In AAA’s 2026 matched-category comparison, gasoline cars generally had the lowest five-year total ownership cost, hybrids were the most reliable lower-cost alternative, and electric vehicles had the lowest energy cost. EV charging was 66%–70% cheaper than gasoline fuel in the study, but higher depreciation, financing and fees often outweighed that saving. Your result can change with the exact models, annual mileage, local energy prices, incentives, insurance and resale value.
What “total running cost” includes
Fuel or charging is only one line on the ownership bill. A useful comparison adds every cost incurred to buy, finance, operate and dispose of the vehicle:
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- Purchase price after incentives: the transaction price, including any qualifying tax credit or rebate that actually applies to you.
- Financing: interest and loan fees over the period you keep the car.
- Depreciation: purchase price minus expected resale or trade-in value. This is often the largest cost for a new vehicle.
- Energy: gasoline, home electricity, public charging, or a mixture of charging methods.
- Maintenance, repairs and tires: scheduled service, wear items, unexpected repairs and tire replacement.
- Insurance: premiums can differ substantially between otherwise similar powertrains.
- Registration, taxes and fees: recurring state or local charges and one-time transaction costs.
“Running cost” is therefore different from “fuel cost.” An EV can be the cheapest vehicle to energize and still be more expensive to own if its purchase price, depreciation, insurance and financing are higher.
What the latest matched comparison found
AAA’s 2026 Your Driving Costs analysis modeled five years and 75,000 miles. It compared selected new EV, hybrid and gasoline models within medium sedans, compact SUVs, medium SUVs and pickup trucks rather than comparing one premium EV with one inexpensive gasoline car. Across all new vehicles in the analysis, the weighted-average annual cost to own and operate was $12,863. The figure includes fuel, maintenance and repairs, tires, license and registration taxes, depreciation and finance charges; it is an average under AAA’s assumptions, not a quote for every buyer.
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| AAA 2026 measure | What it means | Qualification |
|---|---|---|
| $12,863 per year | Average cost to own and operate a new vehicle | Five years and 75,000 miles; selected models in four vehicle categories |
| $4,422 per year | Weighted-average depreciation | Largest ownership-cost component in the study |
| 66%–70% lower | EV charging cost versus gasoline fuel | Across the categories studied; not a guarantee for every tariff or vehicle |
| 18.0¢ per kWh | Home-charging electricity assumption | AAA 2026 modeling assumption |
| $4.152 per gallon | Gasoline price assumption | Average price at the time of AAA’s analysis |
AAA’s director of automotive engineering, Greg Brannon, summarized the value of matched categories: “By looking at EVs, hybrids and traditional gas-powered vehicles within the same categories, consumers can better understand how total ownership costs vary by powertrain.” The same comparison also warns against focusing on only one bill: “Looking at the full ownership picture—including depreciation and other expenses—can help consumers better understand the total cost of each option.”
AAA’s 2025 study produced a lower overall average of $11,577 per year under its own assumptions, also using 15,000 miles per year over five years. Its EV and hybrid comparison found lower operating costs but higher ownership costs for EVs. The year-to-year averages should not be treated as a price trend: vehicle samples, prices, rates and other assumptions change.
Why EVs usually win on energy cost
An electric motor converts a larger share of stored energy into motion than an internal-combustion engine, and an EV has no gasoline purchases. In AAA’s 2026 model, those factors produced charging costs 66%–70% below gasoline fuel costs across the selected categories.
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1Fix the driver behind crashes, sound loss and screen glitches2Clear out junk files and repair common Windows errors3Scan for outdated or missing drivers - takes under a minuteThat percentage is an average result, not a promise. It depends on the electricity rate, the vehicle’s efficiency, charging losses and where you plug in. Home charging at the assumed 18.0¢ per kWh is usually less expensive than public fast charging, while a household with unusually cheap or expensive electricity can sit far from the average. A driver who relies on high-priced public charging should not use a home-charging estimate for the whole budget.
EV energy cost is best calculated from your own data:
- Gasoline: annual miles ÷ miles per gallon × local price per gallon.
- Electricity: annual miles ÷ vehicle efficiency in miles per kWh × electricity price per kWh. Add a reasonable allowance for charging losses if your efficiency figure excludes them.
- Mixed charging: calculate home, workplace and public charging separately, then add the totals.
Lower energy cost also does not automatically mean lower service cost in every year. EVs generally avoid oil changes and have fewer engine-related service items, but they still need tires, brakes, suspension work, cabin filters and repairs. Battery warranty coverage, vehicle age and the local repair market affect long-term risk.
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Why depreciation can erase an EV’s charging savings
Depreciation is the value a vehicle loses while you own it. If a new EV costs more than a comparable hybrid or gasoline model and later sells for less than expected, the lost value can exceed several years of charging savings. Financing charges and insurance can widen the gap further because they are often linked to the vehicle’s price and replacement cost.
AAA’s $4,422 weighted-average annual depreciation figure shows why this line deserves first-class attention. It is an average across the study’s vehicles, not an EV-specific forecast, but it illustrates the scale: a small change in resale value can matter more than a small change in electricity price.
