How Much Money Can You Save with an Electric Car?
Get a quick estimate of your yearly fuel and maintenance savings in 2026.
Are you wondering, “How much money will I save with an electric car?”
Quick Answer (2026): Many drivers save money by switching to an electric car — mainly because electricity typically costs less per mile than gasoline, and EVs can require less routine drivetrain maintenance.
Your fuel and maintenance savings depend most on how much you drive, your current car’s MPG, local gas and electricity prices, and how often you can charge at home.
Use the calculator below to estimate yearly savings from switching from a gasoline car to an electric vehicle — based on fuel and maintenance cost differences.
*Disclaimer: This tool is only intended to provide an estimate of potential savings. Actual results will vary.
Home charging costs are estimated based on average state residential electricity rates from the U.S. Energy Information Administration (EIA). Public charging rates are estimated using the national average for DC Fast Charging ($0.43 per kWh). Gas prices are estimated based on each state’s average gasoline cost. Maintenance savings are estimated using average per-mile maintenance costs: Gas vehicles — Compact: $0.1185, Crossover SUV: $0.1087, Full SUV: $0.1110, Truck: $0.1088; Electric vehicles — $0.0789 per mile.
What This EV Savings Calculator Estimates
This tool compares the day-to-day cost of driving your current gasoline vehicle to the estimated cost of driving an electric vehicle — focusing on the biggest, most consistent savings categories:
- Fuel costs: gasoline vs. electricity (which can vary widely by state and utility).
- Routine maintenance costs: EVs can avoid certain common services like oil changes and some engine-related maintenance.
Why EV Fuel and Maintenance Savings Can Be Big
In general, EVs can have lower operating costs per mile.
But “Will I save money?” isn’t one-size-fits-all. Savings are usually higher if:
- You drive more miles per year (more opportunities to save per mile).
- Your current vehicle has lower MPG (higher gasoline use).
- You can charge at home most of the time.
- Your state has high gas prices and/or moderate electricity prices.
Savings can be smaller if you drive very little or rely heavily on pricier public fast charging.
EV Fuel Savings Examples (Quick Scenarios)
If you want a gut-check before you calculate, here’s a simple way to think about it: the more you drive, the more the per-mile savings matter. Federal Highway Administration data shows the average miles traveled per vehicle in the U.S. is roughly in the ~13k/year range.
- Lower-mileage driver: savings can still add up, but may feel modest month-to-month.
- Typical driver: many see meaningful monthly fuel savings, plus maintenance savings over time.
- High-mileage driver: savings are often much more noticeable because every mile compounds the difference.
For your exact number, use the calculator above — it’s designed to reflect your driving and local costs instead of broad averages.
Top Questions About Saving Money With An Electric Car
How Much Do You Save On Fuel A Year With An Electric Car?
It depends on miles driven, your gas car’s MPG, and local energy prices. If you drive a typical amount each year, even modest per-mile savings can add up quickly — and EV maintenance savings can increase the gap over time. AAA and Consumer Reports both highlight that EVs can cost less to operate and can cost less to own over a typical ownership period in many cases.
What Makes The Biggest Difference In My EV Fuel Savings?
Miles driven, MPG, and whether you can charge at home usually matter most. After that, your state’s electricity prices and local gas prices can swing your results.
About Coltura
Coltura is a nonprofit working to help people move beyond gasoline for cleaner air and healthier communities. We don’t use affiliate links or ads to push specific vehicles or products. Our goal is to provide practical tools — like this calculator — so you can make more informed decisions.