/10 Hyundai Kona: $34000
As you make an EV more compact, more complications will inevitably arise thanks to the basic issue of packaging.
The lack of space will always lead to small issues here and there, but even small issues can have big ramifications, as we all found out with the Kona fires. Those familiar with EVs will be able to forgive these issues but some might prefer the more familiar kind of flammable. The Kona looks affordable, but there are better, cheaper options.
The Cheapest Electric Vehicles Available In 2021
As electric vehicle sales continue to grow worldwide, more and more consumers are getting curious about the options out there. Sure, everyone has heard of Tesla and has a neighbor that has been driving a Prius for the last decade. But, perhaps you yourself are finally open to joining the zero-emissions party. Good on you old sport! Now, Im sure youve already searched how does EV charging work, and the like. Great work. Now, your next search be, what are the cheapest electric vehicles available? Search no longer, my friends. Weve compiled the latest and greatest in affordable EVs for you below.
/10 Hyundai Ioniq : $39950
Looking at the Ioniq and the Niro side by side, the Niro really shows its age. It might be a touch bigger, but it gets outclassed by the cheaper Ioniq in every other respect.
Well, not in every respect, the Ioniq is smaller and has less range as a direct result of its more compact size, but most would be willing to give up the extra 20 miles for a superior product.
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Chevy Bolt Euv: $29190
The slightly larger Bolt EUV offers more space, and impressive tech options. With GMs announced price cut on both 2023 Bolt models, this comes in at $29,190, assuming the $995 destination charge remains the same. Its size means it offers slightly less driving range than the smaller Bolt, at 247 miles. Again, though, GM is out of federal EV tax credits to hand out.
The Equinox Ev Is Only Slightly More Expensive Than Regular Compact Suvs
A $30,000 EV is just a little above the price of a comparable small gas-powered SUV. The Toyota RAV4, the top-selling vehicle in the US that isn’t a pickup, starts at just over $28,000 .
About 20 per cent of all new vehicles sold in the US are compact SUVs.
“It’s a perfect vehicle for a lot of different users, whether it’s a small family, maybe an empty nester,” says Jeff Schuster, president of global forecasting for LMC Automotive, a Detroit-area consulting firm. “You’ve got space to haul things, but it’s easy to drive.”
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What Are Three Disadvantages Of An Electric Car
We’ve talked about the good side of EVs and how they can save you money and help you lower your carbon footprint. There are disadvantages though:
The Current Special Situation In 2022
Since the pandemic started in March 2020, the world is under stress not only from the health perspective but also from all our perspectives in our daily lives. One of the biggest markets hit by this pandemic is the automotive market.
Along with the current shortage of car supplies, there is a massive increase in gas prices, and that’s why many people are looking to shop for a used or new electric car.
Unfortunately, since the demand for Electric cars is increasing, it has become very challenging to find an affordable and good electric car easily. Thus, the earlier you start thinking about this, the easier it is to find an affordable good electric car.
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The Cheapest Electric Cars You Can Buy In 2022
Going zero emission does not have to be a huge expenditure.
Electric cars have become a byword for expensive vehicles. There’s some merit to that. Battery technology isn’t cheap. Electric cars not building on a century of combustion engine development require more research and development. An electric car will likely be significantly more expensive than its combustion counterpart. But that’s not the whole story.
The average price Americans pay for a new car is around $47,000. And you can buy several electric vehicles for much less than that. Not all of them will offer spectacular range or the amenities one would find in a similarly priced ICE vehicle. But all of them allow you to avoid paying crazy high prices at the pump.
Q: Is Insurance For Electric Cars More Expensive
Insurance for electric cars is more expensive than gas-powered cars because of their higher price tags and complex equipment. It may cost more to repair or replace a part in an EV than in a gas-powered car. This is circumstantial but is the reason for insurance on EVs being more than the fuel-powered cars.
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Porschetaycan 4s Cross Turismo
- MSRP
- $93,700 – $187,600
- Edmunds Tested RangeEdmunds’ real-world range test measures the distance an electric vehicle can travel on a full charge.More info
- 250 mi
- Edmunds Rating
- 8.3 out of 10
The Cross Turismo is the wagon-like version of Taycan. It provides more cargo room and passenger space with no perceptible trade-off in the driving experience. With the Cross Turismo, you can get incredible comfort and effortless driving one moment and then, with the twist of a knob, world-beating performance the next.
/10 Chevrolet Bolt Euv: $26000
We think after all they had been through with the Bolt they missed an opportunity to simply drop the name for this model, it is after all different enough to merit another name.
