One of the most prevalent myths about electric cars is that they are too expensive for the average car buyer. While it’s true that the Tesla Model S and Model X can break the bank with pricing that runs into six figures, there are many out there that are well within the reach of a wide range of motorists.
In fact, there are 11 full-electric cars from the 2019 model year that start at less than $40,000. With the average cost of a new vehicle now at just over $37,000, according to Kelley Blue Book, that places them in the sweet spot of the new-vehicle market in terms of pricing. We’re featuring a point-by-point comparison of each model in the above slideshow.
What’s more, most of them become even more affordable when the one-time $7,500 federal tax credit for electric-car buyers is factored into the deal. That drops the effective cost of a $30,885 Nissan Leaf to $23,385. There is a catch, however, and it is twofold. First, a buyer won’t receive the credit until the following year when he or she files an income tax form. Second, you’ll only receive the full credit if you pay $7,500 or more in taxes that particular year. Unused amounts do not carry over to the next tax year. On the other hand, those leasing an electric car will generally have the full amount of the credit applied directly to the deal up front, passed along by the leasing company as the vehicle’s official owner.
The notable exception among the most affordable battery-driven models is the Chevrolet Bolt, which is limited to a $3,750 credit through September 30. It will then drop to $1,850 on October 1 and be eliminated on March 31, 2020. That’s because the tax credits are set by law to phase out in two stages during the calendar year after an automaker sells 200,000 battery-dependent vehicles, including EVs and plug-in hybrids. General Motors reached this threshold in 2018.
What’s more, if you live in any of the 10 states that offer their own incentives to electric car buyers and lessees, either a tax credit or a cash rebate, you can slash the sticker price even further. For example, EV tax credits in Colorado are currently $5,000 for buyers and $2,500 for lessees. Plus, automakers sometimes offer cash rebates, cut-rate financing, and/or discounted lease deals on EVs to help spur sales.
If you’re on a particularly tight budget, consider buying a used electric vehicle from a recent model year, like any of those featured for sale here on MyEV.com. There’s a wide selection of capable models going for $20,000 or less, with some older models (though with limited operating ranges) listed for less than $10,000.
All prices noted in the slideshow are for base models without options, and include the destination charge. Prices and specs are current as of this writing, but are subject to change at any time. Absent from this list is the Kia Soul EV, which is being replaced in 2020 by an all new model, with 2019 models having been sold out. Note that the Fiat 500e and the Smart EQ ForTwo EVs are being discontinued in the U.S. at the end of the 2019 model year.
Range: 238 miles
Body Style: Subcompact four-door hatchback
MPGe city/highway: 128/110
Horsepower: 200
0-60 mph time: 6.5 seconds
Level 2 charging time: 9.5 hours
Battery warranty: 8 years/100,000 miles
Availability: Nationwide
Body Style: Subcompact two-door hatchback
Range: 84 miles
MPGe city/highway: 121/103
Horsepower: 111
0-60 mph time: 9.0 seconds
Level 2 charging time: 4 hours
Battery warranty: 8 years/100,000 miles
Availability: California and Oregon
Body Style: Midsize sedan
Range: 89 miles
MPGe city/highway: 126/103
Horsepower: 161
0-60 mph time: 8.0 seconds
Level 2 charging time: 3 hours
Battery warranty: 8 years/100,000 miles
Availability: California and Oregon
Body Style: Subcompact crossover SUV
Range: 124 miles
MPGe city/highway: 150/122
Horsepower: 118
0-60 mph time: 9.7 seconds
Level 2 charging time: 4 hours, 25 minutes
Battery warranty: Unlimited
Availability: California, Connecticut, Maine, Maryland, Massachusetts, New Jersey, New York, Oregon, Rhode Island, and Vermont
Body Style: Subcompact crossover SUV
Range: 258 miles
MPGe city/highway: 132/108
Horsepower: 201
0-60 mph time: 7.4 seconds
Level 2 charging time: 9 hours, 35 minutes
Battery warranty: Unlimited
Availability: California, Connecticut, Maine, Maryland, Massachusetts, New Jersey, New York, Oregon, Rhode Island, and Vermont
Body Style: Subcompact crossover SUV
Range: 239 miles
MPGe city/highway: 123/102
Horsepower: 201
0-60 mph time: 7.4 seconds
Level 2 charging time: 9.5 hours
Battery warranty: 10 years/100,000 miles
Availability: California, Connecticut, Georgia, Hawaii, Maryland, Massachusetts, Rhode Island, New Jersey, New York, Oregon, Texas, and Washington
Body Style: Compact four-door hatchback
Range: 150 miles
MPGe city/highway: 124/99
Horsepower: 147
0-60 mph time: 7.7 seconds
Level 2 charging time: 8 hours
Battery warranty: 8 years/100,000 miles
Availability: Nationwide
Bodystyle: Compact four-door hatchback
Range: 226 miles
MPGe city/highway: 118/99
Horsepower: 214
0-60 mph time: 7.0 seconds
Level 2 charging time: 11.5 hours
Battery warranty: 8 years/100,000 miles
Availability: Nationwide
Body Style: subcompact two-seat coupe/convertible
Range: 58 miles
MPGe city/highway: 124/94
Horsepower: 80
0-60 mph time: 11.4 seconds
Level 2 charging time: 3 hours
Battery warranty: 8 years/100,000 miles
Availability: Nationwide
Body Style: Compact sedan
Range: 240-310 Miles
MPGe city/highway: 138/124-120/112
Horsepower: 258-450
0-60 mph time: 5.3-3.2 seconds
Level 2 charging time: 30 miles of range per hour
Battery warranty: 8 years/100,000 miles-8 years 120,000 miles
Availability: Nationwide
Body Style: Compact four-door hatchback
Range: 125 Miles
MPGe city/highway: 126/111
Horsepower: 134
0-60 mph time: 9.6 seconds
Level 2 charging time: 6 hours
Battery warranty: 8 years/100,000 miles
Availability: California, Connecticut, Maine, Maryland, Massachusetts, New Jersey, New York, Oregon, Vermont, and Washington D.C.
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