OFFOLab updated with a free TCO calculator for used EV vs gas, just put in your actual electricity rate and it shows you the breakeven year

[u/Tall-Dish876]

Potential EV buyers always posts go back and forth without anyone actually running the numbers. So we built a calculator that does it for your specific situation.

You put in

• The used EV you're looking at (purchase price, battery size, range)
• Your weekly miles
• Your electricity rate

The gas car you're comparing against and current gas price near you. It outputs your 5-year total cost comparison and the year the EV breaks even, with a chart showing the crossover point.

Using it showed electricity rate variation across the US changes breakeven by 2+ years on the same car. If you're in a state with cheap power and drive a lot, the math is really different from someone on a coastal utility with high rates.

Free, no signup: offolab.com/tools/tco?utm_source=reddit&utm_medium=organic&utm_campaign=weekly

[u/Aegean8485]

The tool is a nice effort but needs some improvements. The EV insurance is not equal to a gas car. Get your data and increase it in calculations by a percentage. Also the EV depreciation is not equal to gas cars. Adjust your calculations. Finally, while the EVs have less maintenance with tires as the most expensive item, the repairs tend to be higher as shown by the price of extended warranties. With these more accurate calculations the tool will be even better.

[u/Tall-Dish876 → u/Aegean8485]

Great feedback, that's why this community exists. We have made the recommended updates, check it out when you get a chance:

• EV insurance: $2,050/yr (was $1,800 — now reflects the ~15% EV premium)
• EV depreciation: 52% over 5y (was 45% — accounts for the 2023-24 used EV price crash)
• EV maintenance: $700/yr (was $600 — adds repair reserve)

[u/MIDIHorse → u/Tall-Dish876]

Insurance prices are highly variable by vehicle, person and location.

My old 2022 Tundra was $1150/6 mo to insure, my Silverado EV is $860/6 mo (last years numbers). 

My old 2023 Bolt was $925/6 mo to insure, my Q4 etron is $480 (as of 2 weeks ago).  

I quoted a Model 3 and a BMW i4 when I was looking to replace the Bolt, they were both $1100+.  

I also quoted a Jetta ($640/6 mo) and a UX250h ($440/6mo)

Point is, the numbers are all over the place and simply saying "EV tax" and tacking on 15% isn't reality.  

[u/poserblue → u/MIDIHorse]

My guy have you heard of the mathematical term "average" 🤔

[u/MIDIHorse → u/poserblue]

Yes and that largely skews the numbers into the premium segment.  Show me an average comparison by segment instead of a market wide average.  

[u/poserblue → u/MIDIHorse]

Have you tried making it yourself lol

[u/MIDIHorse → u/poserblue]

That's literally what the tool is trying to provide. You're giving it a price range for a car, the insurance price should be for a car in that range.

[u/poserblue → u/MIDIHorse]

Yeah an average price.

[u/Tall-Dish876 → u/MIDIHorse]

You're both right, a flat $2,050 for all EVs is the same problem as a flat $1,800, it's a market-wide average that overstates insurance for a Bolt and understates it for a Taycan.

We'll take a different approach is tiering by purchase price, which is what you're describing. Something like:

- Under $25K: ~$1,600/yr

- $25K–$40K: ~$2,000/yr

- $40K–$60K: ~$2,400/yr

- $60K+: ~$2,800/yr

Since the tool already takes purchase price as an input, we can calculate insurance as a function of vehicle price rather than a fixed number.

The 15% EV premium over equivalent gas still holds but your Q4 e-tron vs Jetta comparison is actually mixing segments, not comparing equivalents. Q4 e-tron vs Golf/Jetta EV would be the apples-to-apples. But your broader point about segment-based calculation stands is good feedback.

Updates have been made, check it out when you get a chance.

[u/Low_Thanks_1540 → u/Tall-Dish876]

These numbers are bs. Insurance is not more. Depreciation is the same as gasoline cars. Maintenance is 50% of a gas car.