If you’re looking for a new electric vehicle that’s both affordable and eco-friendly, you’ll want to check out this list of the top 10 cheapest electric vehicles under $40,000. The average vehicle is just over this number, meaning anything below that number would begin to be in the affordable category, making this list ideal for people that are hoping to make a switch to electric, but still keep the price point under that number.

You won’t be surprised that Tesla (the biggest name in the industry) is not on this list, as they are more on the luxury market at the moment. However, other brands are making huge strides in making great quality EVs. You will find big names like Chevrolet, Hyundai, Ford and even BMW on this list.

So without more to do, here are the top 9 cheap electric vehicles under $ 40,000!

VehicleMSRP
Chevrolet Bolt EV$25,600.00
Chevrolet Bolt EUV$27,200.00
Nissan Leaf$27,800.00
Hyundai Kona EV$33,000.00
Mazda MX-30$33,470.00
Mini Electric Hardtop$33,900.00
BMW Xi$38,600.00
Hyundai Ioniq 5$39,950.00
Ford F-150 Lightning$39,974.00
Kia Niro EV$39,990.00

1. Chevrolet Bolt EV – $25,600.00 MSRP

The Chevrolet Bolt EV one of the most seasoned electric vehicles on the road today, having been released all the way back in 2016, which was long before anyone really thought electric vehicles would get as big as they are now. This is also the cheapest vehicle on this lsit at a starting MSRP of just $25,600.00.

The Bolt EV has an impressive range of 238 miles per charge and can be fully charged in just over 2 hours with a Level 2 charger. In addition, the Bolt EV comes standard with a long list of features including: keyless entry and start, heated front seats, rear camera mirror, hands-free lift-gate, Wi-Fi hotspot, and an infotainment system with Apple CarPlay and Android Auto compatibility.

With its combination of range, features, and being the most affordable new electric vehicle on the market today, the Chevrolet Bolt EV is sure to appeal to a wide range of customers.

2. Chevrolet Bolt EUV – $27,200.00 MSRP

Yep, the second cheapest electric vehicle on the road today is the EUV version of the Chevy Bolt! With an MSRP of just $27,200.00, you can think of this as an extended wheel base version of the Chevy Bolt as it has an additional 3 inches of rear leg room, and is styled more like an SUV than the EV’s sedan like appearance.

Despite its budget price tag, the Bolt EUV comes packed with features that make it an appealing option for EV shoppers. For starters, it has a range of 247 miles on a single charge (more than the EV version), making it ideal for longer-distance travel.

It also comes standard with Chevy’s infotainment system, which includes features like Apple CarPlay and Android Auto. In addition, the Bolt EUV offers a number of driver-assistance features, such as lane-keep assist and automatic high beams. As a result, the Bolt EUV is a great option for budget-conscious shoppers who are looking for an electric vehicle with all the bells and whistles.

In the end, if you want a more car like feel, the EV is your best choice, if you want a more SUV feel, the EUV is your better bet.

3. Nissan Leaf – $27,800.00 MSRP

The Nissan Leaf has been around all the way back in 2010, making it the most seasoned EV name on this list. The Bolt is one of the most affordable new electric vehicles on the market, with a starting price of just $27,800.

The Leaf comes standard with a 40 kWh (upgradable to 62kWh) battery pack that offers up to 150 miles of range, and can be recharged up to 80% in as little as 30 minutes using a Level 3 fast charger.

Other standard features include LED headlights, automatic climate control, and a 8-inch touch screen display. The Leaf also comes with a host of advanced safety features, including automated emergency braking and lane keep assist. For those looking for an affordable and practical electric vehicle, the Nissan Leaf is hard to beat.

Out of the top 3 new cheapest EVs on the market today, this one would be my personal choice!

4. Hyundai Kona EV – $33,000.00 MSRP

Hyundai has been pumping out some awesome vehicles lately, all with the best tech, and quality I have seen. The years of Kia and Hyundai being budget brands, meant to be disposable vehicles is gone, and now they are making some of my favorite vehicles to be released. The Kona Electric is one of those vehicles.

