By Andrea Hargraves 
Forbes magazine prepared a study on the least expensive electric cars in 2023, and discovered the 10 most economical electric cars.
The most affordable electric cars in 2023 and how much less you’ll pay each year
If you’re thinking about buying an electric car, keep reading this article and find out what are the most affordable electric cars in 2023, according to Forbes magazine.
The study presents the most affordable electric cars, for those who have a balanced budget and intend to choose the leasing method, which is called “leasing”. This is an option that is increasingly being chosen by individuals who want a new car, without having to invest a large amount in purchasing it.
Hey Study conducted by Forbes magazine, focused on the 20 most popular electric cars in the UK, based on the average new car lease price, on a 48-month contract and 5,000km per year. Conditions that allowed a study to be conducted with interesting results.
Parameters used to analyze the 10 most affordable electric cars
In this study, Forbes analysts used the following criteria:
- Annual rental cost (broken down monthly);
- Annual cost of insurance;
- Rental service costs;
- Annual battery charging costs.
Please note that this data is taken for the British (United Kingdom) market.
| Electric car model | Annual rental cost | Annual insurance cost | Annual shipping cost | Service cost | Total costs | |
| 1 | Fiat 500e | 4,714 euros | 579 euros | 522 euros | 134 euros | 5,950 euros |
| two | MG ZS EV | 4,517 euros | 637 euros | 685 euros | 230 euros | 6,071 euros |
| 3 | Nissan leaf | 5,351 euros | 868 euros | 608 euros | 207 euros | 7,035 euros |
| 4 | MG 5 EV | 5,560 euros | 810 euros | 634 euros | 139 euros | 7,144 euros |
| 5 | Small tram | 5,949 euros | 752 euros | 591 euros | 225 euros | 7,520 euros |
| 6 | Volkswagen ID.3 | 5,796 euros | 926 euros | 600 euros | 225 euros | 7,549 euros |
| 7 | Kia e Niro | 5,685 euros | 1,158 euros | 582 euros | 127 euros | 7,553 euros |
| 8 | Renault Zoe | 6,394 euros | 695 euros | 565 euros | 156 euros | 7810 euros |
| 9 | Hyundai Kona EV | 6,102 euros | 984 euros | 591 euros | 149 euros | 7,828 euros |
| 10 | Polestar 2 | 7,784 | 1,042 euros | 549 euros | 230 euros | 9,606 euros |
Table 1 – The 10 Most Affordable Electric Cars to Rent in 2023 (Forbes)
Analyzing the data in the table, we came to the conclusion that the most interesting data are those in the last column (total costs). From this we can conclude that the Fiat 500e is the least expensive electric car on the market, followed by the MG ZS EV and Nissan Leaf.
…Fiat 500e is the most affordable electric car on the market.
Electric cars that have depreciated at least
In addition to studying the most expensive electric cars in 2023, Forbes prepared another study that analyzed the least depreciating electric cars. The study was applied to the same cars.
The analysis was determined by the following factors:
- The basic price of the car
- Average depreciation after 3 years (lower percentage, higher buyback value)
| Electric car | Depreciation value
(after 3 years) |
Base price | |
| 1 | Fiat 500e | 41% | 27,215 euros |
| 1 | Small tram | 41% | 37,704 euros |
| 3 | Renault Zoe | 42% | 34,745 euros |
| 4 | MG ZS EV | 43% | 35,260 euros |
| 5 | Nissan leaf | 45% | 32,944 euros |
| 5 | MG 5 EV | 45% | 35,903 euros |
| 5 | Tesla Model 3 | 45% | 49,798 euros |
Table 2 – Electric cars with the lowest consumption after 3 years (Forbes)
Analyzing the table, we can see that the Fiat 500e is again the best electric car, in this case in the category with the lowest consumption, next to the small electric car. However, the most expensive Italian electric car, closing out the top three, is the Renault Zoe.