If you’re cross‑shopping a Hyundai IONIQ 5 against a similar gasoline SUV, the big question is simple: what does an IONIQ 5 vs gas car cost comparison look like in the real world, fuel, maintenance, and total ownership over several years?
What this guide covers
Why compare IONIQ 5 vs a gas car on cost?
Sticker price is only the start. The IONIQ 5 often costs more up front than an equivalent gas SUV, but it’s cheaper to “fuel” and maintain. Over 5–10 years, those operating costs can outweigh the higher purchase price, especially if you buy a used IONIQ 5 that’s already taken its initial depreciation hit.
At Recharged, we see more shoppers doing a total‑cost‑of‑ownership comparison instead of just asking, “What’s the monthly payment?” That’s smart, especially now that average U.S. gas prices in 2024 were around $3.30 per gallon, while average residential electricity is roughly 17¢ per kWh as of early 2025. Those two numbers alone tilt the math toward EVs for many drivers.
Quick answer: Does the IONIQ 5 really save money?
IONIQ 5 vs gas SUV: At-a-glance cost picture
Short version
How we ran the numbers (assumptions & sources)
To make this ioniq 5 vs gas car cost comparison practical, we had to make a few realistic, U.S.‑based assumptions instead of inventing perfect scenarios.
- Annual mileage: 12,000 miles (close to the U.S. average; adjust later for your needs).
- Gasoline price: $3.30/gal (2024 U.S. average for regular gas).
- Electricity price (home): 17¢/kWh (average U.S. residential rate in early 2025).
- Public DC fast charging: assumed at 35–45¢/kWh; we’ll use 40¢/kWh when it matters.
- IONIQ 5 efficiency: 2.8–3.2 mi/kWh depending on climate and driving; we’ll use 3.0 mi/kWh.
- Gas SUV efficiency: 24–28 mpg; we’ll use 25 mpg for a fair compact SUV comparison.
- Ownership horizon: 5 years, since that’s a common financing term and lines up with many cost‑of‑ownership calculators.
Your state may look different
Fuel and energy cost per mile: IONIQ 5 vs gas SUV
Let’s start with the simplest, most tangible number: what it costs you to move each vehicle one mile down the road.
Estimated energy cost per mile
Based on recent U.S. averages for electricity and gasoline prices.
| Vehicle | Assumptions | Math | Energy cost per mile |
|---|---|---|---|
| Hyundai IONIQ 5 (home charging) | 3.0 mi/kWh, 17¢/kWh | $0.17 ÷ 3.0 | ≈ $0.057/mi (5.7¢) |
| Hyundai IONIQ 5 (20% fast charge, 80% home) | 80% at 17¢/kWh, 20% at 40¢/kWh | Blended rate ≈ 21.4¢/kWh | ≈ $0.071/mi (7.1¢) |
| Hyundai IONIQ 5 (mostly fast charging) | 3.0 mi/kWh, 40¢/kWh | $0.40 ÷ 3.0 | ≈ $0.133/mi (13.3¢) |
| Compact gas SUV (25 mpg) | Gas: $3.30/gal | $3.30 ÷ 25 | ≈ $0.132/mi (13.2¢) |
| Efficient gas car (32 mpg) | Gas: $3.30/gal | $3.30 ÷ 32 | ≈ $0.103/mi (10.3¢) |
These are national‑average examples; your local prices may be higher or lower.
If you mostly charge at home, your IONIQ 5’s energy cost per mile is less than half that of a 25‑mpg gas SUV. If you lean heavily on fast charging, the advantage shrinks or can even vanish, another reason home charging access matters so much.
How much do you actually save on fuel?
5‑year total cost: IONIQ 5 vs comparable gas SUV
Fuel is only one piece of the ownership puzzle. To compare apples to apples, it helps to look at a 5‑year cost‑of‑ownership breakdown that includes depreciation, financing, insurance, taxes and fees, maintenance, and repairs.
Recent 5‑year cost‑to‑own estimates for a new 2024 IONIQ 5 put total ownership around the low‑$60,000 range for a mid‑trim model, covering everything from depreciation to insurance and roughly $7,600 in electricity over five years. A similar‑priced gas SUV from a mainstream brand typically ends up several thousand dollars more expensive on fuel and maintenance, even if its sticker price is a bit lower.
Example: New Hyundai IONIQ 5 (5 years)
- Purchase price: Around a well‑equipped compact SUV.
- Fuel (electricity): ≈ $7,500–$8,000 over 5 years at national average rates.
- Maintenance + repairs: Around $5,500–$6,000 combined in first 5 years.
- Total 5‑yr cost (all in): Low $60Ks, depending on trim and incentives.
These figures assume mostly home charging and standard warranty coverage.
Example: Comparable gas SUV (5 years)
- Purchase price: Often slightly lower than an IONIQ 5 on day one.
- Fuel (gasoline): ≈ $12,000–$13,000 over 5 years at 25 mpg and $3.30/gal.
- Maintenance + repairs: Often $2,000–$3,000 more than an EV over 5 years.
- Total 5‑yr cost (all in): Frequently in the mid $60Ks or higher once fuel and service are included.
Exact numbers vary by brand, incentives, resale value, and where you live.
