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Best Electric Bikes Under $500 – Budget Doesn’t Mean Bad!
[2020 Update]

Compared to a traditional bike, E-bikes can be a serious investment.

But that doesn’t mean you have to resort to a traditional bike and pedal like you’re taking part in the ‘Tour de France’ to get to work on time!

Budget doesn’t mean low quality, it’s all about spending your money wisely. That is why we have made this list of ‘Best Electric Bikes under $500’ for you!
(Product prices are subject to changes and could be higher than the stated price range.)
Best Electric Bikes Under $500

Overview of Best E-bikes under $500

Good things come in small package
ANCHEER AN-EB005 Dolphin Electric Bike
Weight
26.5lbs (12kg)
Pedals
No
Battery Type
Lithium
Material
Aluminum Alloy Frame
Range
12miles (19km)
Top Speed
12mph (19 kph)
Swift as a swallow
ECOTRIC Portable Electric City Bike
Weight
39.9lbs (18kg)
Pedals
Yes
Battery Type
Lithium
Material
Aluminum Alloy Frame
Range
25-120miles* (40-193km)
Top Speed
20mph (32 kph)
Glide like the Qi
Shaofu Folding Electric Bike
Weight
26.5lbs (12kg)
Pedals
No
Battery Type
Lithium
Material
Aluminum Alloy Frame
Range
15miles (24km)
Top Speed
15.5mph (25 kph)
Heavy-weight Champ
TrekPower Folding Electric Bike 250W Lightweight Aluminum Elecctric Bicycle 16
Weight
50lbs (23kg)
Pedals
Yes
Battery Type
Lithium
Material
Aluminum Alloy Frame
Range
20miles (32km)
Top Speed
15mph (24 kph)
Buy on Amazon
Ride in Style
ANCHEER Folding Electric Bike, 16 Inch Collapsible Electric Commuter Bike Ebike with 36V 8Ah Lithium Battery
Weight
37lbs (17kg)
Pedals
Yes
Battery Type
Lithium
Material
Steel Frame
Range
15-30miles* (24-48km)
Top Speed
15.5mph (25 kph)
Buy on Amazon
*Depending on the working model.
Disclosure: As an Amazon Associate cyclingglobal.com earns from qualifying purchases.

The Best City Bikes under $500 Reviewed

Let’s dive into the list and check out the “Best E-bikes under $500”

1. ANCHEER AN-EB005 Dolphin Electric Bike

Good things come in small packages
ANCHEER AN-EB005 Dolphin Electric Bike
Another great product from ANCHEER, a leading icon in the world of E-bikes.

This bike may look small but punches way above its weight class.

With a weight of just 26.5 lbs (12kg) this bike can easily be folded and carried with one hand. It’s ideal for storage or to be carried on the subway. Despite its light weight, it can hold a total load of 265 lbs (120 Kg), that’s 10 times its own weight. This is made possible due to the aluminum alloy frame and dual-layer aluminum on the wheels.

This product from ANCHEER is 100% electric and is a Pedal-less design. The pedals are replaced by steel pegs at the sides to rest your feet making the ride comfortable.

The 350-watt motor and 36V lithium battery can achieve a top speed of 12 mph (19.31 kph) and has a range of 12 miles (19 km) on a single charge, which approximately takes 3 hours or less.

The feature that got this bike on our list is the Bluetooth app supported system. The Android or iOS app can be used to track distance traveled, speed, and time.

It is the ideal choice for level terrain and short distances within the city.

Pros:

• Lightweight
• Easy storage
• Waterproof
• Bluetooth app
• Cruise control

Cons:

• Headlight switch missing (Controlled by app)
• Bike seat cannot be adjusted
• No pedals in case battery runs out

2. ECOTRIC Portable Electric City Bike

Swift as a swallow
ECOTRIC Portable Electric City Bike
Our Pick
This 14” (35.56 cm) spectacle is another foldable yet powerful bike that is easy to carry and store in tight spaces.

Despite its size, it ranks as the second-heaviest on our list, weighing 39.9 lbs (18 Kg) and can carry a maximum load of 220 lbs (99.79 Kg).

The 36V battery can get you cruising to a top speed of 20 mph (32 kph) and a range of 25 miles unassisted and a whopping 120 miles (193 km) with pedaling. The Lithium battery takes between 5-8 hours to fully charge.

Ecotric has made sure that no obstacle can come your way with a Shimano Acera 7 Speed gear system. 7-speed gears will get you across any steep hill in the city unless we’re talking about Mount Everest. 

The 250W motor is strategically placed in the rear, giving it better traction and handling as the weight is distributed on the rear wheel, better traction means the ‘Swallow’ is ideal for uneven surfaces such as gravel or potholes.

Ideal for daily commuting to work.

