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Finding a high-quality folding bike at an affordable price that meets all your needs is a challenging task. You will need to find the perfect balance between the price and features that a folding bike offers. In addition, an inexpensive folding bike sometimes doesn’t provide all the functions and features you need.

That’s why we prepared this guide that contains the best folding bikes for under 500 dollars.

Best Folding Bike Under 500
Best Folding Bike Under 500

Whether you are budget-constrained or simply don’t want to spend a whole lot of money on a folding bike, the following list is going to help.

Schwinn Loop Folding Bike – Best Overall

Our Pick
Schwinn Loop Folding Bike, 20-inch Wheels

The Schwinn Loop Adult Folding Bike is an excellent choice for those who require a compact, efficient, and comfortable solution for urban cycling. Its convenient folding design, smooth gear changes, and secure brakes make it perfect for city commutes and weekend rides.

Key Specifications:
  • Wheel size: 20 inches
  • Weight: 30 lbs
  • Gears: 7-speed
Best For: Commuters on a tight budget.
  • I found the Schwinn Loop to be lightweight and easy to fold, making it ideal for on-the-go riders
  • With a versatile step-through frame, it comfortably accommodates riders from 4'8" to 6'2"
  • Smooth gear changes with the 7-speed twist shifter
  • The front and rear linear-pull brakes boosted my confidence with reliable braking performance
  • The rear cargo rack allowed me to conveniently carry my bags
  • The 20-inch alloy wheels with street tires provided a comfortable and efficient ride on city streets.
  • I experienced difficulty folding the bike, requiring practice to get it right.
  • The handlebar grips were rough, potentially causing discomfort on longer rides.
  • The handlebars cannot be raised or lowered, which may not suit everyone's preferred riding position.
  • The bike's weight is slightly more than I expected, making it less convenient to carry when folded.
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01/29/2024 03:02 am GMT

Schwinn is a well-known brand that offers high-quality bikes. Schwinn offers some folding bicycles that are the cheapest in the market. The Schwinn Loop Adult Folding bicycle topped out the list because it doesn’t disappoint in any department.

It’s the best folding bike under 500 dollars that check all the boxes. First of all, it’s hugely convenient to assemble because of its state-of-the-art loop folding mechanism. You can easily set this folding bicycle up in a couple of fell swoops.

It’s specially designed for heavy-duty use and can easily handle six-foot-tall cyclists. You can also use it for raving and camping. The Schwinn Loop Adult Folding Bike offers a sturdy body made of durable steel, and you can store it even in your truck after folding.

Our Rating

  • Frame: 4.5/5
  • Gears: 4.5/5
  • Folded Dimensions: 4.5/5 (30 x 32 x 11) inches
  • Brakes: 4/5
  • Wheel Size: 4.5/5
  • Value for Money: 4/5


  • Features 7-speed Shimano Gears
  • It comes with front and back fenders
  • Features 20-inch wheels
  • Lightweight
  • A nylon carry bag and rear carry pack included


  • Handlebar design could be better

Xspec Folding Compact City Commuter Bike – Best for Commuting

Xspec 20" 7 Speed Folding Commuter Bike
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01/28/2024 06:34 am GMT

If you’re looking for a cheap folding bike under 500 dollars for commuting, the Xspec Folding Compact City 20-inch Commuter Bike is your best choice. This bike comes with a premium quality folding frame that’s lightweight and sturdy.

You can fold this bike within seconds, and it can easily be carried on public transportation, stored under a desk, or even in the trunk of your vehicle. It features 20-inch wheels, a rear carrying rack, and a Shimano 7-speed rear derailleur.

Another great feature that the Xspec Folding Compact folding bike offers is its comfortable seat. Not only does it feel comfortable, but it also makes long commutes effortless. Like most folding bicycles, this bike also comes in a box, and you need to assemble it yourself.

The process of assembling this bike is pretty straightforward. However, you might need to make a few adjustments to gears and brakes.

Our Rating

  • Frame: 4/5
  • Gears: 4.5/5
  • Folded Dimensions: 4/5 (29 x 24 x 13) inches
  • Brakes: 3.5/5
  • Wheel Size: 4.5/5
  • Value for Money: 4.5/5


  • Offers rear carrying rack
  • Great for commuting
  • Shimano 7-speed rear derailleur
  • Folds away within seconds
  • Comfortable seat
  • High-quality tires


  • Slow acceleration
  • Relatively weak brakes

Xspec Speed Folding Mountain Bike – Best Mountain Folding Bike

Xspec 26" 21 Speed Folding Mountain Bike

All in all, you get what you pay for. The Xspec folding bike does the job well, not exceptionally well, but good enough. This entry-level folding mountain bike functions well both on and off the road!

