In light of the recent rise in gas prices that the world is witnessing, thinking about managing your money smartly has become imperative.
Us as electric bike riders, we have a great opportunity to exploit the electric bike to save money that can be used for other things.
But this post is for people who intend to buy an electric bike and want to know whether it is a smart investment or not, or in other words, will an ebike pay for itself?
Will an ebike pay for itself?
As a general rule, buying an electric bike is a smart investment because it saves money in the long run, helps improve health, and is also environmentally friendly
In the next section, we will explain why buying an electric bike is a good investment.
Why Buying ebike is a good investment?
1-Fast Transportation for Daily commuting.
The speed of the electric bike is one of the most important distinguishing points that differentiate it from regular bikes, as well as motorcycles!
For normal bikes, it is normal for the electric bike to be faster due to the presence of the motor, which may help reach the bike speed of up to 28 miles.
But you may ask, is the electric bike faster than the motorcycle, so you can compare it, and I will explain to you my point of view here, especially in the city
When you ride an electric bike, you can take side streets or shortcuts, which will save you time, and thus you will get to the place you want faster.
In the case of the motorcycle, you cannot ride the motorcycle on narrow roads at high speeds because it is illegal and will endanger you
What I mean here is that you can use the electric bike more practically than the motorcycle for daily commuting within the city
2-Low operating cost.
The other advantage that will save you money when you buy an electric bike is that the operating expenses are almost non-existent.
All you have to do is charge the battery and the cost is very low compared to a car that needs costly operating expenses.
3-Low owning Cost.
When you own an electric bike, the ownership expenses are paid once and are the price of the bike and any extras you will buy for the bike
Unlike a car or motorcycle, which in addition to its high price, you will pay annual insurance expenses, licensing and registration fees, as well as taxes.
4-Low Maintenance cost.
Maintenance costs are one of the most important factors we look at when buying any vehicle
The annual costs of maintaining an electric bike are quite simple, averaging around $220
When you compare the overall maintenance cost of an electric bike to any other vehicle, the comparison will surely be in favor of the electric bike.
“You can see the below post in which we explained in detail the expected maintenance cost of the bike annually.”
What Is The ebike Maintenance Cost? (Explained)
Your purchase of an electric bike is considered an aid and investment in the public health of the planet.
By purchasing an electric bike, you will help reduce the exhausts that cause diseases produced by cars and motorcycles.
When you think about it, this point is directly beneficial to you and let me explain to you how?
With the increase in global warming, rivers will dry up, which will make sea transportation slower and more expensive, and this will raise the prices of all goods and services.
Therefore, by purchasing an electric bike and using it as an effective alternative instead of a car, you will indirectly reduce the prices of goods and services.
Why do people think owning ebike is costly?
There is a common thing (fact) that the price of electric bikes is expensive, but it is very expensive when you compare it to a regular bike and not to the rest of the vehicles.
When you think about it, you pay, for example, 1000 or 2000 dollars when you buy an electric bike, but this amount is paid once (and this is what makes people think that the electric bike is expensive) and then you start to compensate and save more money in the long run, whether this saving comes from saving expenses Commuting by car or even public transportation.
When we compare the expenses of owning a car, you will probably pay a monthly premium, insurance expenses, licenses, and gas on a monthly basis, which makes the total cost much higher than an electric bike.
How to use ebike to make extra money?
Apart from that buying an electric bike is a good investment, the electric bike can also be used to get extra money
In this section, we will explain some tips that you can do to get extra money from your electric bike
The easiest way to get extra money from your electric bike is to use it in food delivery, which will give you a great opportunity to increase your money and also take advantage of your spare time.
Based on many studies and experiences of people who have used programs such as Uber Eats, they achieve profits that may exceed $ 80 per day.
That is why this is a very good way to increase your money and also use your free time.
Another way you can get extra money, especially in crowded cities, is to set a deal with companies to deliver some goods using your electric bike.
This method is better than the previous method because the money back on you is higher than food delivery and at the same time there will be no great stress for you or the bike
Can An Electric Bike Pull a Trailer? The best Tips For A Nice Ride
YES, the electric bike will pay for itself because it is fast transportation and saves on operating, ownership, and maintenance expenses
On the other hand, your electric bike can be used to get extra money by delivering food or goods