8 Best Electric Bikes Under $500 [ 2020 Reviews ]

best electric bike under 500
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Electric bikes are all the rage these days! The popularity of electric bikes really started seeing its peak in the past decade, and the craze is just unstoppable! There are many types of electric bikes that can be used for different purposes – for mountain biking, for off-roading purposes, for long commutes, beach riding, for hunting, and many more!

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There is a common misconception that electric bikes are super costly, and this is far from the truth. Of course, there are high-end electric bikes that are quite an investment, but there is a large range that you as a buyer can go for. In this article, we are focusing only on electric bikes under $500 that give a hell of performance, making it easily affordable for those who are under a tight budget. 

1. shaofu Folding Electric Bike

Shaofu has been making electric bikes for a while now, and if you are looking to buy one without breaking the bank, then this model with a 350-watt motor is the solution you have been looking for. With a practical foldable design made to make commuting easy and the storage even easier, this electric bike features a smart dolphin-shaped frame made out of a strong and lightweight aluminum alloy.

Not only does it perform really well, but it also looks great! This is a smart bike with features that will not make you regret the price you spend. With all the safety features intact, you must consider this electric bike if you love adventure, but also don’t want to spend a bomb. 

Key Features:

  • It has a 350-watt powerful brushless motor.
  • It has a 36-volt lithium-ion battery.
  • It has a maximum speed of 15.5 miles per hour.
  • It has a maximum range of 12 to 13 miles on a single charge.
  • The rear disc brakes are very highly responsive.
  • The bike also supports the android and iOS app that comes along with it.
  • It has a display on the handlebars, showing all the vital information one needs while riding.


  • It has a stylish design and a strong build.
  • The Bluetooth system allows you to plug your Android or iOS phone.
  • It has a great lighting system and a loud horn, making it safe for riding on the streets.
  • It can be folded up when not in use.
  • It is lightweight.
  • It is waterproof.
  • The bike only takes 3 hours to charge up completely.
  • It has a weight capacity of 265 pounds.


  • This is not suitable for big adults, rather a perfect choice for teens.

2. SWAGTRON Swagcycle EB5 Series Aluminum Folding Ebike

The ideal electric bike for teens and adults, this is a foldable electric bike that pushes your limits and gives you the added incentive to step out into nature. When you order this electric bike, you not only save money as this is a very reasonable bike to buy, but you also get to completely pre-assembled.

This means that you don’t have to spend any time trying to fix it up, once it arrives, you’re ready to go! Adjust the seat and the handlebars as per your requirement and take it out for a spin! A perfect blend of performance and aesthetic, this is an electric bike that does not disappoint. Its reasonable pricing also has helped it make its way to the best electric bikes under $500 list. 

Key Features:

  • It has a 250-watt motor.
  • This electric bike has a 36-volt lithium-ion battery.
  • It has a 15.5-mile range on a single charge.
  • It has a maximum speed of 15.5 miles per hour.
  • It has 14-inch large front and rear tires.
  • This bike offers IPX4 water resistance.
  • You can ride this bike in pedal-assist mode or the throttle mode.


  • The set and the handlebar can be adjusted as per the needs of the rider.
  • It comes completely assembled.
  • It is very easy to maintain and take care of.
  • It is a foldable electric bike.
  • The brakes are very responsive
  • It is lightweight yet sturdy.
  • It has a weight capacity of 264 pounds


  • It only offers one level of motor assistance.

3. ANCHEER 250W Adult Electric Mountain Bike

Another pioneering brand in the field of electric bikes, this mountain electric bike has two models, one with a 250-watt motor and the other with a 500-watt motor. Here, we will discuss the 250-watt motor electric bike because it is the one that is under $500.

Well-known in the mountain biking community for its durable and rugged build, this is a bike that can be used for regular use in the city, but you can also take it for mountain biking purposes, making it quite versatile. Completely adjustable to the body of the rider, this is a great investment that you can make without causing too much damage to your wallet! For the price you pay, this bike is pretty awesome. 

Key Features:

  • It has a 250-watt motor.
  • It has a 36-volt battery that charges up quickly.
  • It has a maximum speed of 15 miles per hour.
  • It has a range of 15 miles.
  • It has 21 different speed levels.
  • It has a dual disc braking system.
  • It has 3 modes of riding to choose from as per your convenience - use it like a normal bike, as an assisted bike or as an electric bike.


  • It has a lightweight yet sturdy build.
  • It has a load capacity of 330 pounds.
  • It has 21 Shimano speed shifters.
  • The bike can be adjusted as per your height.
  • It has powerful lights for safe riding at night.
  • It has large 26-inch wheels.
  • It is a great bike for mountain biking purposes.


