Best Electric Bike Under $500 | 2021 Budget e Bikes Reviewed

Best E Bike under $500 | Are You Confused? Here Is Solution.

Cycling is fun and healthy too. With the rise in traffic and fuel prices, it is now becoming a necessity. According to Forbes, people are cycling more than ever, since monitoring began. The daily average cycling in London is now over 4 million Kilometers, with other cities following suit.

What Is The Best Electric Bikes For Under 500?

  1. ANCHEER 16'' - Best Electric Bike For $500
  2. SWAGTRON SwagCycle - Best Folding Electric Bike Under 500
  3. ANCHEER an-EB5 Plus - Folding E bike under 500
  4. Macwheel 16" - Best Commuter E bike Under 500
  5. Shaofu Electric Bike - Best Budget Electric Bike Under 500
  6. Goplus 20'' - Cheapest Electric Bike

The problem is that the manual pedals of the typical traditional bikes are tiresome. You require extra effort to pedal through long distances. Well, in this era of advanced tech, there is always a smarter, easier alternative.

I’m talking about electric bikes. Electric bikes are some of the best, modern, fashionable rides you’ll come across. They feature automatic pedal assist system and can ride through long distances effortlessly.

The best electric bike under 500 dollars is the ANCHEER Folding Electric Bike. It features everything you would want in a low-budget e bike. Its design is unique, has a lightweight frame for easy transportation and is durable to last you long. Charging it fully will take you less than 3 hrs, and has a maximum speed of 25km/h.

But the race is tight and there are other incredible options to consider. Check out my list for the best electric bikes under 500 dollars.

Electric Bikes Under 500 | Reviews and Recommendations

ANCHEER Folding 16'' City Electric Bike

ANCHEER Folding 16'' Electric Commuter Bike


  • Has a powerful motor
  • Fast charging
  • Compact and lightweight
  • Waterproof
  • lithium ion battery


  • Unsuitable for trekking and hills

With more than 50 years of existence in the game, ANCHEER is an iconic brand in the bike industry. It’s famous for some of the sturdiest and sportiest bikes the industry has seen. One such example is the ANCHEER FOLDING Electric Bike.

The ANCHEER Folding 16'' City Electric Bike is a perfect match for people crazy enough to ride even in rainy weather. The manufacturers incorporated the IPX5 waterproof technology in this e bike, making it super easy to maintain in terrible weather conditions.

The design of this e bike is of the dolphin and is made using aluminum alloy frame. It is very lightweight that you can carry it with only one hand. It’s also compact and should fit in small trunks without any problems.

The bike has a Bluetooth system to connect to your smart device. You can monitor its speed, battery life, mileage, riding duration and even self-test on the handlebar display. As if that’s not impressive enough, you can also lock the bicycle using your smartphone.

There is a 36V 6Ah Lithium battery and 350 Watt motor on this bike. The battery’s full charging cycle takes less than 3 hours. Its top speed ranges between 20 and 25 km/h. Lastly, there is a one-year warranty for the charger, battery and electric motor.

Who is this bike for? No one is limited from enjoying the benefits of ANCHEER Folding Electric Bike.

Girls, boys, men and women are all welcome to try it out. Similarly, the level of expertise doesn’t matter. However, beginners trying to work their way to the top of the game will find it most useful.

My verdict? One ride with this bike and you'll easily conclude that it's one of the best electric bikes under 500 dollars.

SWAGTRON SwagCycle E Bike

SWAGTRON Swagcycle EB-5 folding electric bike


  • Compact and foldable design
  • Features a USB port for charging your devices
  • No pedaling technology that makes riding it effortless
  • lithium ion battery


  • Slightly heavy

SWAGTRON SwagCycle E Bike scoops our award for the best design E bikes. Its design is out of this world – more of a futuristic sci-fi movie. The e bike is made using high-quality components and fitted with safety gear for an unforgettable riding experience.

The first thing to notice with the Swagtron SwagCycle EB is its compact design. Its aluminum alloy frame is sleek, elegant and more importantly foldable.

This makes transporting and fitting the bike in trunks very easy. The bike is slightly heavy, but that's what to expect from its heavy-duty construction material.

The handlebars are fitted with a screen that displays the battery life. There is also a USB port for charging your smart devices. It has a horn, a powerful accelerator and a headlight for safe riding in the dark.

Aside from the design, the powerful motor and battery of the electric bike are also another huge turn-on. It features a 36-volt battery and 250W power motor.

The battery comes with its charger and will take up to 2.5 hours for a full charging cycle. This should last you up to  10 miles.

This electric bike is fully automatic, thanks to the 'No-pedaling' tech added to it. You'll use absolutely zero human force to pedal it, making your ride effortless. Cool, right? And as if that's not enough, the bike comes with a one-year warranty on all manufacturing defects.

