Top 10 Cheapest Electric Cars: Which Should You Buy in 2024?

Electric vehicle (EV) adoption is in full swing, with many car manufacturers now producing affordable electric cars of all shapes and sizes – and people buying them. In 2023, US registrations of electric cars went up by 40% compared to 2022, totaling 1.4 million.

Unfortunately, they are still rather expensive, especially when compared to their gas counterparts.

However, the terms to receive the Clean Vehicle Tax Credit have been revised, leading to many people qualifying for $7,500 in tax credit when purchasing EVs like the Tesla Model Y (which in 2023 increased sales by 50% compared to 2022).

Furthermore, EV manufacturers have been slashing electric car prices, making many of the cheapest EVs even more accessible to the average consumer.

In this article, we list the top 10 cheapest new electric cars on the market, from most to least expensive. We also go over their Environmental Protection Agency (EPA)-estimated range (how far the car can go on a single charge) and key features, to help you make the choice that fits you best.

Table of Contents Table of Contents

1. Key Takeaways
2. Top 10 Cheapest Electric Cars in 2024: Price, Range & Features
3. The Bottom Line: Which EV Should You Buy in 2024?
4. FAQs
5. References

Show Full Guide

Table of Contents

1. Key Takeaways
2. Top 10 Cheapest Electric Cars in 2024: Price, Range & Features
3. The Bottom Line: Which EV Should You Buy in 2024?
Show Full Guide
4. FAQs
5. References

Top 10 Cheapest Electric Cars in 2024: Price, Range & Features

10. Hyundai Ioniq 5 – $41,800

At a starting price of $41,800, this is our most expensive car on the list of electric cars for 2024, but also one with some of the best technological features.

The EPA-estimated range is 220 miles for the standard range model. Its key features include a retro-futuristic design combined with its advanced tech, such as fast charging, level 2 autonomous driving (controlling speed and distance and helping you when changing lanes), and a surround-view monitor offering a 360-degree view of the area surrounding your car.

A dual-motor all-wheel-drive system is also available for those willing to sacrifice some driving range for additional performance.

9. Ford Mustang Mach-E – $39,995

Although the starting price for the 2024 Ford Mustance Mach-E is still pretty high, it’s actually lower than for the Ioniq 5 with a higher EPA-estimated range: 250 miles for the standard model (the Ford Mustang Mach-E Select with rear-wheel drive).

It also has some pretty cool features: hand-free highway driving (BlueCruise) and wireless Apple CarPlay® & Android Auto™.

You can also opt for the electric all-wheel drive (eAWD) at an extra cost, sacrificing some range with the standard version (230 miles). However, there is also the extended range, climbing up to 300 miles.

8. Volkswagen ID.4 – $39,735

This car model has a low EPA-estimated range of 206 miles for the ID.4 Standard.

Key features include heated front seats, IQ.Drive (hands-on semi-automated driver assistance capability), ID.Light (the car communicates with the driver using different colors and patterns), as well as App-Connect (for compatible devices) via wireless.

There is no option for an eAWD for the Standard model, even at an additional cost – it only supports RWD. For AWD, you’d need to upgrade to the Pro model (starting at $48,755).

7. Kia Niro EV – $39,600

The cheapest trim for the 2024 Niro EV is the Wind trim, coming in at 253 miles of EPA-estimated range.

Key features for this trim include access to Kia Connect (subscription-based service that gives you access to remote services like lock/unlock, Find My Car, etc.), wireless Apple CarPlay® & Android Auto™, and Kia Drive Wise Driver Assist Technology (hands-on semi-autonomous driving capabilities).

It also has features like wireless phone charging, heated front seats, and lumbar support for the driver’s seat.

6. Nissan Ariya – $39,590

The cheapest version of the 2024 Nissan Ariya is the ENGAGE FWD (only $10 cheaper than the Kia Niro EV), with an EPA-estimated range of up to 216 miles.

This car is a front-wheel drive (FWD), meaning that it has better traction in slippery conditions, and is typically more fuel-efficient and lighter than those with a RWD.