Hyundai’s Kona Electric vehicle is one of the cheapest new electric vehicles on the market, with a starting price of just $33,000. Despite its relatively affordable price tag, the Kona EV comes packed with a variety of features that make it an attractive option for budget-conscious buyers.

For starters, the Kona EV has a range of up to 258 miles on a single charge, making it ideal for long-distance travel. Additionally, the Kona EV comes standard with adaptive cruise control, lane keeping assist, and automatic emergency breaking – all of which are significant safety features.

The styling of the Kona EV is a huge upside, as it doesn’t follow the teardrop design that many EVs are known for, making it a stealth EV for those that want the electric propulsion, but don’t want to show it off.

5. Mazda MX-30 – $33,470.00 MSRP

The MX-30 is a bit of an odd-ball! While it is one of the least expensive EVs on the market today, it does also only offer 100 miles in range for the base price $33,470.00 that you are paying. Now, if you are someone that only drives short distances daily, and you end up at home to charge back up every day, this shouldn’t be much of a concern. However, if you are looking for this vehicle to be your only vehicle, you might be missing out on those longer trips.

Essentially, Mazda believes that you will purchase this as your daily driver, and will likely have an ICE (internal combustion engine) vehicle as well. If this sounds like you, this could be a fantastic option, as Mazda’s have always been a favorite of mine. It’s sleek styling, higher end interior, and an 8 year warranty should continue to keep this vehicle on your short list.

Yes, of course this vehicle also comes with Apple Carplay/Android Auto, but it also has stop and go cruise control, LED headlights, and so much more.

6. MINI Electric Hardtop – $33,900.00 MSRP

Who wouldn’t want a Mini electric vehicle? The all-new MINI Electric Hardtop is one of the most affordable electric vehicles on the market, with a starting MSRP of just $33,900.00. The MINI Electric Hardtop has a range of up to 114 miles on a single charge (meaning, much like the MX-30), making it perfect for city driving.

It also comes with quick charging capabilities that allow you to achieve an 80% charge in just 35 minutes. In terms of performance, the MINI Electric Hardtop is not quite up to par of many other EVs, with a 0-60 time of just 7.5 seconds.

Finally, the MINI Electric Hardtop comes standard with a suite of advanced driver assistance systems that help you stay safe on the road. All told, the MINI Electric Hardtop is an excellent option for budget-conscious EV shoppers who are looking for an affordable and feature-packed electric vehicle.

7. Hyundai Ioniq 5 – $39,950.00 MSRP

If you are shopping for an EV under $40K, then you should consider the Ioniq 5. This is hands down my favorite EV on this list. It’s design is both restrained, yet muscular, and refined. It really is unlike any other electric vehicle on the market today.

The Hyundai Ioniq 5 has a starting price of $39,950, making it one of the cheapest new electric vehicles on the market. The Ioniq 5 is a compact SUV (not a sedan as you would firstt believe) that seats five and has a range of up to 220 miles on a single charge.

It comes standard with features such as Apple CarPlay and Android Auto, as well as a wireless charging pad for smartphones. The Ioniq 5 also has optional features such as a sunroof and heated front and rear seats. In terms of performance, the Ioniq 5 has a 0-60 time of 4.4 seconds and a top speed of 116 mph, making it a blast to drive.

Overall, the Hyundai Ioniq 5 is an affordable electric vehicle with a long list of features.

8. Ford F-150 Lightning – $39,974.00 MSRP

I’m sure you are probably surprised to find a full-size electric pickup on this list. I think everyone was when Ford announced the new Ford F-150 Lightning, with a base MSRP of $39,974.00. We were all expecting a great quality truck, built on the F-150 name, that would offer a host of features, but no one expected it to cost under $40,000, yet here we are.

The all new Ford F-150 Lightning comes in at an MSRP of $39,974.00, making it one of the cheapest new electric vehicles on the market. The F-150 Lightning has a base range of 230 miles and can go from 0-60 mph in under 4.5 seconds.

It also comes with a standard 110kW fast charger that can charge the vehicle from 15% to 80% in around 44 minutes.

