Electric bicycles, also known as e-bikes, are rising in popularity, and for good reasons. They’re eco-friendly as they’re energy-efficient, and they encourage a healthy lifestyle.
Most of them can be folded to save space, a useful feature for cyclists who commute to work every day. Not to mention that e-biking is a ridiculously cheap mode of transportation!
Sure, e-bikes are less expensive than cars or ATVs, but the best ones can still be too pricey for the average commuter. That’s why we made a list of the best folding e-bikes that you can buy for less than $500 out there!
If you’re willing to spend a bit more for higher quality, you should also check out our best cheap electric bikes, best ebikes under $1,000 and best ebikes under $2,000 guides for more great options.
Best Electric Bikes Under $500
- SWAGTRON Swagcycle EB-5
- Engwe T14 Folding Electric Bike
- Ancheer 500W Electric Bike
- DYU S2 E-Bike
- ANCHEER AN-EB5 Plus Electric Commuter Bike
- ANCHEER AN-EB006 Folding E-bike
1. SWAGTRON Swagcycle EB-5
The Swagtron Swagcycle EB-5 is designed and built for city commutes.
MSRP: Check on Amazon
- Aluminum alloy frame
- 14-inch tires
- Caliper brakes
- Optional cargo rack
- Best For: City commutes
Looking for an e-bike for commuting around the city that’s easy to take with you? The Swagtron Swagcycle EB-5 may be just what you need.
It’s more expensive than the older Swagtron EB1 simply because it has better components and longer battery life. The EB-5’s upgrades make it a popular, affordable choice for both beginner and expert riders.
The 250W rear-mounted motor lets you traverse 30-degree inclines at a top speed of 15mph.
This e-bike uses a 36V 7.8Ah Lithium-ion battery, either external or built-in, depending on your preference. Both have similar performance, but the removable battery is a better choice for commuters who want to get extra mileage without a recharge.
With a maximum range of 15.5 miles on the pedal assist, a fully-charged Swagcycle EB-5 can take you wherever you want to go with minimal effort.
The Swagcycle EB-5 weighs only 37 pounds, which is already lighter than most e-bikes in its price range. It can even fold to a third of its size for maximum portability! Being able to unfold this e-bike for a quick ride anywhere is guaranteed to boost your swag level.
Although this e-bike is best suited for city roads, its thick 14-inch tires can also withstand off-road punishment. These tires use quick-disconnect power lines to make them fully detachable for easier maintenance.
This e-bike is already fully assembled right out of the box, so you can start pedaling right away!
There is only one speed setting on this e-bike, but it’s light enough that you barely need pedal assistance to cruise around the city.
Overall, the Swagtron Swagcycle EB-5 is a worthy budget e-bike with respectable range and handling. Its components may be simpler than other e-bikes, but it still gets the job done!
2. Engwe T14 Folding Electric Bike
MSRP: $630
- 14-inch tires
- Front and rear lights
- Triple shock absorber
- Best For: City commutes, night rides, limited storage
There are no better words to describe the Engwe T14 than “small but mighty.” It’s one of the lightest and smallest e-bikes under $500, but it can match up with other brands in terms of performance and endurance.
- Related post: Engwe E-Bikes Review
The 350W rear-mounted motor of the Engwe T14 can give you sufficient throttle to reach a maximum speed of 20mph. You can even climb a 15 percent slope grade, which is impressive for such a small e-bike!
The Engwe T14’s large-capacity 480 Wh battery can provide a pedal-assist for 20-50 miles on a single charge. Eco-friendly commuters will get a kick out of this e-bike due to its impressive efficiency!
Engwe T14 can easily fit in a car’s trunk with room to spare.
If there’s one thing that sets the Engwe T14 apart from other budget e-bikes, it’s the powerful front and rear lights!
The front and rear lights of this e-bike illuminate a larger area, which is useful when you’re cruising at night. It’s important to be seen by other drivers when you’re riding a tiny vehicle!
The Engwe T14 makes for an ideal city e-bike because it can weave through traffic and tight spaces with ease.
