Is It Worth It To Invest In An Electric Bike?

electric bike cost

Lately, it seems like electric bikes are everywhere. In a world where city streets are increasingly congested with traffic, commuters are looking for alternative forms of transportation. E-bikes are high speed, eco-friendly, and come with a litany of physical benefits. However, the question of cost gives many pause when considering investing in an e-bike of their own.

There’s no denying that quality bikes aren’t cheap. Depending on your personal needs, an e-bike can run well over $1,000. However, many e-bike enthusiasts argue that this trendy new technology is a solid long-term financial investment.

Thinking of investing in an e-bike? Below, we’ll outline the pros and cons of making the purchase.

How Much Does An E-Bike Cost?

It depends. However, they’re generally reasonably affordable if you know where to look. While higher-end bikes may run up to $15,000, the average person doesn’t necessarily need a bike with such a high price tag.

If you’re just looking for an e-bike for basic commuting, the price will be much lower. Story Bikes offers bikes in the $1,800 range. Our bikes can travel up to 45 miles on a single charge, come with hidden rechargeable lithium-ion batteries, and are lightweight (weighing between 33 and 39 pounds). They also come with an LCD screen, which is a standard feature. For the average person’s needs, our bikes should be more than sufficient.

Do E-Bikes Save You Money Long Term?

The average cost of a new car is $36K, and the average used car is about $19k. While an $1,800 e-bike is no small investment, it is obviously much cheaper upfront. Plus, you’ll be saving money on gas.

What about public transportation? This is where you have to think long term to see the benefits. If you’re relying on the train or bus every day, costs can add up fast. In New York City, for example, public transportation costs around $121 per month for the average commuter. That’s $1,452 per year, just a little shy of the cost of an e-bike. In less than a year and a half, en e-bike will save the average New Yorker more money than it costs.

Do E-Bikes Have Hidden Costs?

Obviously, you don’t pay the initial price and walk away without putting another penny toward your e-bike. Every vehicle will have extra costs attached here and there. With e-bikes, extra costs are comparatively cheaper than options like cars.

First, there’s the issue of the battery. While quality batteries last a long time, they don’t last forever and must be periodically replaced. A new lithium-ion battery can cost up to $500, but it can also last up to five years. The average car owner, on the other hand, spends an average of $1,500 a year on gas.

Then, there’s the question of maintenance. Even if you take excellent care of your e-bike, accidents happen. Not to mention even the best-made machines undergo normal wear and tear with time. However, bike repairs are significantly cheaper than car repairs and most e-bikes can be repaired at any professional bike shop.

Plus, many e-bike manufacturers offer a warranty. All of our bikes, in fact, come with a 1-year warranty.

Are There Other Benefits To E-Bikes?

An investment is more than just crunching numbers. While an e-bike can definitively save you money, there are also softer factors worth considering.

In a world that’s becoming increasingly environmentally conscious, an e-bike is an excellent way to reduce your carbon footprint. A regular bike can be a great alternative to a car as well, of course, but it doesn’t have the same capabilities. E-bikes can go much faster than traditional bikes and are easier on your knees and joints. In other words, pedal assistance allows you to bike farther and faster, lessening your reliance on carbon-emitting vehicles.

E-bikes also come with health benefits. While many assume riding an e-bike doesn’t burn calories, that is simply not the case. Even with pedal assistance, an e-bike will still get your heart rate up, build muscle, and boost your metabolism.

E-bikes aren’t just cheaper than public transportation and cars. Depending on where you live, an e-bike may save you time on your morning commute. E-bikes help you avoid traffic jams and bus or train delays, getting you where you need to go significantly faster.

So, Are E-Bikes Worth It?

If you crunch the numbers, a high-quality e-bike will be cheaper long term than public transit and cars. As long as you plan to use your bike regularly, it will almost certainly save you money long term. E-bikes can also be seen as a personal investment in your own health and happiness.

If you think an e-bike is right for you, we recommend starting your search with Story Bikes. We offer step-through bikes, road bikes, and commuter bikes at reasonable prices. Plus, for every bike we sell, we give a bike to a student in Zimbabwe.

Click here to learn more.