It feels like there's still no such thing as a cheap, new electric vehicle. However, that's not entirely true. Brands like Hyundai have pushed compact EVs more than most other automakers to the point where they cost less than the national average for a new car. Not only can you buy a brand-new Ioniq 5 for well under the national new-vehicle average, but you can also find used options for less than half that price.Let's look at the cheapest way to get your hands on a new Hyundai EV with at least 250 miles of range. Plus, there's a viable alternative with similar specs, affordable pricing, used options, and more.New car pricing is correct at the time of writing, and excludes destination, options, taxes, and other fees. Used car prices vary depending on many factors, including location, condition, and more. The Cheapest New Hyundai With A 250-Mile Range 2026 Hyundai Ioniq 5 HyundaiThe best way to get at least 250 miles of range from a new EV for cheap is by buying the 2026 Hyundai Ioniq 5. This model comes in either rear- or all-wheel drive, with power from either a single rear-mounted motor or two electric motors. To reach at least 250 miles of range, buyers must upgrade beyond the base model.First, let's focus on the powertrain and charging abilities. Every trim, except for the base model, uses an 84-kilowatt-hour lithium-ion battery. The base model's battery is only 63 kWh. On one hand, the smaller battery of the cheapest trim allows for a quicker DC fast-charging time of 24 minutes to get from 10% to 80%, but every other trim does just fine at 30 minutes to charge to the same capacity. That involves a 400-volt NACS charger — using an 800-volt charger reduces the time to 20 minutes across the board, regardless of battery size. 2026 Ioniq 5 Trims and Pricing Nicole Wakelin/CarBuzz/ValnetThe 2026 Ioniq 5 is available in five trims. The most basic version is the SE Standard Range, which has a 63 kWh battery and a range of only 245 miles. Therefore, the cheapest way to get at least 250 miles of range is to upgrade to the SE trim for $37,500. This grade comes in either RWD or AWD.Choosing the rear-drive model not only saves you some money, but it also offers better range, with RWD examples going up to 318 miles. With all-wheel drive, the distance drops to 290 miles with the 84 kWh battery. Buyers can choose between single- and dual-motor setups (RWD or AWD) on most trims. The XRT off-road-oriented trim is available only in AWD, and the SE Standard Range is available only with RWD. An Even Cheaper Hyundai With 250 Miles of Range Used 2024 Hyundai Kona Electric HyundaiEven though the Ioniq 5 is currently the cheapest new Hyundai EV, it's still relatively expensive. Looking at the used market might worry some people about the longevity of the battery, but the latest studies show that's not much of a problem these days. Therefore, we ask that you consider the 2024 Hyundai Kona Electric. It's not as impressive in terms of range and power, but it's far cheaper. Hyundai only offered the vehicle with a single motor mounted to the front axle.There are three main trims, with the base model getting a 48.6-kWh battery for 133 miles of range, and the two higher trims a 64.8-kWh pack provides 261 miles of range. Hyundai explains in its official documentation from 2024 that all models take about 43 minutes to charge from 10% to 80% using a 100kW Level III quick charger. Using a standard Level II charger means the base model can go from 10% to 100% in 4 hours and 55 minutes, and the other trims, with their larger batteries, can charge to the same level in about 6 hours and 5 minutes. Used Kona Electric Pricing Today HyundaiElectric vehicle depreciation is no joke, but it works in favor of used car buyers. The 2024 Kona Electric currently ranges from $19,300 to $20,300, depending on the trim level, according to Kelley Blue Book. That said, used-car values can vary; the price may be higher or lower depending on where the car is sold/where it spent most of its life, how many miles are on the odometer, how many owners it has had, the vehicle's cosmetic and mechanical condition, and more.In the Kona Electric's case, buyers who want at least 250 miles of range should pick the SEL or Limited trim, which comes with a larger battery and more range to begin with. Choosing this used model can double your savings as long as you're willing to settle for less power and a FWD configuration. A Rival With 250 Miles Of Range 2026 Kia Niro EV KiaThe Kia Niro EV barely goes over 250 miles of range while remaining relatively affordable. This 2026 model is available in only two trims, both of which share the same powertrain and battery setup. Both trims are equipped with a single electric motor mounted to the front axle that makes 201 horsepower and 188 lb-ft of torque, with power supplied by a 64.8-kWh battery. Charging times vary widely depending on the type of charger you use; charging to 100% with a 120V AC charger takes about 2.5 days, but using a DC fast charger can bring the battery from 10% to 80% in about 43 minutes. Hyundai Ioniq 5 Vs Kia Niro EV Pricing KiaLike we said, the 2026 Kia Niro EV is only available in two trims: the Wind and the Wave. The Wind variant starts at $39,700, while the Wave starts at $44,700. That's far more than the starting price of the Hyundai Ioniq 5, yet it offers less power, shorter range, and slower charging.It seems there's an obvious winner here if those are the only specs considered, but there's more to it than that. This Kia offers more interior comfort features than the Ioniq 5's cheaper trims. In fact, we would compare this model to the new Hyundai's higher trims, which ultimately places them in pretty close competition. Used 2023 Niro EV Specs and Pricing KiaFinally, we have a used Kia to consider, which is on par with the used Hyundai we mentioned in terms of pricing. The 2023 Kia Niro EV was still only offered in the Wind or Wave trims, which had lost about half their value over the last few years. That's fairly common for electric vehicles. This model is now on level ground with the used Kona Electric we talked about, both in price and specs. While the cheapest Kona Electric only has 133 hp, the other two trims match this Kia at 201 hp. In terms of range, the higher Kona Electric trims edge out the Niro EV by a few miles. Is Buying a New Hyundai Ioniq 5 Worthwhile? Nicole Wakelin/CarBuzz/ValnetIf you're dead-set on buying a new car, then you can count on spending at least $37,500 for a minimum of 250 miles of range. There may be cheaper models out there that offer less range (like the base trim of the Ioniq 5), but the best way to get a usable range for cheap is in the 2026 Ioniq 5 SE. The Kia Niro EV is a viable alternative if you can spare a few thousand extra dollars, but we wouldn't stretch our budgets for not much return. As far as used models go, the 2023 Kia Niro EV might actually be the better choice. It has a similar range and power to the 2024 Kona Electric, but it's about the same price while offering more comfort features.