An electric vehicle usually costs more to buy than a comparable gas car and less to run. Whether it comes out ahead depends on the price gap after any rebate, how far you drive, what you pay for electricity and gasoline, insurance and resale value. This page adds those costs up for an EV and a gas car side by side; it is part of our guide to buying a car in Canada.
Upfront cost comparison
The federal Electric Vehicle Affordability Program (EVAP) takes up to $5,000 off an eligible new battery-electric vehicle in 2026, but only when the final price is $50,000 or less (no cap for Canadian-made vehicles). The two examples below show a trim priced over the cap and one priced within it.
| Category | EV (example: Tesla Model 3) | Gas (example: Toyota Camry) | Difference |
|---|---|---|---|
| MSRP | $55,990 | $34,790 | +$21,200 |
| Federal incentive (EVAP) | $0 (price is over the cap) | $0 | $0 |
| Net purchase price | $55,990 | $34,790 | +$21,200 |
| Category | EV (example: Chevy Equinox EV) | Gas (example: Honda CR-V) | Difference |
|---|---|---|---|
| MSRP | $45,800 | $38,590 | +$7,210 |
| Federal incentive (EVAP, within the cap) | -$5,000 | $0 | -$5,000 |
| Net purchase price | $40,800 | $38,590 | +$2,210 |
EV incentives by province
A few provinces add their own rebate on top of EVAP, and several programs have ended or paused since 2025. Our EV rebates guide lists the federal amount by year and what each province currently offers.
Annual fuel and energy cost
| Factor | EV | Gas car |
|---|---|---|
| Efficiency | 18 kWh/100 km (example) | 8 L/100 km (example) |
| Energy cost | $0.13/kWh (example) | $1.60/L (example) |
| Annual driving | 20,000 km | 20,000 km |
| Annual fuel cost | $468 | $2,560 |
| Annual savings | $2,092/year |
The gap grows with distance: at the same rates, every extra 10,000 km a year adds about half again to each column. Electricity rates differ a lot between provinces, and public fast charging costs far more per kWh than charging at home; our guide to EV charging costs in Canada works through home and public charging costs by province.
Maintenance cost comparison
| Maintenance item | EV (annual) | Gas car (annual) |
|---|---|---|
| Oil changes | $0 | $200-$400 |
| Transmission service | $0 | $100-$200 |
| Brake pads (regenerative braking extends life) | $50-$100 | $200-$400 |
| Engine air filter | $0 | $30-$60 |
| Spark plugs | $0 | $50-$150 |
| Exhaust system | $0 | $100-$300 |
| Coolant flush | $50-$100 | $100-$200 |
| Tires (EVs are heavier, so tires can wear faster) | $300-$600 | $250-$500 |
| Wiper fluid/wipers | $30-$50 | $30-$50 |
| 12V battery | $50-$100 | $50-$100 |
| Total annual maintenance | $480-$950 | $1,110-$2,360 |
| Annual savings (EV) | $630-$1,410 |
Insurance
EVs can cost more to insure than a comparable gas car, mainly because repairs and specialized parts cost more; the difference depends on the model, your province and your driving record, so getting quotes on the specific vehicles you’re comparing is the reliable way to price it. For what drivers pay on average in each province, see car insurance costs by province.
10-year total cost of ownership
| Cost category | EV | Gas car |
|---|---|---|
| Purchase (EV after a $5,000 EVAP rebate, the 2026 maximum; Ontario buyer) | $41,000 | $36,000 |
| Fuel/energy (10 years) | $5,000 | $25,600 |
| Maintenance (10 years) | $7,000 | $17,000 |
| Insurance (10 years) | $22,000 | $18,000 |
| Tires (10 years) | $4,500 | $3,750 |
| Registration/licensing | $1,500 | $1,500 |
| 10-year total | $81,000 | $101,850 |
| Savings (EV) | $20,850 |
This example uses mid-range vehicles with Ontario costs and assumes the EV qualifies for EVAP under the price cap. A provincial rebate, where one is offered, would lower the EV’s purchase cost by its amount. For the yearly costs any car carries (depreciation, insurance, fuel, maintenance and fees), see the cost of owning a car in Canada; for paying for the car, see how to finance a car.
Charging at home and in public
Most EV owners charge at home, either from a standard outlet (slow) or a 240V home charger, which needs an installation and sometimes an electrical panel upgrade; public DC fast charging is quicker but costs more per kWh. The EV charging costs guide covers charger and installation costs, home electricity rates and public charging networks.
Cold weather impact
| Factor | Impact on EVs |
|---|---|
| Range loss in winter | 20-40% reduction at -20°C |
| Heating the cabin | Uses battery (heat pump helps) |
| Precondition while plugged in | Warms battery and cabin without range loss |
| Winter tires | Same need as gas cars |
| Battery degradation | Minimal if managed properly |
| Charging speed in cold | Slower unless battery is preconditioned |
EV vs gas: decision framework
| Factor | EV tends to suit | Gas tends to suit |
|---|---|---|
| Home charging | A garage or driveway with power | A condo or apartment with no charging |
| Daily driving | Under 300 km/day | Very long daily commutes |
| Budget | Room for a higher upfront price (or a lease) | Need for the lowest purchase price |
| Province | A province with its own rebate on top of EVAP (see the EV rebates guide) | Anywhere; EVAP applies in every province even without a top-up |
| Environmental priority | Important to you | Less important |
| Driving style | Mostly city/suburban | Frequent very long highway trips |
| Resale | Popular models | Trucks (currently) |
Resale value
| Vehicle type | 3-year resale (% of MSRP) | 5-year resale |
|---|---|---|
| Popular EVs (Tesla, Hyundai) | 60-75% | 45-60% |
| Budget EVs (Bolt, Leaf) | 45-60% | 35-50% |
| Gas sedans (Camry, Civic) | 65-75% | 50-60% |
| Gas SUVs (RAV4, CR-V) | 70-80% | 55-65% |
EV resale has been improving as demand grows. How depreciation works for any car, and how it changes the new vs used decision, is covered in our new vs used car guide.
Related reading
- EV and plug-in hybrid rebates in Canada
- Renting vs owning a car in Canada
- Leasing vs buying a car in Canada
- Cost of living by province in Canada
Back to: Car buying guide
Sources
The figures and rules on this page come from these sources, last checked against them on September 24, 2026. How we check facts.
- Government of Canada: Electric Vehicle Affordability Program: Overview