Electric bicycles are rising in popularity and for good reasons. They’re eco-friendly as they’re energy-efficient, and they encourage a healthy lifestyle.
Most of them can be folded to save space, a useful feature for cyclists who commute to work every day. Not to mention that e-biking is a ridiculously cheap mode of transportation!
Sure, e-bikes are less expensive than cars or ATVs, but the best ones can still be too pricey for the average commuter. That’s why we made a list of the best folding e-bikes that you can buy for less than $500 out there!
If you’re willing to spend a bit more for higher quality, you should also check out our best cheap electric bikes, best ebikes under $1,000 and best ebikes under $2,000 guides for more great options.
Best Electric Bikes Under $500
- Huffy Everett+
- SWAGTRON Swagcycle EB-5
- Engwe T14 Folding Electric Bike
- TotGuard Electric Bike
- Totem 26″ 350W E-Bike
- Ancheer Gladiator E-Bike
1. Huffy Everett+
MSRP: $460 (on sale)
- Aluminum frame
- 7-speed rear derailleur
- 27.5-inch tires
- Dual mechanical disc brakes
- Best For: City commutes, bike path rides
The Huffy Everett+ is an entry-level e-bike from the popular USA brand that costs less than $500. This e-bike uses simple components that get the job done reliably.
This is an ideal electric bike for cyclists who want to explore bike paths around their neighborhood without investing in much more expensive e-bikes.
Climbing a slope is no small task, but the 350W brushless motor of this e-bike can do the job just fine. With a maximum speed of 20 mph, the Everett+ provides sufficient power for a pleasant cruise on city streets and bike paths.
- Also consider: Hurley Electric Bikes: Affordable and Stylish E-Bikes
The 27.5″ tires cover the double-layer aluminum alloy wheels. There is enough shock absorption on the e-bike to protect it from bumps and cracks on rougher bike paths, so you would hardly feel a nuisance!
You also get a 7-speed drivetrain, mechanical disc brakes, and an expected range of up to 25 miles.
So, if you consider the price, the quality of the components, and the excellent customer service that the Huffy electric bike brand offers, you will find that the Everett+ is a very good purchase.
2. SWAGTRON Swagcycle EB-5
The Swagtron Swagcycle EB-5 is designed and built for city commutes.
MSRP: Check on Amazon
- Aluminum alloy frame
- 14-inch tires
- Caliper brakes
- Optional cargo rack
- Best For: City commutes
Looking for an e-bike for commuting around the city that’s easy to take with you? The Swagtron Swagcycle EB-5 may be just what you need.
It’s more expensive than the older Swagtron EB1 simply because it has better components and longer battery life. The EB-5’s upgrades make it a popular, affordable choice for both beginner and expert riders.
The 250W rear-mounted motor lets you traverse 30-degree inclines at a top speed of 15mph.
This e-bike uses a 36V 7.8Ah Lithium-ion battery, either external or built-in, depending on your preference. Both have similar performance, but the removable battery is a better choice for commuters who want to get extra mileage without a recharge.
With a maximum range of 15.5 miles on the pedal assist, a fully-charged Swagcycle EB-5 can take you wherever you want to go with minimal effort.
The Swagcycle EB-5 weighs only 37 pounds, which is already lighter than most e-bikes in its price range. It can even fold to a third of its size for maximum portability! Being able to unfold this e-bike for a quick ride anywhere is guaranteed to boost your swag level.
Although this e-bike is best suited for city roads, its thick 14-inch tires can also withstand off-road punishment. These tires use quick-disconnect power lines to make them fully detachable for easier maintenance.
This e-bike is already fully assembled right out of the box, so you can start pedaling right away!
There is only one speed setting on this e-bike, but it’s light enough that you barely need pedal assistance to cruise around the city.
Overall, the Swagtron Swagcycle EB-5 is a worthy budget e-bike with respectable range and handling. Its components may be simpler than other e-bikes, but it still gets the job done!
3. Engwe T14 Folding Electric Bike
MSRP: $630
- 14-inch tires
- Front and rear lights
- Triple shock absorber
- Best For: City commutes, night rides, limited storage
There are no better words to describe the Engwe T14 than “small but mighty.” It’s one of the lightest and smallest e-bikes under $500, but it can match up with other brands in terms of performance and endurance.
