What "cheap" means when you're buying an electric truck

An electric truck costs less to run than a gas truck, but the purchase price is still high. A new electric truck from a major manufacturer starts around $40,000 to $60,000 before incentives, depending on the model and features. Used electric trucks, older model years, and smaller or simpler designs cost less upfront — sometimes $20,000 to $35,000 — but have fewer miles of range and may have battery degradation.

The real savings come over time: electricity costs roughly one-third what gasoline costs per mile, maintenance is simpler because there's no oil change or transmission fluid, and some states and cities offer tax credits or rebates that reduce the purchase price. If you drive a truck for work or regularly haul loads, those operating savings add up fast. If you drive occasionally, the lower purchase price of a used model might matter more than the fuel savings.

Before shopping, decide whether you need a truck that can tow heavy loads or haul a full bed regularly. That choice narrows which models exist and which price range is realistic for your actual use.

Key Takeaways

  • New electric trucks from Ford, Chevrolet, and Rivian range from $40,000 to $70,000 before incentives; used models and smaller brands cost $20,000 to $40,000.
  • Federal tax credits up to $7,500 and state rebates can reduce the purchase price, but you must check your income and the truck's final assembly location to confirm you may have access to.
  • Used electric trucks have lower upfront cost but shorter range and possible battery wear; new trucks come with battery warranties usually covering eight years or 100,000 miles.
  • Charging at home costs far less than public charging, so installation of a Level 2 charger ($500 to $2,000) often pays for itself within a year if you drive regularly.
  • Smaller electric trucks and trucks from newer brands cost less than full-size models from established manufacturers, but have fewer service centers and less resale history.

New electric trucks under $50,000

The Ford F-150 Lightning starts around $42,000 for the base model and qualifies for the federal tax credit if assembled in North America and if your household income is below the limit (roughly $300,000 for joint filers). After the credit, the price drops to around $35,000. The Chevrolet Silverado EV and GMC Sierra Denali EV are newer and start in the $50,000 range, also may be able to access for the federal credit.

Smaller electric trucks cost less. The Hyundai Santa Cruz Electric (a compact truck-crossover hybrid) starts around $35,000 before incentives. The Chevrolet Colorado EV, coming in 2025, is expected to start under $40,000. These smaller models have less towing capacity and bed space than full-size trucks, but they cost less to buy and less to charge.

Check the manufacturer's website for current pricing in your state, because prices change and some models have regional availability. The federal tax credit is not automatic — you claim it on your tax return the year you buy, and your income and the truck's manufacturing location determine whether you may have access to.

Used electric trucks and where to find them

Used electric trucks are harder to find than used gas trucks because electric trucks are newer and fewer have been sold. A used Ford F-150 Lightning from 2022 or 2023 typically costs $35,000 to $50,000 depending on mileage and condition. Used Nissan Leaf trucks (older, smaller, and less common) appear on the used market for $15,000 to $25,000.

Check Edmunds, Kelley Blue Book, and Cars.com for used electric trucks in your area. Local dealerships that sell electric vehicles sometimes have used inventory. Certified pre-owned trucks from manufacturers come with extended warranties, usually covering the battery for eight years or 100,000 miles from the original purchase date.

Before buying used, ask the seller for a battery health report. Most electric trucks show battery degradation over time, but a well-maintained truck with 30,000 to 50,000 miles should retain 90% or more of its original range. If the report shows the battery below 80% capacity, negotiate the price down or walk away.

Federal and state incentives that lower the price

The federal tax credit is up to $7,500 for electric trucks assembled in North America. You claim it on your tax return in the year you buy. Your household income must be below $300,000 (joint filers) or $150,000 (single filers), and the truck's final assembly location matters — most Ford and Chevrolet trucks may have access to, but some models do not.

Many states offer additional rebates or tax credits. California offers up to $7,500 for used electric trucks and $2,500 for new ones (income limits explore). Colorado, New York, and Massachusetts have their own programs. Check your state's energy office or environmental agency website for current programs, because they change year to year and some run out of funding.

