So, you’re considering making the switch to an electric vehicle. But you’re also smart enough to realize that you don’t need to spend a fortune. There are plenty of good reasons not to drain your savings on the most expensive EV, like, you know, actually using that money for something like sending your kids to college.
Perhaps you’re looking for a practical second car for city driving or commuting in carpool lanes. In these scenarios, there’s no sense in paying a premium for an EV with an enormous range when smaller, more affordable options will easily meet your needs. Or, maybe you’ve correctly guessed that in a few years, after your EV’s lease or loan is up, a wider selection of EVs with significantly improved technology will be available. Even the unexpectedly high cost of installing Level 2 home charging, which is almost necessary for any EV owner might have impacted your budget.
Whatever your reasons, there are less expensive EVs available now, although be aware – they’re generally still pricier than comparable gasoline-powered vehicles. Also, keep in mind that availability can vary.
Some EVs are only sold in particular states, and others may need a reservation and may take weeks or months to deliver. Here are our choices for 11 of the most affordable EVs you can currently purchase, in order of starting price (including destination charges). This list includes only all-electric cars, excluding plug-in hybrids and fuel-cell vehicles. The list prices do not include the federal government’s tax credit, nor any state or local subsidies. Note that the federal subsidy changes from year-to-year, and eligibility for vehicle credits is tied to battery and materials sourcing. The IRS also provides a list of automakers and which vehicles qualify 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