The key takeaway
Maintenance and repairs: Where EVs really pull ahead
Even if gas and electricity cost the same per mile, EVs like the IONIQ 5 still have a structural advantage: fewer moving parts and no engine‑related fluids. That shows up in your long‑term maintenance line items.
Common maintenance: IONIQ 5 vs gas SUV
Fewer systems to service usually means fewer surprise bills.
Hyundai IONIQ 5
- No oil changes, spark plugs, timing belts, or exhaust work.
- Brake pads last longer thanks to regenerative braking.
- Typical routine items: cabin air filter, brake fluid intervals, tire rotations, alignment.
- Battery and electric drivetrain components are usually covered by long warranties.
Comparable gas SUV
- Regular oil and filter changes (2–4 per year).
- Transmission fluid service, spark plugs, belts, exhaust components over time.
- More wear‑items that can fail outside warranty.
- More frequent brake service in stop‑and‑go driving.
Typical maintenance savings
Insurance, taxes, and depreciation differences
On the cost side of the equation that EV fans don’t always highlight, the IONIQ 5 can be more expensive to insure than a basic gas crossover, and depreciation patterns matter if you buy new.
- Insurance: EVs sometimes carry higher comprehensive and collision premiums because of pricier electronics and body parts. The difference vs a gas SUV is highly insurer‑ and region‑dependent, so it’s worth getting quotes for specific VINs.
- Taxes and fees: Some states add annual EV registration fees to make up for lost gas tax revenue, which can nibble at your fuel savings. Others offer rebates or reduced registration costs.
- Depreciation: EVs, including the IONIQ 5, took steep early‑year depreciation in the first wave of incentives and rapid tech improvements. That’s painful if you buy new and sell early, but a big opportunity if you buy used and let the first owner absorb that drop.
How Recharged handles depreciation risk
Buying used: IONIQ 5 vs used gas SUV
On the used market, the math often tilts even further toward the IONIQ 5 because depreciation has already done much of its work. You’re essentially buying into lower fuel and maintenance costs without paying full new‑car pricing.
Used IONIQ 5
- Purchase price: Substantially discounted vs new, especially for 2–3‑year‑old models.
- Battery health: The swing factor. A healthy pack supports long‑term savings; a weak one can eat into them.
- Operating costs: You still enjoy low fuel and maintenance compared with gas.
This is where a verified battery report, like the Recharged Score, really matters.
Used gas SUV
- Purchase price: Also benefits from early depreciation, often cheaper than a comparable used IONIQ 5.
- Operating costs: Higher fuel and maintenance costs continue, and major repair risk grows as the vehicle ages.
- Long‑term risk: Engine, transmission, and emissions‑system failures can easily wipe out purchase‑price savings.
Three questions to ask about a used IONIQ 5
When a gas car can still be cheaper (for now)
Despite all the advantages an IONIQ 5 brings, there are still scenarios where a gas vehicle edges it out on cost, especially over shorter time horizons or in certain regions.
Situations where a gas SUV may win on cost
Short‑term ownership and local prices matter.
Very short ownership window
No home charging access
Unusual local price mix
Don’t forget resale value
How to estimate your personal break-even point
You don’t need a spreadsheet to understand whether an IONIQ 5 makes financial sense for you. A few back‑of‑the‑envelope calculations get you surprisingly close.
5‑step break‑even calculator you can do on a napkin
1. Estimate your annual miles
Look at your last year of odometer readings, service records, or a smartphone‑tracking app. If you commute, multiply your round‑trip distance by workdays, then add weekend driving.
2. Look up your local gas and electricity prices
Grab today’s regular‑grade gas price from any gas app and your kWh rate from your electric bill. If your rate is tiered or time‑of‑use, use a reasonable blended estimate.
3. Calculate fuel cost per mile
For your current or target gas SUV, divide the price per gallon by its realistic mpg. For the IONIQ 5, divide your electricity price per kWh by your expected mi/kWh (start with 3.0).
4. Multiply by annual miles and years of ownership
Convert the difference in cost per mile into annual dollars, then multiply by how long you plan to keep the vehicle. That’s your potential fuel‑only savings with the IONIQ 5.
5. Add rough maintenance differences
If you’re switching from an older, maintenance‑heavy gas vehicle to a young IONIQ 5, assume hundreds, possibly thousands, of dollars in extra repair savings over 5 years. If both are new, the gap may be smaller early on but grows as the gas car ages.
Use real VINs, not averages
FAQ: IONIQ 5 vs gas car costs
Frequently asked questions about IONIQ 5 vs gas car cost
Bottom line: Is the IONIQ 5 worth it vs gas?
When you look beyond the window sticker, the Hyundai IONIQ 5 stacks up very well against a comparable gas SUV. With home charging and typical U.S. gas and electricity prices, it usually wins on fuel cost per mile, trims hundreds of dollars a year from maintenance, and becomes cost‑competitive, if not cheaper, over a 5‑year horizon.
A gas SUV can still make sense if you plan to keep it only a year or two, can’t install home charging, or live where electricity is unusually expensive. But the moment you extend your timeline and drive a typical number of miles, the IONIQ 5’s economics start to look compelling, especially if you buy a well‑priced used example with a healthy battery.
