#1 1
2026 Tesla Model 3
$36,990 starting MSRP · 363 mi EPA range
363 miles of EPA range for $36,990.
Full specs →Database / Best EVs / Best EVs under $40,000
The best electric cars under $40,000
Forty thousand dollars is the heart of the EV market — long-range crossovers, the Model 3, and real choice. The 10 longest-range EVs under $40K, ranked by EPA range with verified prices. Updated October 2026.
#2 2
2026 Tesla Model Y
$39,990 starting MSRP · 357 mi EPA range
357 miles of EPA range for $39,990.
Full specs →#3 3
2025 Hyundai Ioniq 6
$37,850 starting MSRP · 342 mi EPA range
342 miles of EPA range for $37,850.
Full specs →#4 4
#5 5
2026 Ford Mustang Mach-E
$37,795 starting MSRP · 320 mi EPA range
320 miles of EPA range for $37,795.
Full specs →#6 6
2026 Chevrolet Equinox
$34,995 starting MSRP · 319 mi EPA range
319 miles of EPA range for $34,995.
Full specs →#7 7
#8 8
2026 Hyundai Ioniq 5
$35,250 starting MSRP · 318 mi EPA range
318 miles of EPA range for $35,250.
Full specs →#9 9
2026 Toyota bZ
$34,980 starting MSRP · 314 mi EPA range
314 miles of EPA range for $34,980.
Full specs →#10 10
2026 Honda Prologue
$39,900 starting MSRP · 308 mi EPA range
308 miles of EPA range for $39,900.
Full specs →Questions, answered
What is the best EV under $40,000?
Ranked by EPA range, the top of this list wins on paper. For most buyers the real decision is crossover vs sedan — compare the top three side by side.
Is $40,000 a good budget for an EV?
It’s the sweet spot: 22 fully electric models start at or under $40K, most with 250+ miles of range. Below this you’re choosing from 7 cars; above it you’re paying for luxury or performance.
What incentives apply under $40K?
The federal credit is gone, but state incentives hit hardest in this bracket — Massachusetts offers $3,500 on new EVs under $55K, Delaware $2,500 under $50K. Enter your ZIP in the incentive calculator.
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Free forever. We never sell your email.Specs: U.S. EPA via fueleconomy.gov, model years 2025–2027. Prices are verified starting MSRP before destination. Towing and 0–60 from manufacturer-published figures.