When it comes to affordable new cars, there are eleven 2025 models on the market with an MSRP under $40K. And, car manufacturers are working to bring value priced new EVs to market. 

If you prefer more choices, the used market is bursting at the seams with affordable, modern EVs - many of which are gently used and from very recent years. Today, 35% of used EV listings are below $25K and nearly 75% are below $40K.

So what can you find?

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Best EVs Under $10,000

It’s worth noting that while many of the budget priced options will offer lower range or be older models, they can still fit the needs of most drivers. If you’re realistic about your daily mileage, have a second car and place to charge, you may be able to get by with less range than you think, but none of the headaches of an old gas car. 

Many of the vehicles in this price range will have higher mileage, but luckily - mileage is not everything for an EV. 

Several of these choices are also plug-in hybrids, meaning that they will use available electric range before switching to their internal combustion engine to recharge the battery. If you don’t have very far to go everyday, something like the Chevy Volt can get you around without refilling the gas tank more than a few times a year. Hybrids are also a great option for anyone who has to occasionally make a longer drive or may have surprise soccer pick-ups or grocery runs to make. 

2013 or 2014 Chevy Volt Plug-in Hybrid

  • ‍EPA range: 38 miles electric/ 300 combined
  • Powertrain: plug-in hybrid
  • Fast Charging: not available 

The Chevy Volt, not to be confused with its cousin, the Bolt, is a zippy plug in hybrid sedan that drivers love for its reliability and flexibility. When you’re running daily errands, it’s easy to stay within the 38 mi all-electric range, but you have the option of using the gas engine and extending your trip up to 300 miles.  Many Recurrent drivers report that they rarely fill up the gas tanks on their Volt, making it an affordable yet stress-free way to drive electric.

2017-2019 Chevy Bolt

  • EPA range 238 miles
  • Powertrain: fully electric
  • Fast Charging: capable but slow

The 2017 Chevrolet Bolt won Recurrent’s Best Used EV in 2023 and for good reason. The Chevy Bolt forever changed the market with its 238 miles of EPA rated range at a modest price point. When it came out, only high-end vehicles like Tesla were offering over 200 miles of range. Since all older Chevy Bolts got battery replacements under the 2021/2022 recalls, these are a great find. 

2014 or 2015 Ford Energi C-Max Hybrid 

  • ‍EPA range: 20 miles electric/ 550 combined
  • Powertrain: plug-in hybrid
  • Fast Charging: not available 

This Ford hybrid hatchback boasts great fuel economy - the all electric range is only 20 mi, but goes up to 550 including gas. For those without access to a 220V plug, or those who don’t mind switching to gasoline, the C-Max Hybrid is a great value. It takes only 7 hours to recharge using a standard household plug. It also trades some of its all-electric range for a longer combined range than the Volt, for instance.

2017-2020 Nissan LEAF

  • ‍EPA range: 107-150 miles
  • Powertrain: fully electric
  • Fast Charging: 51 minutes to add 100 miles

The Nissan LEAF is the original mass market all-electrics and its drivers are fiercely loyal. A new 2015 Leaf was rated at 84 miles range, and depending on where a Leaf was stored, it may still get 60-70 miles. However, more recent model years, from 2018 on, got around 150 miles a charge when new and most still get at least 120. That’s plenty for around town errands or a daily driver. They are also great first cars for students or a top budget pick for retirees. 

2020 Chrysler Pacifica Hybrid

  • EPA range: 32 miles all electric/ 520 miles combined
  • Powertrain: plug-in hybrid
  • Fast Charging: not available 

This minivan is not your standard order family car. With 32 miles of all electric range and a ton of technology, it can shuttle you (and your family) around for day-to-day business with no emissions. And, for stress-free longer trips, you have a gas tank.

Best EVs Under $25,000

If your budget goes up to $25K, you start to see some newer models and serious all-electric range. As of May 2025, there are more than 20,000 electric vehicles listed for sale under $25K. 

When looking for a car in this price range, here are a few things to remember:

  • 2021 turned a corner and many of the models you see around this price reflect the long range vehicles that started to hit the market in these years.
  • Don’t worry as much about odometers as you do about age.
  • If you’re going to take road trips or don’t have access to a home charger, consider the charge time. Recurrent uses “time to add 100 miles” as a good metric to compare across brands and battery sizes. 

2022 Volkswagen ID.4

  • EPA Range: 280 miles
  • Powertrain: all electric
  • Fast Charging: 24 minutes to add 100 miles

The ID.4 was the "it" car when it debuted in 2021, but a handful of them are up for sale on the second hand market at very tempting prices. It is roomy, stylish, and perfect for the driver who wants to say "emissions free" without shouting it. 

