Bicycles offer one of the best exercise opportunities, and that is too in a highly environment-friendly manner. Nowadays, electric bikes have marked their impact across the world and getting popular with every passing day.
Read also: Are electric bikes good for the environment? – in this article.
How much does it cost to own an electric bicycle? For the total cost of ownership of an electric bicycle, add electricity charging costs, periodic maintenance costs, cost of safety gear, cost of tire replacement. Do not forget the cost of battery wear and tear, the lifespan of your electric bike and the cost of insurance coverage.
Well, as compared to the standard bicycle cost of ownership of an electric bicycle is not small. So, if you are planning on having an electric bike, I hope you will appreciate this piece of writing. I will be sharing some of the most common and authentic costs associated with the ownership of an electric bicycle.
Read also: Do I need insurance to ride an electric bike? – in this article.
Electric bike charging costs
Firstly, let’s talk about the variable cost – electricity part as it differentiates the electric bikes from regular bikes. So, how much do you have to bear regarding the cost of charging a bike? Well, the answer to this question depends on a variety of factors including batteries, chargers’ quality, consumption, etc.
Most of the electric bikes come with 300W to 500W batteries and normal 2 amp to 4 amp chargers. The more capacity the battery has, the longer it will take to charge. It usually takes 4 to 6 hours for a complete battery charge. A 300W battery with average use (depending on how you use electric assist levels) can take the rider for 25 to 80 km.
Read also: How far can e-bike go? What is e-bike range? – in this article.
Another crucial factor that impacts the charging regime of your bike is the use of the electric system. If you use a significant amount of pedaling assistance, your battery is going to last for a long haul of time. However, as to compare to that, if you entirely depend on the electronic aid, then you may be required more frequent charging.
The cost of KW/hour depends on the country you are living in. Check out your local electricity rates to know how much would it cost you per one charge. Costs by country vary from around 5 dollar cents per KW/hour to around 35 dollar cents per KW/hour (source).
If you live in the USA, on this page you will find electricity prices by state, updated monthly (source).
Electric bike maintenance costs
Next in the cost and expenses category comes to the maintenance and service charges that you have to bear for having an electric bike. Akin to the electric charges, the maintenance cost also depends on the various factors including the usage, paths, and bike you own.
No matter normal or electric all bikes need servicing on a regular basis and in case of any additional replacement costs will be added. An electric bike possesses electric and non-electric parts, and both need regular servicing to perform efficiently. As far as the non-electric parts in an electric bike are concerned, they require more frequent service as they have to bear more speed, force, and weight.
Furthermore, as far as the rider is concerned, there are two possibilities. First, if you love to commute on your bike on a daily basis then a service in every 2 to 3 months will keep your bike in excellent condition. However, if you only want a bike for leisure weekends, then it might require service after 5 to 6 months.
Read also: How to select the best e-bike for commuting? – in this article.
Here we want to add that you can also prolong the servicing time with a few simple steps. Visual checks-ups, frequent lubricating, cleaning, and tightening of nuts and bolts will help you to keep it efficient for the long haul of time.
Read also: How to clean your electric bike? – in this article.
Cost of safety on an e-bike
When we talk about electric bikes, there is speed and force involved, so you have to plan for safety as well. Some of the safety equipment you will need along with a bike includes the helmets, bike locks, lights, pannier bags, and a visibility vest.
All these accessories will not cost you a fortune. However, when it comes to counting or considering all costs, then we must include the costs involved in getting ourselves safe during a bike ride. You can invest in all the mentioned above accessories.
Read also: Are e-bikes safe? – in this article.
However, you can skip one or two but all in all, you will be in need of them. It is advisable to have the best quality products as it’s your own life and property that is on a stake. The cost of safety gear will average at $100 to $150.
Often, the tires used on electric bikes are different from the regular ones. It will cost you a bit more to have them replaced. For example, if you have a Schwalbe Energizer+ in your bike, then it cost you about $40 to $50 as a replacement cost.
