Gas savings alone can fool you
Saving $150 a month on gas sounds great. But if the new car payment is $450 more than your old one, you're $300 a month behind. Here's what most calculators count, and what really decides it.
What most calculators count
- Money saved on gas
- Maybe oil changes
That's real money, but it's only one piece.
What actually decides it
- The new payment and interest. A loan costs extra on top of the price.
- What you still owe. If you owe more than your car is worth, that gap moves onto the new loan.
- Insurance. Newer cars, and EVs especially, often cost more to insure.
- What each car is worth later. A new car loses value fastest in its first few years.
- Where you can charge. Charging at home is cheap. Fast chargers can cost about as much as gas.
Let's run your numbers
Which sounds most like you?
This decides what we compare.
Pick the one that fits best to keep going.
Your driving and charging
How much you drive is the biggest driver of fuel savings.
Your gas and electricity prices
We start with the national average. Pick your state, or type in your own numbers for the most accurate answer.
How to find your price per kWh on your electric bill
A kWh (kilowatt-hour) is how electricity is sold, like gallons for gas. Your bill lists how many you used and what each one cost.
- Find the "Electric charges" or "Usage" section on your bill.
- Look for a price written like $0.26409/kWh. That's 26.4¢ per kWh.
- Easy backup: divide the total electric charges by the kWh you used. $180 ÷ 650 kWh = about 28¢.
Does your bill have "tiers"? Some utilities, like LADWP, charge more once you pass a certain amount each month. An EV adds about 300 to 400 kWh a month, which usually pushes you into the next tier. Use the higher tier price.
Ask about an EV plan. Many utilities offer cheaper overnight "time-of-use" rates for EV owners, sometimes half the normal price.
Your current car
The example numbers are filled in. Change them to yours.
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Enter the higher offer above. A dealer trade-in offer is often lower, which is good to know before you negotiate.
The cars you're looking at
Pick up to 3 from the cars we track, or type in your own. Our examples are filled in.
How you'd pay
Fuel savings
The full picture
See every number behind it
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How we do the math, and where the numbers come from
- True cost = everything you pay over the years (down payment, loan payments, fuel or charging, insurance, maintenance, tires, repairs, charger) minus what the car is worth at the end after paying off any loan left. We do this for keeping your car and for each new option, so they compare fairly.
- Trade-in: what you owe is paid off from your car's value. If you owe more than it's worth, the difference is added to the new loan. Most states only charge sales tax on the price after your trade-in; California, Hawaii and Virginia don't, Michigan caps it, and Ohio allows it only on new cars.
- Car prices, fuel economy, insurance, maintenance and resale value come from the Carsultant4u car cost calculator, researched by hand for each year, model and trim.
- Your current car is assumed to lose about 15% of its value a year if 0 to 3 years old, 11% at 4 to 7, 9% at 8 to 12 and 7% after that.
- Gas: AAA national average $4.34 a gallon (October 13, 2026) and AAA state averages. Electricity: about 17¢ per kWh national residential average (U.S. EIA) and state residential averages. Fast charging: typical U.S. network prices of 39¢ to 62¢ per kWh.
- Charging mix: home charging is billed at your home rate. Road trips and public-only charging are billed at the public price.
- Federal EV tax credit: ended for vehicles acquired after September 30, 2025.
- Home charger installs: 2026 national installer ranges, the same ones used in Plug-In Ready?.
This is an estimate to help you decide, not a quote. Your loan rate, insurance and the exact car you buy will change the numbers.