Financial benefits of using an E-bike in Canada

With numerous benefits ranging from financial benefits to health benefits, electric bikes are gaining more ground in recent years. Over the years, electric bikes have become more popular. Today a good number of commuters prefer e-bikes to others. This is due in no small part to the various benefits electric bike offer riders.

Generally, riding an e-bike offers great health benefits. However, using an e-bike is far more beneficial than just helping you stay fit and active. An electric bike can help save your money too. With an electric bike, you can always save enough time and money – and remember that “time is money”.

Thinking of getting an e-bike to cruise the streets of Canada. We will explain to you the ways you can benefit from your e-bike financially. Keep reading to see what we mean.

Related article: Health Benefits of Riding an E-bike

 

Advantages of an e-bike – The financial standpoint

E-bikes are more than just convenience. They hold a host of benefits for you. The good thing, most of these benefits are on the plus side of the CAD scale. 

Some of these benefits include:

With E-Bikes, your Health and Bank Account are Safe

The first financial benefit we will analyze is your physical health. Good health is not all about money. There are other factors that come into play. However, the importance of good health for you cannot be understated.

One thing is certain, the healthier you are, the less money you spend going to the hospital. Visiting the hospital and getting medical care can be expensive, even with health insurance coverage.

With E-bikes, you can stay physically fit as well as fend off potential severe illnesses. Riding your e-bike daily will save you from spending a lot on medical bills. As we grow older, keeping in shape tends to be more difficult, but with an e-bike, you are primed to stay in good shape.

Recently, it was discovered that electric bike users enjoyed a massive increase in fitness and mobility. Also, people with mobility issues are more likely to ride an e-bike instead of a conventional bike. Mostly because of the ease of operation, e-bikes are ahead of other types of bikes around. E-bikes help you stay fit, whether or not you have mobility issues.

Related article: How an Electric Bike Works?

Experience Free Workout – No more Expensive Gym Memberships

Electric bikes can help save you even more money when it comes to keeping fit. Most people have expensive gym memberships. Some gym membership often cost up to hundreds of thousands of dollars annually. As expensive as some gym memberships are, most people still find it difficult to make it to the gym regularly. Isn’t that a negative expenditure that you would rather avoid?

If you have an electric bike, you can always enjoy a proper workout without having to pay expensive gym membership fees. Almost all electric bikes come with a pedalling option. Pedalling is capable of helping you build your core strength while burning fat deposits. Also, e-bikes offer a low workout impact, which is great for people suffering from limited mobility.

Related article: An In-depth Comparison: Electric Bike Vs. Motorcycle

Unlike the conventional bike, which requires 100% pedalling to move, e-bikes can switch to the motor system to power the bike. This means you can take a break to renew your strength before pedalling again. This is beneficial for people who are just getting back in shape or recovering from serious sickness. You can get yourself back to normal fitness levels without going through rigorous exercise. With time and consistency, you will get back to good shape, with a plus – enough money in your bank account.

With E-bikes, you can easily earn some cash daily

If you own an e-bike and you live in Canada, you can easily make good money. Canada is home to many companies looking for people who can deliver documents, flowers, food, and other items. Even though these jobs don’t have high pay, with time; you can make some cash. In fact, with a side delivery job, you can earn enough to afford a new e-bike. Once you regain the initial cost outlay for your e-bike, the rest will be pure profit. 

Another way to make more money with e-bikes is to start your e-bike rental firm by purchasing multiple e-bikes. If you start with a small investment, you can easily start making profits before the end of the first year. Only a few businesses can bring profit within such a time frame. So, if you want to start up a business, this could be an excellent chance for you.

Related article: Are e-Bikes really Economic?

E-bike save a lot of time

Being conscious of how we spend our time every day is essential. Although most people don’t realize this, going to work and coming back can take a lot of time from you. Also, what most people don’t know is that time is valuable. Imagine having a few extra hours every day. You would have more time on your hand to plot out strategies that will improve your financial life.

With a good side-hustle at your disposal, you can always make good use of your extra hours after work. You might be wondering how is this even possible with your tight schedule. How do you find the time for such a side-hustle? Avoid heavy traffic with an e-bike. 

Most people choose an e-bike over other forms of transportation because of the ease of traffic access. This helps cut down the time spent commuting to work and back. This helps you to get extra hours for daily side-hustles.

E-bikes can easily move within traffic without getting stuck. Also, Canada has bike lanes which help you avoid traffic. This means your commuting experience will be more comfortable and fast. Consequently, you’ll have enough time to spend outside your work schedule. Also, you’ll have no worries about being late to work because your e-bike will help avoid the usual morning rush.

Parking your E-bike is free – No parking cost

It is no hidden secret that nobody likes to pay for parking. However, if you live in Canada, it’s inevitable. Parking charges are often expensive and annoying sometimes. Depending on your locale, you may even need to rent a parking space at your residential building. 

Many apartment inhabitants often complain about the stress of having to pay monthly fees for parking. Owning a car in Canada can become more expensive with an increase in parking space rent.

There is a simple solution that will help you save money. You can always opt for e-bikes rather than purchasing a car. With an electric bike, you don’t have to pay for parking space ever again. You can easily park your e-bike in your apartment at night and worry less about thieves or parking spaces.

