Electric Car Cost Per Mile Calculator
Electric vehicles have low fuel costs but higher purchase prices — calculate your EV cost per mile with realistic numbers.
How to use this tool
- Enter how many miles you drive per year.
- Enter your annual fuel cost.
- Add insurance, maintenance, and depreciation for the year.
- Include other costs like registration, tolls, and financing.
- Read your total and fuel-only cost per mile.
EVs cost less to fuel and maintain but more to buy — see your true cost per mile to compare against a gas car.
Frequently asked questions
- What is a typical cost per mile to drive?
- AAA and IRS estimates put all-in driving costs roughly in the $0.55-$0.75 per mile range for a newer car. Older, paid-off vehicles can run well under $0.40 because depreciation has slowed.
- Why include depreciation?
- Depreciation is a real cost — the car is worth less each year whether or not you sell it. Ignoring it badly understates the true cost of driving, especially for newer vehicles.
- How can I lower my cost per mile?
- Keep a car longer to slow depreciation, shop insurance, do routine maintenance to prevent big repairs, and drive efficiently. Spreading fixed costs over more miles also reduces the per-mile figure.