2026 Hyundai Ioniq 5 cost to own in Tennessee
Electricity & gas updated · insurance, fees & incentives reviewed June 17, 2026 (estimates)
Bottom line
The Hyundai Ioniq 5 costs about $9,300 more to own than the Mazda CX-5 here today — but it pulls ahead on total cost to own if you drive more than 50,000 mi/yr (you're at 12,000) or gas tops $6.98/gal (now $2.95).
Annual charging cost
$770
$0.06/mi at $0.12/kWh
5-year cost to own
$45,200
≈ $9,030/yr all-in
5-year cost vs Mazda CX-5
+$9,300
more to own · fuel alone saves $590/yr
Charging a 2026 Hyundai Ioniq 5 at home in Tennessee costs about $773 a year at the state's average residential rate of $0.12/kWh — among the lowest in the country (6th of 51) — or roughly $0.06 per mile. With Tennessee gasoline near $2.95 a gallon (among the lowest in the country), a comparable Mazda CX-5 would burn about $1,362 of fuel over the same 12,000 miles, so the Ioniq 5 saves roughly $589 a year at the pump. On fuel alone, gas would have to fall below $1.67 a gallon for the CX-5 to cost as little to fuel as the EV costs to charge (the fuel break-even).
Tennessee charges a steep $200 annual EV registration/road-use fee. There is no state purchase incentive, and the federal credit ended in late 2025. All told, the five-year cost to own comes to about $45,200 — roughly $9,030 a year. Against a comparable Mazda CX-5 — counting its depreciation, insurance, fuel, and upkeep — that's about $9,300 more to own over five years, since the federal credit is gone and the EV's insurance and fees run higher.
Adjust the assumptions
Every figure below is editable and every formula is shown. Defaults use Tennessee averages and EPA efficiency for the Hyundai Ioniq 5.
Driving profile
Ownership costs — depreciation, insurance & fees
State + federal. Verify current amounts.
Depreciation is usually the largest line — and the biggest source of uncertainty — so tune it to your own resale outlook. Insurance, registration & incentives default to Tennessee estimates.
Comparison car: Mazda CX-5 ownership
Defaults: depreciation & maintenance from CX-5 data; insurance ≈ 87% of the EV figure; registration assumes no EV road-use fee.
Precision: utility plan, L2 charger, escalation
Grows the 5-yr energy cost. Off (0%) by default.
0% = cash. Adds loan interest to both cars.
Set time-of-use rates manually above. Real utility plans aren't loaded for this state yet.
Annual energy
≈ $770
$0.06/mi
5-year cost to own
≈ $45,200
≈ $9,030/yr all-in
5-yr vs Mazda CX-5
+$9,300
more to own
Energy use & cost (per year)
Gas comparison (Mazda CX-5)
Below this pump price, the Mazda CX-5 is cheaper to fuel than the EV is to charge; above it, the EV wins. (This is fuel only — see total cost to own below.)
5-year total cost of ownership
The operating subtotal is the data-backed part. Depreciation is an estimate and is usually the largest single line — adjust it to your own resale outlook.
5-year cost to own: EV vs gas
Bottom line
The Hyundai Ioniq 5 costs about $9,300 more to own than the Mazda CX-5 here today — but it pulls ahead on total cost to own if you drive more than 50,000 mi/yr (you're at 12,000) or gas tops $6.98/gal (now $2.95).
Gas total includes its depreciation, fuel, insurance, maintenance, and registration (edit them in “Comparison car ownership” above).
