Customers ask us whether a used EV saves money. The honest answer: it depends on km/year, home charging, and which gas car you are comparing. Here is the framework our finance team uses — plug in your own numbers.
Five-year TCO buckets
- Purchase price: Used EVs have fallen; used gas SUVs have held value. Compare similar size/class, not new MSRP from five years ago.
- Fuel / energy: 15,000 km/year at home charging ≈ $600–900/year on an efficient EV. Same distance in a 9 L/100 km SUV ≈ $2,000+ at current Ontario gas prices.
- Maintenance: EVs skip oil, spark plugs, exhaust — budget $300–500/year less than a turbo gas SUV, more if the gas car needs timing chain or DCT service.
- Insurance: EVs can run 10–20% higher depending on trim and repair costs — get a quote before you sign.
- Depreciation: The wildcard. Early adopters took hits; 2023+ pricing is more rational. Buy used after the steepest cliff.
Example sketch (not a quote)
Used $45,000 EV vs used $38,000 gas SUV, 18,000 km/year, home Level 2 charging: the EV often closes the $7,000 purchase gap within 3–4 years on fuel and maintenance alone. Without home charging, public DC fast charging at $0.50+/kWh narrows the advantage — run your postal code scenario.
When gas still wins on TCO
Low annual km (under 10,000), no home charging, or you need a body-on-frame truck for work. No ideology — match the tool to the job. We stock EVs, hybrids, and gas because Ontario buyers need all three.
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