What the lowest-priced electric trucks cost today
The cheapest electric truck you can buy new is the Chevrolet Silverado EV, starting around $39,900 before incentives. The Ford F-150 Lightning base model begins near $42,000, and the GMC Sierra EV Denali Edition 1 starts around $50,000. Prices shift with model year changes and dealer inventory, so the exact lowest price depends on what's available in your region and whether you're buying this year or next.
Used electric trucks cost less upfront but have limited inventory. A used 2022 or 2023 F-150 Lightning typically runs $45,000 to $55,000 depending on mileage and condition. The Silverado EV and Sierra EV are too new to have meaningful used markets yet. If you're open to smaller electric trucks, the Hyundai Santa Cruz Electric (a compact truck-SUV hybrid) starts around $35,000 and may be available sooner than full-size options in some areas.
Federal tax credits of up to $7,500 can reduce the actual price you pay, but you must meet income and vehicle assembly requirements. Some states offer additional rebates. The final cost depends on your location, credit status, and which dealer you work with.
Key Takeaways
- The Chevrolet Silverado EV is the lowest-priced full-size electric truck at around $39,900 before any tax credits or rebates.
- Federal tax credits up to $7,500 may reduce your actual cost, but may be able to access depends on your income and where the truck was assembled.
- Used electric trucks have limited inventory but can cost $5,000 to $15,000 less than new models, though selection varies by region.
- Smaller electric trucks like the Hyundai Santa Cruz Electric start lower but offer less towing and payload capacity than full-size options.
- Dealer pricing and regional availability change frequently, so checking multiple dealers in your area will show you the real lowest price available to you.
How federal tax credits affect the real price
The federal tax credit for electric vehicles is worth up to $7,500 and applies to most new electric trucks. However, you only receive it if you meet two conditions: your household income must fall below $300,000 (married filing jointly), and the truck must be assembled in North America. All current electric trucks sold in the U.S. meet the assembly requirement, so income is the main barrier.
The credit is a tax benefit, not a rebate at the dealership. You claim it when you file your taxes the following year, which means you pay the full sticker price upfront and get the money back later. Some dealers offer point-of-sale credits where you receive the discount when ready, but this is less common and depends on your dealer and financing situation.
If you're financing the truck, the credit reduces your tax liability for the year you buy it. If you owe less in taxes than $7,500, you only receive the amount you owe. Self-employed people and those with irregular income should consult a tax professional to understand how the credit applies to their situation.
Comparing the three cheapest full-size options
| Truck | Starting Price | Range (EPA) | Towing Capacity | Availability |
|---|---|---|---|---|
| Chevrolet Silverado EV | ~$39,900 | 200 miles | 8,000 lbs | 2025 model year |
| Ford F-150 Lightning | ~$42,000 | 240 miles | 10,000 lbs | In stock now |
| GMC Sierra EV Denali Edition 1 | ~$50,000 | 260 miles | 11,500 lbs | 2025 model year |
The Silverado EV is the cheapest but has the shortest range and lowest towing capacity. It's designed for buyers who prioritize price over capability. The F-150 Lightning costs about $2,100 more but offers 40 extra miles of range and can tow 2,000 pounds more. The Sierra EV is the most expensive of the three but has the longest range and highest towing capacity.
The F-150 Lightning has the advantage of availability right now — you can find them at dealers today. The Silverado EV and Sierra EV are 2025 model year trucks, meaning they're just beginning to reach dealerships. If you need a truck when ready, the F-150 Lightning is your only choice among these three.
Used electric trucks and what to watch for
Used electric trucks are rare because the F-150 Lightning is the only one that's been on the market for more than a couple of years. A 2022 F-150 Lightning with 30,000 to 50,000 miles typically sells for $45,000 to $55,000 depending on trim level and condition. Prices vary widely by region — trucks cost more in areas with high electricity costs and strong EV adoption.
When shopping used, check the battery health report if the dealer has one. Most electric trucks retain 90 to 95 percent of their battery capacity after 50,000 miles, but this varies by how the previous owner charged and drove. Ask whether the truck was charged mostly at home or at fast-charging stations — frequent fast charging degrades batteries slightly faster.
Used electric trucks may not may have access to for the federal tax credit, though some states offer used EV rebates. Check your state's environmental or energy office website to see what's available. Certified pre-owned trucks from manufacturers sometimes come with extended battery warranties, which is worth asking about.
