Ebike popularity has exploded in recent years for many reasons, not the least of which is the cost advantage compared to driving a car. They are also environmentally friendly, provide good exercise and can make your commute a lot more fun. Even those who do not replace their car entirely with an ebike will see the advantages of getting more exercise and saving on fuel costs.
The initial cost of an ebike can vary greatly depending on the model, quality, battery, motor and other features. Some ebikes can even approach the cost of an economy vehicle. Though this initial cost is high, you will still spend far less on maintenance and fuel. Ebikes also do not require a license or insurance which is another cost savings.
Here we will look at what you can expect to pay for an ebike, maintenance costs and how this stacks up compared to an automobile.
Initial Cost of an Ebike
Most ebikes will cost somewhere between $2000 and $6000. You can find plenty of features and high-quality within this price range. However, higher end bikes can reach up to $10,000 and beyond. In this higher range you can often expect a longer lasting battery, extended warranty, and greater range among other advantages.
Ultimately, what you pay will also depend on how you plan to use the bike. For example, a casual rider taking their bike out a few times a week will pay less for a bike than someone who needs a reliable daily commuter bike. Someone who plans to go off-roading or take extended trips with a bike will likely need an even more expensive and durable model.
What Affects Cost?
Battery: A battery is the most expensive individual component of your bicycle with quality batteries costing upwards of $700. However, this is an area where quality counts. When you have the option to get a higher-quality battery with your bike, it is almost always to your advantage. Cheaper batteries will degrade faster and not provide the same performance. While their initial cost may be a few hundred less, you will need to replace them sooner.
Motor Power: Less power (watts) means less expense but your bike’s motor power can significantly change your riding experience. The less power your bike has, the slower it will be to accelerate. This is important to keep in mind if you plan to ride your bike in hilly areas as less powerful engines will struggle.
Parts and Materials: There are a lot of moving parts when it comes to an electric bike. The more expensive your bike, the more likely these parts are to consistently work smoothly and provide a better riding experience and durability. However, again, you do not necessarily need the top of the line bike for most standard riding. If you plan to stay in urban areas with smooth pavement, a lower quality bike will still perform well and last for many years. It is only when you plan off-roading and extended rides that you will need to look more closely at this aspect of your bike.
Economical Conversion Kits
If you already have a traditional bike and can’t decide if you should upgrade to an electric one, you may be able to convert your current one. While old conversion kits could be difficult and require technical know-how, the Magnum Bikes R2 Conversion Kit is the fast, easy way to convert your traditional bicycle.
Coming in at $1,350.00, the conversion kit is several hundred dollars cheaper than even the most economical ebikes. As a bonus, you will not have to figure out what to do with your old bike once you experience how much more fun an ebike is.
With this kit, you get everything you need to electrify your riding experience including:
- 500W 8FUN motor with complete rear wheel which is available in either 26″, 27.5″ or 29″
- 48V/ 13Ah battery for an extended range
- LCD display with informative multi-function readout
- Electric Brake Levers, Thumb Throttle, Pedal Assist Sensor
- Rear Battery Carrier Rack with Integrated Controller Box
- Complete, easy to follow instructions
Cost of Maintaining an Ebike
Just like with owning a car, there are expenses even after you have paid for your ebike. However, they are significantly less than what a car would cost: Some common maintenance, repair and replacement costs you may encounter include:
Replacement Battery: A battery is the most expensive individual component of your bike. Most bike batteries will run around $700-$1000 though some can approach $1500. How soon you need to replace your battery will depend on how often you ride, the initial quality of the battery and how well you maintain the battery. However, all things considered, most batteries will last at least two years but rarely more than four.
Replacement Tires: Most tires will need to be replaced after 3,000 to 5,000 km of riding. You will know that replacement is needed when the treads are worn down and when the tire does not hold pressure. Ideally, you should replace the tires before this happens and causes further damage or injury. Fortunately, replacement tires are only around $50 to $60 per tire.
Tune-Ups: Regular tune-ups are essential for maintaining your bike’s safety and extending its longevity. Ideally, you should perform a tune-up every 800 km or ever 6 months, whichever comes first.
If you are new to bike ownership, performing a tune-up yourself can prove difficult and possibly more expensive than a professional job. At Epic Cycles, we offer tune-up services that include a 21-point inspection, tire inflation, brake adjustment and much more for under $80.
Annual Cost: Cost will vary for each rider. While we can pretty easily predict how long tires or a battery will last under normal conditions and regular use, it is harder to estimate potential repair costs and maintenance. Generally speaking, you can expect to pay around $300 annually to maintain your bike.
How Much Can You Save?
A recent study showed that Canadians spend between $8,600 and $13,000 annually on car ownership. Compare that to an ebike’s average yearly costs of $3000 or less and the cost advantage is undeniable. With a bike you do not need insurance or fuel plus repairs and other maintenance will be cheaper. You could, in theory, buy a new high-end bike every year and still not approach the yearly costs of a car.
Even if you only plan to use your bike part time while keeping a car, you can still see cost advantages. By using your bike more often, you will reduce wear and tear on your car. You will also use less fuel.
Non-monetary Advantages
Exercise: By replacing all or most of your commuting with bike travel, you can burn hundreds of extra calories. Depending on your fitness goals, your morning commute could replace the time and money you spend on the gym.
Time Savings: While a bike is inevitably slower than a car, it can save you time if you need to commute through traffic. On a busy road, your compact ebike can take advantage of a bike lane or squeeze through traffic where a car cannot.
Reduce Your Carbon Footprint: As a zero-emissions mode of transportation, an ebike reduces the strain on the environment. If more people used both traditional and electric bikes, we could see a significant improvement in the environment. Additionally, this would also mean less traffic for people who are on the road which translates to less stop-and-go type driving that uses more fuel.
Choosing the Right Ebike to Fit Your Needs and Budget
Unsure of what kind of bike you need? Epic Cycles is here to help. Browse our complete electric bike catalogue or contact us today!