Despite its small frame, you can adjust the seatpost to make yourself more comfortable during the ride.
This bike also has a triple shock absorber system that will make your rides buttery smooth no matter the surface.
All in all, the Engwe T14 is a worthy investment for commuters of all ages. As long as you keep this e-bike charged, you can count on it to carry your weight across the city!
Buy from Engwe-Bikes.com Buy on Amazon
3. Ancheer 500W Electric Bike
- High-strength steel frame
- 14-inch tires
- Dual disc brakes
- PX5 Waterproof
- Best For: City commutes
Age usually doesn’t matter when it comes to riding electric bicycles, but most brands focus on making e-bikes for teens and adults!
If you want an e-bike that anyone in the family can ride, then the Ancheer 500W electric bicycle is worth a try.
This Ancheer bike is a Class 2 e-bike, so its 500W motor has a maximum speed of 20mph. That’s fast enough to take you anywhere yet safe enough that any member of your family can use it without supervision.
This e-bike’s 48V 7.5Ah Lithium-ion battery is located inside the frame, effectively making it waterproof! Plus, it’s completely hidden, so it makes the design sleek.
That means you can ride during heavy rains without worrying about short-circuiting your e-bike!
This family-friendly e-bike only weighs 40 pounds and can be further folded to save space. The steel frame gives it enough strength to carry a 265-pound person without breaking down.
Choose between several assistance options to find your most comfortable cruising pace.
The Ancheer e-bike utilizes front and rear dual disc brakes so you can quickly stop whenever you need to. Additionally, this e-bike comes with front and rear lights for those who love riding at night.
You can cycle between three assist modes: pure electric, power-assisted, and pure riding.
The Ancheer 500W e-bike is mostly pre-assembled when it arrives on your doorstep. All you’ll have to do is attach the seat and handlebars before you can start riding. Sounds easy, right?
According to customer reviews, the Ancheer e-bike gained popularity among young cyclists and teens. This can be attributed to its simple assembly, low-maintenance battery, and user-friendly LCD. But anyone can ride it!
For less than $500, the Ancheer folding e-bike is definitely a buy.
4. DYU S2 E-Bike
MSRP: Check on Amazon
- Aluminum/Carbon steel frame
- 10-inch tires
- Dual suspension
- Dual disc brakes
- Front and rear lights
- Best For: City commutes, night rides, urban rides
This DYU S2 is a cheap and compact electric bike that works best for shorter cyclists. It stands out from most Class 2 e-bikes in its price range because of its sturdy dual suspension system.
The DYU S2 is powered by a 240W brushless motor mounted on the rear wheel. This motor can give you three levels of speed assistance and a top speed of 15.5 mph. A built-in speed sensor prompts it to engage as soon as you begin pedaling for a much-needed speed boost!
A larger battery capacity means more time to use pedal assist. This e-bike has a removable 360 Wh Lithium-ion battery that can carry it up to 37 miles in electric-assisted mode.
The DYU S2 frame is smaller than most Class 2 e-bikes. You can fold it in just one step, making it one of the most convenient budget e-bikes to bring around urban settings!
Even the smallest bumps on the road can give you a rough commuting experience. To counter that, DYU equipped their S2 e-bike with a dual suspension, an elastic damping seat, and a dual braking system.
The recommended rider weight is up to 265 lbs. If you’re six feet tall and above, you can adjust the seat and the handlebars for more comfort.
Most e-bikes are built for people with longer legs, so the DYU S2 offers a sigh of relief to cyclists who are not that blessed in terms of height. Although, tall people can also ride this e-bike just fine.
5. ANCHEER AN-EB5 Plus Electric Commuter Bike
The ANCHEER AN-EB5 e-bike is built with a carbon steel alloy frame to last for a long time.
MSRP: Check on Amazon.com
- Carbon steel alloy frame
- Dual disc brakes
- 14-inch tires
- BMS smart battery management
- Best For: City commutes, off-road
Ancheer is famous for producing low-cost but highly efficient electric bicycles, and the AN-EB5 Plus is one of them.
