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 price, the cheapest to own over 5 years in Ontario, Canada 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 · 2026-08-06
- 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
What is different about Ontario's numbers
Home electricity in Ontario is 10.30c/kWh — 37.6% below the 16.50c Canada average (provincial utilities, 2026-08-06), which makes Ontario 3rd cheapest of the 7 provinces we price, between Quebec at 6.90c and Alberta at 28.00c. Gasoline stays Canada-wide at $1.68/L (CAA), as do registration and incentives, so Ontario changes exactly one input on this page.
What the provincial utilities figure for Ontario actually is: OEB RPP Tiered Tier 1 (eff 2025-11-01); Tier 2 ~0.125. TOU/ULO available — ULO 0.039 overnight is best for EV home charging but 0.391 on-peak is punitive. HST applies.
Run all 49 models that have their own cost page through the kernel at both rate sets and the average electric car's 5-year total in Ontario lands $1,252 below its Canada-average figure, while a gas or hybrid car's total does not move by a cent — in Canada only electricity changes by province. Net effect: Ontario narrows the gap an EV has to close by about $1,252. At Ontario rates EVs take 0 of the 12 head-to-head matchups we track, against 0 at the Canada average — we publish that whichever way it falls.
Take one car — a Chevrolet Bolt (2027, LT) — and keeping it charged in Ontario for 5 years costs $588 more than in Quebec, the cheapest province, and $3,059 less than in Alberta, the dearest.
Running cost at Ontario prices: a Chevrolet Bolt (2027, LT) draws about $1.83 of electricity per 100 km charging at home in Ontario with the ~12% charging loss counted, against $11.76 of gas for a 7 L/100km car — a gas car would have to do 1.1 L/100km to match the EV's energy bill in Ontario. Nothing on sale with an engine does that, so on energy alone Ontario is about as favourable to an EV as this market gets. Energy is only one line of the total: depreciation and insurance decide the 5-year figure, which is why most of the matchups on this page still go to the gas or hybrid car.
Sorting all 49 models by 5-year cost at Ontario rates instead of the Canada average moves 22 of them out of the position they hold nationally. The ones Ontario moves furthest:
- Chevrolet Blazer EV (LT FWD) — 3 places better in Ontario than at the Canada average, at $62,638 over 5 years here.
- Chevrolet Silverado 1500 (WT 2.7L Turbo) — 2 places worse in Ontario than at the Canada average, at $63,762 over 5 years here.
- GMC Sierra 1500 Pro 2.7L TurboMax (ICE) — 2 places worse in Ontario than at the Canada average, at $67,523 over 5 years here.
No model we price reaches either its cheapest or its most expensive province in Ontario — on every one of them Ontario sits mid-pack.
Cheapest to own in Ontario, Canada
Ranked by true 5-year cost at Ontario's own electricity rate (15,000 km/yr, all-in). Tap a column to sort, or filter by type:
| Type | ||||
|---|---|---|---|---|
| Toyota Corolla (LE gas) | Gas | $24,520 | $43,561 | $726 |
| Toyota Camry (Hybrid SE FWD) | Hybrid | $34,575 | $45,080 | $751 |
| Nissan Kicks S FWD (ICE) | Gas | $27,198 | $45,835 | $764 |
| Honda Civic (LX sedan, gas) | Gas | $29,000 | $46,859 | $781 |
| Toyota RAV4 (Hybrid LE AWD) | Hybrid | $37,500 | $48,042 | $801 |
| Nissan Rogue (S AWD gas) | Gas | $34,598 | $51,327 | $855 |
| Kia Sportage (LX AWD 2.5L gas) | Gas | $32,295 | $51,334 | $856 |
| Chevrolet Bolt (2027, LT) | Electric | $39,999 | $51,341 | $856 |
| Tesla Model 3 (RWD) | Electric | $39,990 | $51,357 | $856 |
| Honda CR-V Hybrid | Hybrid | $43,015 | $52,987 | $883 |
| Hyundai Kona Electric (Preferred) | Electric | $43,999 | $54,698 | $912 |
| Toyota bZ (XLE FWD) | Electric | $45,990 | $55,999 | $933 |
| Chevrolet Equinox EV (LT FWD) | Electric | $46,200 | $56,526 | $942 |
| Volkswagen ID.4 (Pro RWD) | Electric | $47,495 | $57,429 | $957 |
That is the Ontario-relevant slice of the fleet. All 49 models we price, at the Canada average rate, are on the Canada hub.
Matchups that change hands in Ontario
None of them. All 12 head-to-head matchups come out the same way at Ontario rates as at the Canada average: Ontario's electricity price moves an average EV's 5-year total by $1,252, which is never enough to change a winner in Ontario. All 12 Canada matchups →
Provinces whose numbers look like Ontario's
Closest matches to Ontario on home electricity and pump price — where the same car lands nearest to its Ontario total — plus the cheapest and dearest provinces in Canada to run an EV:
- Manitoba → 10.0c/kWh
- British Columbia → 11.9c/kWh
- Quebec → 6.9c/kWh
- Alberta → 28.0c/kWh
Ontario is one of 7 provinces we price: see all of them, and the full 49-model directory →
← 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 August 6, 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.
How much does it cost to charge an EV in Ontario?
About $1.83 per 100 km charging at home at Ontario's residential rate (10.30c/kWh, provincial utilities), including the ~12% charging loss — using a Chevrolet Bolt (2027, LT) as the reference. A gas car doing 7 L/100km burns about $11.76 over the same distance. Cost to charge every model in Canada →
Estimates for planning, not financial advice. Canada depreciation, insurance and maintenance are dated estimates calibrated to Canada sources. How we calculate →