their value?

Resale varies more than with gas cars. Models with strong charging networks, fresh technology and steady demand hold value better, while older, short-range EVs depreciate quickly — which also makes used EVs a bargain for buyers.