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. 

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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. 

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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. 

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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.

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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.

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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?

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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. 

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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. 

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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 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 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. 

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.

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.

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.

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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