ANCHEER an-EB5 Plus Folding E Bike

ANCHEER an-EB5 Plus Folding Electric Bike


  • Foldable, compact and easy to carry
  • Strong and durable
  • Had 3 riding modes
  • 21-speed gear transmission


  • Difficult to assemble

The company that gifted us the ANCHEER Folding 16'' City Electric Bike is also responsible for the ANCHEER an-EB5 Plus Folding Electric Bike – proof of how good ANCHEER Limited is.

Like most of their creation, this e bike is outstanding with lots of impressive features. Carry it as a date for all your mountainous trips and make use of its gears and brakes.

Its body is made of double-layered aluminum, lightweight yet strong. The fork is of carbon steel whereas the handles are of aluminum alloy. The bike is compact, foldable and easy to carry.

Aside from the design, this bike has three riding modes. It can be used as an electric bike, a manual bike, or assisted. Pairing the two (assisted mode) is excellent for exercises and long routines. There is a meter operator at the bike's handle for changing the modes.

What of the mileage? Its mileage is roughly 15 to 30 miles, with a gear motor that helps you maintain a speed of 15mph. It features a 36V 8Ah Lithium battery that comes with a smart charging system.

You can adjust the speed to your preference using its 21-speed transmission system. It has two disc brakes, one at the front and the other at the back. There is also an LED headlamp and horn for smooth rides at night.

It’s important to note that the bike is slightly difficult to assemble. To save yourself the hassle, you can request an assembly service during purchase, free of charge. But you’ll pick the bike from the store.  Finally, this bike has a one-year service warranty for the battery, charger and motor.

Macwheel 16" Electric Bike

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  • Comes when pre-assembled
  • Lightweight and easy to store
  • Relatively comfy


  • Lacks the rear and front suspension
  • Doesn’t have a removable battery

I was a bit hesitant to test this bike out at first, and honestly, I am totally ashamed of it. Let not its simple design fool you. Considering the price, the performance of this bike is incredible, aside from the design of course. But looks are subjective.

Coming out of the box, the bike comes pre-assembled. You only need to unfold the handlebars, tighten a few screws and make minor adjustments and you’re good to go.

The frame design is a simple one consisting of aircraft-grade aluminum, a collapsing handlebar system, front and rear fenders, mechanical disc brakes and an LED integrated light.

The brake performance pleasantly surprised me. They are very effective. Most heavy and high-speed e-bikes feature hydraulic brakes, but the mechanical on this one is relatively okay.

The bike isn’t fully foldable since it doesn’t fold in half. However, its stem is foldable and the seat can be lowered or removed to fit into small spaces vertically. Transporting it, thereby, doesn’t pose much of a problem.

While this bike lacks the rear and front suspension, it is fairly comfortable. I rode it over rocky, wet and squishy terrain and it felt good. Of course, it would have been much better with suspension, but there are no much complaints there.

The bike has a 250-watt motor, and its battery takes 4 to 5 hours to fully charge, which is a slightly longer than other electric bikes in this review. To make up for this, its mileage is 37 miles. This is what the manufacturer claims. I could only do 15 to 18 miles with it.

Overall, the bike is great for the money. Its components are decent and get the job done. If you are tight on budget but still want quality, Macwheel 16" Electric Bike is one of the best electric bikes under 500 usd you can settle for.

Shaofu Folding Electric Bike

shaofu Folding Electric Bike


  • Foldable for easy storage
  • Smart app for connecting with a smartphone
  • Eco-friendly and waterproof


  • Unsuitable for rough tracks

Where do I even begin; its 100% electrical, zero charge emission or foldable frame?

Its removable battery or app support system? Whatever the starting point, Shaofu Folding Electric Bike can't cease to amaze. This is easily one of the best e-bikes you'll come across today.

The design of this bike is dolphin-inspired, making it unique and fashionable at the same time. It features a double-layered aluminum wheel and aluminum frame. The frame is lightweight, weighing a mere 12 kg. Moreover, the system is easily foldable for easy storage and transportation.

The seat is super comfortable and easily adjustable. You should be able to ride with it long distances without any discomfort. The bike also features a horn, front headlight and braking taillight for safe riders at night. Its rear disc brakes are effective and reliable.

This bike comes with a 36 volt, 8 Ah Lithium battery with smart charging. It will take you only 3 hours to fully charge it, which should last between 25 and 50 km, depending on your speed. There is also a 350-watt power motor.

The manufacturers included an app supporting Bluetooth system (above Android 4.3 and iOS 8). You can set your desired speed, check your mileage, time-record yourself and motor lock. The bike has a one-year warranty for its motor, battery and charger.

If you won't like this bike for its design, then you’ll love its performance. For its price, this bike is a huge bargain.

Goplus 20'' Folding Bike

Goplus 20'' Folding electric Bike


  • Powerful and highly responsive brakes
  • Slip and weather-resistant tires
  • BS reflector for safety at night


  • Requires manual pedaling in mountains

Last but not least on my list is the Goplus 20'' Folding Bike. The features of this bike make it best for short mountain trips and traveling. Invite your bike buddies and have the best mountain rides of your life with this bike.

