Is converting to an Electric Car Cost Effective?

So, during EV (Electric Vehicle)my research, one question was bugging me; Can I really save any money?

At first glance - the outlay of cash upfront is intimidating. Looking at laying out

about $12,000 -figure $10,500 for a kit delivered & $1500 for a donor - (this can be done much more cheaply,but as a beginner, I think I would start with a kit) to convert, for example, an old VW rabbit to run on electricity seems like an AWFUL lot of dough - especially because for that price, you can get a relatively new used car that will get 30 mpg.

So I did some math. (not my forte, corrections gladly accepted)

"Someone please tell me
that I am wrong!"

Lets say you get 30 mpg in your current vehicle. If you drive 10 miles to work each way, and gas costs $3.65 and you work 261 days a year (365-104 days for weekends)you spend... (20 miles X 261 days)/30mpg X $3.65 per gallon - your commute fuel cost is $635.10 per year. Figure $140 for quarterly oil changes and now you are talking $775.10/year. Assuming the batteries for your EV will last 3 years - your total fuel cost for this period is $2325.30.

So, if your commute is 10 miles each way, there is no savings. So much for sticking it to the man.

Where is the break even? You would need a commute of about 50 miles each way, by my math (requiring a place to recharge at work).

Now lets say you push your EV to the max - lets call that 60 miles per day, every day for a year. That's $8413.50 for gas & oil changes for 3 years. Still not enough.

Keep in mind, that this does not include weekend use, dropping the kids off at soccer practice and other short trips that may or may not impact your usage, therfore impacting the value to you. Conversion can also be completed for a lot less money if you are a knowledgeble mechanic or electrician, it just so happens that I am not - so my numbers to convert may be very high in comparison.

Someone please tell me that my math is wrong, hopefully completely wrong - so I can convince my wife that this is a worthwhile project!

Until then, I guess I'll work on an electric bike (that she already let me know I won't be able to ride on the street)