Having an e-bike as your primary commuter can boost your chances to get some exercise and a bit of sun. These useful tools can also save you quite a bit of cash, depending on where you live and how much you need to travel. While an e-bike will take more planning for activities such as errands or social appointments, skipping the car and riding your bike can be great for your budget.
Electric Bikes Are Cheap to Buy
E-bikes are one-time purchases that can last for years when properly maintained. An average-sized rider can expect to spend no more than $1,500 to $4,000 for a high-quality bike that will cost just pennies to charge. If you want a folding bike or are larger than average, you may need to spend more to get one that you can be confident in.
The average cost of owning a new car in the United States can run as much as $900 per month, or $10,800 annually. A used car can cost less than that, depending on your payment schedule, but there’s a good chance it will cost more in maintenance. Once you pay the car off, you will still have to pay for
- registration and taxes
If you plan to do your own maintenance, you will need a space to work and tools to get the job done. Sadly, because few people have the savings to cover an emergency, the choice to buy a different car instead of paying for a major repair is often forced on drivers.
Electric Bikes Don’t Require Insurance
You don’t need insurance to take your bike to work, shopping, or out to coffee with a friend. You will need to invest in safety gear to make sure that you are protected should you take a tumble on a biking path.
But if you want to be on the save side, here you can find the best e-bike insurance companies in the US.
Because an e-bike can be a lot of fun as well as your primary commuter, you will need
- a helmet
- biking gloves
- elbow and knee protection
- reflectors front and back
for your weekend rides as well as your commute. These can obviously work as well on your way to the office as they do on your weekend outings. If you plan to place the elbow and knee protection over your work clothes, you may need adjustable padding to allow for bulk. You may also choose to shower and dress at the office, which may require some spare toiletries and a backpack to carry your clothes.
E-Bikes are Cheap to Maintain and Run
E-bikes are built to run in just about any weather. When it comes time to do your weekly maintenance, take care not to expose your e-bike to strong jets of water. Instead, wipe down the battery and all electrical components with a damp cloth.
Use a brush to clean away any dirt or sand on the bike before wiping that clean as well. Carry a cloth with you on your regular commute that you can use to wipe the bike down if you get caught in the rain. Avoid leaving your bike out in the weather; snow, rain, and too much sun can all be hard on the bike.
Take the time to lubricate the bike after cleaning it. Focus on the derailleur, chain, and cables. While you let the lubricant sit, carefully review your bike frame for
- flaking or buckled paint
- loss of gloss on the paint finish
- anything worn or loose
Once the lubricant has been in place for a few minutes, wipe away the excess with an old tee shirt. Avoid using any fabric that may leave lint in the lubricant.
A small set of Allen wrenches, some screwdrivers and a small crescent wrench may well be all that you need to keep your bike on the road. If you ride more than once or twice a week, you will want to clean your bike to prevent letting dirt sit that can damage the frame finish.
An unlubricated bike will be noisier and parts will fail sooner. To have a spot to work on your bike that won’t mess up your home, buy yourself a new vinyl shower curtain every few months. Use the old one as a space to clean and lube your bike before discarding it when you get a new shower curtain.
How Much Money Can You Save per Year if You Commute by an E-bike?
A lot of that depends on the length of your commute, the cost of fuel, and your insurance. However, if you are driving 15,000 miles a year and spending $100-150 per month on insurance, then even without a car payment, your vehicle will cost you almost $400 per month. In a year, you can buy either a highend e-bike or two mid-priced models and have nearly free transportation for as long as it lasts.
In conclusion, you can save thousands of dollars per year if you commute with an electric bike instead of a car. This is especially true if you sell your car and rely only on the e-bike.
Here is a table with the annual expenses of a car and an electric bike:
|eBike||$2,000||$100||$60 ( electricity )||$100|
What Are the Disadvantages of Electric Bikes?
Depending on where you live, an e-bike may prevent certain challenges. You will need
- sunblock and a hat
- rain gear
- cold weather gear
- a reflective vest for busy commuting times
- a carrying bar with a tie down strap
- a good backpack
However, if you can let your employer know that you plan to commute by e-bike, you may be able to change up your work schedule. Try getting to the office an hour earlier to avoid heat and traffic. Consider working from home on days when the rain is heavy and the snow is deep.
Many employers are very concerned about the number of employees leaving during the Great Resignation. They are happy to make adjustments for the remaining employees. If you are interested in getting rid of your car and customizing your commute with an e-bike, discuss your options with your boss. They may be willing to help.
Read more: How to Budget Groceries for One
It should also be noted that e-bikes can be targeted by thieves. If your bike parking area at your office is not secure, or if you just don’t want to worry about losing your e-bike to theft all day, consider getting a folding e-bike with a carrying case. A large rolling duffle bag can also work very well as a place to store your folded e-bike. Simply fold up the bike, load it in the duffle and slide it under your desk or stand it in the corner of your office.
Can I Invest in Electric Bike Public Companies?
If you have the dollars to invest, there are many public e-bike companies with bright futures.
|Giant Bicycles||Bikes, eBikes, etc.||TPE: 9921|
|Bosch Limited||Motors, sensors, etc.||NSE: BOSCHLTD|
|Merida Industry Co. Ltd.||eBikes||TPE: 9914|
|EZGO Technologies Ltd||eBikes||NASDAQ: EZGO|
|SHIMANO INC.||eBike Components, Motors||TYO: 7309|
Commuting via an e-bike will take some planning. If you forget something at home, you can’t just dash home and grab it. However, the savings can be substantial once you get rid of your car. Additionally, you can get some exercise and fresh air on the way to work and clear your head at the end of a long day.
Once you own an e-bike, look for a maintenance class or video that you can use to teach you the ins and outs of maintaining your bike for the long term.