Top 10 Best Electric Bikes Under $500 In 2023

Best Electric Bikes Under $500

Electric bikes have revolutionized how we commute, providing a cost-effective and environmentally friendly alternative to traditional bikes and cars. But for many, the cost of an electric bike is still a concern. Finding the best electric bike under $500 can seem daunting if you’re on a tight budget. However, you’ll be pleased to know that various options are available, from simple e-bikes to more advanced models. In this article, we’ve rounded up the best electric bikes you can buy for less than $500, so you can enjoy the benefits of electric biking without breaking the bank.

Best Electric Bikes Under $500

Ancheer Folding Electric Bicycle 

The Ancheer Folding Electric Bicycle boasts one of the most innovative and compact designs in the world of electric bikes. With its lightweight and sturdy aluminum construction, it can easily support up to 265 pounds of weight. One of the standout features of this e-bike is its foldability, making it incredibly convenient and easily storable.

The Ancheer Folding Electric Bicycle delivers a top speed of 15 mph and a range of 15 miles on a full charge, making it ideal for city riding. Despite its small size, its impressive features make it an excellent choice for those looking for a stylish, compact, and convenient electric bike.

Swagcycle EB-5

The Swagcycle EB-5 is one of the best electric bikes under $500. It boasts a sleek design and a robust construction built to last. This lightweight electric bike can be easily folded in half, providing a convenient and compact solution for storage. With a top speed of 15 mph and a battery range of up to 15 miles, you can enjoy a smooth and effortless ride without relying on pedaling.

The EB-5 offers flexibility with its adjustable handlebar and saddle height, making it a suitable option for a wide range of adult riders. Whether you are looking for an efficient mode of transportation or want to have fun exploring your surroundings, the Swagcycle EB-5 provides a reliable and enjoyable experience. With its combination of style, functionality, and versatility, it is an electric bike that can be used every day of the week.

Jetson Bolt Folding E-Bike

The Jetson Bolt Folding E-Bike is a compact and stylish electric bike that is lightweight and easy to handle, even for children. With its folding design, it can be easily stored in small spaces, but with its impressive features and performance, you will likely want to use it all the time. Boasting a top speed of 18 mph and a maximum range of 15 miles, the Bolt is a convenient and efficient mode of transportation.

Another unique aspect of the Jetson Bolt is that it doesn’t have pedals, making it even lighter than most electric bikes. This eliminates the need for various components, such as chains, cranks, and derailleurs, resulting in a lighter and more maneuverable bike. If you’re searching for an electric bike for your child, the Jetson Bolt Folding E-Bike is a top choice that delivers a fun and safe riding experience.

How Do Electric Bikes Work?

Electric bikes, also known as e-bikes, are powered by an electric motor and a rechargeable battery. The motor assists the rider while pedaling, making it easier to cycle for longer distances and tackle hills. The rider can choose the level of assistance the motor provides, allowing them to control how much effort they want to put into their ride.

The motor and battery work together when the rider pedals to boost power. The motor is connected to the bike’s chain, which turns the rear wheel and propels the bike forward. The battery provides energy to the motor and is typically located on the bike’s frame.

The rider can also control the level of assistance the motor provides using a control panel on the handlebars. The control panel allows the rider to select from different modes, such as Eco, Tour, Sport, and Turbo, each providing a different level of assistance.

Electric bikes have many of the same components as traditional bikes, including gears, brakes, and suspension. This makes them easy to ride and maintain, even for those unfamiliar with electric technology.

Types of Electric Bikes

  • Commuter Electric Bikes: Commuter electric bikes are designed for urban riding and commuting. They usually have a lightweight frame, a powerful motor, and a range of features such as lights, mudguards, and a rear rack to make daily riding more convenient and practical. They are designed for people who want a convenient, efficient, and eco-friendly mode of transportation.
  • Mountain Electric Bikes: Mountain electric bikes are designed for off-road riding and provide a great way to explore trails and rough terrain. They have a more rugged design and are built to handle challenging terrain, including steep hills, rocky paths, and mud. They typically have stronger suspension, larger tires, and a more powerful motor than other electric bike types.
  • Road Electric Bikes: Road electric bikes are designed for speed and efficiency and are perfect for riders who want to cover long distances quickly. They have a sleek, aerodynamic design and a powerful motor that allows riders to achieve higher speeds. They are ideal for road riders who want to cover large distances without tiring themselves out.
  • Folding Electric Bikes: Folding electric bikes are designed for convenience and portability. They can be easily folded and stored, making them ideal for those with limited storage space or need to transport their bike on public transportation. They are also an excellent option for travelers who want to explore a new city without having to rent a bike.
  • Cargo Electric Bikes: Cargo electric bikes are designed to carry loads and are ideal for people who need to transport goods, groceries, or children. They have a large cargo area and are equipped with features such as a rear rack, panniers, and a kickstand to make loading and unloading easier.