Although it might seem a bit too much, however, when it comes to your safety and bike performance, there should not be any compromise. For the sake of argument, we would like to include the traveling, weight, and speed factor as compared to the normal bikes. The tires in the electric bike have to bear more so they require durability.
Batteries remain a bit pricey
Batteries are the most crucial part of electric bicycles. These are the bloodline of an electric bike. The choice of batteries in a bike plays the most vital role. Most of the batteries in the electric bikes estimably handles about 700 recharges before they show any sign of decline in life.
If your bike’s battery has the latest and sophisticated system like Shimano or Bosch, then it will offer you more than 1000 charges. However, that doesn’t mean that after this count the battery will lose its capacity yet there will be a slight drop in the capacity and performance.
If the battery in your bike is losing its capacity then maybe it’s time to replace it with the new one. Depending on the company and the ability of the battery the replacement may cost you between $400 and $800.
If you want to opt for a more economical option, then you can purchase a spare battery. Use this spare battery for the more strenuous and lengthy rides.
Read also: What is the difference between e-bike batteries? – in this article.
The lifespan of an electric bike
The lifespan of an electric bike depends on different factors including the brand, usage and service regularity. When it comes to purchasing an electric bike, I always recommended investing more upfront to avoid spending frequently.
Suppose for a moment if you do opt for a cheap bike then it will cost you in various other ways like maintenance, wear and tear, etc. On the other hand, the usage, the battery charging routine, and daily cleaning and servicing also impact the lifespan of a bike.
Normally a high-quality company bike offers you a lifespan of 7 to 10 years if maintained properly. Moreover, high-quality bikes come with a warranty so you can replace the parts or bike within the stipulated period.
The lifespan of a bike is the critical component to count your investment paid off time. If you did not do enough research and purchase a low-quality bike, then you will soon be in a position to replace it with the new one.
Read also: How fast do e-bikes lose value? – in this article.
Consider purchasing insurance coverage
When you choose to purchase any commuter mean, the insurance becomes essential. As in the case of an electric bike, you may be required insurance that can offer protection against the two threats.
First, comes the threat of theft or damage and second comes the accidental threat. For both, you require an excellent insurance plan.
What the costs involved in the insurance depends on the two main factors, the value of the bike and the type of coverage you chose. The monthly installment of insurance can range from $10 to $20 per month.
However, before purchasing any insurance plan for your electric bike, it is always advisable to check the insurance terms and conditions. The knowledge regarding the terms and conditions of the insurance is very much crucial for the later coverage claiming process.
Few things that need to be considered while choosing the insurance plans include the following:
- The area which comes under the insurance coverage;
- The parts which are insured;
- The amount of claim that you can make in case of any damage or loss.
No matter what insurance company you chose or what insurance plan you opt for, in case of any loss, theft or accident, you have to bear a lot to get the claim. So, make sure you keep your bike in good condition and avoid risks that might lead to property damage or accident.
Read also: How to select e-bike insurance? – in this article.
We have mentioned and summarised some of the costs that are involved in owning an electric bike. The prices or the costs may differ depending on the area and the bike you choose.
How frequent and rough your usage also impacts the cost of maintaining the electric bike. At the end of this writing output, we want to add that having an electric bike would be a life-changing decision as it is going to help you both economically and physically.
There are a variety of health and financial benefits associated with having an electric bike as well. So, in the end, it is on you to make the final call regarding benefits and the costs.
Read also: How much does a good e-bike cost? Ultimate guide with examples – in this article.
Is it possible to rent an electric bike long term? Long term rental schemas do exist and you may want to check in the local area where you live. Usually, long term rental options will be in place either with large electric bicycle brands or with large sports or e-bike retailers. This will be different by area and you will need to check your local offers.
Read also: Long term e-bike rentals in the UK, France and Germany – in this article.
Can I lease an e-bike with an option to buy at the end of my lease? E-bike leasing options are only starting to be developed on the market. Major banks and insurance companies are developing their programs to support long term leasing with an option to buy.
Read also: Soon e-bikes could be rented for 20-30 euro per month – in this article.