Before buying, obtain realistic resale estimates for the exact trim and mileage you are considering. Compare the amount financed, interest rate, loan term, insurance quote and expected value after your planned ownership period. A five-year buyer should not use a three-year lease residual as a resale assumption, and a high-mileage driver should not copy a low-mileage estimate.
Where hybrids fit
Hybrids combine an internal-combustion engine with electric assistance and a battery that is normally replenished through regenerative braking and the engine. They do not require routine plug-in charging, so they avoid the public-charging question while using less gasoline than a comparable conventional model in many driving patterns.
In AAA’s matched categories, hybrids were the most consistently lower-cost alternative to gasoline vehicles. Their purchase prices can be higher than conventional versions, but the gap may be smaller than the premium for an EV. They also avoid the need to install charging equipment or plan charging stops. The trade-off is that a hybrid still has an engine, transmission and exhaust system, so its maintenance profile is not identical to an EV’s.
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Why gasoline cars can remain cheapest overall
Gasoline models often start with lower transaction prices and a large, familiar used-car market. Those advantages can reduce depreciation and financing costs enough to outweigh higher fuel and routine-service spending. AAA’s 2026 conclusion—that gasoline models generally had the lowest total cost in the selected matched categories—reflects that balance.
Gasoline is not automatically the low-cost choice. A high-mileage commuter in a region with expensive fuel may recover a hybrid or EV premium quickly. A gasoline vehicle with poor resale value, high insurance or frequent repairs can also lose its initial advantage. The correct comparison is the total bill for the specific vehicles, not a permanent ranking of powertrains.
Local conditions can reverse the ranking
The University of Michigan Center for Sustainable Systems modeled 17 U.S. cities, five vehicle classes and five charging strategies. That scope demonstrates why a national average cannot answer every household’s question.
| Variable | How it changes the calculation | What to collect |
|---|---|---|
| Annual mileage | More miles magnify energy and maintenance differences; low mileage gives purchase price and depreciation more weight. | Your odometer history or a realistic annual estimate |
| Gasoline price | Higher fuel prices improve the case for efficient hybrids and EVs. | Local price, not a national headline average |
| Electricity price | Low home rates improve EV economics; high rates or heavy public charging reduce the advantage. | Utility tariff, time-of-use rate and public-charging prices |
| Charging access | Reliable home or workplace charging can make an EV practical and inexpensive; apartment or street parking may require paid public charging. | Parking location, outlet access and charging time |
| Incentives | A qualifying credit lowers the effective purchase price, but eligibility and rules are date-sensitive. | Buyer income, vehicle qualification, transaction date and dealer documentation |
| Insurance and fees | Higher premiums, registration surcharges or taxes can offset operating savings. | Quotes and state or local fee schedules for the exact vehicle |
| Resale value | A stronger used-market value reduces depreciation. | Comparable listings or conservative trade-in estimates at your planned sale date |
Use equivalent vehicles before comparing powertrains
A fair test pairs vehicles that serve the same job: similar body style, passenger and cargo capacity, equipment, safety features and performance. Comparing a luxury EV with a basic gasoline hatchback mostly measures vehicle positioning, not propulsion technology.
Record the exact model year, trim, battery or engine specification, drive layout and included equipment. Then compare each vehicle’s after-incentive price, financing offer, efficiency rating, insurance quote, maintenance schedule and expected resale value. If a value is unavailable, mark it as “not stated” and show how sensitive your result is to that unknown rather than filling it with a guess.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.A five-year total-cost worksheet
Build the calculation for the period you actually expect to keep the vehicle. The following sequence keeps operating savings from hiding larger ownership costs.
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- [Plug-play Mode(The Default Setting), Smart Touch Screen, No APP Needed]: Clearly show the charging amperage, charging speed, input voltage, delay time, etc. For the touch buttons: 1. Pull out the charging gun before press the buttons, otherwise no respond; 2. Long press "Ⓐ" or "Time" button to enter the setting interface, then you can adjust the amperage from 16A to 48A freely or Set the charging start time; 3. You can do "factory reset" if doesn't charging.
- [Smart WIFI APP, You can Set the Charging Period]: By APP, you can wirelessly check the charging cost, history, fully-charged notification, track the charging status, during off-peak period, etc. [Wi-Fi Reset/Factory Reset Function, Add New Device Quickly]: If you can't find your device or you have replaced a new phone, just pull out the charging latches, simultaneously long press the Ⓐ button and time adjustment button on the product screen until it shows "Factory Reset", then wait 3-5 seconds and re-start your device.
- Set the period and mileage. Enter years owned and expected miles per year. Multiply them for total miles.
- Enter the effective purchase price. Start with the out-the-door price and subtract only incentives for which you have confirmed eligibility.
- Estimate financing. Use the actual amount financed, annual percentage rate and term. Include loan fees and any payment penalty that applies to your plan.
