ICE vs EV Total Cost of Ownership Calculator
Compare the total cost of owning an electric vehicle vs a petrol or diesel car over 5 years.
Includes purchase price, fuel, servicing, and depreciation.
5-Year Cost Comparison
The total cost of ownership (TCO) includes every cost over the ownership period — not just the purchase price. EVs typically cost more to buy but less to run, so TCO comparison is essential.
TCO components:
- Purchase price (minus any grants/incentives)
- Annual fuel / electricity cost
- Annual servicing and maintenance
- Insurance (similar for EV and ICE in most markets)
- Residual / resale value (depreciation)
Typical annual maintenance comparison:
| Item | ICE car | EV |
|---|---|---|
| Oil changes | £100–£200/year | None |
| Timing belt (every 5–10 years) | £400–£800 | None |
| Exhaust system | £200–£800 lifetime | None |
| Brake pads (regen braking reduces wear) | £200–£400/pair | £100–£200/pair |
| 12V battery | £100/5 years | £100/5 years |
| Total typical saving | — | ~£400–£700/year |
EV depreciation: Early EVs (2018–2021) depreciated rapidly. Modern EVs from established brands now hold value comparably to equivalent ICE cars, especially in markets with strong demand.
UK/EU government incentives: Check current grants — many have been reduced or removed but zero road tax and company car tax benefits remain significant.