Best Electric Bike Under $500

Electric bikes are so useful. They require a lot less peddle work than your average bike, meaning you will not arrive at your destination, hot, sweaty, and fed up.

It is surprising how much distance they can cover when charged fully and many can reach speeds of up to 15 miles per hour too! If you are interested in purchasing an electric bike, you may not know where to start.

There are so many different types available to choose from, that it can quickly become overwhelming. 

If you are looking to purchase an electric bike, you may be a little concerned about the cost. But you can rest assured knowing that an electric bike does not have to be expensive.

In this article, we will be reviewing 10 of the best electric bikes that you can purchase for under $500.

We have included a handy pros and cons list for each bike so you can easily compare them.

We hope this article will help find the perfect electric bike for you! 

OUR TOP PICK

ANCHEER Folding Electric Commuter Bike, 16'' City Ebike with 8Ah Removable Lithium-Ion Battery Electric Bicycles

This model comes in two colors, white and black. It has a steel frame and the wheel size is 16 inches.

The Ancheer has a disc-style brake. The steel frame makes this bike lightweight, weighing a total of 37 pounds. The wheels are made from double-layered aluminum. 

The bike can be collapsed quickly and does not take up a lot of space when folded. It can be easily carried and stored when not in use.

The bike is powered by a lithium-ion battery, which is easy to remove and recharge. It can be charged on or off the bike and takes around 4-6 hours to charge fully.

The Ancheer can travel anywhere between 15 to 30 miles. If you run out of power, you can pedal the bike manually. The maximum speed the Ancheer can reach is 15.5mph.

The bike has two brakes and comes with an LED 3-Speed Smart Meter button. This will help you to control the bike’s overall speed. The seat is comfortable and the bike has a 250W stable hub motor. 

It comes with a one year warranty. The bike arrives 85% assembled so you will need to assemble the last 15% yourself. The bike is on the higher end of the under $500 budget. 

Pros:

  • Can travel between 15 - 30 miles when fully charged
  • Lightweight, and made from good quality materials
  • One year warranty included

Cons:

  • Only comes 85% assembled

EDITORS CHOICE

SWAGTRON Swagcycle EB5 Lightweight & Aluminum Folding Ebike with Pedals, Black, 58cm/Medium

This unisex electric bike comes ready assembled. The Swagcycle height is adjustable, so it can be used for adults and teens. It comes in two colors, black, and white. 

The wheel size is 14 inches and the overall dimensions are 34.9x24.5x14.5 inches. Weighing 37 pounds, it is lightweight and easy to transport.

This bike runs on a lithium-ion battery. It is simple to charge and the battery is inbuilt. The charge time is around 4-5 hours. It is worth noting that some users have run into some issues when charging the battery. 

The Swagtron can run for up to 15.5 miles before it runs out of power. However, you can pedal manually when the charge runs out.

The power lines are removable for easy maintenance. The auto guard safety feature automatically cuts off the power when you are breaking to stop any potential accidents. 

Riding uphill is 83% less difficult compared to a non-electric bike. The bike can reach speeds of up to 15mph and has a 250W motor.

In terms of price, this is one of the more expensive bikes we have featured, being just below the price limit. 

Pros:

  • Autoguard safety 
  • Lightweight and easy to transport
  • Unisex, and suitable for teenagers

Cons:

  • Potential issues when charging the battery

BEST VALUE

ANCHEER Folding Electric Bike 350W Motor Scooter 12 Inch City Commuter Ebike with 15 Mile Range, Dual Disc Brake

This model is more powerful compared to some of the other bikes included in this article.

It is 350W and can reach speeds of up to 15mph. The wheel size is 12 inches and they are durable, shockproof, and wear-resistant. They also have an anti-slip texture.

This bike has an antilock braking system for safety and it features two disc brakes. When fully charged, it can travel a distance of around 15 miles. The total charge time is three hours and the model runs on a lithium battery.

