Summary
- Electric vehicles are often criticized for being expensive, but there are several affordable options available under $40,000
- Many manufacturers offer underpowered base models with smaller battery packs to keep the starting price under $40,000
- Several EVs are potentially eligible for the full $7,500 federal tax credit, which can lower the starting price significantly
- Some recommended electric cars under $40,000 include the Chevrolet Equinox EV, Hyundai Kona Electric, Tesla Model 3, and Volkswagen ID.4
- The Fiat 500e is a good option for city driving, offering a potential range of 141 miles and faster charging compared to other city cars
Article
Electric cars have long been criticized for their high price tags, but there are affordable options available for those looking to make the switch. While EVs have not yet achieved cost parity with combustion cars, there are several decent electric car options available for under $40,000. Many manufacturers offer underpowered base models with smaller battery packs to keep the starting price below $40,000, but there are still some good options to choose from in this price range. In addition, several EVs are potentially eligible for the full $7,500 federal tax credit, which can further reduce the starting price.
One of the affordable electric cars on the market is the 2024 Chevrolet Equinox EV, which offers an impressive EPA range for its price point. With a starting MSRP of $33,600 and a range of up to 319 miles, the Equinox EV is eligible for the full $7,500 federal tax credit, making it a great option for those looking for a budget-friendly EV. Another option is the Hyundai Kona Electric, which offers stylish design and decent range for its price. While it is not eligible for the federal tax credit, the Kona EV provides 201 horsepower and 261 miles of range for $36,875.
Tesla also offers affordable electric options, with the Tesla Model 3 Long Range Rear-Wheel Drive trim priced at $42,490 and eligible for the full $7,500 federal tax credit. With a range of up to 363 miles, the Model 3 offers impressive performance and efficiency for its price. Another option is the 2024 Volkswagen ID.4, which provides ample cargo space and a range of up to 291 miles. With full federal tax credit eligibility, the ID.4 Pro RWD model offers 282 horsepower and is also an IIHS Top Safety Pick.
For those looking for a small EV city car, the Fiat 500e is a great option with a starting MSRP of $32,500 and a range of 141 miles. With faster charging and a compact size, the Fiat 500e is perfect for urban environments and tight parking spots. Despite the challenges of finding an affordable electric car, there are several options available for those looking to make the switch to a more sustainable mode of transportation without breaking the bank. With technology advancements and government incentives, electric cars are becoming more accessible to a wider range of consumers.
Read the full article here