  • It is not a suitable bike for kids younger than the age of 16.

4. Nakto 26″ 250W Cargo-Electric Bicycle

One of the best and most trusted electric bikes out there, the Nakto 250-watt does not mess around! It gives you the incredible performance you have always wanted from an electric bike. While this bike is mostly marketed as a product for women, there are no gender restrictions really.

With a 6-geared system that offered different speeds so that you can control the riding experience, this electric bike has large 26-inch tires that make riding fun and also easier. The front fork of this bike is made out of high-strength carbon steel with a great shock absorbing system, giving you the smoothest ride you can possibly imagine, even when the terrain becomes a bit too challenging.

Key Features:

  • It has a 250-watt powerful brushless motor.
  • It has a durable 36-volt lithium-ion battery that is also removable.
  • It has a 6-speed Shimano transmission system.
  • It can give you a maximum speed of 25 miles per hour in the ideal conditions.
  • It has a range of 30 miles on a single charge.
  • It has a great electric display showing you all the details you may need while riding.
  • It has a front V brake and a rear expansion brake.


  • It has large tires for comfortable riding.
  • It has a great shock-absorbing system.
  • The battery pack is removable.
  • It is a lightweight electric bike.
  • It comes with an attached baske for you to carry your stuff safely.
  • It has a battery-saving mode.
  • The seat post has a quick release feature.
  • It has a maximum weight capacity of 250 pounds


  • It is not a foldable electric bike.

5. Swagtron Swagcycle EB-7 Elite Folding Electric Bike

The best and most popular selling point of this electric bike is that it can be used as a traditional regular bike or a high-power electric bike. Based on your requirement, the EB-7 can adapt accordingly. Suitable for teens as well as adults, this bike is made to be aesthetically pleasing to your eyes while also giving a great performance.

The powerful 350-watt brushless motor can reach a top speed of 18 miles per hour. With three riding modes, you get the power to choose how you want to ride this bike, making it one of our favorite electric bikes under $500.

Key Features:

  • It has a 350-watt brushless motor.
  • It has a removable 36-volt lithium-ion battery.
  • This electric bike can reach a maximum speed of 18.6 miles per hour.
  • It has an incredible range of 15.5 miles, once it has been charged fully.
  • You can ride this bike as a throttle only bike, pedal-assist bike or a pedal only bike.
  • It has a dual disc-braking system.


  • It is a foldable electric bike.
  • It is a durable bike, which is lightweight.
  • It has a great shock absorbing system with an IPX4 rating.
  • The brakes are very responsive.
  • It only requires 3 to 4 hours to charge up fully.
  • The removable feature of the battery makes it easy to swap out with another battery.
  • It has superior quality headlights, horn and an LCD display.


  • It is not ideal for mountain biking, but more suitable for urban use.

6. Aceshin 26” Electric Mountain Bike

Built with a 100% aluminum alloy frame that is made to last for a long time, even for rough and tough use, this electric bike has 26-inch large tires that give you safe and stable riding experience. The removable battery also allows you to keep a spare with you just in case you want to go for a long ride and don’t have any way of charging the bike.

The 250-watt motor allows you to reach great speeds that can compete with any regular mode of commuting as well. A great electric bike that is suitable for mountain biking purposes as well, we love it because you get a superior riding experience while not spending over $500! What’s not to love?

Key Features:

  • It has a 250-watt high-power brushless motor.
  • It has a 36-volt battery that can charge up in 4-6 hours.
  • It has a top speed of 18.6 miles per hour.
  • With assisted mode, it has a range of 31 miles, and in e-bike mode, it has a range of 15.5 miles.
  • It has a 21-speed transmission system.
  • It has a front and rear disc brain system.
  • The pedals are very grippy and durable.


  • It has a great range.
  • The frame of the electric bike is very strong and sturdy.
  • It has a removable battery that can be charged in just 4-6 hours.
  • It has 3 different riding modes, giving you more control over the bike.
  • It has a weight capacity of 220 pounds
  • It has a bright LED headlight that makes it safe for riding at night.
  • The bike comes with a loud horn.
  • The handlebars are large and grippy, and the seat is comfortable and adjustable.


  • It is a bit too powerful for children to use. It is made for teens and adults.

7. Speedrid 26 Electric Bike for Adults

This is an electric bike made to meet all the needs of a person who loves to explore, and also who wants to find a legitimate alternative to using a mode of transportation that is harmful to the environment. With many speed options and a great braking mechanism, you will always be in control of this bike and can enjoy the process of reaching your destination, or even for recreational purposes. If you enjoy riding bikes but are looking for a budget-friendly electric bike, this is a great option you must consider. 

