Toyota Corolla (LE gas)
$43,561 / 5 yr
$726/mo$0.58/km
Lowest 5-yr cost
EV vs gas cost in Ontario, Canada (2026) — the true 5-year total
As of July 2026: of the 51 models we track in Ontario, Canada, the cheapest to own over 5 years is the Toyota Corolla (LE gas) at $43,561 — a gas car. The cheapest electric, the Chevrolet Bolt (2027, LT) ($51,341), runs about $7,780 more — we say it plainly when the gas or hybrid car wins.
What an EV really costs to own in Ontario versus gas or a hybrid, at Ontario's electricity price of 10.30c/kWh — depreciation, charging, insurance, maintenance and registration, every figure sourced and dated. Gasoline, fuel and incentives are Canada-wide; only electricity changes by province.
Example comparison — change the vehicles belowOver 5 years, the Toyota Corolla (LE gas) (gas car) is the cheapest at $43,561 — about $7,796 less than the Tesla Model 3 ($726/mo, $0.58/km).
Total cost of ownership, cheapest first
Tesla Model 3 (RWD)
$51,357 / 5 yr
$856/mo$0.69/km
+$7,796 more than the Toyota Corolla (18%)
Tesla Model Y (Standard RWD)
$58,992 / 5 yr
$983/mo$0.79/km
+$15,431 more than the Toyota Corolla (35%)
Cumulative cost over time
Total spend by each year — purchase, charging/fuel, depreciation, insurance and financing combined. Where two lines cross is your payback point.
Tesla Model 3Toyota CorollaTesla Model Y
Tesla Model 3 never beats Toyota Corolla within 5 yrs · Tesla Model Y never beats Toyota Corolla within 5 yrs
Where the money goes (full breakdown)
| Cost component | Electric · Tesla Model 3 | Gas · Toyota Corolla | Electric · Tesla Model Y |
|---|---|---|---|
| Depreciation (estimated) | $23,194 (45%) | $12,750 (29%) | $28,994 (49%) |
| Charging / fuel | $1,803 (4%) | $8,946 (21%) | $1,757 (3%) |
| ↳ of which charging loss | 12% (~$216) | — | 12% (~$211) |
| Maintenance | $3,248 (6%) | $5,873 (13%) | $3,248 (6%) |
| Insurance | $15,655 (30%) | $11,445 (26%) | $15,655 (27%) |
| Financing interest | $6,957 (14%) | $4,047 (9%) | $8,837 (15%) |
| Registration & fees | $500 (1%) | $500 (1%) | $500 (1%) |
| Total cost of ownership | $51,357 | $43,561 | $58,992 |
Ontario reference numbers
- Electricity (Ontario)
- 10.30c/kWhprovincial utilities · 2026-07-01
- Gasoline (Canada)
- $1.68/LCAA
- Charging loss (modeled)
- 12%EPA / SAE J1634
- Maintenance ($/yr)
- EV $650 vs gas $1175est.
- Insurance ($/yr, avg)
- EV $3,131 vs gas $2,289est.
- Federal EVAP (BEV)
- up to $5,000Transport Canada
Cheapest to own in Ontario, Canada
Every model, ranked by true 5-year cost at Ontario rates (15,000 km/yr, all-in). Tap a column to sort, or filter by type:
Canada head-to-head: EV vs gas/hybrid
Tesla Model 3 (RWD)vsHonda Civic (LX sedan, gas)Tesla Model Y (Standard RWD)vsToyota RAV4 (Hybrid LE AWD)Tesla Model Y (Standard RWD)vsHonda CR-V (LX gas FWD)Chevrolet Equinox EV (LT FWD)vsToyota RAV4 (Hybrid LE AWD)Hyundai Ioniq 5 (RWD Long Range)vsHonda CR-V (LX gas FWD)Kia EV6 (Light RWD)vsToyota RAV4 (Hybrid LE AWD)Volkswagen ID.4 (Pro RWD)vsHonda CR-V (LX gas FWD)Ford Mustang Mach-E (Standard Range RWD)vsHonda CR-V (LX gas FWD)Nissan Ariya (SV FWD)vsToyota RAV4 (Hybrid LE AWD)Hyundai Kona Electric (Preferred)vsHyundai Tucson (Essential gas FWD)Ford F-150 Lightning (XLT Extended Range)vsFord F-150 (XL gas, 2.7L EcoBoost)Honda Prologue (EX AWD)vsHonda CR-V (LX gas FWD)
Ontario cost by model
Electric
$51,3575-yr cost$58,9925-yr cost$63,3945-yr cost$58,3425-yr cost$56,5265-yr cost$57,4295-yr cost$55,9995-yr cost$67,2775-yr cost$58,1035-yr cost$61,8305-yr cost$54,6985-yr cost$80,0005-yr cost$62,7485-yr cost$62,6385-yr cost$67,2925-yr cost$57,5615-yr cost$62,7295-yr cost$51,3415-yr cost$65,8255-yr cost$77,3055-yr cost$61,1325-yr cost
Plug-in hybrid
Hybrid
Gas
$43,5615-yr cost$46,8595-yr cost$57,0155-yr cost$53,1945-yr cost$69,0515-yr cost$63,7625-yr cost$67,5235-yr cost$45,8355-yr cost$51,3275-yr cost$73,2405-yr cost$56,3505-yr cost$55,3945-yr cost$66,9195-yr cost$51,3345-yr cost$74,2615-yr cost$72,8385-yr cost$72,3725-yr cost$71,2705-yr cost$73,0945-yr cost$79,7835-yr cost$69,5045-yr cost
← All Canada EV costs (national average)
FAQ
Is an electric car cheaper to own than a gas car in Ontario, Canada?
Usually not at typical mileage, as of July 2026: the cheapest model we track in Ontario, Canada is the Toyota Corolla (LE gas) (a gas car) at $43,561 over 5 years, while the cheapest electric — the Chevrolet Bolt (2027, LT) at $51,341 — runs about $7,780 more. High mileage or cheap home charging can flip it; each comparison page shows exactly when.
Which EV is cheapest to own in Ontario, Canada?
As of July 2026, the Chevrolet Bolt (2027, LT) — about $51,341 over 5 years all-in: depreciation, charging (including losses), insurance, maintenance, registration and financing.
What do electricity and gas cost in Ontario, Canada right now?
Our totals use 10.30c/kWh for home electricity (provincial utilities) and $1.68/L for gas (CAA), as of July 1, 2026.
What does the 5-year total include?
Depreciation, charging or fuel (including the ~12% AC charging loss most calculators omit), insurance, maintenance, registration and financing interest — every source dated.
Estimates for planning, not financial advice. Canada depreciation, insurance and maintenance are dated estimates calibrated to Canada sources. How we calculate →