The Ancheer has cruise control when the throttle is twisted to help you gain speed. The added power makes riding up hills easier. The Ancheer is waterproof and can withstand cleaning via a jet washer. 

It weighs a total of 45.8 pounds and is a little heavier, but is still relatively lightweight and easy to transport. It folds down easily and has a dolphin style shape.

It is made out of aluminum alloy, which is doubled on the wheels. 

It is a mid-price range bike that is great for those on a budget. 

Pros:

  • Great value for the money
  • More powerful than the average electric bike
  • Durable and is waterproof

Cons:

  • Weighs slightly more than other models

RUNNER UP

Swagtron SWAGCYCLE EB5 Plus Folding Electric Bike with Removable Battery | City eBike with Pedals & Swappable 36V Battery | 14†Wheels, 250W Motor, Built-in Carry Handle, Black

This Swagtron Electric Bike is similar to the EB5 but has several additional features. However, it is similar in price.

It comes in two colors, white and black. It has 14-inch wheels and comes with a bike stand that flips down when needed.

Its overall dimensions are 49.2x21.7x34.9 inches so it is slightly larger than the EB5. It weighs 38.2 pounds. The EB5 Plus has a built-in handle which makes carrying the bike easy. 

This is a unisex adult bike that uses a lithium rechargeable ion battery. The battery takes around 4-5 hours to charge. It can be removed to be charged and is swappable if the runs out mid-journey which is a useful feature.

It is 250W and can travel a distance of up to 15 miles when fully charged. You can also pedal manually if needed. The EB5 Plus can reach a speed of 15mph. 

It has an autoguard to help with the braking, and the brake style is a caliper. The autoguard stops the electricity when you brake for safe riding. 

Pros:

  • Removable and swappable battery to extend journey length
  • Built-in handle
  • Built-in bike stand

Cons:

  • Slightly larger than the EB5 model

RUNNER UP

ANCHEER Folding Electric Bicycle E-Bike Scooter 350W Powerful Motor Waterproof Ebike with 15 Mile Range, APP Speed Setting

This Ancheer bike is similar to the previous dolphin-shaped bike we have featured. However, it includes some additional features. Given this, it is more expensive but is still a mid-range priced bike.

This Ancheer model connects to an app that gives you more control over your bike. Here are some of the features available with the app:

  • Speed settings
  • Cruise control setting
  • Mileage recording
  • Time recording 
  • E-Bike self-test 
  • Motor locking to help prevent your bike from being stolen
  • Create a riding route

The slightly increased cost allows you access to many different features on the app that will take your bike riding to the next level. 

The Ancheer is 350W and can reach speeds of 15mph. It can travel for around 15 miles on a fully charged battery. The wheel size is 12 inches and it has a disc-style braking system. 

Weighing only 26.5 pounds, it is easy to transport and carry. It is waterproof and the overall charging time is three hours.

Pros:

  • Access to the app that gives you more control over your bike
  • Waterproof
  • Easy to transport and carry

Cons:

  • If you are not interested in the app, it is not worth the extra cost

RUNNER UP

Macwheel Electric Bike, 16' Fashionable Color Design ebike with 250W Powerful Motor, 36V 7.5Ah Large Capacity Battery City Ebike

The Macwheel is a foldable and lightweight electric bike. Its dimensions are 53x8.3x25.6 inches and it weighs 40 pounds. It is easy to transport and carry.

It arrives 90% assembled. The last 10% is the seat and pedals that are easy to assemble. The user manual is easy to follow. 

In terms of speed, this bike reaches 15mph. When it is fully charged it can travel up to 18.6 miles which is further than some of the other bikes we have featured. 

It uses a rechargeable lithium battery. The battery can be removed to be charged and takes 4 hours to charge fully. The motor is 250W. 

The Macwheel has double disc brakes that are powerful, and the tires are puncture-proof up to 1.90. This model offers three different riding modes: pure electric, pedal-assisted, and manpower mode. 

This bike also comes with a light attached to the front which is great if you are using this bike at night or in low light. The price is on the higher end of the price range.