Nobody would have noticed if they simplified the name to Chevrolet EUV, but the Bolt name stays there, readily putting off those buyers who heard of all the Bolt fires. It is a real concern, but the EUV does not have the same issues and has less range and more space, which indicates that they sacrificed a few batteries for more safety, which is a good thing.
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What Car Buyers Should Know About The Coming Tax Credits For Evs
For California consumers thinking about going electric, the Inflation Reduction Act could tilt the math in favor of nabbing that new Model 3 or F-150 Lightning sooner than later.
Drury says that even if GM is able to keep the Equinox around that price, demand likely will be high enough so the company builds mainly higher-priced versions.
And some dealers have been marking up EVs beyond the automakers sticker price due to greater demand. In the first half of the year, U.S. EV sales rose 68% from the same period a year ago, to nearly 313,000.
Some EVs could get a whole lot cheaper in the U.S. with federal tax credits starting next year of up to $7,500 that are part of the Inflation Reduction Act. But meeting federal requirements may be difficult.
The vehicles and batteries have to be assembled in North America, and the new law phases in requirements that battery minerals and parts have to come from the continent. Most minerals such as lithium, a key battery ingredient, are now imported from China and other countries.
The Equinox checks the North American assembly box. It will be made in Mexico. The company wont say where the battery will be made, but GM has announced three joint-venture battery factories in the U.S., including one thats operating already in Warren, Ohio.
Majoros hinted that it may take a couple of years to meet all the governments requirements to get the full credit as GM takes more control of its supply chain for EV parts.
Should I Buy A Brand New Or Used Electric Car In 2022
We’ve discussed that switching to an electric car is a great option considering the increased gasoline prices. However, there is another question about whether you should buy a brand new or used electric vehicle.
Most automotive experts recommend going with a brand new electric car rather than buying a used one. This is because many drivers might think there is a risk of buying electric cars with problems from the used car market. However, that’s not the only reason. Typically, older electric cars do not come with the longest range, which is the most important factor in owning a little car. Therefore, if you decide to go with a used one, it will always be the case that you’re going to buy a vehicle with a limited range. However, if you invested a little more in a brand new car, you will enjoy having a longer range, so you don’t have to worry about all these hiccups as you’re driving your car for your daily comute.
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What Is The Most Reliable Vehicle
This year was a win for Asian automakers, with Japanese or Korean companies making up seven of the top 10 most reliable brands.
Once again, Lexus is a top-scoring brand in Consumer Reports reliability survey. All Lexus models scored above average for reliability.
Our data can help people choose a satisfying car that can go the distance and avoid headaches at the repair shop, which is more important than ever with high prices, low inventory and more vehicle choices,” Fisher said in a Tuesday release.
Who Manufactures The Cheapest Electric Car
In China, electric cars are often manufactured for a lower cost than in developed countries. This is due, in part, to lower labor costs and a less stringent regulatory environment. However, it is important to note that Chinese-made electric cars may not meet the same safety and quality standards as those from developed countries. As such, it is important to do your research before purchasing an electric car from China.
Electric vehicles are no longer the same as small, expensive, and low-range vehicles of the past. There are several EV brands that sell affordable, long-range electric vehicles in a wide range of sizes. Although the range of these electric vehicles is relatively small, they can travel more than 100 miles on a full charge. Its a great vehicle for getting your first job in a Ford F-150. A Lightning Pro is the least expensive way to get into a pickup. There are two 12-inch screens on the dashboard to choose from . The EV6 is $1410 larger than the Niro EV, but it is also $1410 less expensive.
The Nissan Leaf was one of the first mass-market electric vehicles. A 2022 Leaf costs only $28,495 to purchase. It is possible that a convertible Mini will be available in 2023 or 2024 model years.
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How Does The Equinox Ev Compare To Gas Versions Of The Model
The Equinox EV, Majoros says, is longer, wider and a bit shorter than the gas versions of the same vehicle. GM used new interior packaging methods to create comparable passenger and cargo space to the gas Equinox. The relatively small price difference between the two should get many customers to consider EV over gas, he predicts.
GM CEO Mary Barra has said the company will overtake Tesla as the nation’s largest seller of EVs by the middle of this decade. The Equinox EV is a step toward that.
“We think it’s going to be one of the products that’s really going to help that mainstream adoption really take off in the marketplace,” Majoros says.
