Electric cars may cost more to buy compared to petrol cars.
However, the cost of charging an EV is far lower than the price of fuel, meaning electric car cost per mile could be notably lower than petrol vehicles. Electric vehicles have also lower maintenance costs which can translate into more savings compared to petrol, diesel and hybrid vehicles.
So, which option is more cost-effective in the long run?
It is not a surprise that many are uncertain about this, and we hope this tool will help addressing this matter!
NOTES:* Denotes a recommended value Numbers in brackets are negative
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Couple of Givens
General Information
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%
Petrol Car
This is for brand new cars as first year depreciation is usually higher than subsequent years. If you are buying a used car, depreciation rate here is the same as the "annual depreciation".
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%
Losses when charging, discharging and because of vampire drain. Vampire drain happens due to power electronics even if the car is not driven
%
Electric Car
This is for brand new cars as first year depreciation is usually higher than subsequent years. If you are buying a used car, depreciation rate here is the same as the "annual depreciation".
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%
Electric vehicles do not require timing belts, differential fluid, transmission fluid, oil changes, Fuel filters, spark plug replacements or emission checks. EV brake pads experience less wear and tear.
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Losses occur when charging, discharging and because of vampire drain. Vampire drain happens due to power electronics even if the car is not driven. A charge cycle is the process of charging and discharging a rechargeable battery.
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Cost of Ownership After Years
Purchasing price
Car value after years
Cost of Ownership
Car net cost
Purchasing price minus car value after years
Fuel
Service
Total
Purchasing price
Car value after years
Cost of Ownership
Car net cost
Purchasing price minus car value after years
Electricity
Service
Total
Expected savings compared to using petrol car
First Year Consumption (Fuel/ Energy)
- litres
- kWh
Total Cost of Ownership Over Years in () - Resell Value of Car is NOT Included
Cost of Ownership After Years
Fuel vs Electricity - Accumulative Cost ()
Accumulative Service Cost ()
()
()
Fuel
Electric
Yearly Figures
Accumulative Spending
Yearly Figures
Accumulative Spending
Accumulative Savings()
Year
KM
/ Litre
/ kWh
Car Value
Fuel
Service
Service
Total
Car Value
Electricity
Service
Electricity
Service
Total
Energy
Service
Car Value
Total
Input
Couple of Givens
Mile into km
US gallon into litre
MPG into KPL
General Information
Yearly kilometres
Currency
Gasoline car - fuel type
Price per litre (first year)
Years to use the car
Annual increase in fuel
Electricity (/ kWh)
Annual increase in electricity
Petrol Car
Car make & model
Purchasing price ()
First year depreciation
Annual depreciation after
Average annual service cost ()
Service inflation
Miles per gallon (MPG)
Kilometres per litre (KPL)
Electric Car
Car make & model
Purchasing price ()
First year depreciation
Annual depreciation after
Average annual service cost ()
Service inflation
Battery capacity (kWh)
Miles per charge
Km per charge
Losses per cycle (charge & discharge)*
Losses in km
Km/ kWh adjusted for losses
Output
Purchasing price
Car value after years
Cost of Ownership
Car net cost
Purchasing price minus car value after years
Fuel
Service
Total
Purchasing price
Car value after years
Cost of Ownership
Car net cost
Purchasing price minus car value after years
Electricity
Service
Total
Expected savings compared to using petrol car
First Year Consumption (Fuel/ Energy)
- litres
- kWh
Fuel vs Electricity - Accumulative Cost ()
Cost of Ownership After Years
Accumulative Service Cost ()
Total Cost of Ownership Over Years in () - Resell Value of Car is NOT Included
