Are you thinking about making the switch to an electric vehicle (EV) but want to keep the cost manageable? Many good reasons exist to avoid spending a fortune on the most expensive EVs. Perhaps you need an efficient second car for city driving or commuting in high-occupancy vehicle lanes. In these situations, paying a premium for a long-range EV might not make sense when a more affordable option meets your needs.
Alternatively, you might anticipate that by the time your new EV’s lease or loan ends, a wider selection of EVs with improved technology will be available. The cost of installing Level 2 home charging, nearly essential for EV ownership, may also impact your budget for the vehicle itself.
Whatever your reasons, several EVs are available now that won’t break the bank, though they generally still cost more than comparable gasoline vehicles. Keep in mind that EV availability can vary. Some models are only sold in specific states, while others may require reservations for delivery weeks or months later.
Below is a list of 11 of the most affordable EVs you can buy, ranked by their starting price (which includes destination charges). This list only includes all-electric cars; plug-in hybrid and fuel-cell models are excluded. The prices do not include the federal government’s tax credit or any state or local subsidies. It is important to note that the federal subsidy criteria change annually, with stricter guidelines for vehicle eligibility based on battery and materials sourcing. The IRS website also provides a list of automakers and vehicles currently eligible for the credit.
Cheapest EVs
- Nissan Leaf
- Hyundai Kona Electric
- Chevrolet Equinox EV
- Toyota bZ4X
- Ford Mustang Mach-E
- Hyundai Ioniq 6
- Subaru Solterra
- Kia Niro EV
- Nissan Ariya
- Tesla Model 3
- Hyundai Ioniq 5
