EV Payback Period Calculator
Compare the total cost of owning an Electric Vehicle (EV) versus a traditional Petrol/Diesel (ICE) car. This calculator helps you determine the "payback period"—the time it takes for your fuel savings to cover the initial higher cost of an EV.
Cost & Usage Comparison
Electric Vehicle (EV) Details
Petrol/Diesel (ICE) Vehicle Details
Driving & Maintenance Assumptions
Payback & Savings Analysis
Payback Period
Your Financial Savings
Annual Running Costs
📊 Financial Verdict
Year-on-Year Cost & Savings Breakdown
| Year | EV Running Cost | ICE Running Cost | Annual Savings | Cumulative Savings |
|---|
Key Factors Influencing Your Payback Period
Daily Mileage
Higher daily driving significantly shortens the payback period as fuel savings accumulate faster.
Fuel Prices
High and rising petrol/diesel prices make EVs more financially attractive, accelerating payback.
Electricity Cost
Lower home electricity tariffs, especially with solar, can make EV running costs negligible.
Initial Price Gap
Government subsidies and a smaller price difference between comparable EV and ICE models are crucial for a quick payback.
⚠️ Important Disclaimer
This calculator provides an estimate for financial planning and comparison purposes only. The payback period and savings are based on the values and assumptions you provide. Actual results can vary based on real-world driving conditions, battery degradation, fluctuations in fuel and electricity prices, resale values, and unforeseen maintenance costs. This is not financial advice.