EV Break-Even Calculator
Today is Saturday 10th January 2026
EV Break-Even Calculator
Enter your details below to see your personalized electric switchover report.
1. Current Driving Stats
How many miles you drive in a typical year.
Update this with your local pump price for an accurate comparison.
Your car's average "Miles Per Gallon" from your dashboard.
The estimated trade-in value or price of the ICE car you are considering.
2. EV Scenario
Enter your home rate (e.g. 0.09 for off-peak or 0.28 for standard).
Typically 3.0 to 4.5. High performance EVs are usually lower.
The full list price or OTR price of the electric vehicle.
Disclaimer: This calculation is based on user inputs and estimated fuel and electricity prices only. Maintenance, insurance, tax, depreciation, incentives, and ownership variables are excluded. Results are illustrative and non-binding. ChangeCar.com accepts no responsibility for decisions made or losses incurred. You must conduct your own research before relying on these results.
EV vs ICE: When Does Switching to Electric Pay Off?
With petrol and diesel prices remaining volatile, many UK drivers are looking at Electric Vehicles (EVs) to slash their monthly outgoings. However, the higher upfront purchase price of an EV can be a barrier. The real question is: how long does it take for fuel savings to pay back that initial investment?
Our EV Break-Even Calculator is designed to give you a clear "payback date." By comparing your current MPG and fuel spend against your home electricity rates and EV efficiency, you can make an informed decision based on data, not just guesswork.
Key Factors in the EV Equation
To find your financial tipping point, you need to look at three main variables that dictate your potential savings:
Charging Costs
Charging at home on a standard tariff is significantly cheaper than petrol. However, if you rely on public rapid chargers, your "per mile" cost will increase.
Annual Mileage
The more miles you drive, the faster an EV pays for itself. High-mileage commuters often see a "break-even" point much sooner than occasional drivers.
Efficiency (mi/kWh)
Just like MPG, EVs have efficiency ratings. Most modern electric cars achieve between 3 and 4 miles per kWh of energy used.
Hidden Savings of Going Electric
While fuel is the biggest saving, don't forget the other financial benefits of switching to an EV in the UK:
- Lower Maintenance: With fewer moving parts, no oil changes, and no exhaust systems, EV servicing costs are typically 30-50% lower than traditional cars.
- Regenerative Braking: EVs use their motors to slow down, which significantly extends the life of your brake pads and discs.
- Company Car Tax (BIK): If you are a business user, the Benefit-in-Kind (BIK) rates for EVs are currently exceptionally low compared to petrol or diesel alternatives.
- Exemption Zones: Avoid daily charges in London's ULEZ or other Clean Air Zones (CAZ) popping up across major UK cities.
Is It Right For You?
An EV break-even point of 2 to 4 years is often considered a strong investment, especially if you plan to keep the vehicle for 5 years or more. If your electricity rates are low (especially on off-peak overnight tariffs), the savings can be transformative for your monthly household budget.
Drive Smarter
Don't just look at the price tag on the windscreen. Use the tool above to see the "Fuel Payback." You might find that a more expensive EV actually leaves you with more money in your pocket every month than a cheaper petrol car.