If you’re considering buying an electric bike then it’s very likely that you’re not just comparing ebikes with ebikes but you’re also considering other types of transportation. For a start there’s a standard bike, there’s public transport, a car, moped, motorcycle, walking, quad, need I go on. You’re probably considering an electric bike because you want to get a bit fitter but think you’d struggle on a standard bike, and you want to save money on other forms of transportation.
Well, the good news is you’ve made a good choice. An electric bike will save you money over other forms of transportation. Why?
- You don’t need to buy road tax
- You don’t pay any congestion charges
- You don’t need insurance
- The batteries are small and don’t cost much to charge them
So exactly how much will an electric bike cost you?
Let’s take a 3 year period, which I think is a reasonable life expectancy for a bike.
Purchase Price: £1,000 (you can buy a decent ebike for that, check it out)
Battery Charging: Let’s assume you do 150 miles per week, so 7,800 miles per year and 23,400 over the 3 year lifetime of the bike, that’ll cost you in electricity: £35.00
Yes you read that right…thirty five pounds for three years!
Servicing: Halfords do a 3 year premium bike servicing plan for £60. But I’m sure an independent shop would charge around the same. You might also need new tyres along the way, let’s put aside £60 for that. That’s £120 set aside for parts and servicing.
Total 3-year cost: £1,155
Cost per week: £7.40
What does £7.40 per week buy you in terms of a car, bus pass, train card, etc?? Not much at all. So yes swapping your commute to an electric bike will undoubtedly save you money. What are you waiting for?
Please note something I haven’t accounted for here is safety equipment and accessories. You might already have these but please do ensure you have hi-visibility clothing, helmet, lights and other safety equipment before you go out on the road. Realistically you might need to budget £100+ for all this.