Best Electric Bike Under $500 (Reviews and Comparison)

Electric bikes are growing in popularity. With that being said, you may be eager to add one to your collection. If so, you’ll want to find the best inexpensive electric bike. This guide will help you find just that.

Ordinary bicycles are great. Electric bikes are even better. By upgrading to an electric bike, you’ll be able to remove pressure from your legs. After all, the battery will take care of the pedaling for you. This will allow you to reach your destination without breaking a sweat or wearing yourself out in advance. Whether you’re looking for the best electric bike for kids or you want a bike for an adult, you need to know what you’re looking at. You need to know what factors are going to be important and which ones can be ignored. Within this guide, you find a breakdown of some of the best electric bikes on the market. You’ll also find tips for helping you pinpoint the best electric bike under 500 bucks.

Best Cheap Electric Bike: Comparison table

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1. SwagCycle EB-5 Pro EBike

The SwagCycle EB-5 is easily one of the best bikes out there. It is compact, lightweight, and it can be folded. In terms of performance, it cannot compete with the best electric bikes under $1000. However, it is still great in its own right. This bike is going to arrive at your home pre-assembled. This removed the guesswork from the equation and allows you to begin enjoying it immediately. You won’t have to worry about wasting time or getting frustrated with the assembly process.

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Height Adjustable

Some bikes are good for adults but others are best for children. The SwagCycle EB-5 is good for everyone. The height is adjustable. You can adjust the seat and handlebar in a matter of seconds. This ensures that you’re going to get a comfortable right no matter what. This also means that you’ll be able to share the bike with another individual. Also, you should know that this bike can support up to 264 pounds.


Ultimately, a lot of bikes are too big. This makes it difficult to transport them from location to location. Well, this is not going to be an issue with the SwagCycle EB-5 Pro. This bike can be folded three times. This makes it one of the best folding electric bikes under 500. Even if you have a small automobile, you can guarantee that this bike will fit in the trunk once it has been folded down.


  • Folds to a more compact size
  • Suitable for adults and teens
  • Can be charged in just 5 hours
  • Supports up to 264 pounds


  • Doesn’t feel sturdy
  • Becomes unusable when the battery is dead

2. ANCHEER Folding Electric Bicycle

The ANCHEER Folding E-Bike is a good investment. This bike looks awkward but it will serve its purpose exceptionally well. It’ll get you to your destination without any problems. In fact, many will argue that this is the best folding electric bike under 500. Just remember that you might want to check and invest in the best electric bike battery. After all, this one only has a 12-mile range. Still, that should be sufficient for most people.

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Easy To Take With You

One thing to note is that this bike is going to be easy to take with you. It can be folded to save space. On top of that, it weighs just 26.5 pounds. You can carry this bike around with a single hand. Even if you’re a small or older individual, you won’t have any problems tossing the bike into the back of your car.

App Support

This bike features Bluetooth technology. It will sync with your smartphone app. This is a good thing and it gives you more confront over the bike. For instance, you can use the app to adjust the speed or lock the motor. This is a good way to prevent people from stealing the bike while you’re away. The app will provide you with mileage and time recordings too.

Two Styles

This isn’t the most attractive bike in the world. Nevertheless, it isn’t that bad and it is available in two colors. You can choose from black or white. When you ride this bike, you’re likely going to receive comments and questions about it. Its unique design is difficult to ignore.


  • Settings can be controlled from the app
  • Available in two colors
  • Easy to transport
  • Can reach speeds of 12 MPH


  • Design is awkward
  • Brakes need some improvements

3. Shaofu Electric Bicycle – Best folding electric bike

Buying an electric bike from an unknown company can be risky. Nevertheless, you should be satisfied with the Shaofu Folding Bike. It is moderately inexpensive and it offers many great features. For instance, the bike is waterproof. You can ride it in the rain without worrying about the battery being exposed to the elements. The frame is collapsible too. This will make it easy for you to get from one location to the next.

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Buying a bike without a warranty is too risky. This is why you’ll want to check out the shaofu Folding Electric Bike. E-bikes have far more components. Therefore, there are more things that can go wrong with these bikes. Well, you’ll be happy to know that this one is protected by a 1-year warranty. The warranty covers the motor, charger, and battery.


Most people are going to be traveling less than 15 miles. If you fit into this category, the shaofu bike will be suitable for you. It features a 15-mile range. That is better than many of the alternatives and it should be sufficient for you. On top of that, the 350W motor only has to be charged for three hours.

App Features

Like many other electric bikes, this one is compatible with a smartphone app. This is a good thing since it gives you extra control. You can use the app to adjust the speed and lock the motor. This will help lower the risk of theft. The app offers other features like mileages and time recording too. This buy cannot be compared to the electric bike under $2000 but it is a good bargain.


