The cost of keeping a vehicle on the road has never been more debated. Between fluctuating gas prices and the growing push toward electrification, many drivers are wondering if switching to an electric vehicle really saves money. To put things into perspective, let’s compare two very different but equally popular vehicles in America today: a Tesla Model Y and a Toyota Tacoma. One is an electric crossover designed for efficiency and speed, the other is a workhorse pickup with legendary dependability. By breaking down the monthly charging and fueling costs, the financial gap between electricity and gasoline becomes clear.
Charging a Tesla Model Y
The Tesla Model Y is one of the most common EVs on the road, with a battery size of around 75 kilowatt hours and an average range close to 300 miles per charge. Electricity prices vary widely across the U.S., but the national average hovers around 16 cents per kilowatt hour. That means a full charge costs about 12 dollars at home. If the average driver covers 1,200 miles in a month, they will need roughly four full charges, which works out to about 48 dollars. In states where electricity is more expensive, such as California or Hawaii, that bill could be closer to 70 or even 90 dollars. In cheaper states like Idaho, Washington, or North Dakota, monthly costs could dip closer to 35 dollars. Either way, even at the high end, the Model Y is relatively inexpensive to keep charged compared to a gas powered alternative.
Fueling a Toyota Tacoma
The Toyota Tacoma is one of America’s favorite midsize trucks, but fuel efficiency has never been its strong suit. A Tacoma with a V6 engine averages about 20 miles per gallon under mixed driving. Driving 1,200 miles in a month at that fuel economy requires about 60 gallons of gasoline. At the current national average of 3.50 dollars per gallon, that equals 210 dollars per month. If you live in a high fuel cost region such as California, where gas can easily top 5 dollars a gallon, the monthly fuel bill climbs to 300 dollars or more. Even in lower cost regions like Texas or Oklahoma, where gas averages closer to 3 dollars per gallon, you are still paying around 180 dollars a month—over double what a Tesla driver spends to cover the same mileage.
State by State Examples
Electricity and gasoline prices vary enough across the U.S. that location plays a huge role in cost of ownership. In Washington State, where hydroelectric power makes electricity cheap and gas averages around 4 dollars per gallon, a Tesla Model Y might cost just 40 dollars a month to charge, while a Tacoma owner pays about 240 dollars in fuel. In Florida, where electricity averages closer to 15 cents per kilowatt hour and gas hovers near 3.60 dollars, the Tesla still only costs around 55 dollars per month compared to the Tacoma’s 216 dollars. Meanwhile, in California, one of the most expensive energy markets, Tesla owners paying 25 cents per kilowatt hour might spend 80 to 90 dollars monthly, while Tacoma drivers could be shelling out 300 dollars or more for gas.
What Happens When Prices Spike
The savings gap widens dramatically when gas prices rise, as they have in recent years. A sudden increase of 1 dollar per gallon adds 60 dollars to a Tacoma owner’s monthly bill, while electricity prices rarely change as quickly. Even if electricity rates climb slightly, the overall monthly cost for a Tesla remains manageable. On the other hand, public fast charging—while convenient—can erode the savings. A Tesla driver relying heavily on fast chargers might see costs double compared to home charging, pushing monthly bills closer to 100 to 120 dollars. Still, even then, they are usually ahead of a Tacoma’s gas bill.
Other Ownership Considerations
Energy cost is only one factor. Tesla owners save further by avoiding oil changes, spark plug replacements, transmission fluid swaps, and many of the routine services that come with gas vehicles. Over years of ownership, these add up to significant savings. Tacoma owners, meanwhile, enjoy the convenience of refueling in minutes and the widespread availability of gas stations—advantages that still matter in rural or remote areas where chargers are sparse. Insurance and purchase price also affect the total equation, with Teslas sometimes carrying higher premiums but Tacomas holding their value exceptionally well on resale.
The Bottom Line
When comparing monthly energy costs, the Tesla Model Y is far cheaper to run than the Toyota Tacoma. Expect to pay somewhere between 40 and 90 dollars per month to keep the Tesla charged, depending on electricity prices, versus 180 to 300 dollars per month to fuel the Tacoma, depending on where you live. That gap adds up quickly over the course of a year and even more over the life of the vehicle. For those who drive often, the savings are undeniable. For those who need rugged towing, hauling, and off road durability, the Tacoma remains unmatched. But if your decision rests on monthly fueling costs alone, electricity wins almost every time.
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Car loans are one of the most common ways people fund car purchases. Like any other kind of loan, car loans can have certain features that can be regarded as an advantage or a disadvantage to the borrower. Understanding all essential facts about car loans and how they work to ensure that you get the best deal for your financial situation is essential. Here are 25 shocking facts about car loans that most drivers don’t realize:
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