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Walmart Is Selling a $1,198 E-Bike for Only $498 During Its Deals Event, and Shoppers Say It's 'Tons of Fun'

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Walmart's Holiday Deals Event is officially live, and the big box behemoth is slashing prices on everything from outdoor sheds to adjustable weight sets. Deals run through Oct. 13, but they're not guaranteed to stick around—especially at such low prices—and we're anticipating high-ticket items like e-bikes and e-scooters to go quickly. If you're searching for a shiny new electric bike, Walmart has a great one on sale during its October sale at a walloping $700 off its standard asking price.

The Hyper Bicycles Ultra 40 Electric Bike is on sale for $498, 58% less than the $1,198 it normally goes for. It comes “almost completely assembled in the box” and offers a 20-mile range with 20 mph top speeds, more than enough for casual rides around town. Reviewers say that it’s a great pedal assist option that is “easy to operate and feels very sturdy on various terrain.”

Hyper Bicycles Ultra 40 Electric Bike in Black, $498 (was $1,198) at Walmart

Courtesy of Walmart

A sub-$500 price tag on an electric bike is a rare thing, and while this isn’t the right choice for long-haulers, it’s an absolute steal for anyone who wants to see what all the e-bike fuss is about. It’s a pedal-assist bike, so it rides much like a regular bike but with less effort, and it comes with 4-inch fat tires that are perfect for taking on bumpier terrain. The seat is padded and comfortable, and it lifts up to reveal a handy storage compartment that’s a great place to stash your everyday carry.

One reviewer who owns a couple of beefier class 3 e-bikes calls this relatively low-powered class 1 model a “nice little bike” that feels like “a beefed-up BMX bike.” It’s “lightweight, very nimble, you get some exercise, and [it] has decent range for riding the trail or around town.” They added, “If Hyper keeps these under $600, I think it will get a lot of people riding these bikes.” We can only imagine what this sub-$500 price tag might do.

Related: Thousands of DeWalt, Levi's, and Asics Deals Are Now Live for Amazon's October Prime Day—Shop These 12 ASAP

Another side effect of this 58% price cut is that they're almost sure to move fast. One colorway is already gone, so we’d recommend pouncing on your own Hyper Bicycles Ultra 40 Electric Bike before the rest go during Walmart's Holiday Deals Event.