Walmart offers the Polaris Scrambler ATV Ride-On in Red, model no. 3-50597, for $39.99. Choose in-store pickup to dodge the $4.97 shipping fee. That's the lowest price we could find by $9. It requires two AAA batteries (included) and features three dash buttons, super-grip tires, and parent volume control.
Update: Target offers it in Black for $39.99 with free shipping.