Home L2 charger payback
How this is calculated
Annual electricity
(31 ÷ 100 × 12,000 mi) ÷ 0.88 = 4,227 kWh
Home charging cost
3,382 kWh × $0.12 = $392/yr
Public charging cost
845 kWh × $0.45 = $380/yr
Annual energy cost
$392 + $380 = $773/yr
Annual gas cost
(12,000 ÷ 26 mpg) × $2.95 = $1,362/yr
Fuel break-even gas price
$773 ÷ 462 gal = $1.67/gal
EV 5-year TCO
$25,945 + $3,864 + $11,600 + $2,750 + $1,000 − $0 = $45,159
Gas 5-year TCO
$13,200 + $6,808 + $10,090 + $5,500 + $250 = $35,848
5-year ownership difference
$45,159 − $35,848 = +$9,311 (EV pricier)
L2 payback
$1,300 ÷ (($0.45 − $0.12) × 3,382 kWh) = 1.2 yr
Estimates, not quotes. Figures use Tennessee averages and the assumptions above — your real costs depend on your utility plan, driving, insurer, and the incentives you actually qualify for. Verify with your utility, insurer, and state DMV before deciding.
5-year cost to own: Hyundai Ioniq 5 vs Mazda CX-5
Over five years the Hyundai Ioniq 5 costs about $9,300 more to own than the Mazda CX-5.
| 5-year cost | Hyundai Ioniq 5 | Mazda CX-5 |
|---|---|---|
| Depreciation (5 yr) | $25,945 | $13,200 |
| Fuel / energy (5 yr) | $3,864 | $6,808 |
| Insurance (5 yr) | $11,600 | $10,090 |
| Maintenance (5 yr) | $2,750 | $5,500 |
| Registration & fees (5 yr) | $1,000 | $250 |
| Incentives | − $0 | $0 |
| 5-year total cost to own | $45,159 | $35,848 |
Efficiency: 31 kWh/100mi vs 26 mpg. Gas insurance is estimated at ~87% of the EV figure and gas registration assumes no EV road-use fee; depreciation and incentives are estimates. Edit any value in the calculator above.
When ownership costs cross over
Cumulative cost to own, year by year. The single 5-year figure hides when one car overtakes the other — useful if you don't keep a car a full five years.
The Mazda CX-5 stays cheaper to own than the Hyundai Ioniq 5 across all five years — they never cross.
Cumulative cost to own if sold at the end of each year — depreciation realized so far plus running costs, net of one-time incentives.
How each car holds its value
Estimated resale value as a share of MSRP. The Hyundai Ioniq 5 depreciates faster than the Mazda CX-5 — the single biggest reason for the gap above. See the methodology for the basis.
Frequently asked questions
- How much does it cost to charge a Hyundai Ioniq 5 in Tennessee?
- About $773 per year (~$64/month), or roughly $0.06 per mile, at Tennessee's average home rate of $0.12/kWh — assuming 12,000 miles a year and 80% home charging.
- Is a Ioniq 5 cheaper to drive than a CX-5 in Tennessee?
- Yes. Charging the Ioniq 5 costs about $773 a year versus roughly $1,362 to fuel a CX-5, a saving of about $589 a year. The fuel break-even — where charging and fueling cost the same — is $1.67/gal. (That's separate from the total cost to own below.)
- Is a Ioniq 5 cheaper to own than a CX-5 in Tennessee?
- Over five years, not in Tennessee: about $45,200 to own the Ioniq 5 versus $35,800 for the CX-5 — roughly $9,300 more, driven by higher EV insurance and fees plus the expired federal credit. The EV still usually wins on fuel alone.
- What is the 5-year cost to own a Hyundai Ioniq 5 in Tennessee?
- About $45,200 over five years (~$9,030/year), combining depreciation ($25,945), energy ($3,864), insurance ($11,600), maintenance ($2,750), and registration ($1,000), minus $0 in incentives. Adjust any assumption in the calculator above.
- Are there EV incentives in Tennessee?
- We show no state purchase incentive for Tennessee, and the federal clean-vehicle credit ended in late 2025. Programs change often — verify current state and utility offers before buying.
- How accurate are these estimates?
- Electricity and gas prices come from EIA data and are refreshed monthly; insurance, fees, and incentives are state-level estimates you can edit. Every formula is shown in the calculator. Treat the results as ballpark comparisons, not quotes, and confirm with your utility, insurer, and DMV.
Precision mode: use your exact utility rate
Real per-utility time-of-use plans are loaded for major utilities; Tennessee isn't covered yet. You can still model a time-of-use plan manually in the calculator's Precision panel above.