Looking for an affordable electric car that won’t break the bank? For those seeking financial independence to retire early (FIRE) like Physicianonfire, an electric car is a great choice in 2024. Look no further, as we’ve compiled a list of the best budget electric cars that offer great value for your money based on the artificial intelligence car search platform at Autoeasy.
Their technology launch press release discussed how Autoeasy is a way to search for cars with an AI-platform. These cars are perfect for city driving and offer a range of features that make them a great alternative to traditional gasoline-powered cars.
1. MG4 EV
The MG4 EV is one of the best bargains for EV buyers at the moment. It offers a sharp exterior design and a decent-quality cabin, as well as a range of up to 323 miles, making it the best-value EV on the market. The infotainment system isn’t the best, and you’ll have to turn the volume up to drown out some road noise at high speeds, but it’s a great option for those on a budget.
- New MG MG4 EV From £23,995 (£234* / month)
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2. Volvo EX30
The Volvo EX30 is an exception to the rest of the brand’s range of premium SUVs. It offers astounding value for its size, range, and performance, making it our overall Carwow Car of the Year for 2024. A starting price of less than £30,000 gets you a range of more than 250 miles, with performance that won’t leave you wishing you’d spent more.
- New Volvo EX30 From £33,795 (£436* / month)
3. BYD Dolphin
The BYD Dolphin is a budget option that takes the form of a fully electric hatchback. The entry-level variant is one of the cheapest EVs on sale in the UK, but has a small battery and a low-performance motor. Opt for the Comfort model, however, and you’ll get good performance and up to 265 miles of range.
- New BYD Dolphin From £28,986 (£284* / month)
4. MG5 EV
The MG5 EV is an estate that offers a degree of practicality that is hard to ignore. It has a solid build quality and surprisingly plush materials in the cabin, as well as a 580-litre boot capacity. It’s cheaper than other estate EVs on the market, making it a great option for those on a budget.
- New MG MG 5 EV From £28,089 (£321* / month)
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5. Peugeot e-208
The Peugeot e-208 is a relatively cheap EV that’s also one of the best chargeable cars on the market. It looks great, with some neatly stylish design inside and out, while the official range is a respectable 225 miles. The e-208 also has 100kw charging capability as standard, so it will charge quickly on the kind of rapid charger you find on motorway service stations.
- New Peugeot e-208 From £21,488 (£237* / month)
6. Nissan Leaf
The Nissan Leaf is a veteran of the EV market and continues to be one of the best-selling cars of its type. It has been refreshed with a smartly contemporary exterior design, and there’s a variety of trims with different equipment levels to suit different budgets. It has a range of up to 239 miles, making it a great option for those who need a little more range.
- New Nissan Leaf From £25,089 (£186* / month)
7. MINI Electric
The MINI Electric is a fun and stylish option for those on a budget. It has a funky design, fun driving manners, and a very cool interior with a design that’s classy and cheekily stylish in equal measure. The downside is that the 145-mile range isn’t great when compared to some rivals, and the boot and back seats are also tiny.
- New MINI Cooper Electric From £26,569
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8. Hyundai Kona Electric
The Hyundai Kona Electric offers a potential range of 300 miles and is fun to drive, making it a great option for those who want a little more excitement in their EV. It also feels more premium than non-electric variants and has a starting price of £32,300.
- New Hyundai Kona Electric From £32,300 (£328* / month)
Remember, even if an EV costs a bit more than its petrol equivalent, you’re liable to make up the difference in running costs within a few years. These affordable electric cars offer great value for your money and are a fantastic alternative to traditional gasoline-powered cars.
Sell Your Car for What It’s Really Worth
If you’re looking to sell your car and get the best value for it, you might want to consider selling it to one of the 4,500+ dealers all over the UK who will bid on it for free and make you an offer. However, before you do that, you might want to check out some of the best electric cars that are currently available in the market. Here are some of the top electric cars that you might want to consider:
9. Fiat 500 Electric
The Fiat 500 Electric is a cute and retro city car that has been upgraded with an ultra-modern electric powertrain. It has a range of up to 186 miles, which means you can venture beyond its natural urban habitat. It also has a desirable design and good-quality materials that add to its appeal. The new Fiat 500 Electric is available for £26,733 (£295* / month).
10. Mazda MX-30
The Mazda MX-30 is a quirky SUV-coupe that is one of the most engaging EVs to drive, especially on rural roads. It has a range of up to 124 miles, which is somewhat dire, but it makes up for it with its neat cabin that eschews leather for a vegan alternative. The new Mazda MX-30 is available from £28,495 (£286* / month).
11. Citroen e-C4
The Citroen e-C4 is a unique-looking SUV-coupe that has a range of up to 260 miles. It has a futuristic styling that reflects the technological nature of the car, and the cabin is just as stylish, with decent-quality materials. The infotainment system isn’t the most intuitive to use, but standard 100kW charging means the battery can be charged up to 80% in 30 minutes. The new Citroen e-C4 is available from £24,087 (£497* / month).