Key Features:

  • This electric bike features a rear hub motor of 250 watts.
  • It has a 36-volt battery.
  • It can reach a top speed of 17 miles per hour.
  • In throttle mode, this bike has a range of 15 miles and 30 miles on pedal assist mode.
  • It has a carbon-steel fork for great suspension.
  • It has a dual disc braking system.
  • This bike comes equipped with a 3-speed smart motor button


  • It is suitable for tall riders as well.
  • It is a budget-friendly electric bike.
  • It can also be used as a regular bike and also a mountain bike.
  • It has 21 Shimano speed shifters.
  • The handlebars and seat post can be adjusted as per the riding requirements of the person.
  • It has a high weight capacity of 330 pounds.
  • It has a bright LED headlamp and a loud horn.


  • Not suitable for people under the height of 5 feet.
  • It is not a foldable bike.

8. Emdaot 26” Electric Mountain Bike

With a frame made out of a high-grade aluminum alloy and carbon steel, it is difficult to find an electric bike that offers such a great performance under $500. The emdaot electric bike is your perfect companion if you resonate a lot with your adventurous side. Essentially a mountain bike is an electric bike that is versatile, allowing you to balance the mundane and the exciting parts of life. With 21 speed levels, you can easily use this bike to commute to your work, or just to break away from city life and explore the wilderness. 

Key Features:

  • This electric bike has a 250-watt powerful motor.
  • The 36-volt battery is powerful and charges quickly.
  • It offers a top speed of 15.5 miles per hour.
  • It has a range of 34.5 miles on Pedal-Assist mode.
  • It is made out of a lightweight aluminum alloy.
  • It has front and rear disc brakes.
  • It has 3 modes of riding - e-bike mode, pedal-assisted mode, and normal riding mode.


  • This electric bike has a great shock-absorption system.
  • It is lightweight yet very strong.
  • It has a removable lithium battery.
  • The handlebars have a great ergonomic design
  • The seat post can be adjusted as per the convenience of the rider.
  • The battery needs only 4-6 hours to charge completely.
  • It has a weight capacity of 220 pounds.
  • It is a great bike for mountain biking.


  • This is not a foldable electric bike.

Factors to Consider before buying Electric Bikes Under $500 –

electric bikes under 500 dollars

Choosing between so many different types of electric bikes can be quite confusing. Add a budget crunch to the situation, and you can find yourself lost and confused about which bike is best for you. To help you with this confusion, we have made a buyer’s guide for electric bikes under $500. Make sure you go through it thoroughly before you make your mind!

Types of electric bikes – 

There are a variety of electric bikes you can go for, some of them being – 

There are many more types of electric bikes, but all of them have one thing in common – they are completely environment friendly.

  • The motor of the electric bike

The motor of the electric bike is the most important component. It is responsible for the bike speeding and accelerating. If the motor is weak, then the rate of acceleration will be quite slow. We suggest you go for a bike with a motor power of 250 watts and up.

  • The battery of the electric bike

The better the battery life of the bike is, the longer you can ride it for. The power of the battery determines how many miles you can ride it for on a single charge. 

  • The modes of riding offered by the electric bike

Each electric bike has varying levels of speed or riding modes, but the minimum modes any great electric bike must have are the throttle mode (e-bike mode), an assisted riding mode and a normal bike mode. These three modes will help you navigate and control the bike better. Added to these, there can also be gears to improve your riding experience.

  • The weight capacity

This entirely depends on the weight of the rider, but as a rule of thumb, go for a bike with a minimum weight capacity of 220 pounds. Anything more than that is a great addition.

  • The quality of the build of the bike

If you are looking for a bike that you can ride for a long time to come, then inspecting the materials used for making the bike is very important. Make sure that the frame is either made out of a sturdy aluminum alloy or high-grade carbon steel. These two materials are ideal for bikes.

  • Additional features

These features make the electric bike safer and elevate your riding experience. These include bright headlights and taillights, a loud and clearly audible horn, a strong stand, a carrier or basket for you to keep your bags and belongings, and a clear LCD display on the handlebars.

Frequently Asked Questions (FAQ’s)

No, not all electric bikes are expensive. There are some electric bikes that are well suited for people under a budget as well.

In most countries, electric bikes are street-legal. We suggest that you check about the legal aspects of riding an electric bike before you go ahead and make the purchase.

Yes, electric bikes do not emit any carbon emissions, making them 100% eco-friendly. 

Final Verdict

We love the versatility of electric bikes because they can be used for a myriad of purposes. Be it for commuting to work, or just as a fun activity, an electric bike has got you covered. There is often a strong misconception that electric bikes are quite expensive, but all the bikes mentioned in this article are less than $500, and all of them have great reviews from people who have them. Make sure to check these bikes out before you make a final decision.

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