  • Fast 26″ wheels
  • Suitable for on and off-road
  • Well built bike
  • 8 quick shift gears
  • Great value for money
  • MTB tires slower for urban riding
  • Fold away size not as small due to 26″ wheels
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01/29/2024 03:15 am GMT

The Xspec Speed Folding Mountain Bike comes with a 21-speed Shimano gear system and 26-inch wheels. You can enjoy this affordable bike at different speeds just the way you want. It’s a flexible and versatile bike that comes with high-quality brakes, and you can use them to stop your bike within a moment.

Xspec Speed Folding Mountain Bike features the latest disc-brake technology, and it performs just like V-brake systems (if not better). The front and the back of this bike are equipped with a dual steel suspension system allowing you to enjoy a smooth ride.

Thanks to its double-wall rimmed wheels, you can even use this bike to ride on rough terrain. These features make the Xspec one of the best folding bikes under 500 dollars that you can buy.

Our Rating

  • Frame: 4/5
  • Gears: 5/5
  • Folded Dimensions: 3.5/5 (41 x 32 x 22) inches
  • Brakes: 5/5
  • Wheel Size: 5/5
  • Value for Money: 4/5


  • Features a 21-speed Shimano gear system
  • It comes with shock absorbers
  • Best mountain bike under 500 dollars
  • Powerful disc brakes to deliver instant stopping power
  • Made of durable high-tensile steel frame


  • Heavy bike and carrying it can be challenging

Vilano Urbana Single Speed – Best Lightweight

Vilano Urbana Single Speed Folding Bike
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If you need an affordable folding bike just to go to school or work and back, you can go with Vilano Urbana Single Speed Folding Bike. That’s because this folding bike works impressively in flat areas.

It’s not advisable to use this bike in rough terrain.

This bike features one of the most lightweight aluminum frames available on the market. The weight of this bike is only about 22 pounds. Not only does it help you to accelerate faster, but you can also easily carry it if you need to store it in your car or go on public transportation.

Keep in mind this bike comes with a single-speed drivetrain which is one of the reasons for its low weight. The folded dimensions are also impressive which allows you to save storage space. It also needs assembling, and you’ll need to make sure that everything is tightened and all the components are in place.

Our Rating

  • Frame: 5/5
  • Gears: 3/5
  • Folded Dimensions: 4/5 (12 x 32 x 25) inches
  • Brakes: 5/5
  • Wheel Size: 4.5/5
  • Value for Money: 3.5/5


  • The frame is made from extremely lightweight aluminum
  • It folds away within seconds
  • Easy to carry and easy to fold


  • Coaster bike
  • Single-speed drivetrain

ANCHEER 500W Electric Bike – Best Electric Folding Bike

ANCHEER 14'' / 12'' Electric Bike

500W high-speed brushless motor, providing more than enough to power your daily commute, cruise through city streets or climb over little hills With speeds up to 20 mph, It will get you there swiftly.

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ANCHEER 500W Electric Bike offers a good value for money, considering the features it brings to the table. It’s the best option for those riders who want something that doesn’t need to be pedaled.

It’s a lightweight bike that features 14-inch wheels and a very powerful motor. The weight of this bike is about 26 pounds which, along with a compact form factor, allows you to carry it easily whenever needed.

On the downside, it’s not recommended for people who are more than 5 foot 10 inches tall. The ANCHEER 500W is a foldable electric bike that allows you to achieve a speed of 20 miles per hour and can cover a distance of 18 to 20 miles per charge.

Our Rating

  • Frame: 4/5
  • Gears: N/A (Offers 20 MPH speed)
  • Unfolding Size: 3.5/5 (41.3 x 37.8 x 19.7) inches
  • Brakes: 4/5
  • Wheel Size: 3/5
  • Value for Money: 4/5


  • IPX5 Waterproof Design
  • Powerful 500W Motor
  • App supporting system
  • Safe and stylish design
  • Dual disc brakes


  • Wheels are tiny

Goplus Folding Bike – Best Budget Folding Bike

Goplus 20'' Folding Bike
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If you’re searching for a folding bike and on a tight budget, you can’t go wrong with the Goplus Folding Bike. The Goplus frame is made of lightweight steel, and the bike also features a rear derailleur and shifter handle that allows you to change gears easily.

The bike features an ergonomic handlebar that reduces arm fatigue while riding. The overall build quality is also excellent and can stand up to the test of time. You can fold this bike easily within three simple steps to store it.

The 20-inch wheels and 7-speed drivetrain ensure a comfortable ride even if you’re riding it on mountain roads and rugged terrain.

Our Rating

  • Frame: 4/5
  • Gears: 4/5
  • Folded Dimensions: 4/5 (32.5 x 12.5 x 24) inches
  • Brakes: 4.5/5
  • Wheel Size: 4.5/5
  • Value for Money: 5/5


  • Front and rear V-brakes
  • Anti-skid and water-resistant tires
  • Easy to fold and carry design
  • Adjustable seat
  • Easy to carry
  • High-quality iron frame and aluminum rims.


  • Hinges could be better

TSM G7 Folding Bike – Best Gear System

TSM G7 27.5" Mountain Bike
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The TSM G7 Folding Bike is specially created for people who need to use bikes regularly. It comes with advanced features that ensure both durable and comfortable rides. It comes with a disc brake system that performs better than V-brakes and offers impressive stopping power.

