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
We’ll compare the IONIQ 5 to a typical compact gas SUV on fuel/energy cost per mile, 5‑year total cost of ownership, maintenance, and what changes when you buy used instead of new. All numbers are based on late‑2024 and 2025 U.S. price data so they reflect what you’re likely to see today.
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
If you drive around 12,000–15,000 miles per year and can mostly charge at home, an IONIQ 5 will usually beat a similar gas SUV on 5‑year ownership cost, even before tax credits, and even more so if you buy used.
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
If you live in a high‑electricity state (for example, parts of California or Hawaii) or a low‑gas‑price state (parts of the South and Midwest), your personal math will shift. The framework is the same, but you’ll plug in your own local prices.
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?
At 12,000 miles per year, an IONIQ 5 charged mostly at home vs a 25‑mpg gas SUV at $3.30/gal saves roughly $900–$1,000 per year in fuel alone. Over five years, that’s in the $4,500–$5,000 range, before any changes in gas or electricity prices.
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
On a “new vs new” comparison, the IONIQ 5 usually narrows or erases its sticker‑price premium over a similar gas SUV within about 5 years, primarily through lower fuel and maintenance costs.
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.
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Typical maintenance savings
Across mainstream models, many owners see EV maintenance and repair costs come in 30–40% lower than similar gas vehicles over the first 5–8 years, assuming no major collision damage or out‑of‑warranty battery issues.
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
Every used EV listed on Recharged includes a Recharged Score Report with verified battery health and fair‑market pricing. That helps you see whether an IONIQ 5 is priced in line with depreciation trends and how its battery condition compares to similar vehicles.
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
1) What’s the verified battery health and remaining capacity? 2) How was the car typically charged, mostly home Level 2 or frequent DC fast charging? 3) Is the price aligned with mileage, condition, and battery diagnostics? These are exactly the questions Recharged helps you answer with each listing.
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
If you buy new and sell early, fast‑moving EV tech and incentives can pressure resale values. If you’re unsure how long you’ll keep the car, a late‑model used IONIQ 5 or an attractively priced gas SUV might both be safer plays than a brand‑new EV.
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
Once you’ve narrowed your shortlist, plug actual vehicles into insurance quote tools and payment calculators. A specific VIN can easily move your monthly cost by $50–$100 versus generic assumptions.
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.
Next step: Run the numbers on a real car
If you’re ready to see how this plays out with an actual vehicle, browse used IONIQ 5 inventory on Recharged, check each car’s Recharged Score Report, and get pre‑qualified for financing with no impact to your credit. A 10‑minute look at real listings will tell you more than a week of guessing at the pump.