- Estimate resale value. Use a conservative value for the exact trim and projected mileage at the end of the period. Depreciation equals purchase price minus resale value.
- Calculate energy. For gasoline, divide miles by real-world mpg and multiply by your local fuel price. For electricity, divide miles by miles per kWh and multiply by the rate for each charging location.
- Add maintenance, repairs and tires. Use the manufacturer schedule, tire replacement intervals and a reserve for unscheduled work. Do not assume an EV has zero maintenance.
- Add insurance, registration, taxes and fees. Request insurance quotes before deciding and include recurring state or local charges.
- Divide the five-year total by years or miles. Report both annual cost and cost per mile so a low-mileage and high-mileage household can compare the result honestly.
| Worksheet line | Gasoline calculation | Hybrid calculation | EV calculation |
|---|---|---|---|
| Effective purchase price | Out-the-door price minus confirmed incentives | Out-the-door price minus confirmed incentives | Out-the-door price minus confirmed incentives |
| Depreciation | Purchase price minus projected resale | Purchase price minus projected resale | Purchase price minus projected resale |
| Energy | Miles ÷ mpg × fuel price | Gasoline miles ÷ mpg × fuel price; add electric miles if plug-in | Miles ÷ miles per kWh × electricity rate, separated by charging location |
| Service and tires | Schedule, repairs and tires | Schedule, repairs and tires | Schedule, repairs and tires |
| Finance, insurance and fees | Actual quote and local charges | Actual quote and local charges | Actual quote and local charges |
Run at least three scenarios: conservative, expected and favorable. Change only uncertain inputs—such as resale value, public-charging share or fuel prices—so you can see whether one vehicle wins by a wide margin or only under one optimistic assumption.
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If you can charge at home, a dedicated Level 2 charger can make daily charging faster and more predictable than a standard household outlet. Installation is not automatically simple: compatibility with the vehicle, available electrical capacity, panel upgrades, wiring distance, permits and local labor rates all affect the installed cost. Confirm the charger’s connector and power requirements, have the electrical work assessed by a qualified professional, and check whether your utility offers a time-of-use rate or rebate.
Do not buy the charger before confirming where the car will park and how the cable will reach it. Renters or apartment residents may need landlord approval, shared charging rules or a public-charging budget. If most charging will be public, substitute actual session prices and realistic waiting or detour costs for the home-rate assumption.
How incentives affect the answer
Federal, state and local incentives can change the purchase-price line, but rules depend on the buyer, vehicle, income, date and transaction structure. Verify current eligibility with the relevant government or tax authority and retain the required documentation. A headline credit is not a universal entitlement.
The U.S. Treasury and IRS reported more than $2 billion in cumulative upfront clean-vehicle savings through their 2024 release date. That is a policy result reported for that period, not a promise that every current buyer receives a particular amount. Recalculate if a credit expires, changes form or cannot be transferred at purchase.
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Evidence limits to keep in mind
AAA’s 2026 result is a selected-model comparison in four categories under a five-year, 75,000-mile framework. AAA states that actual costs vary with driving habits, location and operating conditions. The University of Michigan’s city, vehicle-class and charging-strategy scope reinforces that limitation.
The U.S. Department of Energy’s incremental-cost methodology isolates the additional purchase cost associated with a powertrain; it is useful for understanding upfront differences but does not provide a universal retail total-cost ranking. Likewise, an Energy Innovation estimate of $1,750 per year in fuel and maintenance savings, cited by the U.S. Treasury in 2024, was based on specific 2022 vehicle pairs and stated fuel and electricity prices. It should not be generalized to every driver or model.
Which choice fits your driving pattern?
Choose gasoline when purchase price and flexibility dominate
- You drive relatively few miles and expect to sell the vehicle before fuel savings can repay a higher purchase price.
- You need the lowest upfront price among otherwise comparable vehicles.
- You lack dependable home or workplace charging and public charging would be expensive or inconvenient.
- Local resale data and insurance quotes favor a conventional model.
Choose a hybrid when you want a lower-risk compromise
- You drive enough city or mixed miles for fuel savings to matter but do not have reliable charging.
- The hybrid premium is modest relative to the comparable gasoline trim.
- You want familiar refueling and broad service availability while reducing gasoline consumption.
Choose an EV when usage and charging support the numbers
- You can charge mostly at home or work at a predictable electricity rate.
- You drive enough miles for energy and service savings to offset the purchase-price and depreciation assumptions.
- Your insurance, financing and resale estimates are competitive with the alternatives.
- The vehicle meets your range, weather, towing and road-trip requirements without forcing frequent premium-priced fast charging.
Bottom line for a real buying decision
Start with the exact vehicles, not a slogan about a powertrain. Under AAA’s 2026 matched-category assumptions, gasoline cars were generally cheapest overall, hybrids were the most consistent lower-cost alternative, and EVs minimized energy spending. The winner for your household is the vehicle with the lowest combined purchase, financing, depreciation, energy, maintenance, insurance and fee total after using your mileage, local rates, charging access, incentives and resale assumptions.
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