Electric Car Total Cost of Ownership: A 5-Year Comparison

When buying an electric car, the price difference catches the eye first. But the real question is what the total cost will be after a few years of use. The comparison below sets the Lumen L3 against a petrol saloon in a similar segment over five years.

Assumptions

• L3 purchase price 2,149,000 TRY, petrol rival 1,850,000 TRY (difference ≈ 299,000 TRY)
• Electricity: 70% at home (3.4 TRY/kWh), 30% public fast charging (11.5 TRY/kWh); consumption 16.5 kWh/100 km
• Petrol: 60 TRY/L, consumption 7.0 L/100 km
• Maintenance: electric two services in five years (≈ 9,800 TRY), petrol five services (≈ 37,500 TRY)

20,000 km a year

Electricity costs about 19,200 TRY a year and petrol 84,000 TRY. Fuel savings are ≈ 64,800 TRY a year and maintenance savings ≈ 5,500 TRY a year; total ≈ 70,300 TRY. The price difference pays back in about 4.3 years.

30,000 km a year

Electricity costs ≈ 28,900 TRY and petrol ≈ 126,000 TRY; the total annual advantage is ≈ 102,700 TRY. The price difference pays back in about 2.9 years and a net advantage of ≈ 214,000 TRY builds up by the end of year five.

What to factor in

• Insurance: comprehensive premiums on electric cars are usually 10-20% higher.
• Wallbox: installation starts at 24,900 TRY and is typically one-off.
• Resale value: the battery warranty (8 years) and software updates support resale value.
• Taxes: special consumption tax and annual motor vehicle tax brackets vary with price and power, and are updated over time.

Conclusion

Sensitivity: how much does the electricity price matter?

When the home charging share falls from 70% to 40%, electricity cost for 20,000 km a year rises from about 19,200 TRY to 27,300 TRY; the advantage remains, but payback stretches from 4.3 to 4.8 years. That is why charging at home or work is the most decisive variable in total cost.

For corporate users

For companies, depreciation, VAT deduction and fuel expense come into the calculation. Our fleet analysis works these out per vehicle and compares them with a 36-48 month rental alternative.

A checklist for your own calculation

• Determine your real annual mileage and home-charging access
• Add insurance, annual tax and maintenance differences
• Consider resale value over your expected holding period
• Try different scenarios in the calculator

For a user who drives low mileage and covers charging with public fast charging, an electric car may not offer a cost advantage. For a user with home or workplace charging who drives more than 20,000 km a year, five-year total cost is clearly lower. You can use our savings calculator to enter your own numbers.