One of the chief electric vehicle criticisms from skeptics is that they are expensive. No matter how much cheaper charging one may be than filling up with gas, an EV typically ends up pricier than its combustion alternative. That truism has validity, but it overstates matters.
Not all EVs cost a fortune. Solid options are available for far less than the price of the average new car. And even if the sticker price seems high, the $7,500 federal tax credit, state, dealer and manufacturer incentives and lease offers can make an EV more affordable on a monthly basis than one would think.
No matter what segment you’re looking at, there are great EV deals out there. Here are our choices for the five best.
Gallery: 2025 Hyundai Ioniq 6
Best Deal on a Long Range EV: Hyundai Ioniq 6 SE
- Starting MSRP: $42,700
- EPA Range: 316-342 miles
The Hyundai Ioniq 6 looks quirky for a reason. That swoopy shape gives the car a super low 0.21 drag coefficient, which is aerodynamic efficiency on par with vehicles like the Tesla Model S, Lucid Air and Porsche Taycan for a little more than half the price. The Ioniq 6 offers a formidable range of up to 342 miles in RWD form and 316 miles in AWD form with the SE trim and 350 kW fast charging. The SE trim starts at just $42,700. Because it’s a little bit less conventional and tougher to sell than the Ioniq 5, Hyundai offers some surprisingly cheap lease deals to move Ioniq 6s off the lot.
Gallery: 2024 Chevrolet Equinox EV First Drive
Best Deal on a Budget EV: Chevrolet Equinox EV LT
- Starting MSRP: $33,600
- EPA Range: 319 miles
Chevy discontinued the Bolt EV. But even if the Bolt were still around, it would be hard to argue against upgrading to the Equinox EV. The Equinox isn’t the sportiest or sexiest EV on the road. It doesn’t pack the blistering 350 kW fast charging of other Ultium vehicles. But it’s hard to find a better range for value proposition. The Equinox EV offers up to 319 miles of EPA range and exceeded its highway estimate in our testing. The new LT trim starts at just $33,600 before you factor in eligibility for the full $7,500 federal tax credit.
Gallery: 2023 Lucid Air Touring: First Drive
Best Deal on a Luxury EV: Lucid Air Touring
- Starting MSRP: $78,900
- EPA Range: 406 miles
The Lucid Air offers the best EPA range in a production car. And if you aren’t leveling up to the full bore Air Grand Touring, it can be surprisingly affordable. The Air Touring offers a lot better specs than luxury competitors at the price point with 620 horsepower, more than 400 miles of range, and dual-motor AWD starting under $80,000. Lucid provides thousands of dollars of “Air Credits” and incentives. With lease prices under $800, you can get an Air Touring for more than $200 less per month than a Tesla Model S with a cheaper down payment.
Gallery: 2024 Kia EV9 First Drive
Best Deal on a Family EV: Kia EV9 Wind AWD
- Starting MSRP: $63,900
- EPA Range: 280 miles
The three-row Kia EV9 offers great all-around EV capability and family practicality. It’s high-design from the exterior to its infotainment tech. And it’s far more affordable than the Rivian R1S. Calling the EV9’s $54,900 starting price a “wake-up call for the industry” may have been an overstatement. But it undersells how reasonably priced an EV9 can be. Kia is offering cash back and 0% financing deals for up to 72 months. Lease deals are available with monthly payments of less than $400. The EV9 can be about the same price as or cheaper than a combustion Telluride.
Best Deal on a Tesla: Tesla Model Y Long Range RWD/AWD
- Starting MSRP: $44,900
- EPA Range: 311-337 miles
Why is the Tesla Model Y America’s second-best-selling car? Value plays a big role. Tesla pricing can change on an Elon whim. But as of this writing, Long Range RWD and Long Range AWD Model Ys currently start under $50,000 before the federal tax credit. Tesla is sweetening that further with sub-$400 per month lease deals and 0% APR for up to 60 months for financing. With up to 337 miles of range and more than 30 cubic feet of cargo space, the Model Y is too good of an EV deal for many buyers to pass up.