The bike also features aluminum rims, which are designed to provide a rider with a seamless and worry-free riding experience. On the downside, the weight of this bike is 41.5 pounds which is the heaviest on this list, but it’s still a relatively inexpensive foldable bike.

Our Rating

  • Frame: 4/5
  • Gears: 5/5
  • Folded Dimensions: 3.5/5 (41.3 x 12.5 x 36.2) inches
  • Brakes: 4.5/5
  • Wheel Size: 4.5/5
  • Value for Money: 4.5/5


  • Extremely lightweight aluminum frame
  • Durable and sturdy build
  • 21-speed twist shifter


  • The material of the pedals could be better

How To Choose a Folding Bike Under 500?

As mentioned earlier, there are multiple factors you need to consider while choosing a folding bike. The following information will allow you to select the bike that suits your unique needs the best.


The frame material is probably the most critical factor to consider when choosing a folding bike. Not only do you need to select a suitable material, but it’s also important to buy a folding bike that features high-quality components. We recommend you go with an aluminum or steel frame.


Different folding bikes come with different drivetrains such as external gear, internal gear, and single-speed. The single-speed is the simplest type, and folding bikes with such gearing systems don’t offer any acceleration gear.

Consider buying a folding bike with a large gear ratio if you need speed. If the difference between your front and rear gear is significant, you’ll need to put in more pedaling power, but you’ll have a high top speed. In addition, bikes with a large gear ratio will also allow you to climb up hills effortlessly.

Folded Dimensions

If you have a small storage space or need to carry your bike to public transportation, consider buying a folding bike that features small folding dimensions. This feature also comes in handy if you like to travel by packing your bike in your car.

Most folding bikes have a small form factor, and they become even more compact after folding. This way, you can easily store them in your vehicle’s trunk. Therefore, it’s essential to consider folded dimensions and choose the bike based on your needs.


Your folding bike must have high-quality brakes to ensure ride and road safety. Different folding bikes feature other brakes, including disc brakes, V-brakes, etcetera. Disc brakes are more powerful, but they can also be dangerous if you apply them abruptly at high speed.

We recommend you test-ride the folding bike that you’re considering before actually buying it to test its brakes.

Wheel Size

Some folding bikes have big wheels, and others have small ones. If you need a tiny folding bike that can easily be stored and carried, you can go with a bike that comes with 14-inch wheels.

On the other hand, if you like to ride a bike on rough terrain, you can go with mountain folding bikes. These bikes come with a wheel diameter that usually ranges from 18 to 26 inches.

The immense size of these bikes ensures that they have a good ratio of gears and wheels. It is also recommended to consider your height while choosing the wheel size.

Value for Money

Price is one of those factors that you should always consider while buying any product, and folding bikes are no exception. Make sure you choose a bike that offers a perfect balance between features and price.

All the folding bikes mentioned in this list are under 500 dollars (in fact some folding bikes are under 300 dollars), and you can choose the folding bicycle that best suits your needs and budget.

People Also Ask

Which Folding Bike is Best?

Which Folding Bike is Best

It entirely depends upon your needs and budget. For example, if you’re looking for the best overall experience at a reasonable price, the Schwinn Loop Adult Folding Bike will suit you the best.

So, consider defining your needs and budget first and choosing the bike based on that. It’ll help you buy a folding bike that offers everything you need without putting stress on your wallet.

What is a Good Price for a Folding Bike?

Folding bikes are usually expensive, with an average price range of 700 to 1500 dollars. However, we have selected the most affordable folding bikes available in the market, and all of them have a price tag of fewer than 500 dollars, which is a reasonable price for a folding bike.

So, if you are willing to pay 500 dollars for a folding bike, you can consider any of the following bikes mentioned above.

What is the Cheapest Brompton?

All the bikes that Brompton offers are over 1,000 dollars, and currently, “Brompton B75” is the cheapest model that the company has to offer. It’s an entry-level bike that comes with a price tag of 1,095 US dollars.

Brompton even offers bikes that are over 4,000 US dollars, such as the E-Bike M6L, which costs 4,050 US dollars at the time of writing.

The Bottom Line

There you have it. These are some of the best folding bikes under 500 that you can buy. If you’re looking for a folding bike that checks all the boxes and performs excellently in all departments, consider going with the Schwinn Loop Adult Folding Bike.

On the other hand, if you are searching for an affordable folding bike for commuting, the Xspec Folding Compact City Commuter Bike can be a choice. However, if you’re an adventurer looking to buy a folding mountain bike for under 500 dollars, the Xspec Speed Folding Mountain Bike will suit you the best.

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One Comment

  1. Hi. What do you think about the foldables from Citizen Bikes and the one and only Schwinn 20″ Loop foldable? I’m on a very tight budget but looking for the portability and hopefully some quality that is respectable!

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