- Related post: Engwe E-Bikes Review
The 350W rear-mounted motor of the Engwe T14 can give you sufficient throttle to reach a maximum speed of 20mph. You can even climb a 15 percent slope grade, which is impressive for such a small e-bike!
The Engwe T14’s large-capacity 480 Wh battery can provide a pedal-assist for 20-50 miles on a single charge. Eco-friendly commuters will get a kick out of this e-bike due to its impressive efficiency!
Engwe T14 can easily fit in a car’s trunk with room to spare.
If there’s one thing that sets the Engwe T14 apart from other budget e-bikes, it’s the powerful front and rear lights!
The front and rear lights of this e-bike illuminate a larger area, which is useful when you’re cruising at night. It’s important to be seen by other drivers when you’re riding a tiny vehicle!
The Engwe T14 makes for an ideal city e-bike because it can weave through traffic and tight spaces with ease.
Despite its small frame, you can adjust the seatpost to make yourself more comfortable during the ride.
This bike also has a triple shock absorber system that will make your rides buttery smooth no matter the surface.
All in all, the Engwe T14 is a worthy investment for commuters of all ages. As long as you keep this e-bike charged, you can count on it to carry your weight across the city!
Buy from Engwe-Bikes.com Buy on Amazon
4. TotGuard T-266 Electric Bike
- Aluminum frame
- 26-inch wheels
- Mechanical disc brakes
- 60-mile range
- Best For: City commutes
This TotGuard e-bike is a Class 2 e-bike, so its 350W motor has a maximum speed of 20mph. That’s fast enough for most riders on urban rides. Choose between several assistance options to find your most comfortable cruising pace.
This e-bike’s 374.4Wh battery is located on the downtube, so it’s easy to remove for charging. The T-266 only weighs 45 pounds which makes it possible to carry it or lift it when necessary.
The Ancheer e-bike utilizes front and rear mechanical disc brakes so you can quickly stop whenever you need to. Additionally, this e-bike comes with front and rear lights for those who love riding at night.
You can cycle between three assist modes depending on how you feel and the terrain. The TotGuard T-266 e-bike is 85% pre-assembled when it arrives on your doorstep. For less than $500, this TotGuard e-bike is a solid buy.
5. Totem 26″ 350W E-Bike
MSRP: Check on Amazon
- Aluminum frame
- 26-inch tires
- Front suspension
- Dual disc brakes
- 21 speeds
- Best For: City commutes, night rides, urban rides
The Totem is a cheap and good-looking electric bike that works best for urban rides and commutes. It stands out from most Class 2 e-bikes in its price range because of its sturdy aluminum frame and front suspension system.
The Totem is powered by a 350W motor mounted on the rear wheel. This motor can give you four levels of speed assistance and a top speed of 20 mph. A built-in speed sensor prompts it to engage as soon as you begin pedaling for a much-needed speed boost!
A larger battery capacity means more time to use pedal assist. This e-bike has a removable 374 Wh Lithium-ion battery that can carry it up to 20-40 miles in electric-assisted mode.
The Totem is one of the most convenient budget e-bikes to bring around in urban settings!
Even the smallest bumps on the road can give you a rough commuting experience. To counter that, Totem equipped this e-bike with a front suspension fork, a comfortable seat, and a dual braking system.
- Consider also: Jetson Bolt Pro Folding Electric Bike
Get it if you want a modern-looking electric bike that doesn’t break the bank and has all the bells and whistles you could ask for in this category.
6. Ancheer Gladiator E-Bike
MSRP: Check price on Amazon.com
- Mechanical disc brakes
- 26-inch tires
- 500 Wh battery
- Best For: Short commutes and off-road rides
Ancheer is known for producing low-cost but efficient electric bicycles, and this Gladiator 26-inch hardtail e-bike is one of them.
With tough 26-inch wheels and a robust 750W motor, this e-bike can breeze through city streets with ease.
It’s not common to find an e-bike below $500 that uses a 750W motor. This is where the Ancheer e-bike gains an edge over others. You can reach top speed more efficiently using this motor, even if it’s limited to 22 mph.
The battery is secured inside the main triangle for extra protection. You also get mechanical disc brakes, a 21-speed drivetrain, and a suspension fork. Commuters will be happy to see that front and rear lights are included.
This e-bike comes 90% pre-assembled, and the set-up instructions are easy to follow. The Ancheer Gladiator is one of the newer Class 3 e-bikes that cost less than $500, so it’s no surprise that it’s popular.