Electric vehicles (EVs) continue to gain popularity in the United States, but many buyers still wonder about long-term costs. Over a ten-year period, the total expense of owning an EV or a gas-powered car goes beyond just the sticker price. To make an informed choice, it helps to look closely at fuel, maintenance, tax credits, and resale value.
Fuel and Charging Costs Add Up Differently
One of the biggest differences between an EV and a gas car is the cost of keeping it running. For traditional vehicles, the price of gasoline depends on global oil markets and can rise or fall suddenly. In contrast, EV owners typically charge at home and benefit from more stable electricity rates.
Charging an EV at home often costs less per mile than fueling a gas car. Public charging stations can be more expensive, especially fast-charging locations, but most EV owners rely mainly on home charging. Over ten years, the savings in energy costs can be substantial—especially if gas prices rise or remain high.
Gas car owners, however, may find refueling faster and more convenient in certain areas, especially where charging infrastructure is still growing. Convenience may come at a cost, though, as fuel expenses tend to build up faster over time.
Maintenance and Repairs Tell a Different Story
Electric vehicles have fewer moving parts than gas cars. This means fewer things can go wrong. EVs don’t require oil changes, and there are no spark plugs, timing belts, or exhaust systems to maintain. Brake wear is also reduced in EVs, thanks to regenerative braking systems.
Gas cars, while well-known and widely serviced, often require more routine maintenance. Over ten years, these repairs and upkeep costs add up. According to the U.S. Department of Energy’s Alternative Fuels Data Center, EVs generally cost less to maintain per mile than comparable gas cars.
However, some EV components—like the battery—can be expensive to replace. Most EV batteries are covered by an 8- to 10-year warranty, but costs may arise outside that window. Still, battery failure within the first decade is not common with modern models.
Incentives and Tax Credits Can Tip the Balance
One major benefit of buying an EV in the U.S. is access to federal and state incentives. As of 2025, the federal government offers a clean vehicle tax credit of up to $7,500 on qualifying EVs. Some states add their own rebates or perks, such as access to carpool lanes or reduced registration fees.
These incentives can make the initial purchase price more manageable, especially when stacked with long-term fuel and maintenance savings. Gas-powered cars do not qualify for these kinds of financial breaks, making EVs potentially more affordable when considering total cost of ownership.
That said, not every EV model qualifies for the full tax credit. Income limits, vehicle assembly location, and battery sourcing rules can affect eligibility. Still, for many buyers, these incentives offer real financial relief in the first year of ownership.
Resale Value and Market Trends Matter
In the past, gas cars often held their value better than electric vehicles. That trend is now changing. As EV technology improves and more buyers embrace electric models, demand for used EVs is growing. Additionally, federal incentives for used EVs may increase the appeal of these vehicles in the resale market.
Resale value depends heavily on brand, model, battery condition, and market demand. Well-maintained EVs with longer range tend to hold value better than earlier models with limited range. Meanwhile, gas cars may face declining demand as more cities and states promote cleaner vehicles.
Still, some buyers may prefer gas cars for road trips or areas with limited charging access. This ongoing shift in consumer preference will continue to shape resale values in both directions over the next decade.
Looking Beyond the Sticker Price
Choosing between an electric vehicle and a gas car involves more than just the price tag on the lot. While EVs often cost more upfront, their lower fuel and maintenance costs, combined with available tax incentives, can make them more affordable over time.
Gas-powered cars may offer more familiarity and faster refueling, but their long-term expenses can stack up quickly. As infrastructure improves and EV technology advances, more buyers may find that the electric option delivers better value over the full ten-year period.
What the Next Decade Could Mean for You
Looking ahead, the gap in ownership costs between EVs and gas cars is likely to widen. Charging networks are expanding, battery prices are falling, and new tax policies continue to favor electric vehicles. Meanwhile, fuel and maintenance costs for gas-powered cars remain unpredictable.
If you’re planning to buy a new vehicle and keep it for the next ten years, consider more than just the drive. Think about how you’ll fuel it, what repairs might cost, and how the world is changing around your car. In many cases, the smart long-term choice could be electric.