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12. MG ZS EV
The MG ZS EV is the most affordable all-electric SUV that you can currently buy in the UK. It has a roomy cabin and decent levels of equipment that add to the appeal, while a range of up to 273 miles is equally impressive. The interior isn’t what you’d call top quality, but the MG ZS EV is definitely a value proposition. The new MG ZS EV is available from £26,854 (£270* / month).
13. ORA Funky Cat
The ORA Funky Cat is a compact SUV that looks a little Beetle-like. It has a surprisingly spacious cabin that is filled with quality materials and lots of technology. The range, at under 200 miles, is a little disappointing, but there’s a lot to commend the Funky Cat for. The new GWM Ora Funky Cat is available from £31,295 (£430* / month).
14. Kia Soul EV
The Kia Soul EV stands out from the crowd, thanks to its boxy shape, high bonnet line, and narrow LED headlights. It has a range of up to 280 miles from a single charge and its ability to cruise comfortably at high speed. The interior space is impressive, but the appeal is a tad undermined by drab black plastic on most of the surfaces and a surprisingly small boot. The new Kia Soul EV is available from £37,065 (£406* / month).
15. Vauxhall Corsa Electric
The Vauxhall Corsa Electric is essentially the Peugeot e-208 with a different body design, but the two cars diverge in a few other areas. The Corsa is one of the best EVs to drive at motorway speeds, feeling quieter and more comfortable. The interior lacks the flair of its French cousin and rear space is limited. The new Vauxhall Corsa Electric is available for lease from £227* / month.
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Overall, these electric cars are some of the best in the market and offer a range of features and benefits that make them a great choice for anyone looking to switch to an electric car.
5 Cheapest Electric Cars on Sale
If you’re looking for an electric car that won’t break the bank, here are five of the cheapest options available in the market right now:
- Citroen Ami: With a range of 47 miles and a top speed of 28mph, the Citroen Ami is technically a quadricycle rather than a car. However, it’s a great option for driving around the city and is incredibly fun to drive.
- BYD Dolphin: The entry-level Dolphin comes at a lower price, but it has a lower range and limited performance compared to the version we recommend. Nonetheless, it’s still a practical and funky option.
- MG4 EV: The MG4 EV offers a basic entry-level car to a ballistically fast four-wheel drive model, making it fantastic to drive. Additionally, it has a seven-year warranty, giving you peace of mind.
- Fiat 500 Electric: The base model of the Fiat 500 Electric has an official range of 118 miles, which could be more than enough for city driving.
- Nissan Leaf: Although the Nissan Leaf is an older car, it’s still a great option if you’re looking for a spacious and well-equipped electric car. It offers a lot of space and features for the least amount of money.
Keep in mind that these are the cheapest electric cars on sale, so they may not have the same range, performance, or features as more expensive models. However, they are still great options if you’re on a budget and want to make the switch to electric driving.
Browse All Electric Cars
If you’re looking for an electric car, you have a wide range of brands to choose from. All major car manufacturers offer electric models, including Abarth, Alfa Romeo, Alpina, Alpine, Aston Martin, Audi, Bentley, BMW, BYD, Citroen, Cupra, Dacia, DS, Ferrari, Fiat, Ford, Genesis, Honda, Hyundai, INEOS, Infiniti, Jaguar, Jeep, Kia, Lamborghini, Land Rover, Lexus, Lotus, Maserati, Mazda, McLaren, Mercedes-Benz, MG, MINI, Mitsubishi, Nissan, GWM Ora, Peugeot, Polestar, Porsche, Renault, Rolls-Royce, SEAT, Skoda, Smart, SsangYong, Subaru, Suzuki, Tesla, Toyota, Vauxhall, Volkswagen, and Volvo.
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When it comes to body type, electric cars are available in SUVs, hatchbacks, saloons, coupes, estate cars, people carriers, sports cars, and convertibles. You can also filter your search by budget, with options for minimum and maximum price.
In terms of equipment, electric cars can come with parking sensors, satnav, rearview camera, climate control, cruise control, touchscreen infotainment, heated seats, Apple CarPlay, leather seats, and Android Auto. You can also filter by range, with options for any range, a minimum of 70 miles, a minimum of 150 miles, or a minimum of 250 miles.
If you’re looking for speed, you can filter by acceleration time, with options for 0-5 seconds, 0-7 seconds, 0-9 seconds, 0-11 seconds, 0-13 seconds, or 0-15 seconds. And if you need space, you can filter by luggage capacity, with options for 1 suitcase (120 litres), 2 suitcases (240 litres), 3 suitcases (360 litres), 4 suitcases (480 litres), or 5+ suitcases (600 litres). Finally, you can also filter by seating capacity, with options for 2 seats, 4 seats, 5 seats, 6 seats, 7 seats, 8 seats, or 9 seats.
