10 Best Electric Cars for the Money

2014 nissan leaf ・ Photo by Nissan

We’re still early in the electric vehicle (EV) game and getting the best buy means placing your bet carefully. That’s why our list of the 10 best electric cars for the money includes both new and previously owned models. While new EVs include substantial tax incentives from the federal government (and some states) for vehicle purchase, EVs are subject to excessive depreciation. It’s all about how you play the field.

For many folks, transportation is pure function and electric vehicles are an appliance. EVs are exceptionally attractive on the resale market when covered by factory warranties and it can be advantageous to lease a new vehicle, rather than purchase it.

2017 Kia Soul EV

The fully-electric Kia Soul EV delivers plenty of car for the money, thanks to its roomy interior, substantial factory incentives, and Kia’s ongoing commitment to quality. The Soul EV is offered in three trim levels - the California-only EV-e ($32,250,) EV ($33,950,) and EV+ ($35,950) - with a 27 kWh battery system that includes DC Fast Charging and provides 93 miles of range. 

The top-of-the-line EV+ is well-appointed with leather upholstery that features heated/ventilated bucket seats up front and heated seats in the rear. Leasing looks to be the better deal. While a fully-decked out EV+ with the panoramic sunroof nears $38,000 with destination, Kia’s aggressive leasing program slashes the monthly cost to slightly under $200.

Photo by Kia

2017 Hyundai Ioniq Electric

The Ioniq Electric delivers oodles of value but is currently only available in the state of California. Hyundai offers an innovative “subscription” plan that offers considerable advantages over purchasing. The Ioniq Unlimited+ leasing plan currently includes unlimited mileage and charging reimbursement. There are two trim levels - base ($29,500) and Limited ($32,000) - with a 28 kWh battery that provides 124 miles of range.

Monthly subscription costs range from $275 for the base model to $365 for the Limited model equipped with the Ultimate package (for well-qualified lessees.) This plan eliminates the depreciation risk of purchase, as well as the worries of exceeding the mileage plan. Combine that with Hyundai’s exceptional warranty program and the Ioniq is one of the most cost-effective electric cars you can drive for the money.

Photo by Hyundai

2017 Chevrolet Bolt

The 2017 Chevrolet Bolt is the first mainstream electric vehicle to break the 200-mile range barrier. The perky little five-door hatchback is offered in two trim levels - LT ($43,495) and ($41,780) - with a 60 kWh battery that provides a generous 238-mile range. While the $7,500 federal purchase tax rebate lowers the acquisition costs substantially, leasing may be the optimum way to go.

You’ll need to run the numbers to see if the Bolt is the best EV for you. It all depends on how the factory plans fit your requirements. Chevrolet’s Ultra-Low-Mileage lease for well-qualified starts at under $250 per month, with approximately $4,000 down and 30,000 miles. The Bolt is fun to drive and is exceptionally well suited for the city.

Photo by General Motors

2017 Chevrolet Volt

The 2017 Chevrolet Volt is a splendid evolution of Chevrolet’s innovative extended range electric car. The second generation Volt is offered in two trim levels - LT ($34,095) and Premier ($38,445) - with a 17.1 kWh lithium ion battery pack that provides 53 miles of pure electric range.

If you have a relatively short commute and can plug in at home every night (or at work during the day,) you’ll rarely see the gas station. With the same $7,500 federal tax rebate eligibility as the Bolt, the Volt's lower price may make it the best Chevy EV for the money if you’re purchasing, rather than leasing.

Photo by Chevrolet

2014 Chevrolet Volt

With exceptionally high owner satisfaction ratings, the first generation Chevrolet Volt is one of the best electric cars for the money, hands down. Buying a used Volt offers a considerable advantage over a new purchase. One-owner certified Pre-Owned (CPO) Volts are a solid value, with prices starting under $15,000 for low-mileage cars.

