How much money can I save using an E-bike in Canada

Transportation is one of the most important human needs. Dating back to the beginning of time, man has always had the need to move from one place to another. 

Since the invention of the first bicycle in 1817, the two-wheeled automobile world has continued to experience a technological revolution. This has led to the creation of e-bikes with impeccable functionality.

Electric bicycles came into the limelight in the 1890s. The first electric bicycle was invented by a U.S citizen named Hosea W. Libbey. He created the first bicycles that were propelled by an electric motor in contrast with the traditional bicycle propelled with pedals. The usage and popularity of e-bikes have continued to increase throughout the years.

Today, China is the world’s largest producer of e-bikes. This does not come as a surprise as approximately 210 million e-bikes are sold each year. In Europe, over 84 million e-bikes are sold each year. 

E-bikes are gradually gaining grounds worldwide. They have even found their way into pop-culture. They are being used by top celebrities, seen on the cover of magazines, and even made the way to the runway. E-bikes are the new trend!

With great features such as zero combustion, these bikes have become a major part of the green revolution movement in Canada. These bikes come in different shapes, sizes, colour and are built to meet different needs. 

Purchasing and owning an e-bike will not only ease your movements within the cities of Canada, but it will also save you a ton of money.  This means you can save a lot of money while saving the mother earth from toxic carbon monoxide gas. It’s a win-win situation.

 

How an E-bike can save you money

Over the last few years, Canada has experienced a sporadic increase in the sales and usage of e-bikes. You might have seen one on your streets, at work or at the store. Due to the wide range of unexpected benefits they offer, people have grown to love them. Plus owning one surprisingly comes with some financial benefits.

There is a general misconception about e-bikes. Many people consider them to be very expensive. It is seen as a luxury item only the rich can afford. This, however, is not true. Come to think of it, how come they’re seen almost everywhere if they are “luxurious and expensive”?.

Although e-bikes may have high initial prices (depending on so many factors), it may come as a surprise to you on how much you can save by purchasing one. Let’s take a look at how owning an e-bike can save you money:

Does not use Gas

For cars to function, they need gasoline. Car owners in Canada spend a lot of their income on fueling their cars. Statistics have shown that Canadians consume about 41 billion litres of gasoline annually. This amounts to about 110 million litres per day. With this inane number, you can only imagine how much money is spent on gasoline each day by car owners.

To charge an e-bike battery costs less than 3CAD. An e-bike takes about 3-4 hours to charge. When fully charged, they can travel a distance of 20 miles or more. If you were to be using a car,  it will cost you more than 70 CAD to travel the same distance.

An e-bike is very efficient. Even more than most cars. Its electric motors and lithium-ion battery contributes to its negligible weight. It is easy to use and saves you the worry of increment in gas prices.

Low cost of maintenance

Think about it. If you add up the cost of monthly car maintenance, insurance and storage, it will definitely add up to something. Now, imagine saving this monthly, by the end of the year, you will have nothing less than 3000 CAD or more saved.

You could invest this money to yield more or take your family on that vacation they deserve. Owning an e-bike is also a great way to maintain your car. A car that is not used regularly will last a lot longer. Can you see the financial benefits of an e-bike now?

It saves time

Time is money. Car owners in Toronto know what it is like to stay stuck in traffic for hours. They are used to being a few minutes late to work or events. Toronto is the most congested city in Canada, this explains the traffic.

However, other cities also experience crazy traffic jams such as Vancouver, Montreal, Ottawa, Hamilton and Quebec City. If you live in Halifax or Winnipeg, you might also want to consider getting an e-bike.

Spending so much time in traffic can be tiring and time-wasting. Having extra hours in a day can be a great way to make money if used judiciously. Getting stuck in traffic while going to work and back home steals your time. To avoid traffic, you might have to leave home early, which at the end of the day is stealing from your sleep hours. Not getting enough sleep is detrimental to your health.

Having a few extra hours everyday can give you the chance to engage in some side hustles. Everybody needs more than a stream of income.  These days, a lot of office workers have things they do on the side. The question is how do they find the time? You could buy yourself time by cutting down some hours from your commuting time.

E-bikes can get you out of traffic in little or no time. Majority of the cities in Canada have bike lanes that help you avoid traffic totally. You can be sure to get to work or that event early. No more time-wasting in traffic. Impress your boss by getting to work on time and use the extra time on your hands to make more money for yourself and your family.

In big cities with regular traffic issues, e-bikes can really come in handy. It saves you the headache of traffic and gets you to your destination in no time. Purchasing an e-bike in Canada is a financial and time-wise decision to make. 