Known for its tough 14-inch tires and robust 500W motor, this e-bike can breeze through city streets and climb small hills without losing a screw.
It’s not common to find an e-bike below $500 that uses a 500W high-speed brushless motor. This is where the AN-EB5 Plus gains an edge over other Class 1 e-bikes. You can reach top speed more efficiently using this motor, even if it’s limited to 20mph.
The 48V 7.8Ah Lithium-Ion battery is secured inside the frame for extra protection. Not only are they waterproof, but they’re also safe from overcharge and short-circuiting! A fully charged AN-EB5 Plus can use pedal assist for 18 to 20 miles.
This affordable ANCHEER AN-EB5 Plus e-bike is built durable with its carbon steel alloy frames.
The AN-EB5 Plus is one of the few Class 1 e-bikes in this price range that uses an IPX5 waterproof design. A large portion of its weight is due to its carbon steel frame, making it more durable and balanced during riding.
Despite being bulky, this e-bike folds in a single step and supports up to 265 pounds of weight without sacrificing speed!
The 14-inch tires have outstanding shock absorbency and traction. You can climb 20-degree slopes like a breeze with or without pedal assist.
The recommended height for the rider of this e-bike is between 5’1″ to 5’10”. Don’t worry if you’re taller than that because the seat’s height can be adjusted to your preference.
Although this e-bike doesn’t arrive pre-assembled, the set-up instructions are easy to follow, even for new cyclists. Customer service is also exemplary. Ask them anything about this e-bike, and you’ll get the answer you’re looking for.
The Ancheer AN-EB5 Plus is one of the newer Class 1 e-bikes that cost less than $500, so it’s no surprise that it’s equipped with top-notch components.
6. ANCHEER AN-EB006 Folding E-bike
This stylish-looking ANCHEER AN-EB006 is a foldable e-bike that’s affordable and has decent speed.
MSRP: Check on Amazon.com
- Carbon steel alloy frame
- Collapsible aluminum alloy pedal
- 16-inch tires
- Dual disc brakes
- Best For: Off-road, mountain, city commute
The AN-EB006 is another high-performance e-bike from Ancheer that costs less than $500. This e-bike uses almost all of the components that the Ancheer AN-EB5 Plus has.
The two key differences are the 250W motor and the 16-inch tires. Bigger tires mean less bumpy rides, particularly on off-road terrain.
The Ancheer AN-EB006 is the ideal electric bike for cyclists who want to explore mountain trails without investing in Class 2 or 3 e-bikes.
Climbing a slope is no small task, but the 250W brushless motor of this e-bike can do the job just fine. With a maximum speed of 15.5mph, the AN-EB006 provides sufficient power for a pleasant cruise across backcountry trails.
Pedal-assist is always welcome for long off-road travel, so this e-bike is equipped with a lasting 36V 8Ah Lithium-ion battery. You can travel up to 30 miles on electric-assisted mode or 15 miles on pure electric mode. That’s good mileage for a leisurely ride away from the city!
The ANCHEER AN-EB006 folding bike is an affordable and powerful e-bike.
The AN-EB006 doesn’t match up well with the hardcore mountain e-bikes above its class. However, it can still perform adequately off-road thanks to its reliable components.
The carbon steel alloy frame makes up most of this e-bike’s weight, but for a good reason. Traveling off-road requires a tough structure to support the components without sacrificing the comfort of the rider.
Even so, the AN-EB006 only weighs thirty-seven pounds, which is adequate for a folding hybrid e-bike.
Choose from three speed options to keep your balance on the AN-EB006 as you pedal across uneven terrain while enjoying the view of nature.
Sixteen-inch tires cover the double-layer aluminum alloy wheels. There is enough shock absorption on the e-bike to protect it from bumps and cracks on mountain trails, so you would hardly feel the nuisance!
The Ancheer AN-EB006 is called a hybrid e-bike for a reason. You can either use it on a smooth city road or a rough mountain trail, and it would always perform magnificently!
If you consider the price, the quality of the components, and the excellent customer service of this e-bike, you will find that this is a good purchase.
