With gas prices on the rise, many people are looking for alternative modes of transportation. After the initial investment, an electric bicycle is a great way to save money. Let’s say you currently commute 20 miles a day to work. That would equal approximately $2.50 per day for fuel alone. If you calculate the weekly costs, 5 x 20 = 100 miles a week ($12.50 for fuel). At that rate, it would take approximately 18 months (in fuel alone) to recover the initial investment of your electric bicycle; however, if you consider the total cost of operating a vehicle at 40 cents per mile that would be $40 per week and payback would be a much shorter period. The cost to recharge the battery is about $25 a year which equals about 1/2 cent per mile.
An electric bicycle is a great way to save money while protecting the environment and getting you where you want to go. Let’s take a quick look at how much money you could save if you use an electric bike to replace your car.
If you intend to replace a car with an electric bicycle, the payback is almost instant.
Electric bicycles come in many price ranges. Quality electric bikes range anywhere from $800 to $1,800. If you are serious about saving money with your bicycle, then the best choice is to select a quality bike.
Another consideration is the cost of maintenance. Electric bicycles are very low maintenance; compared to a car, there are almost no maintenance costs required.
Electric bicycles provide the opportunity to get your daily exercise, just turn off the power and pedal. If you currently have a gym membership, you could cancel and save some extra money.
Finally, if you take into consideration the benefits of selecting an electric bicycle, which include saving money, reducing your carbon footprint and taking up less space in traffic, the decision is an easy one. Go electric.