Chevrolet Bolt Ev 1lt
The 2023 model year severely cuts down the price of the Bolt, making it the most affordable brand new EV on sale in the U.S. today. The results of the 2022 facelift may not please everyone’s eye, but we think bargain hunters will find the new Bolt plenty appealing. The mechanical bits remain largely unchanged, so you get the same urgent acceleration and 259-mile range that helped the original Bolt win our Car of the Year title back in 2017. Among bargain EVs, the 2023 Chevrolet Bolt is one of the smarter choices.
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How Much Is The Federal Tax Credit And How Does It Work
The federal EV tax credit is only available to individuals reporting adjusted gross incomes of $150,000 or less, or $300,000 for joint filers. The amount you qualify for is based on both your income tax and the size of the electric battery in the vehicle, among other factors like whether the battery components come from North America.
Language around the $7,500 credit includes things like “may” and “up to” — so, you may qualify for up to a $7,500 in federal tax credit for your electric vehicle. If you purchased the Ford F-150 Lightning and owed $3,000 in income tax this year, then you’d receive that as a federal tax credit. If you owed $15,000 in federal income tax, you would qualify for the full $7,500 credit when doing your income taxes.
That’s right, you can cut up to $7,500 off your taxes next spring if you buy an EV now.
You cannot simply go out to a dealership and expect it to give you these savings up-front. However, according to the US Department of Energy, starting in 2024 you should be able to get your credit at the dealer.
How Did We Choose These Affordable Evs
After writing about the changed considerations for the EV tax credit and looking at the manufacturers on that list, I decided to target both affordability and eligibility for the credit. I looked at different types of vehicles, including sedans and trucks, and in the honorable mentions at the end of this article, I even highlight a plug-in hybrid minivan that qualifies for the credit — the Chrysler Pacifica PHEV. I wanted to ensure that the vehicles on this best list met the standards set by the Inflation Reduction Act of 2022 and that they had quality features at an affordable price point.
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Hyundaiioniq 5 Limited Awd
- MSRP
- $39,950 – $55,000
- Edmunds Tested RangeEdmunds’ real-world range test measures the distance an electric vehicle can travel on a full charge.More info
- 270 mi
- Edmunds Rating
- 8.3 out of 10
The Hyundai Ioniq 5 springs out of the gate with retro-themed styling and the latest in electric vehicle design. It’s also comfortable, practical and generously equipped. While it can’t quite match the range of the equivalent Tesla Model Y or Ford Mustang Mach-E models, there’s still plenty to love about this all-new all-electric SUV.
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The 2022 Nissan Leaf.Tim Levin/Insider
For 2022, Nissan slashed the Leaf’s price across trims by up to $6,500, bringing the MSRP for a base model down to $27,400. If you apply the $7,500 tax credit for plug-in purchases and local incentives, you could walk away with a Leaf for under 20 grand.
While a few electric cars can be had for around $30,000 today, most cost $40,000 and up.
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Chevy Bolt Ev: $27590
After GM announced it would slash prices on its Bolt EV for the 2023 model year, this electric car overtakes the Nissan Leaf for the title of cheapest EV. Note, however, that GM has no more federal tax credits to hand out. If youre eligible, and count the Leafs still-available $7,500 federal tax credit toward your cost, Nissan is still king for now. Either way, with 200 horsepower driving the front wheels, and a driving range of 259 miles, this budget EV has a lot to offer.
Mini Cooper Se Hardtop
Retail price: $33,470
EPA-estimated range: 100 miles
For its first electric car, Mazda went all out with sleek styling and funky rear doors that swing backward. But it gave the MX-30 confusingly poor driving range, less than half that of some rivals.
Mazda is selling the MX-30 in California to start.
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Us Tax Credits Could Make Evs More Affordable
Some EVs could get a whole lot cheaper in the US, too, with federal tax credits of up to $7,500 starting next year as part of the Inflation Reduction Act. But meeting federal requirements may be difficult.
The vehicles and batteries have to be assembled in North America, and the new law phases in requirements that battery minerals and parts have to come from the continent. Most minerals such as lithium, a key battery ingredient, are now imported from China and other countries.
The Equinox checks the North American assembly box. It will be made in Mexico. The company won’t say where the battery will be made, but GM has announced three joint-venture battery factories in the US, including one that’s operating already in Warren, Ohio.
From there, GM is working on meeting the other criteria for getting the tax credit. “We’re really working through the rules and the regulations right now,” says Steve Majoros, vice president of marketing for Chevrolet. “We think it’s all lining up nicely, but more details to come on that.”
Majoros hinted that it may take a couple of years to meet all the government’s requirements to get the full credit as GM takes more control of its supply chain for EV parts.
