But despite their higher price, electric bikes are the new favorite way for the public to commute, explore the outdoors, and get some great exercise. When buying an electric bike, its important to consider what kind of bike youll want so you can budget accordingly. Whether you need a lightweight e-bike for just an everyday commute or are looking for something high-powered with versatile use cases, theres an electric bike out there for everyone!
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The average cost of an electric bike is between $2,000 to $. However, prices range as low as $300 or as high as $8,000 or more. This all depends on the type of ride and the brand youre purchasing from.
High-end electric bikes can even cost up to $10,000these generally have unique or luxury features that increase the cost significantly. From a practical standpoint, the performance and utility of high-end ebikes will not differ greatly from more affordable alternatives. That said, some are willing to 4x the cost for a slew of bells, whistles, and gizmos. If a brand-new electric bike is not within your budget, you can also look into the used bike market for a good model thatll serve you well.
There are also other ways to finance your electric bike purchase. For example, many employers offer commuter benefits that can be applied to electric bike purchases. Most ebike brands will offer some sort of financing option through a 3rd party like Affirm or PayPal at check-out. Make sure to conduct plenty of research and visit multiple stores to scout out the best possible deal.
Once youve got your hands on a good deal, you will need to account for additional costs that come with owning an electric bike, such as maintenance and charging.
Like traditional bicycles, electric bikes wear out over time and require upkeep. They have some different components than conventional bikes, such as motors, batteries, displays, and controllers, some of which require extra attention.
Here are some typical maintenance costs you will encounter:
It is recommended to replace your battery every 700 to charges. Depending on the model and type of battery, this can cost you between $350 to $800. You also need to account for charging costsfor every 1,000 miles, charging can cost about $1.28 to $4.28.
How far an electric bike can travel on a charge depends on many factors, such as the weight of the rider, the terrain, and the battery type and size.
Most electric bikes can typically travel between twenty to sixty miles on a single charge. Some high-end models, however, are designed to travel more than one hundred miles on a single charge. These bikes are ideal for commuters who travel long distances regularly but also come with a higher price tag.
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Besides maintenance and charging, here are some important additional components you should invest in:
When exploring different bike options, its important to determine what you need the bike for. If youre planning on purchasing your bike for commuting, try not to get carried away by purchasing a high-end electric mountain bike with additional features you may not need.
Save that extra cost and invest it in maintaining your bike, instead, so that it can serve you long-term. If you want to ride your bike through snow, singletrack trails, or rugged terrain, the extra investment in a high-quality electric mountain bike will be worth it.
At the end of the day, theres more to the cost of an electric bike than its price tag. Maintenance, security measures, and charging are all cost considerations you should understand before purchasing your first electric bike. Its also a good idea to have a basic understanding of how e-bikes work before making your first electric bike purchase!
3. Maintenance: like all vehicles, e-bikes also need some love to keep them in tip top shape. They usually require annual tune-ups, new tires, brake pads, and having the battery replaced every 2-5 years on average. Over a period of 5 years, maintenance can cost $754 per year for e-bikes. A car also requires tune-ups, and having the engine oil and other liquids, the air filter etc. changed annually. A year in maintenance costs can add up to approximately $1,186 according to the American Automobile Association (AAA) in . Its expensive maintaining any vehicle but e-bikes definitely come in cheaper. And dont forget, Momentum e-bikes come with a warranty. To learn more about our warranty, hit the link, select your location and search warranty
4. Parking: with cities growing at the pace they are, it has become impossible to find available parking, let alone for free! Daily parking rates can cost ~$40 for expensive cities like New York. Whats more, research done by INRIX also shows we spend $345 per driver per year on wasted time, fuel, and emissions looking for parking. With e-bikes we get more flexibility and parking is always free. Most cities also have designated areas just for bikes. Need we say more?
5. Insurance, License, Taxes, Depreciation and Car Payments: if you own a car, you know first-hand how troublesome this is. Even without car payments, all other costs can add up to ~$5,668 per year according to AAA. E-bikes, despite being classified as a vehicle, do not require license registrations, taxes, or insurance by law. We do, however, recommend riders obtain insurance for safety reasons just in case. Better safe than sorry!
Check out our article 17 Bike Safety Tips For A Great Ride.
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