5 Most Affordable New EVs to Buy in 2025

As 2025 approaches, the electric vehicle (EV) market is brimming with potential for prospective buyers. After a period of shortages during the pandemic, the supply of EVs has increased, as has the array of models available. Prices are on a downward trend as supply rises and new models enter the market. 

When evaluating the affordability of an EV—especially alongside their internal combustion engine (ICE) counterpart —there are several financial considerations beyond the initial purchase price. These factors can help justify the higher upfront investment in an electric vehicle.

Things to Consider

Fuel Costs

The cost of fueling an electric vehicle is generally lower over the life of the vehicle compared to an ICE vehicle. How much lower? That depends on whether you charge at home or use public charging stations.

Maintenance

EVs cost significantly less to maintain and repair than ICE vehicles. There are no regular oil changes, and much of the other typical maintenance isn’t necessary. However, costs for tires and other parts still apply.

Depreciation

Recently, electric vehicles depreciated more rapidly than their ICE counterparts, due in part to Tesla dropping their vehicle prices dramatically and greater availability of EVs on the market. If your driving needs might change—whether due to a move, expanding family, or a new job—or if you plan to upgrade within the next three years, leasing rather than buying an EV could be a more economical choice.

Charging Infrastructure

If you plan to charge your electric vehicle at home, consider the cost of installing a home charging station. The expense includes not only the charger itself but also potential upgrades to your home's electrical system. Recent estimates suggest that running wires to a charger can exceed $2,000, excluding any potential necessary panel upgrades or rebates. Consulting an electrician can help assess your specific requirements and provide an accurate estimate.

Federal Tax Credits

If an EV qualifies for a federal tax credit, it can reduce the overall cost significantly. Use FuelEconomy.gov to confirm whether your intended purchase qualifies or as a way to start your search for a more affordable electric vehicle option. Always confirm eligibility with the dealer before buying.

With these considerations in mind, here are five electric vehicles worth exploring for your next car purchase.

Nissan Leaf

Starting MSRP $28,140

The Nissan Leaf was arguably the first commercially successful electric car on the market. Great for anyone looking for a small car—which can be challenging to find in the current EV landscape—the no-fuss hatchback offers a comfortable driving experience and two trim levels.

The attractive price point has several significant tradeoffs: one of the lowest estimated ranges compared to other EVs in its class, slower charging, and limited public charging options thanks to the nearly obsolete CHAdeMO charging system. 

For someone who works from home and doesn’t drive much, the entry-level S trim's range of 149 miles might be an attractive option in an effort to save money on the car purchase overall. But if that just isn’t enough of a range, the SV trim offers a larger battery with an extended range of 212 miles, still below some of the electric cars entering the market, but more doable for daily drivers. 

Given the slower charging and limited public chargers available, charging at home when not in use is critical to ensuring this hatchback would be a good fit for your driving needs. Complete with standard automatic emergency braking and blind spot warning, it’s a great entry-level option for anyone dipping their toes into electric vehicles, those who have a second car to use when the Leaf wouldn’t be great, and/or those who don’t do much driving.

Hyundai Kona Electric

Starting MSRP $32,875

Don’t be fooled by Kona’s entry price; the electric version starts at nearly $8,000 more than Kona's lowest trim price of $24,350. And yet, given the current offerings, it’s an affordable, albeit noisier inside than many EVs, subcompact SUV. Two battery options are available: The base Kona electric is outfitted with a 200-mile range battery, while two of the remaining three trim levels have an extended range battery that’s standard with a 261-mile range. The N line, which is new for 2025, had 230 miles of range.

The Kona Electric was refreshed and upsized a bit in 2024. It offers a suite of standard safety features, including blind spot warning, automatic emergency braking, lane departure warning, and lane keeping and centering assistance. Inside, it balances big screens and functional buttons with an extended screen stretching from in front of the driver across to where an infotainment system screen would end and buttons for HVAC control beneath it. All-wheel drive is not available in any trim.

In addition to its extensive warranties, this SUV purchase includes a 3-year/36,000 maintenance package, which covers tire rotations and multi-point inspections, but not much else, given the electric car's minimal maintenance requirements.

Chevy Equinox EV 

Starting MSRP $34,995

Small SUVs dominate the affordable EV options, given the limited number of sedans on the market as a whole, and the new Chevy Equinox EV is no exception. 

The Equinox EV offers a single battery option, with its EPA-estimated range varying on whether you buy the front-wheel or all-wheel drive version. The all-wheel-drive (AWD) version provides a range of 285 miles, while the front-wheel-drive (FWD) model extends this to 319 miles.

Standard features across all trims include automatic emergency braking, and lane departure warning with lane-keeping assist. An advanced hands-free driving feature, known as “Super Cruise,” is available as an optional upgrade. The HVAC system is operated via traditional buttons and knobs located just below a large infotainment screen.

When selecting a trim, be aware that the base model only includes manual-adjust front seats, though it does include heated seats. Outside heated mirrors are available with the Convenience Package or Convenience Package II, and heated wiper blades are available with Convenience Package II. Complimentary maintenance is included for one visit within the first 12 months.

Subaru Soltera

2024 Model Starting MSRP $44,995

The Subaru Soltera isn’t the top-rated electric car on the market or even in its class. Still, its historically excellent leasing terms have made the small SUV an attractive option for shoppers who prefer to swap cars a few years down the line. 

Built on the same platform as the Toyota bZ4X—although with standard AWD—the Soltera offers a relatively low 222-227 mile EPA estimated range. It’s slower to charge on a level two home charger, but if you’re charging it at night while sleeping, this likely won’t partially impact your experience. 

The Soltera doesn’t quite look like you’d expect a Subaru to look, thanks to the partnership with Toyota to develop the car. The car comes equipped with paddles mounted behind the steering wheel that allow you to adjust the regenerative braking while driving to customize your experience. 

Standard safety features include emergency braking, adaptive cruise control with a low-speed hand-free mode, a new-to-Subaru 360-degree camera system (standard on Limited and Touring trim), and lane-keeping assist. If you choose the Limited trim, the Soltera will include heated front seats and steering wheel, larger wheels, rain sensing wiper blades, a power liftgate, navigation, and more.

Ford F-150 Lightning

2024 Starting MSRP $57,090

Ford clearly leaned into its history of building workhorse trucks and the acclaimed legacy of the F-150 when developing the electric version. One of the more comfortable-riding trucks on the market—electric or ICE—the Ford F-150 Lightning is the electric pickup truck designed for the masses. The ride is improved by the independent rear suspension with coil springs, a feature not commonly found in pickup trucks, and the quiet of an electric vehicle, resulting in an enhanced driving experience.

The F-150 Lightning can tow up to 10,000 lbs, which, while necessary and expected in a pickup truck, will significantly reduce its range. Inside, you'll find a quiet, comfortable cabin with room for five and ample legroom for rear passengers, although the headroom is comparatively less. The front trunk provides additional storage space and charging outlets. 

Opting for the extended-range battery increases the EPA's estimated range of 240 miles by an additional 60-80 miles. Moreover, the pickup can be utilized as a home generator in case of an emergency.

Looking Forward

More affordable electric vehicles are on the horizon, including the Kia EV3 (expected in 2025), Volvo EX30 (expected in 2025), the redesigned Mini Cooper Electric (expected for the 2027 model year), and others. If new EV pricing is more than your budget allows for, consider buying a slightly used electric vehicle for significant savings.