5 Ways an E-bike Can Save Your Money

Sep 14, 2022


Electric bikes are becoming the talk of the town these days. The reason is that they are excellent for commuting and health and can also help you save a significant amount of money. According to a research firm NPD, electric bike sales had increased by 240% in 2021. This shows that people are now preferring them over other vehicles.

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Previously, people had to ride standard bicycles or use gas vehicles. Now, thanks to the advancement of technology, there is another wonderful option, and that is E-bikes. 

These bikes are incredibly beneficial for people who want to save money. They are cheaper to get and easy to afford. And the best thing is that they are eco-friendly. But most of you may not be aware of these bikes. So, let's first understand what an Electric bike is. 

What is an Electric bike?

An electric bike is similar to a standard bicycle but has a motor attached along with the pedal system. These bikes are rechargeable and do not depend on fuel or gas. This means there will be lesser money spent and no carbon footprints. Thus, they are many folds better than ordinary bicycles.

First, let's look at the cost of traveling with and without electric bikes.

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Comparison of commuting with and without E-bikes

There is a considerable difference between the commuting cost of E-bikes and other vehicles. In this article, we will explore in what ways it is better. Here is a comparison of commuting costs without an E-bike and the cost of an E-bike.

The Average Cost of Commuting without an E-bike

People mostly use public transport, personal vehicle, taxis, and bikes for daily commuting. In addition to taking a lot of time, commuting also heavily costs your wallet. Daily workers spend an average of 239 hours commuting per year, according to a new poll by Clever Real Estate.

The same study found that commuters spend an additional $410 on vehicle maintenance each year in addition to an average annual gasoline cost of $867. The maintenance charges include tolls and parking tickets. These charges do not have the price of the vehicle.

These figures show that commuting costs a hefty amount of money to those who travel daily.

The Average Cost of an Electric Bike

Buying an E-bike may cost you more than an average bike, but it is a one-time investment. You don't have to pay fuel charges now and then. The average price usually ranges from $600 to $3000, but there are some very costly models.

Additionally, for every 1000 miles, the recharging cost is approximately 1-5 dollars, which is way less than the fuel prices considering the current inflation rate. Some E-bikes have warranties so that you can save your maintenance charges for one or two years. 

How can you save money with an E-bike?

Getting an Electric bike is the best investment you can make. There is no fuel cost, and you can use it anywhere. The maintenance cost is also very low compared to personal cars. It also helps you to save money on your driving license and parking fees.

Moreover, these bikes do not harm the planet. Yes, that's right. E-bikes can improve the planet by not adding carbon footprints to the environment. In addition to that, riding a bicycle has a lot of health benefits. So, you can avoid the cost of hospital visits as well. Also, if you are thinking that cycling may waste your time, that's not true. It helps you to avoid heavy traffic and get to your destination quickly.

There is a long list of benefits of Electric bikes. 

No Need for a driving license

Are you tired of renewing your driving license after every few years? Now, you can get rid of this problem. We have an excellent option for you that you can use without a driving license. E-Bikes are like standard bicycles; you can use them without a license. Yes, that's right. This means you no longer need to pay money for a driving license.

It can save the license fee and insurance charges you must pay in case of a personal car. Thus, get yourself an Electric bike, and save the money you used to pay for your driving license.

Stop using public transport

Those who cannot afford personal cars have to use public transport. Although first-world countries have the best public transport facilities, they have specific timings. Besides, going to the station, buying tickets, and waiting for buses take a lot of time. And if you are stuck in a traffic jam, it would waste more time of yours.

Additionally, due to sky-rocketing fuel charges, the cost of traveling on public transport has also become higher. So, the best option is to go for an electric bike. It is less costly than cars, and maintenance charges are pretty low. On average, it will cost you lower than public buses. Thus, you can save your time and money by getting these bicycles.

Saves You Parking Money

According to INRIX, searching for a parking spot costs Americans $73 billion annually. This is quite a lot of money. The parking fees for cars are also pretty high at most places.

In busy cities, people have to search for parking spaces. This search wastes the fuel of the vehicle. If you have a bicycle, you can park it anywhere easily. This saves the cost of fuel you spend on searching for parking. Moreover, the parking charges for bicycles are way lower than for cars.

The best thing is that you can park them at the side of the road, lock them, and that's it. Therefore, it will not be wrong to say that you can get rid of paying hefty parking charges using E-bike.

Save gas charges

The biggest issue with commutation these days is the escalated gas prices. With the rising inflation and global crisis, fuel costs will be even higher in the future. This also affects the rate of public transportation charges.

If you want to avoid this issue, you need to get an E-bike. It does not run on gas or fuel. So, you do not need to pay for them. As these bikes are electric, you only have to spend on recharging these bikes, which costs very little.

