But, what if your fitness level is a ‘work in progress,’ you live near a lot of hills, or want to avoid getting to work a sweaty mess?

These problems can cause you to avoid biking regularly, especially if you don’t have the money to buy a better bike that provides the comfort and longevity you’re looking for.

An electric bike solves these problems.

It shortens the time and distance to your destinations, flattens hills, and makes riding more comfortable, convenient, and effortless – all at a similar price of a regular bicycle.

Still, a regular bicycle is expensive enough, but you could be spending thousands once you factor in a motor. Thankfully, the best electric bikes don’t have to cost more than $500.

If you’re looking for the best electric bikes for under $500, look no further than our lists.

With these recommendations, you’ll reach your destinations in an environmentally friendly way without a significant hit to your wallet.

Best Electric Bikes for the Money: Comparison Table

			Best Choice
Name	ANCHEER Mini Folding Electric Bike	Swagtron Folding Electric E-Bike	Swagtron Folding Electric SwagCycle	Jetson Bolt Electric Bike	Goplus Folding Electric Bike
Weight	26.5 lbs	30 lbs	32 lbs	34 lbs	30 lbs
Motor	350W	250W	200W	250W	350W
Battery	36V 6Ah	36V 5Ag	37V 5Ah	36V 5.2Ah	36V 6Ah
Charging Time	3 Hours	2.5 Hours	3-4 Hours	5 Hours	3-4 Hours
Max Speed	15 mph	10 mph	9 mph	15.5 mph	19 mph
Load Capacity	265 lbs	264 lbs	264 lbs	250 lbs	265 lbs
Wheel Diameter	12”	12” F 10” R	12” F 10” R	12”	12”
Price	$379-$499.99	$299-$399.99	$399.99	$399-$499.99	$550.00

Best Electric Bikes Under $500

Swagtron Folding Electric SwagCycle – 200W 37V

The Swagtron Folding Electric SwagCycle is one of the best electric bikes under $500 because of the care and detail made in the design and features. The designers took into consideration the price point and improved on foldable electric bikes with few drawbacks.

It’s neutral black color, and compact design will complement business suits or yoga pants.

The only negative to this e-bike is its solid frame (32 lbs), and since the SwagCycle can only fold its handlebars, it may be challenging to fit in a small car. However, it’s all positives from this moment on.

Not only can this bike hit a top speed of 18 mph without peddling (in fact, there are no peddles at all), but it has a 15-mile range.

Typically, a 15-mile range would be a negative, but at 18mph, you can reach your destination as fast as a bicycle without breaking a sweat!

Swagtron Folding Electric SwagCycle is fantastic for anyone around 6’ tall because the seat is adjustable. You won’t have to sit in the fetal position to enjoy a $500 electric bike.

Included with this $499 bike is a pair of disc brakes, which is necessary for a motor with a high top speed. For night bikers, the headlights activate when lighting levels are too dark, while the rear lights will activate upon braking.

A USB port on the side will connect to any device that uses one. With this port, you can charge your phone or other devices on the go.

Although it’s a small benefit, it pushes Swagtron into the top spot for its on-the-go functionality.

ANCHEER Mini Folding Electric Bike – 350W 36V

The ANCHEER E-Bike barely costs $400, but its fashionable design makes it look expensive. This folding bike adopts an aluminum alloy frame that makes its way to the wheels for extra protection from stones and debris on the road.

Inspired by the shape of dolphins, it’s functionality, and sleek look will turn heads.

Super small and compact, its tiny structure can fit in any car trunk or public transport with little effort. At only 26 lbs, it’s the lightest bike on our list.

But, don’t be fooled, this baby can cruise at 12 mph, and the disc brake mechanism will ensure you’ll get out of a sticky situation unscathed. If you live in a place with a wet climate, the mudguards will protect your shoes and pants from splashing water or mud.

ANCHEER’s Mini Folding Electric Bike may be the best bike for your money because it’s IPX5 waterproof, which can resist a sustained, low-pressure water jet spray. You won’t need to worry about this bike short-circuiting.

If you prefer to drive at night, this e-bike has both headlights and taillights connected directly to the battery.

Although the ANCHEER Mini Folding Electric Bike has many positives, it falls short because it can’t fold in half, there are limited adjustment options, and it can only venture 15 miles before shutting down.

The ANCHEER can’t fit into an Uber because it’s too large at 40” long. If you’re over 5’8”, I would pass this model up as it’s curvy designs results in a static seat.

Swagtron Folding Electric E-Bike – 250W 36V

Swagtron’s Swagcycle’s offers excellent products at a low price. For as little as 299$ on sale, the Swagtron Folding Electric E-Bike has a solid, durable aluminum frame.

Similar to the other SwagCycle on this list, it’s identical design, shape, and color makes it accessible and attractive to most consumers.

Lightweight at 29 lbs, the real pull to this e-bike is its foldability. Although it doesn’t fold in half, the frame of the wheel is only 37” long and can fit in most trucks, in the average vehicle, and Ubers.

You won’t need to fold it in public transportation. Although it has the lowest top speed on our list at 10 mph, this is impressive for a small frame. More impressive for its size is it’s 2.5-hour charge and 12-mile range.