The F-150 Lightning is also available with an optional extended range battery that gives the vehicle a range of over 400 miles. Overall, the Ford F-150 Lightning is a great option for anyone looking for a cheap, electric vehicle that is packed with features, and has a truck bed at the back (that is 5′ 6″ by the way).

You likely will start to find these pickups used as work trucks soon…. now… I wonder if they will create an electric Maverick.

9. Kia Niro EV – $39,990.00 MSRP

You guessed it! Another Kia/Hyundai product on this list! How many more of these do you need, before you realized that Kia and Hyundai are doing great things for the automotive industry.

The Kia Niro EV is the last affordable EV on this list, with a starting MSRP of just $39,990. It’s also an efficient EV, with a range of up to 239 miles on a single charge.

It comes packed with features that make it a great choice for anyone looking for an electric vehicle, including an 8-inch touch screen display, heated and ventilated front seats, and a wireless charging pad. Plus, its unique “DTV-tuner” allows you to watch over-the-air digital TV without using any data. So if you’re in the market for an electric vehicle, the Kia Niro EV should definitely be on your radar.

What are the top cheap used electric vehicles?

1. BMW i3

The i3 has long been a popular option in the electric car market, and for good reason. It’s a stylish (yet, funky) and efficient car that offers a comfortable ride and plenty of features.

It’s also one of the most affordable electric cars on the market, making it a great choice for anyone looking to switch to an electric vehicle. And because it’s a used car, that is no longer made, you can often find great deals on the i3 in a variety of places.

2. Fiat 500E

The Fiat 500E is a great used electric vehicle to buy under 40,000 dollars. Its MSRP when new was $34,290 and it gets 111 miles per gallon equivalent (MPGe), which means that it only costs $371 per year to drive the car for 15,000 miles.

The car has a range of 87 miles and can be fully charged in less than 4 hours with a Level 2 charger. The Fiat 500E is a great city car because it is small and maneuverable, but still has enough space for four people and their luggage. It is also very quiet and has a smooth ride . If you are looking for a used electric vehicle, the Fiat 500E should definitely be on your list.

3. Tesla Model S

Ahh, the first Tesla in this article! Now that the Tesla Model S has been around for nearly a decade, you are starting to find some of the original design Model S’ on the market for under $40,000.

Though it typically retails for well over $40,000 new, you can often find lightly-used ones for under that price point. The Model S was first introduced in 2012 and quickly became popular for its luxury features and long range – at the time, it was the only EV on the market that could travel over 200 miles on a single charge.

Even today, it has one of the longest ranges of any EV, making it a great choice for long-distance road trips. In addition, the Model S comes loaded with high-end features like heated leather seats, an enormous sunroof, and an 17-inch touch screen display. So if you’re looking for a used EV that won’t break the bank, be sure to check out the Tesla Model S.

4. Volkswagen e-Golf

The Volkswagen e-Golf is a great used Electric Vehicle to buy under $40,000. It’s a hatchback that has plenty of room inside of it for both driver and passengers. It also has a nice sized trunk. The e-Golf gets its power from an electric motor that is powered by a lithium ion battery pack.

This battery pack gives the car a range of approximately 125 miles on a single charge. The e-Golf can be plugged into a standard household outlet to recharge the battery. The charging process takes about eight hours to complete. The e-Golf is also very quiet and smooth to drive. If you’re looking for an electric car that’s fun to drive and easy on the wallet, the Volkswagen e-Golf is a great choice.

5. Tesla Model 3

The Tesla Model 3 is a great used Electric Vehicle to buy under $40,000. It has a range of up to 300 miles on a single charge, and can accelerate from 0-60 in 3.2 seconds.

The Model 3 also comes with a number of safety and driver-assistance features, including Autopilot and Supercharging. While the Model 3 may be slightly more expensive than other used EVs on the market, it offers superior performance and range, making it an excellent choice for anyone looking for a used EV under $40,000.

Conclusion

Electric vehicles are becoming more and more popular , but they are still relatively expensive. However, there are a few electric vehicles on the market that are relatively affordable. The Ford F-150 Lightning, Kia Niro EV, and Nissan Leaf are all great options for anyone looking for a cheap electric vehicle. So if you’re in the market for a new car, be sure to check out these options. Thanks for reading!