Electric bikes are usually expensive due to the batteries that have been installed in them. However, not everyone has a high budget for an expensive electric bike. Does that mean you can’t buy an electric bike? NO.

The answer is, yes, you can always have an electric bike purchased at a low price but it might have some features missing. However, it will fulfill the basic requirements which are most important for a bike. Consider some of the Best Cheap Electric Bikes Under $500 of 2018 in the review below and get yours.

Swagtron SwagCycle E-Bike Folding Electric Bicycle Review



  • Convenient and fun to use
  • Brake light
  • Lightweight
  • Ultra-bright with great visibility
  • Electric powered


  • Not comfortable for tall riders

The Swagtron SwagCycle Foldibg Electric Bike one is a great bike for the young kids. It has a unique design unlike the other bicycles. Made from a strong frame and built with exceptional quality spare parts, this bike will never have an issue even after a long period of time. It comes with an amazing folding mechanism as well which makes it easier to store and transport it.

This is a small electric bicycle which is why the maximum speed is 10 miles per hour and it can run for a maximum of 10 miles on a single full charge. Because it is made for the kids, you will find this speed and maximum distance as fair. The cycle is environment-friendly as it is free from emission.

Ancheer Folding Electric Bicycle with 15 Mile Range Review



  • Can hold riders to 256-pounds
  • Sturdy and lightweight
  • Compact design
  • Easy to assemble
  • Foldable, space saver


  • Not meant for harsh terrain

Another great e-bike for both young kids and adults is the Ancheer Folding E-bike which has a maximum 15 miles range. It is best for experiences at the sandy beaches. Each part has been crafted and assembled with careful precision. This is one reason why this bike has a premium quality.

This Ancheer folding e-bike is equipped with rear and front lights hence making it visible for safety. However, keep in mind that it is not made for the mountainous terrains and it will only be useful on the plain areas. Its stylish and unique design makes it different and better from other bikes.

Goplus 20-Inch 250W Folding Electric Mountain Bike Review



  • Front light offers visibility at night
  • Foldable, space saving design
  • Superior comfort with premium shock absorbers
  • Adjustable seat
  • Includes charger and approved UL


  • Pedals offer an un-smooth ride

The Goplus 20-inch is a good bike for the young ones. Being easily transportable due to the folding mechanism, you can have this bike according to your comfort requirements. The best part is that it can run for a maximum of 25 – 30 kilometers which is a great distance on a single charge.

The best thing is that there is quick –release clamp which helps a lot in assembling a bike. With the front fork suspension, it absorbs maximum shocks and easily helps the rider in getting maximum control of the bike.

Goplus 22-Inch 250W Electric Mountain Bike Review



  • Improved safety with front V brakes
  • Approved UL charger guarantees safety
  • Quick release for easy assembly
  • Great for mountain or sport cycling


  • Chain needs to be maintained
  • Handlebars known to loosen over-time

Another one by Goplus but slightly bigger than its predecessor is this 22-inch electric bike which runs at a maximum of 35 kilometers per hour. It can run for 27 kilometers at one single charge which is a good speed for starters or young learners. The quick-release helps in easy assembly.

Choose the color as per your desire from black and white. It has an Iron Frame+ Aluminum Alloy Hub which means that it is as strong as iron and as lightweight as aluminum making it the super best choice for any type of rider. The maximum user weight limit is set at 350 pounds. More than that you can fully adjust the seat so that it becomes best fit for you.

Goplus 26-Inch 250W Electric Bicycle Review



  • Front light improves visibility
  • Adjustable, soft seat
  • Removable battery
  • Can slope to less than 15-degrees
  • Durable rear rack


  • Only available in one color
  • Some users have noted speedometer is off

Usually, e-bikes come with lithium ion batteries; however, this one is a unique one since it has a lead acid battery which is even better for riding electric bicycles. These batteries don’t lose charge easily and helps in running the bike at a maximum of 35 kilometers per hour which is a great speed.

For this high speed, we would not recommend that children or young learners use this bike. Also, it has a 26-inch tire which is made for adults. The original height of this bike is 42” but due to adjustable saddle height, one can select the height best fit for them.


Coming down to the main point, the Best Cheap Electric Bikes Under $500 of 2018 is a list of some of the top-notch bikes of 2018. If you are also interested in having one, then you should choose the one which suits your requirements and get it from amazon.com at a cheap price.