  • 15-mile range is decent
  • 1-year warranty on the battery, charger, and motor
  • Easy to take with you
  • Smartphone app helps


  • Tough to change the tubes
  • Some might experience braking issues

4. Swagtron SwagCycle Classic E-Bike

The Swagtron Classic E-Bike is a good investment for people who are not going to be traveling far. This bike only has a 10-mile range. This is far less than what you’re going to get with the alternatives. Therefore, this bike is not going to be suitable for everyone. Nevertheless, it offers a lot and nearly makes up for this flaw. For instance, the frame is collapsible and the Bluetooth technology makes a big difference. Plus, the bike is available in two colors. This is good for picky buyers.

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One thing that is good about this bike is the speed. The bike offers maximum speeds of 10 MPH. The 250W motor is powerful enough to get you to your destination in a hurry. You can adjust the speed by using the smartphone app. Another good thing about the bike is that the battery can be charged in just 2.5 hours.

Display On Handlebar

This bike is very advanced. It is equipped with a horn and headlights. Well, you’ll be able to control these things using the handlebar display. The display allows you to check the battery in seconds. You can also use the handlebars to accelerate and brake. Suffice to say, operating this bike is straightforward and very easy.

Micro USB Port

There is a good chance that you’re going to forget to charge your phone. If you do, you’re going to be in big trouble. Well, this won’t be an issue when you own the Swagtron E-Bike. This bike features a micro USB charging port. This will allow you to charge your devices during your commute.


  • Doesn’t release any emissions
  • Can charge your devices
  • Maximum speeds of 10 MPH
  • Easy to store


  • 10-mile range might not be enough for everyone
  • Rear tire wears down quickly

5. NAKTO Folding Electric Bike

If you’re willing to spend a tad more, you’ll want to check out the NAKTO Folding Electric Bike. It offers a handful of extra benefits that help justify the slightly higher price tag. On top of that, it is sleeker than many of the alternatives. The bike features a rack on the back. You can take advantage of that rack to haul your items from one location to the next. You’ll also love the range and speeds offered by the NAKTO.

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There is no doubt that assembling a bike can be frustrating. Well, you can avoid that problem when you invest in the NAKTO Electric Bike. It will arrive pre-assembled. This means that you will be able to skip the hassle and headaches. Once it arrives, you’ll be able to start using it immediately.

Speed And Range

Before buying one of these bikes, you need to check out the speed and range. Well, this bike offers speeds up to 20 MPH. On a full charge, you’ll receive a range of up to 22 miles. The mileage can depend on many factors. At the least, you’ll get 18 miles per charge. This is pretty good compared to the alternatives and it certainly helps justify the price tag.


  • Very lightweight and it folds
  • Offers better speeds and range
  • Rack on the back is handy
  • Already assembled for your


  • Only one gear without the battery
  • No way to lock the bike when folded

Choosing The Best Electric Bike Under $500: Buying Guide

Buying an electric bike is going to be much different than a regular bike. To ensure that you get the most out of your money, you’ll want to rely on the tips provided below.

Charging Time

First, you should check out the charging time on the battery. Make sure that it can be charged within a few hours. Otherwise, you’re going to become frustrated with it.


You’ll also need to check the range. You know how far you need to travel to get to work or school. Choose a bike that offers enough range to get you to your destination.


Electric bikes are all different in terms of speed. Some are slow but others are fast. How quick do you want to travel? You’ll need to decide and choose accordingly. If you want to reach your destination quickly, you should choose a bike with a higher maximum speed.


Finally, it is wise to choose a bike that can be folded. After all, you’ll likely transport it in your vehicle at some point. This is going to be hard if the bike doesn’t fold. A folding bike can be compacted to make it easier to store and transport. It is in your best interest to buy a folding bike. You’ll also want to choose one that is lightweight.


Can Electric Bikes Be Used In The Rain?

There is a good chance that you’re going to encounter rain at some point. This is something you have to be careful about. However, this shouldn’t cause any problems for your bike. Most electric bikes are designed to be waterproof. This means that the water will not be able to reach the battery. As long as the bike is waterproof, it can be used in the snow, sleet, and rain.

Can An Electric Bike Be Used Like A Normal Bike?

While it depends on the model in question, you should know that most electric bikes can be used like conventional bikes. However, some will be tougher to use this way than others. If you’re going to be using the bike for exercise and transportation, you should check the specifications carefully. Make sure that it can indeed be pedaled like a normal bike. Again, most can so you shouldn’t have any problems.

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