Best Electric Bike Under 500 - Thebicyclegeek

As gas prices worldwide increase each year and wages continue to stay flat, would you like to find the best electric bikes under 500 to replace your commuting?

We probably know that an electric bike can be an investment. But with high-end models costing thousands of dollars, you are willing to do anything to save a few bucks. There is good news, some of the best electric bikes you can buy are under $500.

Don’t believe it? Let’s go over why an electric bike under $500 is a worthy investment.

Is It Worth Buying An Electric Bike?

Absolutely! E-bikes are faster than traditional bikes. You will not be cruising around the neighborhood like driving a Harley-Davidson. But you will reach speeds upward of 20 MPH. Electric bikes like their traditional bike brethren – are also fantastic for the environment. Although you are using electricity to charge the bike, you are still reducing fossil fuel usage versus driving a car.

So if you are also ready to jump on the “e-Bike bandwagon”, so glad you do it ahead of the curve!

Can I Get An Electric Bike for $500?

In the past, electric bikes can be expensive for most people. With the development of production technology and technology, building an e-bike become easy. You can even find an electric bike for adults under $500 today. All you have to do is do plenty of research!

Before purchasing an electric bike, ask yourself how often you will use it, why you will use it, and how much you are willing to spend. Keeping all these thoughts in mind before you buy will help keep you focused.

If you are ready to start, let’s get on with the best cheap electric bike for under $500.

Best Electric Bike Under 500

Swagtron Swagcycle EB-5 – Our Best Choice

Swagtron Swagcycle EB-5 Electric Bike - Thebicyclegeek

Out of all the best electric bikes under $500, the Swagtron Swagcycle EB-5 is the king of the mountain. It’s well-made and has a powerful motor that can quickly get you up to speed. The bike is also easy to control and also has a comfortable seat.

On top of all the features, this bike gets up to 15 mph, letting you speed through neighborhood and city streets quickly. It also boasts a relatively quick charge time of 4 – 5 hours, lasting up to 15.5 miles.

If you’re seeking the correct combination of power, speed, and affordability, the Swagtron is the way to go.

Product Specifications

  • Color: Black, White
  • Speed: 15.5 mph
  • Weight: 37 lbs
  • Maximum Load: 264.5 lbs
  • Range: 15.5 mi
  • Wheels: 14″
  • Charging Time: 4-5 hrs
  • Folded Dimensions: 26 x 15.6 x 23.6 in
  • Unfolded Dimensions: 49.2 x 21.7 x 34.9 in


1. Small size which fits perfectly on a bus bike rack
2. The throttle is very responsive
3. A range of just over 15 miles on one charge
4. Foldability means ease of storage
5. Purchase an extra battery for even more riding time


1. Only one mode for it
2. Lack of color choice
3. The small tires may make you feel like you are driving something much smaller

Why Recommended

If you require a small commuter bike to get you around your neighborhood, Swagtron’s offering is easy to recommend. The Swagcycle’s top speed of 15.5 mph is also top in its class. For the best all-around ride, there is no one else to suggest.

Best Folding Electric Bike under $500

Jetson Bolt

Jetson Bolt Folding Electric Bike - Thebicyclegeek

Jetson has spent years perfecting their electric scooters and hoverboards, so it was only a matter of time before they dipped their toes into the electric bike market.

The Jetson Bolt is perfect for an adult in a small living space. At 40 pounds, it’s a bit heftier than other bikes on this list, but the bike makes up for it with its foldability.

Commuters seeking a bike from Point A to Point B will find a worthwhile bike.