Save money on parking

Unlike cars, e-bikes can be parked anywhere. Just like your traditional bicycles, they can be locked to a pole. No need to do the merry-go-round in order to find a parking space. Plus, e-bikes do not require you to pay hefty parking fees.

Car owners in Canada are tired of paying for parking. In actual sense, nobody likes to pay for parking but if you live in cities like Toronto, it is totally unavoidable. Parking fees can be expensive depending on your location. If you live in big cities such as Toronto, Vancouver or British Columbia, you will pay more for parking. 

These cities have the highest cost of living in Canada. It can be as bad as renting a parking space at your residential building. You will pay for your parking spot either monthly or annually.

Many apartment dwellers in Canada are burdened with monthly parking space payments. Owning a car in the city can be very expensive to maintain. You might pay less if you live in the countryside. However, there is a way you can totally avoid paying for parking and saving that extra cash. Owning an e-bike instead of a car can cut out the monthly parking allowance from your budget. 

You can bring it to your house when you get back from work. When running errands, you can also park for free. Many cities in Canada have bike racks where you can safely park your bike without paying. This will definitely save you money over the years!

To crown it all, there is absolutely nothing like insurance or annual registration renewal. What a way to spend less!

Cheap and affordable Adventures

E-bikes offer you a great riding experience. You can tour and experience your city better. You will be sure to enjoy a better view of everything around you. So instead of spending money on other expensive fun activities like going to the movies, skydiving, or racing cars, you can ride your e-bike around your city. 

You don’t necessarily have to spend a ton of family vacations. If you have a fleet of e-bikes, you and your family can go on a day or two-day trip to a place near your home, with your e-bike.

Good for your health

Thousands of deaths are recorded each year by the Canadian public health service. These deaths are as a result of chronic diseases caused by inactivity. Obesity and type 2 diabetics are a part of them. Statistics have shown that about two-thirds of Canadians are inactive. This has caused an economic burden on the government of Canada.

This sedentary lifestyle is quite dangerous to the health. If your work takes the better part of you and you do not have time to register to a gym, you might want to consider purchasing an e-bike. Plus, gym membership in cities like Toronto and Vancouver can be expensive. Why not invest in an e-bike and get a little bit of workout every day.

When it comes to exercising and maintaining a healthy lifestyle, e-bikes can save you even more money. A lot of people have expensive gym memberships that cost hundreds of dollars a year and they do not even have the time to make it to the gym. Even when they do, they are either too tired from a long day at work and traffic or can’t keep up with eating healthy. 

On the other hand, if you have an e-bike, you can get yourself a good workout while heading to work and back. Instead of spending money on unhealthy junk food, you can give yourself a quick ride to the nearest grocery store and get yourself some healthy food.

E-bikes provide low-impact workout which is good for building strength and burning fat. Therefore, if you suffer from low mobility and you are trying to get back in shape an e-bike is the best solution. Unlike the traditional bicycle, you do not have to pedal all the time. You can give yourself a break from pedalling if needed. You do not have money and time to go to the gym? It’s fine. Go get yourself an e-bike!

E-bikes are a great way to exercise your muscle. They engage all the muscles in your body keeping them strong and toned. Unlike monthly gym membership, it’s a one-off health investment that pays!

Make money off your e-bike

Do you know that your e-bike can earn you extra cash? How? It’s quite simple. If you live in large cities or a city that has a lot of commercial companies, count yourself lucky. Many of these companies are looking for people to deliver items such as food, flowers, documents etc. 

Of course, these jobs might not pay you that much but they can earn you some quick money. The money you earn as an e-bike rider can in the long run pay for the bike.

Another way to make money is to have a fleet of e-bikes and use them as rentals. You could create your own e-bike rental company. Many commuters will use your services. This might not give you huge immediate profits but if you are looking at building a business that will outlive you, you might want to consider this.

 

Conclusion 

Since the inception of e-bikes in the mainstream, a vast majority of individuals have taken up the new trend. They come with some technical features which make them even more cool to ride. People love e-bikes for various reasons. 

There are several financial benefits that come from owning an e-bike. Some of these benefits include the ease of use, speed, balance or diversity of use. 

Not only is an e-bike more financially efficient than a car, but it is also good for your health and environment. If you ride everywhere you go, you will become much healthier in no time. 

They are not recommended for people who commute for more than 20 miles.  However, if you live 20 miles away or less from work, church, mall, spa etc., they are the perfect means of transportation. The icing on the cake is that you do not have to spend money on gas every other day. Get an e-bike today!

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