Used EV vs Petrol: 5-Year Total Cost of Ownership

People compare a used EV and a used petrol car on the one number that matters least: the sticker price. The real question is total cost of ownership (TCO) — everything you'll spend over the time you own it. Across five years, the two diverge on six separate cost lines, and the winner flips depending on how you drive and where you charge.

Rather than quote figures that vary by country and month, here's the framework — the six lines that decide it, who wins each, and the two questions that settle the whole thing.

The six cost lines

1. Purchase price — often EV now

EVs depreciated hard, so a used EV can cost similar to or less than an equivalent-age petrol car. Once a clear petrol win, this line is now frequently neutral-to-EV on the used market. (More on the depreciation story in are used EVs worth it.)

2. Depreciation while you own it — usually EV

This is the cost most people ignore and it's the biggest one. Because used EVs already took their steep early hit, they tend to depreciate more slowly from here — you lose less of what you paid (project it for a specific price and year). A petrol car bought at the same age has more fall left in it. Edge: EV (but model-specific).

3. Fuel vs charging — EV, often dramatically

The headline EV advantage — if you charge at home. Home/overnight charging is far cheaper per km than petrol; rely on public rapid charging and the gap narrows or vanishes. This single line is where most of the EV saving lives. See home vs public charging costs.

4. Maintenance & servicing — EV clearly

No oil changes, no timing belt, no clutch/exhaust; brakes last far longer thanks to regen, and EVs break down less. Servicing an EV is genuinely cheaper year on year — detailed in EV maintenance costs. Edge: EV.

5. Insurance — often petrol

EVs can cost more to insure — they're heavier, quicker, and pricier/more complex to repair after a crash. Not always, but frequently a point for petrol. Always get a real quote on the specific car.

6. Tyres & road tax — mixed

EVs are heavy and torquey, so tyres can wear faster (a petrol point). Road tax/incentives vary by country and are changing as EV-specific perks get phased out — check current local rules rather than assuming a saving.

The scoreboard

Cost line	Typically wins
Purchase price	EV (or neutral)
Depreciation (while owned)	EV
Fuel / charging	EV — if home charging
Maintenance & servicing	EV
Insurance	Petrol
Tyres / road tax	Mixed

On paper the EV wins more lines — but the size of lines 3 and 4 (charging + maintenance) is what makes or breaks the total, and line 3 hinges entirely on home charging.

The two questions that decide it

Everything collapses to:

1. Can you charge at home (ideally overnight)?
   • Yes → the fuel + maintenance savings usually make a used EV the cheaper car to own over five years, often comfortably.
   • No → you lose the biggest line; a used petrol (or full hybrid) is frequently the cheaper, simpler choice.
2. How many km/year do you drive?
   • High mileage amplifies the EV's per-km fuel + maintenance advantage → EV pulls further ahead (with home charging).
   • Very low mileage → the running-cost savings are smaller, so purchase price, insurance and depreciation dominate, and the gap narrows.

Bottom line

Over five years, a used EV is usually the cheaper car to own — if you can charge at home and do meaningful mileage. Without home charging, or for very low annual distances, a used petrol or hybrid often wins on total cost. Compare the whole picture, not the sticker.

Before you commit either way, run the specific car through the AutoFindr analyzer — make, model, year, mileage, fuel type — for engine/battery reliability, expected repair costs, and a fair-price band, so the TCO math starts from a sound car. For EVs, pair it with a battery-health check; for petrol, the usual mechanical due diligence.

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