Some utility companies offer rebates for installing a home charging station, which can cover $500 to $1,000 of the installation cost. Ask your electric company whether they have a program before you hire an electrician.

Home charging versus public charging costs

Charging at home on a Level 2 charger (240 volts) costs roughly $3 to $5 per full charge, depending on your local electricity rate. A public fast charger costs $10 to $20 per charge. If you drive 200 miles per week, home charging saves you $500 to $1,000 per year compared to public charging.

Installing a Level 2 charger at home costs $500 to $2,000 depending on your electrical panel and how far the charger is from the panel. Many electricians can install one in a day. If you charge at home most nights, the installation pays for itself within one to three years through fuel savings alone.

If you rent or cannot install a home charger, public charging is more expensive and slower, but it is possible — plan for longer charging times and higher costs. Some workplaces and apartment complexes offer charging, which can reduce your reliance on public networks.

Smaller and newer electric truck brands

Rivian R1T is a newer electric truck with strong reviews but costs $70,000 and up, so it is not in the budget category. However, Lordstown Motors (now under new ownership) and other startups have produced lower-cost electric trucks, though availability and service support are limited. Before buying from a newer brand, research whether service centers exist near you and whether the company is financially stable.

Chinese electric truck manufacturers like BYD produce affordable models, but they are not widely sold in the United States yet. As regulations and trade policies change, more options may become available, but for now, Ford, Chevrolet, and Hyundai are the most accessible brands with established service networks.

Smaller electric trucks from established brands (like the Hyundai Santa Cruz Electric) are often cheaper than full-size models and have better service availability than startups. They sacrifice towing capacity and bed space, but if you do not need those features, the lower price and simpler maintenance make them a practical choice.

What to check before you buy

Range matters more than you might think. A truck rated for 200 miles of range will give you roughly 150 to 170 miles in real driving, especially in cold weather or when towing. If you regularly drive more than 150 miles in a day, you will need to plan charging stops or use public chargers, which slows your trip.

Towing capacity drops significantly when you tow. A truck rated to tow 10,000 pounds will see its range cut by 30% to 50% when actually towing. If you plan to tow regularly, test the truck with a load or ask the dealer for real-world range estimates under load.

Battery warranty is critical. Most manufacturers cover the battery for eight years or 100,000 miles, whichever comes first. Some cover degradation below 70% capacity; others only cover complete failure. Read the warranty terms before you buy, because battery replacement costs $10,000 to $20,000 if it fails after the warranty expires.

Frequently Asked Questions

Can I get the federal tax credit if I buy a used electric truck?

Yes, but the rules are different. Used electric trucks must be at least two years old, and the credit is up to $4,000 (half the new truck credit). Your household income must be below $300,000 (joint) or $150,000 (single), and the truck's sale price must be below $25,000. Not all used trucks meet these limits.

How long does an electric truck battery last?

Most electric truck batteries retain 80% to 90% of their capacity after eight years or 100,000 miles. Degradation slows after that. Real-world reports from owners show many batteries lasting 10 to 15 years or more, but warranty coverage typically ends at eight years or 100,000 miles, so plan accordingly.

What if I cannot install a home charger?

You can still own an electric truck, but charging will be slower and more expensive. Use public Level 2 chargers (slower, cheaper) for daily charging and fast chargers for long trips. Many apartments and workplaces now offer charging. Plan your routes around charger locations and allow extra time for charging stops.

Is an electric truck cheaper to maintain than a gas truck?

Yes. Electric trucks have no oil changes, spark plugs, transmission fluid, or timing belts. Brake pads last longer because regenerative braking does most of the stopping. Routine maintenance costs roughly one-third what a gas truck costs. Tire wear is similar between electric and gas trucks.

Should I buy new or used to save money?

New trucks may have access to for larger tax credits (up to $7,500) and come with full battery warranties. Used trucks cost less upfront but have shorter range and possible battery wear. If you drive frequently and plan to keep the truck for five years or more, the fuel savings and warranty of a new truck often outweigh the higher purchase price. If you drive occasionally or want the lowest upfront cost, used is cheaper.