Chevrolet
Electric cars have become a byword for expensive vehicles. There's some merit to that. Battery technology isn't cheap. Electric cars — not building on a century of combustion engine development — require more research and development. An electric car will likely be significantly more expensive than its combustion counterpart. But that's not the whole story.
The average price Americans pay for a new car is around $47,000. And you can buy several electric vehicles for much less than that. Not all of them will offer spectacular range or the amenities one would find in a similarly priced ICE vehicle. But all of them allow you to avoid paying crazy high prices at the pump.
What to watch out for when buying a cheap electric car
Range: Lower-range EVs are workable in theory. Most drivers — even in the suburbs — don't drive 100 miles daily. But you typically only charge an EV to 80-90% except in rare circumstances. Cold weather can sharply reduce the range.
Tax Credits: Some (but not all) EVs are eligible for a $7,500 federal tax credit. That tax credit is non-refundable. So, you must owe $7,500 on your taxes to get back the total credit. On the other side, some states offer additional tax credits on top of the federal incentives that can make the price even cheaper.
What State You Live In: Not all EVs are sold in every state. Manufacturers may prioritize California and states that follow the California Air Resources Board (CARB) that require manufacturers to sell them over other states.
The Cheapest Electric Cars You Can Buy in 2022
2022 Nissan Leaf
The Nissan Leaf was the first mass-market EV to hit the market back in 2010. It set a paradigm for what people thought they would be dealing with when they bought an electric vehicle — small size, dorky looks, underwhelming performance and low range. Fast forward to 2022, and you can score a Leaf with more than double the horsepower and triple the range of the original.
Starting MSRP: $27,000
EPA Range: Up to 226 miles
Federal Tax Credit: Yes — $7,500
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2022 Chevrolet Bolt EV
Chevy markets the Bolt subcompact hatchback as "electric for everyone." It provides the range buyers want at a price point that — even without eligibility for the federal tax credit — most buyers can afford. It's refreshed for 2022 with a sleeker exterior, more standard features and an even more affordable price point.
Starting MSRP: $31,500
EPA Range: 259 miles
Federal Tax Credit: No
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2022 Chevrolet Bolt EUV
Like the Bolt but don't think it has enough space? Meet the all-new Bolt EUV. It's about six inches longer than the Bolt, with some added leg room. The looks are a tad more SUV-like. However, it's also more expensive and offers a bit less range. The Bolt EUV was the first Chevy vehicle to receive Super Cruise hands-free driving.
Starting MSRP: $33,500
EPA Range: 247 miles
Federal Tax Credit: No
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2022 Mazda MX-30
Mazda won't explicitly call the MX-30 a compliance car to meet CARB requirements. But California is currently the only state where you can buy one. Like other Mazda's, the MX-30 is tuned very well for driving and has an excellent interior. But it's distinctly lacking in Zoom Zoom, and only 100 miles of range is a killer.
Starting MSRP: $33,470
EPA Range: 100 miles
Federal Tax Credit: Yes — $7,500
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