cheap EV

think-evs-are-too-expensive?-here-are-11-for-under-$40k.

Think EVs are too expensive? Here are 11 for under $40K.

Cars, cheap electric car, cheap EV, Electric vehicle, electric vehicle adoption, EV adoption / /

or buy used —

The average new car costs more than $47,000—here are 17 EVs for less than that.

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A piggy bank inside a

Aurich Lawson | Getty Images

New cars have gotten pretty expensive, and it feels like electric cars are especially pricey. The average sale price of a new car has dropped a couple of thousand dollars since it peaked in early 2023, but at more than $47,400 in April, sticker shock is understandable, particularly as interest rates have doubled over the course of the past two years. Based on reader feedback, that impression is particularly pronounced when it comes to new electric vehicles. But EV prices have actually been falling, and inventory is growing. So we put together a list of all the new EVs on sale today for less than the average transaction price of a new car. You can buy 17 different EVs for less than the average price of a new car, and 11 are available for less than $40,000.

Nissan Leaf

The Leaf is the cheapest new EV on sale today.

Enlarge / The Leaf is the cheapest new EV on sale today.

Jonathan Gitlin

First on the list is the Nissan Leaf, which starts at just $28,140 for the version with a 40 kWh battery pack. Nissan was an early EV pioneer, and the current Leaf is the second generation to wear the name. But it hasn’t always been on the cutting edge, and some of the Leaf’s specs that felt a little outdated in 2017 may feel more so in 2024. The Leaf is eligible for a $3,750 IRS clean vehicle tax credit.

Mini SE

There's an old joke where I come from.

Enlarge / There’s an old joke where I come from. “How do you get to Wales in a Mini,” it asks, except instead of “to Wales” the country, the joke is “two whales,” and the answer is “one in the front, one in the back.” Such jokes are unlikely to be repeated about the new battery electric Mini Cooper SE, but if they are, the answer will probably be “slowly, because you have to stop and charge it a lot.”

Jonathan Gitlin

With new tariffs on Chinese-made EVs, no one is entirely sure when the next electric Mini Cooper will go on sale in the US. But right now, you can buy the current Mini Cooper SE for a starting price of $30,900. Although the suspension can feel stiffer than a supercar’s, if you live in a city and don’t need mega-miles of range, the Mini fits the bill quite effectively and is much more of a hoot to drive (and much cheaper) than the John Cooper Works GP mini.

Fiat 500e

Fiat thinks the 500e makes the perfect second car.

Enlarge / Fiat thinks the 500e makes the perfect second car.

Stephen Edelstein

The $32,500 electric Fiat 500e is one of the newest cars on our list; we only drove it for the first time in early April. It has more range than a Mini, and it charges faster, too.

Think EVs are too expensive? Here are 11 for under $40K. Read More »

ev-bargains-to-be-found-as-hertz-sells-off-some-of-its-electric-cars

EV bargains to be found as Hertz sells off some of its electric cars

Cars, cheap EV, Chevrolet Bolt EUV, EV adoption, Hertz, Kia EV6, Subaru Solterra, tesla model 3, used ev prices, used EV tax credit / /

tell me where it hertz —

More than 1,200 EVs are cheap enough to qualify for the used clean vehicle tax credit.

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A Silver Chevrolet Bolt EUV next to a beach house

Enlarge / Hertz currently has more than a thousand Bolt EUVs for sale as they leave its rental car fleet.

Chevrolet

Electric vehicles have many advantages over cars that still use internal combustion engines. They’re far more efficient, they’re quieter, and they usually have much more torque than their gasoline-powered equivalents. But we’re still far from achieving price parity between powertrains. In other words, EVs are expensive.

One place you can find some bargains, though, is the rental company Hertz, which currently has more than 2,100 EVs for sale, more than half of which are affordable enough to qualify for the IRS used clean vehicle tax credit.

Hertz has been adding a lot of EVs to its fleet as part of the company’s decarbonization plan. In 2021, it revealed plans to purchase 100,000 Teslas. However, the controversial car maker had delivered fewer than half of those two years later, and long repair times for customer-inflicted damage have seen the rental agency divest itself of many of those Teslas and diversify its fleet, adding plenty of Polestars, Kias, and Chevrolets.

This January, we learned that Hertz plans to sell off about 20,000 of its EVs, and there are currently 2,115 EVs up for grabs among the 31,134 cars for sale on its used car sales site.

There are 761 Teslas for sale, 63 of which are Models 3 priced at less than $25,000—the price cap for the IRS used clean vehicle tax credit. Some of them have been around the block a few times, with more than 90,000 miles on the odometer (145,000 km), but there are others with less than 50,000 miles (80,500 km) on them.

Better bargains are available if you want a Chevy Bolt—Hertz currently has 1,178 Bolt EUVs (and another eight Bolt EVs) for sale. All of these are cheap enough to qualify for the used clean vehicle tax credit, and plenty of them are low-mileage examples with less than 10,000 miles (16,000 km) on the clock.

There are a handful of other makes and models of EVs also available. You could pick from one of 126 Subaru Solterras, for example, which range from $27,027 to $33,002. And there are 42 Kia EV6s, ranging from $27,120 to $39,901. These are too expensive for the used clean vehicle tax credit, though.

Not everyone reading this will feel entirely comfortable buying an ex-rental car, given the hard lives that such vehicles often lead. But if you’re feeling brave, there are some big savings to be had versus buying new. Anecdotally, the only thing that went wrong with the ex-rental Ford Ka I used to own was a worn-out clutch—not a problem an EV will suffer from.

EV bargains to be found as Hertz sells off some of its electric cars Read More »