A couple of features make this possible. Its frame is made using 100% aluminum alloy while the front fork is of heavy-duty carbon steel. These ensure that the bike is powerful enough to take on any challenge coming its way.

The manufacturers emphasized more on safety during the design phase. Overall, the bike is very secure with minimal chances of an accident occurring. Its wheels and pedal have a BS reflector to indicate your presence when riding at night.

Moreover, its tires are made of high-end rubber that makes them strong and durable on rough and wet roads. You will less likely slip and fall.

Goplus Electric Bike has a 7-speed Shimano transmission handle that allows you to switch between different speeds during your ride. Its handles and seats are adjustable with a flip and fold lever that helps riders adjust the bike to their comfort and height levels.

Lastly, this electric bike is equipped with powerful front and rear V brakes. They are highly responsive and shorten the braking distance. This makes them very efficient.

Note that this bike is shipped when 98% assembled. Upon arrival, you'll have to assemble the wheels to use them. This is a simple task that won't consume much of your time.

Buyer’s Guide: How to Choose the Best Electric Bikes Under $500

There are so many e bike options in the store that may overwhelm you into making the right decision. That's why you need to understand a few essentialities of your bike before making your purchase. Here are a few of them.

Read To Know About best electric bike under 1000

Electric Bicycle - Frame and Adjustability

Many of us use our e-bikes as regular means of transport through all terrains and weather. We also carry all sorts of luggage with us. The durability of the bike, thereby, becomes a very important factor to consider. And this is determined by the bike’s frame.

Aluminum is the best durable material for constructing the bike frame. Forks, wheels and hubs are made of equally durable material such as carbon-metal.

Not all e bikes are structured for a specific height. It’s best to go for those with adjustable seats and handles. This way, you’ll enjoy your ride without any fatigue.

It also becomes important if you’ll be sharing your bike with someone of a different height from yours. Sharing is caring.

Electric Bicycle - Mileage

This is the average distance that your electric bikes will cover. It helps to determine the quality of the motor and battery's capacity. Electric bikes with excellent battery and high-powered motors guarantee a long mileage.

The bike’s mode also affects its mile range. If your bike is fully electric, then the mileage will vary. The assist mode is recommended for better mileage. When you pedal, you are covering longer distances while using your battery efficiently.

Electric Bicycle - Safety

An E bikes is an everyday vehicle for frequent users. Similar to a vehicle, you need to ensure that the safety systems are in place before embarking on your journey. These include the brake system, horn, and front and back headlights.

Try to go for electric bikes with waterproof battery coverage so as to avoid electrocution. Also, check that the shock absorption structure is in place and that it is functioning properly. This helps to prevent physical injuries when riding through rough and bumpy surfaces.

Look for anti-slip built-in tries for preventing slips on rough and wet roads. Cautious riders will also replace tires in their favorite models for better riding experience.

Some bikes feature the locking system. This is important in preventing theft. You can leave your bike any place without  any worries or tension.

Electric Bicycle - Portability

For easy transportation of your e bike from one place to another, settle for portable and lightweight e bike options.

Search for electric bikes less than 40 pounds (18 kg) that you can carry easily to any desired location. For instance, the ANCHEER Folding 16'' City Electric Bikes in my review list is so light that you can carry it with only one hand.

Also, go for a foldable bike. Foldable electric bikes are compact and take less space than the standard bikes. You can store them in trunks and houses easily.

 Electric Bicycle - Technology

Most e bikes will feature Bluetooth connectivity and LCD Monitors. These will help you to monitor your distance covered, speed, and long-run battery level. You can even connect and charge your smartphone using a USB cable.

Here is our pick of best ebike under 2000


What is the best and cheapest electric bike?

ANCHEER Folding 16'' City Electric Bike is the best electric bike under 500 on my list. Its design is unique and performance even more impressive. It is packed with lots of features, making it ideal for beginners looking to work their way to the top of the game.

How fast does a 500W e bike go?

A 500-watt motor will go at a maximum speed of 20 miles per hour. In comparison, a 250-watt motor has a top speed of roughly 15 miles per hour.

A big difference between the two is the ability to go uphill. It’s easier with the 500-watt motor as it has more power. More power translates to more speed.


There you go; a total breakdown of the best electric bikes under 500 – from the best electric bicycles in the market to a buyer’s guide.

The fact that you are tight on budget doesn’t mean that you can’t enjoy the fun ride of electric bikes.

Choosing electric bikes under 500 shouldn’t be a one-second affair. Although our recommended choice is the ANCHEER Electric Bike, you still have other options. There is no wrong choice. Go for a bike that is tailored for your needs.

Last update on 2022-04-07 at 23:15 / Affiliate links / Images from Amazon Product Advertising API

About the Author Daniel Atlas

With Rydoze, I just want to share my experiences and help you along on your cycling journey. I’m putting the answers to all of your biking questions in one place. From the most basic to the advanced. You’ll find the information you need.

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