Here is a video for a realistic comparison of how much money you can save by substituting your cars with Electric bikes. You can watch this and get an idea of how beneficial these E-bikes are.

Cheaper Maintenance Costs

Electric bikes have less initial investment cost. They are way cheaper than cars and personal vehicles. In recent months, rates of cars have shot up to new heights. E-bikes do not cost much in comparison. People who cannot afford a car can easily afford an Electric bike.

Also, you do not have to worry about oil changes, repairs, tire rotation, and insurance charges. Overall, the maintenance costs of personal vehicles are very high. On the contrary, E-bikes have a minimal maintenance cost. So, this is the best vehicle for you if your budget is low.

Additional benefits

In the above points, we have discussed five ways an E-bike can help people in saving money. Now, let's look at some other benefits of these bikes, which may not be directly related to cost and price, but they will certainly benefit you in the long run.

Lesser hospital bills and gym costs:

You might be thinking about how this is related to E-bikes. Well, there is a connection between the two. We all know how beneficial cycling is for our bodies. But in a regular routine, we do not have time to cycle daily.

Using this bike, you can improve your health by cycling daily. This bike works on both peddle system and the motor. If you get tired mid-way, you can shift the bike on the motor. It can help you in losing weight. Resultantly, you will get healthier and get lower hospital bills.

Also, when cycling daily, you do not need to go to the gym to burn extra calories. This saves your gym charges as well. So, it can help you save money in many ways.

Environmental aspects of using an E-bike

Another important aspect of using an E-bike is that it does not pollute the environment. We all know the harmful effects of burning fuels and the resulting global warming. It is indirectly costing us thousands of dollars as the planet is getting hotter daily, and there are natural catastrophes every few years. Intentionally or unintentionally, all of us are adding more carbon to the environment by using gas vehicles.

Cycling helps you in saving the planet. You can at least play your part in making the environment a better place. This will, one way or the other, be monetarily beneficial to you. 

Why E-bikes?

After reading above mentioned benefits, you might be wondering why to spend money on an E-bike instead of getting a regular bicycle. Well, the answer is simple. No one has the stamina to cycle to the office daily. Furthermore, the cycling power of man is way less than a motor.

Electric bikes work on the motor and can maintain a high average speed for a long time. Thus, you can save money on fuel and car and still reach your destination on time.

The important thing is that there are no disadvantages to using E-bikes. They will be beneficial to you in every possible aspect. So get an electric bike, you won't regret this decision for sure.

Popular FAQ

E-bikes are a comparatively new conveyance option. So, naturally, people have a lot of queries about them in their minds. We have tried to answer all these doubtful questions in this blog. Let's look at the most frequently asked questions about them.

1.How much time can you save on an electric bike?

Although the average speed of an E-bike is less than cars or public transport, it is still higher than a standard bicycle. You can maintain a high average speed using this bike. Also, long traffic lanes often waste the time of people. If you have an E-bike, you can avoid traffic jams easily. So, on average, you can save more time on an electric bike than on public transport or cars.

2.Does an electric bike need gas?

No, electric bikes do not need gas. This is the best feature of these bikes. Considering the high fuel charges these days, people are finding ways to avoid gas. In addition to saving a considerable amount of money, this will also decrease carbon emissions. So, get an E-bike if you want to eliminate fuel charges from your monthly bills.

3.Is it worth getting an E-bike?

This article has already discussed how you can save money using E-bikes. To know their worth, let's briefly examine their pros again.

They have a low maintenance cost

You do not have to pay fuel charges

Cost way less than cars

Save your time

No need for a driving license

Saves parking costs

No carbon footprints

Good for environment

Health benefits of cycling

A healthy activity, thus lesser hospital bills

All these benefits show that getting an E-bike is pretty much worth it.

4.Is an electric bike the same as a motorized bike?

No, both of these are entirely different. E-bikes are electric bicycles, while motorized bikes are motor vehicles that need fuel. A motor powers both vehicles, but E-bikes use electric motors. You have to charge their battery, unlike motorbikes, where you have to use gas or fuel.  

Final verdict

Electric bikes are beneficial for saving money in many ways. They are cheaper to get and have a low maintenance cost. You do not need a driving license to operate them. Additionally, you can also save on parking charges. But the best thing is that you do not need to pay for heavy gas charges using this vehicle.

It is not dependent on fuel; instead only needs to get charged by electricity. It is the best feature you can get in any vehicle. So, naturally, it is way cheaper and more convenient than cars. Moreover, they have ecological benefits as well. You can play your part in protecting the environment by using these bikes.

In this article, we have compared commuting using an ordinary vehicle and an E-bike. Also, we have enlisted how you can save money by using these bikes. Hopefully, it will be beneficial to you.