Electric Car vs. Petrol Car - Cost of Ownership
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
Couple of Givens
General Information
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".
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".
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.
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.
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