Factors To Consider Before Buying An Electric Bike

Purpose of Use

The first thing to consider is the purpose of use. Do you want an electric bike for commuting, leisure, or off-road adventures? Different types of electric bikes are designed to cater to different needs and terrains. For instance, an electric commuter bike will have different features than an off-road electric bike.

Battery Life

Battery life is another critical factor to consider. Electric bikes come with different battery capacities, some offering a range of 20-30 miles, while others can go up to 60 miles on a single charge. Depending on your intended use, choose a bike with a battery capacity that will meet your needs.

Motor Power

The motor power of an electric bike plays a crucial role in determining its performance. A more powerful motor will make it easier for you to tackle hills and uneven terrain. However, higher motor power means a higher cost, so consider your needs and budget when choosing a motor power.


The price of an electric bike is a significant factor to consider, especially if you’re on a budget. Prices for electric bikes can range from under $500 to over $5,000. Make sure you clearly know your budget and what you’re looking for in an electric bike before making a purchase.


Warranty is an essential factor when buying any product, and electric bikes are no exception. Most electric bike manufacturers offer warranties ranging from one to three years. Make sure you choose a bike with a warranty that covers all the critical components, including the motor, battery, and controller.

Pedal Assist vs. Throttle

Electric bikes come in two types: pedal-assist and throttle-controlled. Pedal-assist bikes provide additional power when pedaling, making it easier to ride, especially up hills. On the other hand, throttle-controlled bikes can be ridden without pedaling and are ideal for people who want a more leisurely ride.


The weight of an electric bike is also an important factor to consider. Heavier bikes are more challenging to ride and transport, but they are generally more durable. On the other hand, lighter bikes are easier to ride and transport but may not be as durable as heavier bikes.


Accessories such as lights, a carrier, and mudguards are essential for some people and can make the riding experience much more comfortable and enjoyable. Consider the type of accessories you need and choose an electric bike that comes with or is compatible with the accessories you need.

Benefits Of Using An Electric Bike 

Electric bikes, also known as e-bikes, offer several benefits over traditional bikes and other forms of transportation. Some of the most significant benefits include the following:

  • Convenience: Electric bikes are easy to use and can be ridden by people of all ages and fitness levels. They are particularly convenient for those who want to cover longer distances or tackle hills without getting too tired. You can arrive at your destination fresh and ready to start your day with an electric bike.
  • Cost-effective: Electric bikes are more cost-effective than other forms of transportation, such as cars and public transport. They require less maintenance than cars, and the cost of electricity to recharge the battery is much lower than the cost of gas for a car.
  • Environmentally friendly: Electric bikes are environmentally friendly, producing zero emissions. They are a great alternative to cars, one of the largest contributors to air pollution.
  • Reduced traffic congestion: Electric bikes can help to reduce traffic congestion and improve air quality, as they take up less space on the road than cars. They can also be used to navigate traffic more efficiently, as they are much more agile than cars.
  • Increased accessibility: Electric bikes can provide increased accessibility to those who cannot cycle for long distances or tackle hills due to physical limitations. The electric motor offers assistance, making it easier to cover longer distances and tackle hills.
  • Fun and enjoyable: Electric bikes are a fun and enjoyable form of transportation. They provide an escape from the stress of daily life and allow you to enjoy the great outdoors.

Frequently Asked Questions

Can electric bikes be ridden on hills?

Yes, electric bikes can be ridden on hills. The electric motor assists, making it easier to tackle hills and cover longer distances.

Can electric bikes be used in rainy or wet conditions? 

Yes, electric bikes can be used in rain or wet conditions, but it is important to ensure that the bike and battery are protected from water damage. Some e-bikes come with waterproof components and can be used in all weather conditions, while others may need to be protected in wet conditions.

Are electric bikes environmentally friendly?

Yes, electric bikes are environmentally friendly as they produce zero emissions. They are a great alternative to cars, one of the largest contributors to air pollution.

How long does it take to charge an electric bike? 

The charging time of an electric bike depends on the battery capacity and the charging source. On average, a typical e-bike battery can be fully charged in 4-8 hours using a standard wall outlet.

How Fast Is A 700cc Electric Bike? 

The speed of a 700cc electric bike varies depending on several factors, including the motor power, battery capacity, and weight. Generally, 700cc electric bikes can reach up to 28 miles per hour, although some high-performance models can go faster.




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