The Swagtron has no pedals and no effort, so you can sit comfortably and let the bike take you to your destination without any work from your legs.

With automatic checks with the e-bikes companion app and smart handlebars, you’ll always know how much charge remains in your bike as well as the condition of the motor and battery.

Unfortunately, although this is one of the best electric bikes under $500, the Swagtron has no suspension despite its excellent design.

The fat tires will absorb some of the impact, but the ride may be bumpier than the others on this list. It’s also not an e-bike for tall people, because the seat isn’t adjustable.

Jetson Bolt Electric Bike – 250W 36V

If you want one of the best electric bikes under $500, consider the Jetson Bolt Electric Bike for its comfort and enjoyable ride. Made of robust aluminum, it’s sturdy enough to carry a lot of weight while light enough to carry with its convenient built-in handle. Its sleek black color looks attractive on the sidewalk or road.

Although it is the heaviest e-bike on the list at 34 lbs, it’s still light enough to carry around comfortably. The Jetson has a high top speed at 15.5 mph, and it won’t slow its pace when climbing a hill.

However, it has a long charge time of around 5 hours, but the Jetson has a 17-mile range – the longest on our list.

The electric motor does all the work because the Jetson has no pedals. The frame can survive a couple of falls, but the disc brakes can help avoid a collision if a fall is imminent.

One of the most significant benefits is the tire shock absorption so that you can hit potholes without noticeable impact. Along with all of those positives, the Jetson has headlights and taillights, mudguards, and IPX5 waterproof protection. As a bonus, the seat is adjustable and suitable for people from 5’2” to 5’9”.

Were you thinking about taking your e-bike on an Uber or small car?

Unfortunately, only the handlebars fold, so you won’t be able to place it comfortably on public transport. Still, where it lacks in foldability, it makes up for its mile range.

Goplus Folding Electric Bike – 350W 36V

Although the Goplus is $50 over budget – hear us out, because this bike is one of the best electric bikes for the money.

The Goplus Folding Electric Bike has a teardrop, black design similar to the Jetson, but what sets it apart is its high wattage, which translates to high speeds, a vast range, and superior comfort.

Considerably light at 30 lbs, it’s truly portable because the handlebars and head will fold down into the e-bike. Although it doesn’t fold in half, this makes the bike small enough to fit in Ubers, small cars, and won’t take up a lot of room in public transport.

Its top speed is impressive at 19mph, and with a 12.5-mile range and 3 hour charge time, you can get to your destination faster than any other e-bike on this list.

With no pedals, the Goplus does all the work, and the disc braking is necessary with a fast e-bike like this. Although there are no shocks, the tires provide enough safety from sharp elevation differences in the road.

Rear braking tail lights and front headlights give enough light in the middle of the night, while the IP54 waterproof grade provides adequate protection from water.

There are very few negatives here, especially for the price.

However, it’s disappointing that the bike cannot fold in half. Still, the added benefit of APP control, which gives the driver add-ons like cruise control and drive distance, is a fantastic positive to the Goplus.

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Depending on where you look, you’re likely to see wildly different price tags ranging from $500 to well over $10,000!

How can you tell whether you’re getting a good deal?

There are a variety of features and aspects to consider when making your purchase, but a general rule of thumb is that an electric bike between $1,000 and $3,000 will give you a good balance between performance, quality, and price.

That being said, there is a lot of variety between different types of electric bikes and their intended purposes. There are specialty eBikes for a whole variety of tasks and activities, and the specific demands of each of those activities can impact the final price.

Before I purchased my first electric bike, I was at a loss for what I needed and how that should reflect in the price, but you can reap the rewards of my trial and error!

Below are some of the most important things to consider before you buy your first eBike.

And more importantly, how much those things will impact the final price!

The first thing you’ll need to know is the difference between the three classes of electric bikes.

Class One:

Class one electric bikes have no throttle and only offer pedal-assisted power. The max speed of these bikes is 20mph (32kph). These bikes are typically regulated the same as non powered bikes.

Class Two:

Class two electric bikes have both pedal-assisted power and throttle, with a max speed of 20mph (32kph) just like the class one electric bikes. In most places, these bikes are also treated the same as regular bikes.

Class Three:

Class three electric bikes are only equipped with pedal-assisted power but have a greater max speed of 28mph (45kph).

These bikes have varying legislation governing how they are treated, with some places treating them the same as motorbikes. It is important to find out about local legislation before purchasing a bike of this kind to avoid fines.

So, once you’ve decided on the class of eBike you’re going to purchase, it’s worth taking a look at some other features that can have a big impact on price and quality.

Folding or Non-Folding

Electric bikes come in a huge amount of different shapes and sizes. The main decision you’ll want to make before you pick out a specific body type is whether you want a foldable eBike or a non-foldable model.

Folding eBikes

The main draw for folding eBikes is the ability to keep it stored out of the way. It’s a great path to explore for people living in apartments, or if you’re planning on taking it to work with you.

The compactibility of these models also makes it much more viable to take with you on public transport or even in the back of your car if you want to take it for a leisure ride far from home.

