The sticker price of an electric car is only part of the story. What actually matters day to day is the cost per mile — the dollars you burn every time you turn the key. This calculator from Smekys breaks that number into three transparent pieces: the electricity you use, the maintenance the car needs, and the value it loses as it ages. It then lines those up against a comparable gasoline car so you can see exactly where the money goes.
Many "EV savings" claims only compare a home-charged kilowatt-hour to a gallon of gas, which makes electric driving look almost free. That is true at the pump, but it ignores that battery vehicles still depreciate, still need tires and brakes, and still cost real money to own. This page gives you the full per-mile picture, not just the energy bill.
How to Use
- Set your Energy Use in kWh per mile. A typical EV draws about 0.25–0.35 kWh for every mile it travels; the default 0.30 is a fair middle ground.
- Enter your Electricity Rate per kWh. Use $0.15 if you mostly charge at home on residential power, or a higher figure if you rely on public fast chargers that can run $0.30–$0.50 per kWh.
- Add Maintenance per mile. EVs skip oil changes and tune-ups, but tires, brakes and coolant still add up to roughly $0.03–$0.06 per mile.
- Add Depreciation per mile — the biggest and most overlooked line. Spread your expected resale loss over the miles you will drive; the default $0.25 reflects a mainstream EV held for several years.
- Enter your Miles Driven Per Year so the per-mile figures can be annualized.
- Optionally set a Comparable Gas Car MPG and Gasoline Price to see the side-by-side fuel comparison.
The result card shows the energy cost per mile, the full EV cost per mile (energy plus maintenance plus depreciation), and the annual fuel savings versus a gas car.
How the Cost Per Mile Is Built
The math is deliberately simple and additive:
- Energy cost per mile = kWh per mile × electricity rate. At 0.30 kWh per mile and $0.15 per kWh, that is $0.045 per mile of electricity.
- Total EV cost per mile = energy cost + maintenance + depreciation. Using the defaults, $0.045 + $0.04 + $0.25 = about $0.33 per mile.
- Gas fuel cost per mile = gas price ÷ MPG. At $3.50 per gallon and 27 mpg, a gas car burns about $0.13 per mile of fuel alone.
Notice the gap: on energy alone the EV is remarkably cheap — $0.045 versus $0.13 per mile. But once maintenance and depreciation are stacked on, the EV totals roughly $0.33 per mile. That comparison is honest: the gas fuel figure above excludes the gas car's own depreciation, insurance and upkeep, which are typically $0.30–$0.50 per mile on top of fuel. When you compare like for like, EVs usually win on running cost, but not by the margin that pump-price-only calculators suggest.
Why Depreciation Dominates
Electric vehicles lose value fast early in their lives because battery technology is improving quickly and tax credits change the used market. A car that depreciates $15,000 over 60,000 miles costs you $0.25 per mile before you buy a single kilowatt-hour. That is why the way you own the car matters more than how you charge it: keeping an EV well beyond the early depreciation cliff flattens your per-mile cost, while buying and selling in the first three years inflates it. The maintenance advantage — no oil changes, fewer brake jobs because of regenerative braking — is real but smaller, typically worth only a few cents per mile.
Examples
Example 1 — The default commute. At 0.30 kWh per mile, $0.15 per kWh, $0.04 maintenance and $0.25 depreciation, the EV costs about $0.33 per mile to own. Over 12,000 miles a year, the electricity alone is around $540, while a 27-mpg gas car at $3.50 per gallon spends about $1,556 on fuel — an annual energy saving near $1,016.
Example 2 — Heavy public charging. If you charge mostly on DC fast chargers at $0.40 per kWh, energy cost per mile jumps to 0.30 × $0.40 = $0.12. The EV's total per-mile cost rises to about $0.41, shrinking the fuel-saving gap. This is why home charging is the single biggest lever on your real EV cost per mile.
Example 3 — A low-depreciation high-miler. A driver who puts 30,000 miles a year on a cheap, older EV spreads depreciation so thin that the energy line dominates. If depreciation works out to just $0.10 per mile, the full EV cost per mile falls near $0.19 — and the fuel-versus-energy advantage becomes substantial at the pump.
FAQ
How much does an electric car cost per mile?
Using typical figures — 0.30 kWh per mile, $0.15 per kWh, $0.04 maintenance and $0.25 depreciation — the total is about $0.33 per mile. The electricity alone is only around $0.05 per mile; maintenance and especially depreciation make up the rest.
Is charging an EV cheaper than buying gas?
On energy, yes. Home charging at $0.15 per kWh costs roughly $0.045 per mile, while a 27-mpg gas car at $3.50 per gallon burns about $0.13 per mile of fuel. That is why EVs save most money for drivers who charge at home and cover high annual mileage.
Why does depreciation matter so much?
Depreciation is usually the largest single line in the cost per mile. A $15,000 value loss over 60,000 miles equals $0.25 per mile before any energy or maintenance spend. Keeping the car past the first three years and driving more miles both spread this cost thinner.
Does maintenance cost more on an EV?
Usually less. EVs have no oil changes, no spark plugs and far less brake wear thanks to regenerative braking. Expect roughly $0.03–$0.06 per mile, versus $0.06–$0.10 on a comparable gas car — though EV tires can cost more because the vehicles are heavier.
Does public fast charging erase the EV cost advantage?
It can shrink it. Home power at $0.15 per kWh makes energy about $0.045 per mile, but public DC fast charging at $0.30–$0.50 per kWh pushes energy to $0.09–$0.15 per mile — close to, or even above, gas-car fuel cost. The cheapest EV owners charge mostly at home overnight.
What is a good EV cost per mile to aim for?
If you mainly charge at home, a total of around $0.25–$0.35 per mile — including depreciation — is reasonable for a mainstream EV. Low-energy, high-mileage, low-depreciation combinations can push it below $0.20, while heavy fast-charging or early resale can push it above $0.40.
Disclaimer
This EV cost per mile calculator is provided for informational purposes only and does not constitute financial, automotive, or tax advice. Estimates depend entirely on the inputs you enter — your actual energy rate, maintenance spending, depreciation curve, local gasoline price and annual mileage will differ. Always verify costs against your own charging bills, service records, and the vehicle's projected resale value before making a purchase decision.