Bikes give you the freedom and fun to enjoy transportation in a compact way.
But, what if your fitness level is a ‘work in progress,’ you live near a lot of hills, or want to avoid getting to work a sweaty mess?
These problems can cause you to avoid biking regularly, especially if you don’t have the money to buy a better bike that provides the comfort and longevity you’re looking for.
An electric bike solves these problems.
It shortens the time and distance to your destinations, flattens hills, and makes riding more comfortable, convenient, and effortless – all at a similar price of a regular bicycle.
Still, a regular bicycle is expensive enough, but you could be spending thousands once you factor in a motor. Thankfully, the best electric bikes don’t have to cost more than $500.
If you’re looking for the best electric bikes for under $500, look no further than our lists.
With these recommendations, you’ll reach your destinations in an environmentally friendly way without a significant hit to your wallet.
Best Electric Bikes for the Money: Comparison Table
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| Name | ANCHEER Mini Folding Electric Bike | Swagtron Folding Electric E-Bike | Swagtron Folding Electric SwagCycle | Jetson Bolt Electric Bike | Goplus Folding Electric Bike |
| Weight | 26.5 lbs | 30 lbs | 32 lbs | 34 lbs | 30 lbs |
| Motor | 350W | 250W | 200W | 250W | 350W |
| Battery | 36V 6Ah | 36V 5Ag | 37V 5Ah | 36V 5.2Ah | 36V 6Ah |
| Charging Time | 3 Hours | 2.5 Hours | 3-4 Hours | 5 Hours | 3-4 Hours |
| Max Speed | 15 mph | 10 mph | 9 mph | 15.5 mph | 19 mph |
| Load Capacity | 265 lbs | 264 lbs | 264 lbs | 250 lbs | 265 lbs |
| Wheel Diameter | 12” | 12” F 10” R | 12” F 10” R | 12” | 12” |
| Price | $379-$499.99 | $299-$399.99 | $399.99 | $399-$499.99 | $550.00 |
Best Electric Bikes Under $500
Swagtron Folding Electric SwagCycle – 200W 37V
The Swagtron Folding Electric SwagCycle is one of the best electric bikes under $500 because of the care and detail made in the design and features. The designers took into consideration the price point and improved on foldable electric bikes with few drawbacks.
It’s neutral black color, and compact design will complement business suits or yoga pants.
The only negative to this e-bike is its solid frame (32 lbs), and since the SwagCycle can only fold its handlebars, it may be challenging to fit in a small car. However, it’s all positives from this moment on.
Not only can this bike hit a top speed of 18 mph without peddling (in fact, there are no peddles at all), but it has a 15-mile range.
Typically, a 15-mile range would be a negative, but at 18mph, you can reach your destination as fast as a bicycle without breaking a sweat!
Swagtron Folding Electric SwagCycle is fantastic for anyone around 6’ tall because the seat is adjustable. You won’t have to sit in the fetal position to enjoy a $500 electric bike.
Included with this $499 bike is a pair of disc brakes, which is necessary for a motor with a high top speed. For night bikers, the headlights activate when lighting levels are too dark, while the rear lights will activate upon braking.
A USB port on the side will connect to any device that uses one. With this port, you can charge your phone or other devices on the go.
Although it’s a small benefit, it pushes Swagtron into the top spot for its on-the-go functionality.
ANCHEER Mini Folding Electric Bike – 350W 36V
The ANCHEER E-Bike barely costs $400, but its fashionable design makes it look expensive. This folding bike adopts an aluminum alloy frame that makes its way to the wheels for extra protection from stones and debris on the road.
Inspired by the shape of dolphins, it’s functionality, and sleek look will turn heads.
Super small and compact, its tiny structure can fit in any car trunk or public transport with little effort. At only 26 lbs, it’s the lightest bike on our list.
But, don’t be fooled, this baby can cruise at 12 mph, and the disc brake mechanism will ensure you’ll get out of a sticky situation unscathed. If you live in a place with a wet climate, the mudguards will protect your shoes and pants from splashing water or mud.
ANCHEER’s Mini Folding Electric Bike may be the best bike for your money because it’s IPX5 waterproof, which can resist a sustained, low-pressure water jet spray. You won’t need to worry about this bike short-circuiting.