Product Specifications

  • Max Speed: Up to 15.5 mph
  • Max Range: Up to 15 Miles
  • Weight: 40 lbs
  • Motor: 250 Watt Hub Motor
  • Battery: 36V, 6.0Ah Lithium-ion
  • Brake: Rear disc brake
  • Wheels: 12″
  • Charging Time: Up to 5 hours
  • Folded Dimensions: 40″L x 4.5″W x 28″H
  • Unfolded Dimensions: 40″L x 20″W x 37″H


1. Small size, easy to take
2. The powerful motor means you’ll still hit top speeds quickly regardless of the bike’s size
3. An incredible range of 15 miles is perfect for smaller areas in towns
4. An LED display gives you details on how much battery is left
5. It even has a carrying handle


1. Small size is not good for big people
2. Despite its foldability, this bike still comes in at 40 pounds

Why Recommended

Jetson has gained a stellar reputation for its scooters and hoverboards. They’ve captured that reputation and bottled it into a fantastic electric bike for those seeking a smaller entry.

Cheap Electric Mountain Bike for Adults

Hyper Bicycles Electric Mountain Bike

Hyper Bicycles Electric Mountain Bike - Thebicyclegeek

Adults seeking an electric bicycle that looks more like something they would traditionally ride have found the bike of their choice.

Hyper Bicycles Electric Mountain Bike is the perfect combination of all factors in buying an electric bike – speed, size, and charge time are among the best in the market.

Product Specifications

  • Frame: 26″ aluminum
  • Motor: 36V Brushless Motor
  • Speeds: 6-speed grip shifter with the rear derailleur
  • Brakes: Front and rear v-brakes
  • Wheels: Alloy wheels and 3-piece crank
  • Battery: Integrated flush-mount 36v/7.8 Ah battery with keys and charger
  • Charge Time: 4 Hours
  • Range: About 20 Miles
  • Assembled Size: 43″L x 11″W x 32″H


1. An electric bike in a traditional mountain bike style
2. A 6-speed motor is perfect for rough terrain
3. Four hours of charge time is incredible for a bike like this
4. Sized appropriately for many adults
5. Twenty miles of the range goes beyond other electric bikes


1.  The seat is a little uncomfortable
2. No real indicator of how much battery is left

Why Recommended

This is an incredible bike for adults seeking a mountain bike with a twist. It is great value for the money if you really want an electric mountain bike that spends about $500.

Cheap Electric Commuter Bikes for Adults

NAKTO Camel Step-thru Black Electric Bike

NAKTO Camel Step-thru Black Electric Bike - Thebicyclegeek

What a beautiful and unique electric bike this turned out to be! The NAKTO Camel Step-thru Electric Bike is the bike of your neighborhood dreams. With an added front basket, you’ll take this bike to the farmer’s market every weekend. A maximum speed of 20 mph makes this the bike of choice for commuters and those seeking a speedier ride.

Product Specifications

  • Lithium Battery: 36V 10.4Ah
  • Charging time: 4-5 hours
  • Motor: 36V 250W high-speed brushless gear motors
  • Maximum speed: 20mph
  • Frame: High-strength carbon steel frame
  • Brake: Front V Brake, Rear Expansion brake
  • Fork: High-strength steel fork
  • Derailleur: 6 Speed Gears
  • Vehicle weight: About 50 lbs with battery
  • Load capacity: 250 lbs
  • Mileage: throttle mode(32km/18miles)-pedal assist mode(35km/20miles–55km/30miles)


1. It’s definitely a budget bike
2. A charging range of up to 28 miles means plenty of drive time
3. This bike is a head-turner with its unique style
4. We adore the basket and the added trailer
5. A carbon steel frame means you’ll be riding this bike for years


1. A little heavy
2. Lack of tail light

Why Recommended

The NAKTO Camel Step-thru Electric Bike is an incredible choice in commuter bikes with a unique style and plenty of speed. Its options to pedal, pedal assist, or go full throttle complete this bike. The more realistic use case is for short trips like local work commutes, runs to the grocery store or gym, etc. It’s everything one would look for in this bike and fun too.

Conclusion: Best Electric Bikes Under 500

Electric bikes are the next wave in alternative transportation methods. The good news is that despite technological advances, you can afford one for under $500.

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