The upfront cost of an EV scares some consumers away despite the long-term savings. But buying the newest electric vehicle doesn’t have to break the bank.
In fact, the tax credits that come with buying an electric vehicle (EV) may keep more in your wallet than you expect. And an EV can save you hundreds of dollars a year on top of that since you won’t be spending so much on gas.
The American Automobile Association (AAA) compiled a list of the cheapest EVs consumers can get their hands on. That way you can make the most of those long-term benefits.
Following are the most affordable vehicles — starting around $40,000 and moving into more affordable options — and a few things you need to know.
Volkswagen ID.4
Starting price for this model: $40,290
The base model for the 2024 Volkswagen ID.4 runs on a single motor with 201 horsepower. It also has rear-wheel drive and up to 291 miles of EPA-estimated range.
According to Car and Driver, an industry magazine, this Volkswagen model doesn’t charge as quickly as some competitors, but it comes with an affordable price, good looks and plenty of space.
Kia Niro
Starting price for this model: $39,600
The 2024 Niro EV has 20 different forms of standard driver assistance aids for collision prevention. This model has an EPA-estimated all-electric driving range of 253 miles.
Drivers and passengers can also make use of the onboard power generator that can charge electric bikes, laptops and even power camping gear.
Tesla Model 3
Starting price for this model: $39,000
The Tesla Model 3 2024 model has a quieter cabin than its predecessor. Reviewers have called it “snug,” but also say its updated styling has reportedly given the interior a more upscale feel. The standard model has 272 miles of EPA-estimated driving.
Hyundai Kona EV
Starting price for this model: $35,000
The standard SE trim 2024 Kona EV model has an EPA-estimated 200-mile range when fully charged.
It includes charging ports in both the front and second row and a hotspot. The standard model also includes driver-assist features like lane-keeping assist, driver attention warnings and smart cruise control.
Chevy Equinox Compact SUV
Starting price for this model: $34,995
Chevy’s first all-electric Equinox EV can get a 70-mile range with 10 minutes of charging. With a full charge, four-wheel drive models have an EPA-estimated range of up to 319 miles.
According to Car and Driver, the standard model’s interior has “fairly basic” features, lacking things like power-adjustable front seats. But the upgraded models have more, including features like heated seating, sunroofs and more.
Mini Cooper SE
Starting price for this model: $31,895
The 2024 Mini Cooper SE has acceleration times that rival its gas-powered Mini models. It also provides many of the standard driver-assist safety features.
It has an estimated driving range of 110 miles when fully charged, which is on the shorter side. The battery can be completely charged in about four hours at home, although fast charging can get you to about 80% in 35 minutes.
Nissan Leaf
Starting price for this model: $29,255
The 2024 Nissan Leaf comes with a standard 40 kWh battery, or buyers can upgrade to the Plus model for a 60 kWh battery. The standard model has an EPA-estimated range of up to 149 miles.
The Nissan Leaf runs on 147 horsepower and also includes a 6.6 kW onboard charger.
Chevrolet Bolt EV/EUV
Starting price for this model: $27,495
The 2023 Chevrolet Bolt EUV has an EPA-estimated range of 247 miles. It has driver assistance features like emergency braking and lane centering, and it also offers “super cruise” for hands-free driving.
This SUV seats five passengers and has 39.1 inches of legroom in the second row.
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