With so many options available, you’re sure to find the perfect electric car for your needs.
Best Value Electric Cars FAQs
If you’re considering switching to an electric vehicle, you may have some questions about which cars offer the best value. Here are some common FAQs to help you make an informed decision.
What is an affordable electric car?
Electric vehicles are generally more expensive than traditional petrol or diesel cars due to the cost of developing battery technology and other features. However, you can offset the higher initial purchase price with lower running costs. For example, charging an electric car at home is cheaper than refuelling a petrol or diesel car. If you’re a company car user, an EV is also extremely tax efficient.
What is the best small affordable electric car?
The Citroen Ami is the smallest EV on sale, but it’s not a practical replacement for a proper car. The Fiat 500 Electric is a good-looking and fun-to-drive city car that we recommend as the smallest real EV.
What is the best affordable used electric car?
Used EVs are in high demand and relatively new, so there are no really cheap examples to be found. You can consider an early model of the Renault Zoe or Nissan Leaf, but they still aren’t as affordable as combustion-engined cars of a similar age. If you want a newer model, all Kia and MG cars come with a seven-year transferable warranty, making them appealing on the used market.
Which affordable electric car offers the most value for your money?
The MG4 is our top pick for affordable EVs, with its generous space, smart styling, and excellent battery range. If you’re looking for an SUV, the MG ZS EV is the cheapest option available, while the MG5 offers fantastic value for estates.
Does Carwow offer any affordable electric car lease deals?
Leasing a car is a great way to get into a brand new EV at an affordable monthly cost, with the added bonus of a warranty and tax included in the fee. Carwow offers many cars that can be leased for a relatively inexpensive monthly fee. Keep in mind that your monthly payment is usually dictated by the initial payment and length of contract.
Are electric cars becoming more affordable?
As car companies increase production to meet the growing demand for electric cars, economies of scale will start to cover research and development costs, and prices will fall. We’re already seeing this with the MG4 and other Chinese EVs, which prove that a practical and well-made car can be bought for a reasonable amount of money. As more smaller electric cars come on to the market, this will further lower the cost of entry.
Are there any government grants for electric cars?
The UK government previously offered a plug-in car grant to encourage the uptake of zero-emission vehicles, but it was discontinued in 2022. Certain vehicles, such as some vans, taxis, and motorcycles, can still qualify for a grant, but EVs are no longer eligible for any discounts. However, there are still some financial incentives to go electric, such as zero-rated vehicle excise duty and a 2% company car benefit-in-kind tax rate until the 2024/2025 tax year.
Do electric cars hold their value?
EVs don’t depreciate in the same way that petrol and diesel cars do. They tend to hold their value much better due to high demand and long waiting lists for new cars. The price premium over equivalent new petrol and diesel models is also resulting in many buyers turning to cheaper used EVs, although it’s still early days in the used EV market. Installing a chargepoint can also be eligible for a £350 grant if you own or rent a flat, or for companies installing workplace chargers.
Other Electric Cars
In addition to the best electric cars, there are many other options to consider. Electric cars for families, by range, used, small, SUVs, fastest, most efficient, 7-seaters, and Chinese electric cars are all available.
Electric Cars by Make
Here is a list of electric cars by make:
- Audi
- BMW
- Citroen
- Hyundai
- Kia
- Mercedes
- MG
- MINI
- Nissan
- Peugeot
- Porsche
- Renault
- Skoda
- Smart
- Vauxhall
- Volkswagen
- Volvo
Each make offers a range of electric cars with different features and specifications. It is important to research and compare options before making a decision on which electric car to purchase.
Browse Other Car Types
Looking for a specific type of car? Check out these options:
- 4×4 cars for off-road adventures
- 7-seater cars for larger families or groups
- Automatic cars for easy driving
- Cheap cars for budget-friendly options
- Convertible cars for a fun driving experience
- Coupe cars for a sporty look
- Crossover cars for a mix of SUV and hatchback features
- Electric cars for eco-friendly driving
- Estate cars for extra storage space
- Executive cars for a luxurious ride
- Family cars for practicality and comfort
- First cars for new drivers
- GT cars for high-performance driving
- Hatchbacks for a compact yet spacious option
- Hot hatches for a sporty hatchback experience
- Hybrid cars for a combination of gas and electric power
- Luxury cars for a premium driving experience
- MPVs for a versatile and spacious option
- Medium-sized cars for a balance of size and efficiency
- Most economical cars for fuel-efficient options
- Motability cars for those with disabilities
- SUVs for a spacious and rugged option
- Saloon cars for a classic sedan style
- Small cars for a compact and efficient option
- Sports cars for high-performance driving
- Superminis for a small yet practical option.