This way, you can save up hundreds of dollars in parking fees annually.

Also, while going to work or running errands, you’ll have no worries about filling a parking metre. Most cities in Canada have bike racks where you can easily park your e-bike without paying a dime. With this, you can save money on parking meters and use it for other important investments. 

Related article: A Comprehensive Guide to Electric Bike Maintenance

Low advance payments cost and low maintenance cost

There are lots of advance payments whenever you want to purchase a vehicle in Canada. Let’s take a new car for example. When getting a car, you’ll have to pay a substantial advance payment, delivery charges, taxes, insurance, and also dealer fees. After this, you’ll have a compulsory monthly payment of hundreds of dollars to complete your payment.

However, with an electric bike, this is not the case. With less than a thousand dollars, you can easily purchase a standard e-bike. No hidden fees, no dealer fees, no taxes, and you’ll certainly not have a monthly payment. Even if you can’t pay at once for your new e-bike, the required monthly payments will be significantly low. If you compare this with purchasing other vehicles, an e-bike is far affordable and attainable for those with smaller budgets.

Also, the maintenance costs of an electric bike are very affordable. We will use a car for perspective here. Compared to maintaining a car which often costs more money, you can maintain your e-bike with little funds. The average cost of driving a car in Canada is about 60 cents per mile. The cost of operating the vehicle includes general maintenance, tyres, and gas.

If we compare the costs of operating a car to that of operating an electric bike, that’s a big difference. The cost of operation for an e-bike in Canada, which includes battery replacement, electricity cost, tyre costs, and general maintenance cost, is about 20cents per mile. This is a big saving margin, which can help you save a whole lot of money over the years. This is another financial benefit of using an e-bike in Canada. 

Also, another major financial benefit of an e-bike is that they are low maintenance assets. There is little to no chance of your e-bike breaking down or malfunctioning. They rarely develop mechanical faults that require a need to visit a local garage for repair. It’s only when you refuse to take care of your e-bike that it might need to be fixed. 

On the other hand, cars tend to develop faults regularly even with proper maintenance. It’s disappointing, especially if your car breaks down when you have a serious appointment to make  First, you may miss the appointment. Secondly, having to tow the car to a garage will cost some dollars too. After that, the repair costs can also affect your bank account significantly.

Maintaining a car is far more expensive than maintaining an e-bike. Most especially when you’re the type that goes out a lot. Sometimes, the cost can be shocking when summed up. Not to mention the everyday gasoline you’ll have to pay to move around. E-bikes help you avoid all of that. They help you save money.

E-bikes can Rely On Solar Energy for Easy commuting!

It is no more news that solar energy is cheaper than gasoline. Luckily, some e-bikes make use of solar energy to power the e-bike motor system. With a solar-powered e-bike, the only required energy source you need to get your e-bike going is the sun. 

Once the installed solar panels are well-positioned, your riding experience is limitless. Manufacturers are providing more upgrades in the e-bike world, and solar energy is one of the recent upgrades.

Nowadays, most e-bikes rely on solar energy to get their bikes going. Solar energy is amazingly cheap, as the only thing you need is the sun, which is a free gift of nature. The only thing you will need to purchase is solar panels. This is a one-time big purchase that can enhance your expenses in the long run. As long as you have the sunlight, you are good to go. 

E-bikes are environment-friendly

Generally, protecting your environment is equivalent to protecting your bank account and wallet. With less need for gasoline, the cost of some other essentials in the market reduces. will reduce. Also, for better fuel availability, the world has to be more sustainable. Riding an e-bike can help keep the environment safe as less carbon is emitted to the atmosphere as opposed to other transportation modes.

Ozone layer depletion and the greenhouse effect are all attributed to excess emission of carbon to the atmosphere by vehicles and factories. 

However, with more e-bikes than vehicles, we can easily reduce the increasing greenhouse effect on our planet. We all can pay a small price of riding e-bikes to improve mother nature.

Related article: Tips for Electric Bike Beginner

 

Health benefits of an E-bike

E-bikes are beneficial to our physical health in many ways. In fact, overweight individuals and individuals with little or no regular exercise routine can benefit greatly from riding an e-bike.

To achieve great health benefits and improve your physical activities, exercising your body is essential. Your engagement in daily cycling and jogging has proven to be effective in limiting exposure to diabetes.

Active cycling reduces the rapid rate of mortality, diabetes (type 1 & 2), and cancer incidence. Riding your e-bike daily is a form of exercise that can help you to lower the risk of being exposed to cardiovascular disease.  Most people who own an e-bike have significantly healthier lifestyles and more physical fitness compared to those who do not exercise in one form or the other. 

Also, people with diabetes (type 2) who ride e-bikes always are more active than vehicle users. It is believed that cycling is more beneficial to diabetes patients than walking. Diabetes (type 2) patients are implored to opt for e-bikes instead of vehicles where possible.

 

To sum it up 

In conclusion, there are different ways through which you can benefit from buying an e-bike. Electric bikes are not limited to just saving your money, but they can also earn you more money. E-bikes offer exceptional health and financial benefits and are practically the best way to enjoy your time outdoors. Get one today!

Related article: How To Choose An Electric Bike? A Complete Buying Guide

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