Pros:

• Easy storage
• 7-speed gear system
• Adjustable seat

Cons:
• Slightly heavier

3. Shaofu Folding Electric Bike

Glide like the Qi
Shaofu Folding Electric Bike
Our Pick
So far all the bikes on our list are foldable and this is another example of one. The lightweight, unique ‘dolphin frame’ can be easily carried or stored. The special frame seals the battery giving this bike an IP54 rating, making it water-resistant. Weighing 26.5 lbs (12 kg), it can carry a total load of 260 lbs (117.93 Kg).

The removable battery usually takes 4-6 hours to charge and drives a 350W brushless motor which can get you to a maximum speed of 15.5 mph (25 kph) and a distance of 15 miles (24 km) on a single charge.

Similar to the ANCHEER dolphin electric bike, this is also fully electric and has no pedals. There are 2 working modes, throttle assisted, and cruise control.
Ideal for short trips around the town.

Pros:

• Lightweight and foldable
• Water-resistant
• Bluetooth enabled App

Cons:

• Lacks suspension

4. Nakto TrekPower 16” E-bike

Heavy-weight Champ
TrekPower Folding Electric Bike 250W Lightweight Aluminum Elecctric Bicycle 16
The heaviest bike on our list, it comes from a renowned name in the E-bike industry, Nakto.

The folding eco-friendly bike can be folded 3 times, making it extremely compact so it can fit inside any storage space. However, it can be a bit of a challenge to carry around due to its weight. 

The 250-watt motor along with the 36V lithium battery helps the bike to reach a top speed of 15 mph (24.14 kph) and a total range of 20 miles (32 km) on a single charge. This can be done by toggling between the 3 riding modes available, throttle assisted, pedal and normal bike mode.

With the largest set of wheels on our list, its 16” (40.64 cm) pair along with the aluminum alloy frame can support a total load of 250 lbs (113.4 Kg).

Pros:

• Foldable
• Adjustable seat
• 3 working modes
• Multiple colors

Cons:

• Comparatively heavy

5. ANCHEER AN-EB006 Folding Electric Bike

Ride in Style
ANCHEER Folding Electric Bike, 16 Inch Collapsible Electric Commuter Bike Ebike with 36V 8Ah Lithium Battery
A unique feature of this bike is the lightweight steel frame. Steel is known to be heavier than aluminum, but the innovative design of the frame makes it lighter than the aluminum frames on our list.

The 250W brushless motor is powered by a 36V Lithium battery that delivers enough torque to tackle challenging climbs. A single charge can haul you between 15-30 miles (24-48km) depending on the working mode, throttle mode, or pedal-assisted. 

Like the other choice from ANCHEER, this too has a Shimano Acera 7 Speed gear system.

Ideal choice for a road or mountain bike, for a weekend outing or daily commute.

Pros:
• Strong steel frame
• Water-resistant
• Foldable
• Adjustable seat handle

Cons:
• The battery might have some flaws, and might not fully charge.

Things To Consider Before Purchasing A (Budget) E-Bike!

cycling

YOUR GOAL

There is an E-bike for everyone out there, but you have to decide what you will be using it for the most. If you like cruising up and about the mountains, then an Electric mountain bike might be your best bet.

But a Road Electric Bike might suit you better if your main priority is commuting to work.

Electric bikes range from cargo hauling bikes, relaxed cruising, mountain biking, child commuting, urban commuting, and many more!

But let’s be frank, for under $500 you can’t expect an electric mountain bike. E-bikes under $500 are mainly for a short distance around the city, but we’ve got a surprise for you off-road enthusiasts. Keep on reading to find out.
cycling

PEDLEC (Pedal Assisted ) vs Throttle vs Speed Pedlec

The first type as the name suggests requires the rider to pedal normally while the motor provides assistance which can accelerate you up to 20 mph (32 kph). This particular type is also called class 1 E-bikes and is considered as a regular bike under the law.

Class 2 E-bikes aka Throttle bikes is similar to a scooter but limits the speed to 20 mph (32 kph) without pedal assistance from the rider. These bikes are legal in some states in the US but are not considered legal on a bike path in many cities, like New York City.

The 3rd kind is similar to Class 1 E-bikes but provides faster speeds, up to 28 mph (45 kph) with assistance from the rider. This class of E-bikes requires the rider to hold a certain type of license or be above a certain age and is not allowed on most bike paths. 

Class 1 and Class 2 E-bikes are associated with lower prices compared to Class 3 bikes which are higher up the price scale.
cycling

BATTERY

This is usually the most expensive component of an “E-bike” and the most important factor when determining the overall performance of the bike.

The battery on an “E-bike” is rechargeable and there are 3 main types:

• Lead-Acid batteries are cheaper, but you pay your dues in weight.

• Nickel-Cadmium batteries are lighter but might affect performance if the battery is drained before re-charging.

• Lithium Batteries are everywhere, and you wouldn’t be surprised if it ended up on your E-bike. This type of battery is the most optimal and the most expensive. Even though lithium batteries are expensive, most bikes nowadays are fitted with lithium batteries, no matter where they are on the price range.

That brings us to the end of our ‘Best Bikes Under $500’ list. If you have any questions regarding E-bikes or if you recently purchased one of the bikes listed above, please leave a comment below!
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