Would you like to buy an electric bike? Although an electric bike is definitely more expensive than a classic two-wheeled bike, you should not hesitate to do it!
Indeed, you have several options to finance your purchase. Let’s take a look at a number of them. Although examples are given for the market in Belgium, similar options exist in the majority of European, US and Canadian markets.
The cost of an electric bike with an assisted pedal system up to 25 km / h varies depending on the model of your choice. Most of the offers fall into the category of 700 to 2,500 euros. For what is called a speed pedal, which has an assisted pedaling system up to 45 km / h, you can count between 3,000 euros and 9,000 euros.
A non-expensive loan
These are not small amounts, but the advantage is that you can borrow at very low rates right now. From KBC, you will pay 0.80% interest on a bike loan. For a credit of 2,000 euros refundable in 2 years, you will have to repay 84.02 euros per month for 24 months.
This means that you only have to pay 16.48 euros in interest in addition to the borrowed capital. At Belfius, the rate of a bicycle loan is 0.99%; with Argenta, it amounts to 1.49%. For the same example, this would result in refunds of 84.19 euros and 84.62 euros respectively.
The payback period of your investment
On the other hand, those who do it intelligently, should not consider this as an expense. It may well be an investment that you will recover very quickly. In fact, employers can pay their employees up to 0.24 euro per kilometer traveled by bicycle between their home and the workplace, without the latter having to pay taxes.
Suppose you live within 10 km of your workplace. In this case, you will be able to collect on an annual basis tax-free travel allowances amounting to 1,200 euros [250 working days x 10 km x 2 (round trip) x 0,24 euro]. In other words: a bike of 2,400 euros will be refunded in 2 years by your employer.
Keep in mind that your employer is not obliged to grant you an e-bike
As an alternative option, you could perhaps opt for an even more interesting formula. More and more employers are allowing their employees to take out a bike leasing.
For a fixed amount, you may be entitled to an (electric) bicycle as well as a maintenance package (the annual technical inspection from an authorized repairer, for example), insurance assistance (in case of a flat tire or a flat battery, for example) and insurance against theft.
After a period of 3 years, for example, you will have an option to buy the e-bike or even simply take it home, as it will be fully paid out and/or depreciated.
With regard to leasing, companies often get better rates than private individuals due to the fact that companies can benefit from the advantages of a group purchase.