These benefits don’t come without their downsides of course. Foldable bikes tend to have much smaller wheels than their non-foldable counterparts, which can make a bumpy road quite a bit less comfortable than it would be otherwise.

The impact that smaller wheels have on speed is less severe than it would be on a standard bike thanks to the electric motor, but if you plan to use pedal power to get above the speed cap that electric bikes have, you will have a tougher time on a foldable bike than you otherwise might.

Non-Folding eBikes

Much like a regular non-folding bike, there is plenty to recommend a non-folding eBike. If you want to take your eBike on trails, you’ll definitely want to invest in a non-folding model. The increase in stability that the rigid frame and larger wheels afford are indispensable when you’re riding on anything other than paved roads or manicured grass!

Another feature that these models have over the folding variety is their ability to carry cargo. The lack of hinges and locking mechanisms mean that non-foldable eBikes can carry more weight along with the rider without risking something coming loose.

The obvious downside to non-foldable eBikes is their size. It is a lot easier to store an electric bike when you can fold it up and stick it in a corner. If you’re living in a small place, or you need to take it inside with you to keep it safe at work, things might get a little crowded with the addition of a larger model.

What Else to Consider?

There are so many other little bits and pieces that you could worry about when you’re buying your bike that it could stop you from buying it altogether.

Luckily, you really don’t need to focus on most of it. Once you’ve picked out what class and general body type you’re happy with, there are only a couple of other things to think about.

Range:

Knowing how far you’re going to get on a single charge will save you a whole lot of sweat and leg pain. Once the power cuts out of your eBike, it’s still ridable but the added weight of all those electronics can definitely be felt when you’re doing all the work!

Most manufacturers will have a range listed on their websites, and you can expect to get anywhere from 20 miles (32km) up to around 40 miles (64km).

Once you have your bike, it’s always a good idea to give it a full charge and then go see for yourself how far you can get. There are plenty of factors that can impact the range of the product you receive and you don’t want to overestimate how far you’ll get!

Intended Purpose:

Having a good idea of what you want to do with your electric bike will inform a lot of the decisions you make about the final product you purchase.

If you plan to go offroad, you’ll likely want a big wheel eBike with good suspension.

If you’re planning to use it as your main commuting vehicle, it might be wise to go for a model with disk brakes and high-quality lights to avoid accidents.

If you want to carry a lot of goods with you, it is a good idea to look at bikes with racks and bag slots to make certain you don’t have to leave anything behind.

Generally speaking the details sort themselves out once you’re clear on how you intend to use the eBike. Once you’ve sorted that out, the marketing buzzwords and extra fluff that companies try to sell you won’t seem so daunting!

How Will These Factors Affect the Total Cost of Your eBike?

Naturally, these wide varieties of differences will impact the total cost of your eBike. The table below will cover the main varieties of eBike and their adjusted value.

Cost After Purchasing

Like any mode of transport, there will likely be some additional costs after you purchase your new eBike.

The only upfront costs will be any extras you decide to pick up to add to the utility of your new set of wheels.

Optional Extras:

These are the fun aftermarket expenses that can really add to your experience.

The first thing you’ll want to get your hands on is a helmet. Okay, this one isn’t all that fun. Speaking from experience, however, I can attest that coming off a bike moving at 20mph (32kmh) and landing square on your head is a whole lot less fun!

After that, you might want to look at getting some storage if it doesn’t already come with enough. A backpack is a great way to go with this, but there are also plenty of bags made specifically for bikes and eBikes.

A repair kit and tire pump are also some less exciting investments to make, but when you’re on your way home from a long day at work and you ride over a shard of broken glass, a quick patch and pump up will potentially save your evening!

A water bottle holder will also go a long way to increasing your user experience if the bike isn’t already fitted with one. They’re pretty cheap, and the relief you get from that first mouthful of water when you come to a stop is priceless.

Repairs and Maintainance:

These are a little less fun, but essential to keeping your eBike in good condition.

Getting your eBike serviced regularly will keep it running at peak efficiency and will generally keep it going for a whole lot longer. It is recommended to get it serviced approximately every six months when you’re actively riding it, or around every 500 miles (800kms).

This will likely cost somewhere around $150 for a basic service, and it will help flag any major problems that might be creeping up without your notice, like battery wear and tear, or rust.

Of course, there is basic repairs such as changing tires and tubes, though it is worth noting that depending on the way your eBike is configured, this may require some extra tools. Depending on your tire type, this can cost anywhere between $20 and $60.

Finally, there is likely the biggest repair cost, which is replacing the battery. The battery should last for a long time, but if at any time it does fail, it will cost between $500 and $800 to replace. The battery should last for 3 to 5 years, however, and can last even longer with proper care.

Overall, in a ten-year span, including maintenance, battery replacements, and an annual tire and tube replacement you will be looking at an additional $3,000 – $5,000 in repairs and maintenance.

As time goes on, eBikes will only continue to advance and become more mainstream. Their significantly lower cost to run and maintain than traditional motor vehicles are a major draw, and armed with this knowledge you stand to spend as little as you need to for a quality product.

Take a look around the site to find more great tips and recommendations!

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