2018-2022 Tesla Model 3  

  • EPA Range: 220 to 310 miles
  • Powertrain: all electric
  • Fast Charging: 12 minutes to add 100 miles

Everything to say about the Model 3 has already been said. A Tesla from 2021-2023 will have very light battery and range degradation, many years left on the transferrable battery warranty, and access to the top-rated Supercharger network. A slightly older one can be found much cheaper - still with most of its range. 

2023 Nissan Ariya

  • EPA Range: 265 to 304 miles
  • Powertrain: all electric
  • Fast Charging: 25 minutes to add 100 miles

2022 Toyota Prius Prime

  • EPA Range: 25 miles all electric, up to 640 combined
  • Powertrain: plug-in hybrid
  • Fast Charging: not available  

The Toyota Prius was many people’s introduction to hybrid electric vehicles. Unlike the Prius, the Prius Prime is a plug-in hybrid, meaning that the first 25 miles are all electric and zero emissions. 

Best EVs Between $25K and $40K

If you have room in your budget to look at vehicles up to $40K, you open the door to almost 75% of the national used EV inventory, and many new cars. You start to see some slightly older luxury cars - BMW and Porsche plug-ins, Audis and Tesla Xs- as well as some very new mid-priced options. And while there are a handful of new EVs that fall into this price range, shopping used may offer a wider selection of perks and add-ons.

Some interesting finds are:

2023 Tesla Model Y 

  • EPA Range: 240 - 330 miles
  • Powertrain: all electric
  • Fast Charging: 12 minutes to add 100 miles

The Model Y has been the best selling car for a few years now, and there are plenty of them to be found in the used market. Obviously, older model years and lower level trims will be on the lower end of the price scale, but most configurations can be found under $40K.

Incidentally, if you really have your eyes set on a Model X or Model S, slightly older models can certainly be found under $40K.

2025 Chevrolet Equinox FWD or RWD

  • EPA Range: 307 - 319 miles
  • Powertrain: all electric
  • Fast Charging: 16.9 - 17.5 minutes to add 100 miles
  • MSRP: $34,995 - $38,295

Is the Equinox the new Bolt EV? Winner of both Longest Range EV and Fastest Charging EV under $40K, there isn’t much not to love in this affordable new release. 

2023 Hyundai Ioniq 5  

  • EPA Range: 220 - 303 miles
  • Powertrain: all electric
  • Fast Charging: 10.5 minutes to add 100 miles

With its retro-futuristic design, you can’t miss the Ioniq 5 on the road. It offers a smooth ride, plenty of interior space, and cutting-edge tech. It has a blazing fast charge speed, great efficiency, and a lot of style. Higher trims and longer ranges can be found used under $40K. 

2025 Hyundai Ioniq 6 SE Standard Range

  • EPA Range: 240 miles
  • Powertrain: all electric
  • Fast Charging: 8.9 minutes to add 100 miles
  • MSRP: $37,750

While some would prefer getting a used Ioniq 6 with a longer range, the 2025 version is available under $40K. Winner of Recurrent’s Fastest Charging Budget EV and Most Efficient Sedan, it has a lot of accolades to recommend it. 

2022 Polestar 2 

  • EPA Range: 233 miles
  • Powertrain: all electric
  • Fast Charging:

The Polestar was an exciting entry to the EV market and can now be found at perfectly reasonable prices. Polestar is a Volvo offspring, so you can expect minimalist design and a focus on safety. It has a roomy frunk, and some trims are equipped with a glass-top roof.

2024 Jeep Grand Cherokee 4xE

  • EPA Range: 25 miles all-electric, 470 miles combined
  • Powertrain: plug-in hybrid
  • Fast Charging: not available  

Jeep’s plug-in hybrid brings electric driving to the off-road crowd, with 25 miles of EV range and the rugged edge you’d expect from the Grand Cherokee name. It’s a great option for those who want daily sustainability without sacrificing trail performance—or room for the family.

2023 BMW X5  

  • EPA Range: 30 miles all electric, 400 miles combined
  • Powertrain: plug-in hybrid
  • Fast Charging: not available  

Under the radar, BMW sells a lot of electric vehicles, although most of them in the US are hybrids. However, the stylish BMW plug-ins get the full luxury treatment, with plenty of power, handling, and a battery that you can recharge with a 110V plug.

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Note: while other new EV options are available under $40K, we recommend looking at gently used versions of the LEAF, Solterra, bZ4X, Kona and Mustang Mach-E. Used models of these cars will offer a bigger battery pack, upgraded trim levels, or a better price.