The Volt’s extended-range Voltec drivetrain ensures that you’ll never run out of juice, with a lithium-ion battery pack that provides up to 38 miles of pure electric range and a gasoline-powered engine/generator that delivers up to 380 miles with a full tank. There are just two downsides to the first gen Volt: a tight back seat and a factory spec for premium gasoline.

Photo by Chevrolet

CPO Tesla Model S

While Tesla controls a huge chunk of the resale market and prices are stronger than most electric vehicles, there’s plenty of money to be saved by going with a certified pre-owned (CPO) Model S. Purchasing a CPO Model S rather than a brand new vehicle provides a considerable cost advantage, making the CPO the best Tesla for the money.

Tesla prices range widely, based on battery capacity and driveline configuration. While a 60 kWh rear-wheel-drive CPO Model S 60 can be had for under $50,000, a full-ticket performance all-wheel-drive P85D may add 50% or more to the bottom line. Worth noting: CPO Model S include free supercharging, which is not included with the new Model 3.

Photo by Tesla

2014 Nissan Leaf

While the first generation Nissan LEAF has a limited amount of driving range, an ample supply of vehicles at low prices make it one of the best electric cars for the money. The 2017 Leaf is available in three trim levels - S ($30,680,) SV ($34,200,) and SL ($36,790) with a 30 kWh lithium-ion battery that provides up to 107 miles of range. Nissan is currently offering 0.0% financing and $4,000 cash back to help clear the way for the second generation Leaf, which debuts this fall. Nissan Certified pre-owned (CPO) Leaf can be an even better deal. Low mileage CPO Leaf

Nissan is currently offering 0.0% financing and $4,000 cash back to help clear the way for the second generation Leaf, which debuts this fall. Nissan Certified pre-owned (CPO) Leaf can be an even better deal. The low mileage CPO Leaf starts at less than $10,000 and non-CPO Leaf sells at substantially lower prices.

Photo by Nissan

2018 Nissan Leaf

The first generation Nissan LEAF has sold over 277,000 units, making it a best-seller worldwide. The specifications are trickling out on the second generation Leaf at long last and Nissan has clearly stepped up their game. The new Leaf will debut with an array of cutting-edge improvements, starting with Nissan’s ProPILOT Assist technology to reduce the stress of stop-and-go highway driving. e-Pedal technology eases the hassles of congested city streets with one-pedal driving that provides the capability to come to a complete stop on hills.

Improved aerodynamics deliver more efficiency at highway speeds along with more stability. Driving range, pricing, and availability have not been announced as of this writing.

Photo by Nissan

2018 Tesla Model 3

The fanfare that swirls around the launch of the Tesla Model 3 sedan is unprecedented. The vehicle’s base price of approximately $35,000 and performance pedigree have enticed hundreds of thousands of customers to place non-binding purchase reservations. There are caveats. While options will push the purchase price well above that mark, it’s still one of the best electric cars for the money. Only buyers at the top of the Model 3 reservation list will receive the full $7,500 federal rebate, however, as the government will begin to phase out the incentive when Tesla hits the 200,000 vehicle mark. The Model 3 is expected to deliver between 220 and 310 miles of range, depending on the trim level. High-speed Supercharging will be on a pay-per-use basis with the Model 3, unlike the Model S, which includes unlimited free Supercharging.

Photo by Tesla

2017 BMW i3

The BMW i3 is one of the most innovative vehicles on the road today and is one of the best electric cars for the money when you shop carefully. The i3’s stunning carbon-fiber reinforced plastic structure is unlike anything else, and the interior is finished with unique sustainable materials.

The i3 is admittedly pricey when purchased new, starting at $42,500 for the 22 kWh model, rising to $44,450 for the 33 kWh model with 114 miles of pure electric range, and topping out at $48,300 with the 2-cylinder gasoline powered “range-extender” which is good for 180 miles with a full tank. Previously owned models are a bargain, by comparison. A wide selection of low-mileage BMW Certified Pre-Owned i3 are currently on the market, with prices starting under $16,000 and financing as low as 0.9% for well-qualified buyers.

Photo by BMW