Smaller electric trucks as a budget alternative
If you're willing to sacrifice some truck capability for a lower price, the Hyundai Santa Cruz Electric starts around $35,000 and is smaller and lighter than a full-size truck. It's technically a compact truck-SUV hybrid, so it has a shorter bed and lower towing capacity (1,500 pounds) than full-size options. It's best for people who need occasional truck features but primarily want a vehicle that's cheaper to buy and operate.
The Santa Cruz Electric has about 230 miles of range and qualifies for the same federal tax credit as full-size trucks. Availability is limited — it's rolling out gradually across the country, so check whether dealers near you have it in stock. Used Santa Cruz Electrics are not yet available since the model is brand new.
Other compact or mid-size electric trucks are in development but not yet for sale. The Chevrolet Equinox EV is an electric SUV, not a truck, though it starts even lower at around $35,000. If you're open to an SUV instead of a truck, it's worth comparing.
Where to find the lowest prices in your area
Prices vary significantly by dealer and region. The sticker price you see online is a starting point, but your actual cost depends on dealer markup, local demand, and whether the dealer is offering discounts. In areas with high EV adoption, dealers may have less inventory and charge closer to sticker. In areas with lower demand, you may find discounts or incentives.
Check prices at multiple dealers within 100 miles of your location. Use manufacturer websites (Chevrolet, Ford, GMC) to search inventory and see what's available now versus what's on order. Call dealers directly to ask about their current pricing and whether they're offering any discounts or incentives beyond the federal tax credit.
If you're buying used, check Autotrader, Cars.com, and local Craigslist listings to see what's selling in your area and at what price. Used truck prices fluctuate based on local supply, so a truck that costs $50,000 in one state might cost $48,000 in another. Traveling to buy a truck is rarely worth the savings unless you're looking at a difference of several thousand dollars.
Operating costs: electricity versus gasoline
Electric trucks cost less to fuel than gas trucks. Charging at home costs about $0.03 to $0.05 per mile depending on your local electricity rate. Gasoline trucks typically cost $0.08 to $0.12 per mile. Over 100,000 miles, this difference adds up to $5,000 to $9,000 in fuel savings.
Maintenance is also cheaper. Electric trucks have no oil changes, spark plugs, or transmission fluid. Brake pads last longer because regenerative braking does most of the stopping. Tire wear is similar to gas trucks. Over the life of the vehicle, maintenance savings can reach $2,000 to $4,000, though this varies based on driving habits and local repair costs.
The trade-off is higher upfront cost. Even with the federal tax credit, an electric truck costs $5,000 to $15,000 more than a comparable gas truck. Whether the fuel and maintenance savings justify the higher price depends on how many miles you drive per year and how long you keep the truck. If you drive 15,000 miles per year and keep the truck for 10 years, the savings likely cover the price difference. If you drive 5,000 miles per year, they may not.
Frequently Asked Questions
Can I get the federal tax credit if I'm financing the truck?
Yes. The credit applies whether you pay cash or finance. If you finance, you claim the credit on your tax return the following year. Some dealers now offer point-of-sale credits where the discount is applied at purchase, but this is less common and depends on your dealer and lender.
What's the difference between the Silverado EV and the F-150 Lightning?
The Silverado EV is cheaper ($39,900 vs. $42,000) but has shorter range (200 miles vs. 240 miles) and lower towing capacity (8,000 lbs vs. 10,000 lbs). The F-150 Lightning is available now; the Silverado EV is a 2025 model year truck just reaching dealerships. Choose the Silverado if price is your priority; choose the F-150 if you need the truck when ready or want more capability.
Do used electric trucks hold their value?
Yes, better than gas trucks in most cases. Used electric trucks are rare, so demand is high and prices remain strong. A 2022 F-150 Lightning that cost $50,000 new typically sells used for $45,000 to $55,000 depending on mileage and condition. Gas trucks depreciate faster in the same timeframe.
What if I don't have a garage to charge at home?
You can still own an electric truck, but charging will be slower and more expensive. Public charging networks are expanding, but charging at a public station costs $0.25 to $0.50 per kilowatt-hour, roughly double home charging rates. If you can't charge at home, calculate whether public charging costs fit your budget before buying.
Is the Hyundai Santa Cruz Electric a real truck?
It's a compact truck-SUV hybrid with a shorter bed (4.5 feet) and lower towing capacity (1,500 pounds) than full-size trucks. It's best for people who need occasional truck features but want a smaller, cheaper vehicle. If you need to tow regularly or carry heavy loads, a full-size electric truck is a better choice.