Pros:

  • Battery can be removed to be charged

  • Can travel up to 18.6 miles when fully charged

  • Light included for use at night

Cons:

  • Only comes 90% assembled

RUNNER UP

SAMEBIKE 14 inch Folding Electric Bike 250W 36V 7.5AH Lithium Battery Ultra-Light Electric Bicycle for Adults

The Samebike comes in two colors, white and black. In terms of the price, it is one of the more expensive options. The wheels are 14 inches and its overall dimensions are 128x97x54. 

It is easy to fold, carry, and store when not in use. It weighs a total of 36.5 pounds. This is one of the heavier bikes included, although it is still fairly lightweight overall. The battery is lithium and can be removed to be charged. 

The Samebike includes an LCD screen on the handle to notify you of your mileage and speed. It also includes a USB charger to charge your phone. Please exercise caution when charging items while riding. 

The bike is made from aluminum alloy and is durable. The braking is disc-style and although it is not completely waterproof, it is water-resistant. 

It is 250W and can reach speeds of up to 15.5mph. On a full battery, it can travel a distance of 18.6 miles. It has three riding modes and includes an LED front light for use at night. It also has a horn for safety.

Pros:

  • Includes a horn, LED light, and USB port
  • Can travel a distance of 18.6 miles when fully charged
  • LED display screen

Cons:

  • It is only shower resistant

RUNNER UP

Hiboy P10 Folding Electric Bike for Adults

The Hillboy has 14-inch wheels and overall dimensions of 45.7x17x47.2 inches. It weighs a total of 35.2 pounds and is easy to store and carry when not in use. It folds down and is easy to transport. 

It is made out of stable and durable materials. It has a thick seat for comfort and a 350W rear-drive motor. 

It can reach speeds of 15.5mph and can climb hills with a gradient of up to 15%. In terms of mileage, it can travel for 18.6 miles on a full battery.

It is an eco-friendly bike and has 3 different driving options and double disc brakes. The Hiboy has a simple but effective design. It features head and tail lights which is great if you are planning to use this bike at night. 

It is made with commuters in mind but is at the higher end of the price range. The battery is not removable which does make charging more awkward.

Pros:

  • Head and tail lights
  • Thick seat for comfort
  • Made from stable and durable materials

Cons:

  • Battery cannot be removed 

RUNNER UP

ANCHEER Electric Bike Electric Commuter Bike 500W Ebike 14'' Electric Bicycle, 20MPH Adults Ebike and Removable 48V 7.5Ah Battery Scooter

This Ancheer Electric Bike is a lot more powerful than the other electric bikes we have included in this article. It is 500W in total.

In terms of dimensions, it is 41.3x37.8x19.7 inches. It only weighs 26.5 pounds and is foldable and easy to carry when not in use.

It has 14-inch wheels that are antislip. With its increased power it can travel inclines of up to 20%. The Ancheer has a smart battery management system which helps to stabilize and protect the battery.

Given this, the bike can reach up to 20 miles before the battery runs out. It runs on a lithium-ion battery.

This bike is the quickest bike we have featured and reaches speeds of up to 20mph. It utilizes cruise control and has a dolphin-shaped design. The dual disc brakes allow for a shorter braking distance.

The Ancheer is waterproof and can be used in bad weather conditions. In terms of the price, it is on the higher end of the price range. It is worth noting that some users have had some issues with the bike throttle.

Pros:

  • The fastest and most powerful electric bike included in this article
  • Waterproof 
  • Anti Slip wheels

Cons:

  • Some users have noticed issues with the bike throttle

Conclusion

We hope this article has helped you to gain more of an idea about the types of electric bikes you can purchase for under $500.

As you can see, there are many different types to choose from, and they all have their pros and cons. There is a bike to suit every price range and all of the bikes we have included are made out of good quality materials.

While there are many to choose from, we think that these are by far the best 10 options available on the market at the moment.

We hope that we have found one that is the right fit for you.

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