If you prefer to drive at night, this e-bike has both headlights and taillights connected directly to the battery.
Although the ANCHEER Mini Folding Electric Bike has many positives, it falls short because it can’t fold in half, there are limited adjustment options, and it can only venture 15 miles before shutting down.
The ANCHEER can’t fit into an Uber because it’s too large at 40” long. If you’re over 5’8”, I would pass this model up as it’s curvy designs results in a static seat.
Swagtron Folding Electric E-Bike – 250W 36V
Swagtron’s Swagcycle’s offers excellent products at a low price. For as little as 299$ on sale, the Swagtron Folding Electric E-Bike has a solid, durable aluminum frame.
Similar to the other SwagCycle on this list, it’s identical design, shape, and color makes it accessible and attractive to most consumers.
Lightweight at 29 lbs, the real pull to this e-bike is its foldability. Although it doesn’t fold in half, the frame of the wheel is only 37” long and can fit in most trucks, in the average vehicle, and Ubers.
You won’t need to fold it in public transportation. Although it has the lowest top speed on our list at 10 mph, this is impressive for a small frame. More impressive for its size is it’s 2.5-hour charge and 12-mile range.
The Swagtron has no pedals and no effort, so you can sit comfortably and let the bike take you to your destination without any work from your legs.
With automatic checks with the e-bikes companion app and smart handlebars, you’ll always know how much charge remains in your bike as well as the condition of the motor and battery.
Unfortunately, although this is one of the best electric bikes under $500, the Swagtron has no suspension despite its excellent design.
The fat tires will absorb some of the impact, but the ride may be bumpier than the others on this list. It’s also not an e-bike for tall people, because the seat isn’t adjustable.
Jetson Bolt Electric Bike – 250W 36V
If you want one of the best electric bikes under $500, consider the Jetson Bolt Electric Bike for its comfort and enjoyable ride. Made of robust aluminum, it’s sturdy enough to carry a lot of weight while light enough to carry with its convenient built-in handle. Its sleek black color looks attractive on the sidewalk or road.
Although it is the heaviest e-bike on the list at 34 lbs, it’s still light enough to carry around comfortably. The Jetson has a high top speed at 15.5 mph, and it won’t slow its pace when climbing a hill.
However, it has a long charge time of around 5 hours, but the Jetson has a 17-mile range – the longest on our list.
The electric motor does all the work because the Jetson has no pedals. The frame can survive a couple of falls, but the disc brakes can help avoid a collision if a fall is imminent.
One of the most significant benefits is the tire shock absorption so that you can hit potholes without noticeable impact. Along with all of those positives, the Jetson has headlights and taillights, mudguards, and IPX5 waterproof protection. As a bonus, the seat is adjustable and suitable for people from 5’2” to 5’9”.
Were you thinking about taking your e-bike on an Uber or small car?
Unfortunately, only the handlebars fold, so you won’t be able to place it comfortably on public transport. Still, where it lacks in foldability, it makes up for its mile range.
Goplus Folding Electric Bike – 350W 36V
Although the Goplus is $50 over budget – hear us out, because this bike is one of the best electric bikes for the money.
The Goplus Folding Electric Bike has a teardrop, black design similar to the Jetson, but what sets it apart is its high wattage, which translates to high speeds, a vast range, and superior comfort.
Considerably light at 30 lbs, it’s truly portable because the handlebars and head will fold down into the e-bike. Although it doesn’t fold in half, this makes the bike small enough to fit in Ubers, small cars, and won’t take up a lot of room in public transport.
Its top speed is impressive at 19mph, and with a 12.5-mile range and 3 hour charge time, you can get to your destination faster than any other e-bike on this list.
With no pedals, the Goplus does all the work, and the disc braking is necessary with a fast e-bike like this. Although there are no shocks, the tires provide enough safety from sharp elevation differences in the road.
Rear braking tail lights and front headlights give enough light in the middle of the night, while the IP54 waterproof grade provides adequate protection from water.
There are very few negatives here, especially for the price.
However, it’s disappointing that the bike cannot fold in half. Still, the added benefit of APP control, which gives the driver add-ons like cruise control and drive distance, is a fantastic positive to the Goplus.
