Early electric cars were pricey, but there are now loads of sensibly priced options on the new and used markets.
A £40,000 budget presents you with plenty of choice among battery-powered cars. There are several talented EVs available brand-new for less than that, or you could shop nearly new cars to see a selection of more luxurious models.
We've chosen 10 of our favourite EVs on offer for less than £40,000. Check Motorpoint's selection of nearly new and used electric cars to see how much you could save.
Tesla Model 3
At the time of writing, the recently updated Tesla Model 3 can be ordered new in the UK for a smidgeon under £40,000. That figure only buys you the rear-wheel-drive model with the smaller battery, but this supposedly 'entry-level' setup will still beat most hot hatches in a drag race and claims a range of 318 miles. It might not be as new as some other picks on this list, but the ultra-minimalist cabin still looks fresh today and there's a huge amount of passenger and cargo space within its fairly compact footprint.
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Kia Niro EV
The latest Kia Niro has new-found chiseled good looks on the outside and a modern-looking geometric cabin within. Clever battery tech means new models only need a 65kWh pack to manage a range of more than 280 miles, all available for just less than £40,000. Kia's avoided the path followed by other manufacturers and left some actual buttons in the cabin for key climate control functions – even if they are touch-sensitive buttons – which are easier to use on the move than a touchscreen.
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Skoda Enyaq
The Skoda Enyaq is another EV that just slips under our £40,000 yardstick as a new purchase, although you will be confined to the entry-level battery, motor and trim option. That's hardly a penalty in the Enyaq, however, thanks to the car's generous standard equipment list, effortless performance and enormous, cave-like cabin. Driving range for this version stands at a fairly average 249 miles but standard-fit 120kW charging means you can recover an 80% charge in just 35 minutes on a public fast charger.
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BMW iX1
There's something quietly impressive about the BMW iX1. It takes parts, batteries and motors already employed across several of the brand's models but blends them into a compellingly complete package. There's a large cabin with loads of space for passengers to stretch out, while the car itself doesn't actually take up that much space on the road. You'll need to shop nearly new examples to find one under £40,000 but, considering the car launched in 2023, it'll still feel like a brand-new model from behind the wheel.
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Hyundai Ioniq 5
Entry-level Hyundai Ioniq 5 cars haven't yet dropped below the £40,000 mark but, with the model having been on sale for a little while now, you'll be able to find plenty of nearly new examples. It's worth doing too, because its oddball part-hatchback-part-SUV styling hides a truly enormous cabin with luxury-car-levels of rear passenger space. Hyundai's latest cabin design looks great with crisp graphics on the infotainment system, funky dashboard styling and even an on-board white-noise generator to help rear-seat passengers drift off to sleep.
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Renault Megane Electric
If you're still thinking of the Renault Megane as a Golf-sized family hatchback, you need to get with the times! The model is now a handsome electric SUV with a seriously posh cabin and excellent practicality considering its small overall dimensions. Prices are quite a bit steeper than its predecessors thanks to its clever new battery technology, but £40,000 will still put a new example on your drive. Range stands at a respectable 280 miles and on-board fast charging means you can recover up to 186 miles in just 30 minutes.
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MG4 XPower
The standard MG4 is already a very impressive car, but with a focus on affordability, it isn't really on our radar with a £40,000 budget. That said, the MG4 XPower might be worth a look because what this model lacks in badge appeal, it more than makes up for with performance. Two motors mean all-wheel drive and a massive 435hp which, in a car as compact as the MG4 means a 0-62mph time of 3.8 seconds – faster than some so-called supercars. All this plus a 239-mile range is available brand new for less than £40,000.
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Ford Mustang Mach-E
Like the Model 3 above, the Ford Mustang Mach-E has actually been on sale a few years now, so there are lots of great value options on the used market. Whatever you think about this battery-powered SUV borrowing the name of Ford's iconic muscle car, there's no questioning its performance and handling. The Mach-E feels like a bit of a hooligan when you drive it hard, with the nose lifting to the sky under hard acceleration and seriously agile handling if you throw it at a twisty road.
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Mercedes EQB
With a desirable three-pointed star on the nose and an expensive battery pack slung underneath, the Mercedes EQB only comes in under budget if you shop nearly new and used examples. It's worth doing, however, because it has both the top-drawer interior trim and tech found on the GLB SUV, as well as the same practical cabin, making it more useful than the smaller EQA SUV. All versions include Mercedes' punchy motor and battery tech for strong, silent acceleration and a range of at least 250 miles.
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Audi e-tron
Why not take that £40,000 budget and really put it to work? The Audi e-tron – now called the Q8 e-tron – was the brand's first electric SUV and is a big, luxurious model aimed at Range Rover Sport and BMW X5 buyers. It'd be fair to say the e-tron struggled as a new car thanks to high prices and somewhat mediocre range performance, but that means it's now an absolute bargain for used-car buyers. Shopping e-tron examples that are just a few years old means you could get a full-blown luxury EV for the price of a regular premium model.
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Find a great-value electric car
Buying a nearly new or used electric car from Motorpoint means avoiding much of the car's initial depreciation. If you have a slightly more generous budget to work with, check out our picks for the best electric luxury cars.