Key features include a heated leather-wrapped steering wheel and heated seats, a RearView Monitor, a power-sliding center console (the console between the front seats can move forward or backward for ease of access for both driver and passengers), and a Head-Up Display (showing information within your line of sight, with speed limits hovering over the road and driving directions appearing for upcoming turns).

5. Fisker Ocean – $38,999

The Fisker Ocean Sport has a starting price of $38,999, with an EPA-estimated range of 231 miles and a single-motor front-wheel-drive, offering better traction in slippery conditions.

Key features include a BigSky Roof (glass roof), a digital rear-view mirror, and front heated seats for added comfort.

Additionally, it includes a power liftgate. However, it does not offer a lot of advanced technology that is featured in other models at around the same price.

4. Tesla Model 3 – $38,990

The Tesla Model 3 was the second top-most purchased EV in the US in 2023, selling nearly 221,000 vehicles of this model – and there’s good reason for it.

It’s considered a cheap Tesla thanks to its tech, range, and performance balanced with the relatively low price, making it a strong contender for the most affordable electric car.

In fact, the cheapest version (RWD) has an EPA-estimated range of 272 miles, the highest range on this list of electric cars.

It also supports fast charging via Superchargers, with in-car navigation automatically routing you to charging options along the way.

Other features include automatic synchronization to your driving settings and music as soon as you walk up to your Tesla, voice commands, automatic emergency braking, and all sorts of different modes for whatever you’re doing in your car: sleeping, watching movies, or playing games.

You can also add full self-driving capabilities for an additional $8000.

3. Hyundai Kona Electric – $32,675

The cheapest trim for this model is the SE trim, coming in at $32,675 – a relatively significant jump from the price of the Tesla Model 3, definitely making it a cheap EV.

However, this is also accompanied by the low EPA-estimated range of 200 miles.

However, it’s an FWD, which is better for traction and supports quick charging. Key features include Hyundai’s SmartSense safety suite, which includes blind-spot collision warning, rear cross-traffic collision-avoidance assist, and forward collision-avoidance assist.

It’s good to note that one feature it doesn’t have is the parking distance warning.

2. Mini Cooper SE Electric Hardtop 2-Door – $30,900

The 2024 Mini Cooper SE Electric Hardtop 2-Door is one of the cheapest EVs you can buy at $30,900.

It offers an EPA-estimated range of 114 miles per charge, the lowest range in this entire list; although it does support quick charging.

Key features include Active Driving Assistant for collision warnings and emergency braking and Apple CarPlay® integration.

1. Nissan Leaf – $28,140

Here we are! The cheapest EV you can buy in 2024 is the Nissan Leaf, which already boasts the 2025 model of this car.

The cheapest trim is the S version, with an EPA-estimated range of 149 miles, although it does support quick charging.

It does carry some tech features, such as the e-Pedal (start, accelerate, decelerate, and stop using only the accelerator pedal), Nissan Safety Shield® 360 (automatic emergency braking with pedestrian detection, and other aspects like blind spot warnings, lane departure warnings, etc.), Apple CarPlay® integration, and Android Auto™ compatibility.

The Bottom Line: Which EV Should You Buy in 2024?

When looking at the top 10 cheapest electric cars 2024, your choice depends on price, range, and features. For the best value, the Kia Niro EV is a great pick. It costs $39,600 and has an EPA-estimated range of 253 miles. It also offers many features like Kia Connect, wireless Apple CarPlay® & Android Auto™, and advanced driver-assistance technologies.

If range is your main concern and you want to buy a cheap Tesla, the Tesla Model 3 is a strong option. It has the highest range at 272 miles and costs $38,990. However, full self-driving features will cost you an extra $8,000.

For those on a tight budget, the Nissan Leaf is the cheapest electric vehicle at $28,140. But it has the lowest range on the list at 149 miles.

Ultimately, the best electric car for you depends on what you value most – range, features, or budget.

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