EV vs Petrol Breakeven Calculator
Electric cars cost more upfront but less to run. Enter both prices and your driving details to see how many years it takes for the EV to become the cheaper option overall.
Frequently asked questions
How long does it take for an EV to pay for itself vs petrol?
It depends on the price gap and your mileage. For a typical £10,000 price premium and 10,000 miles a year, breakeven is usually around 6-10 years on fuel savings alone. Higher-mileage drivers break even faster. Additional savings from lower VED, servicing, and BIK tax can shorten this significantly.
Are EVs really cheaper to run than petrol cars?
Yes, substantially. Charging at home costs roughly 5-8p per mile compared to 15-20p per mile for petrol. EVs also have lower servicing costs (no oil changes, fewer brake replacements) and zero or lower VED road tax. Insurance is the one area where EVs can be more expensive.
Does this calculator include maintenance savings?
This calculator focuses on fuel/charging costs only, which is the largest running cost difference. EVs also save on servicing (no cambelt, clutch, or oil changes), but these savings vary significantly by model and age.
What if I can only charge at public chargers?
If you rely entirely on public charging at around 65p per kWh, the cost per mile rises to about 15-19p, which is similar to petrol. Home charging is key to the EV cost advantage. Set the home charging percentage to 0% to see this scenario.
These calculations are estimates based on 2026/27 HMRC and DVLA rates. Speak to a lender or qualified financial adviser for a personalised quote.