Let’s compare average fees for a car, public transport, and an electric bike to see the big picture. Your payments will either be a one-off fee or recurring fees. (Where we got our data: The numbers presented in this article are based on average US prices for New York City (NYC) as a point of reference as of 2021 unless stated. Please note every city is different.)
A new car like the Nissan Rogue, NYC’s most common car, will set you back around $27k, versus $2,500 for an e-bike. If you buy that same car on a popular second-hand market like www.cars.com, it’ll still cost between $15k to $21k, depending on the total miles driven. Meanwhile a second-hand e-bike on Craigslist could range between $500 and $1.2k, depending on the model. So, an obvious saving on your initial outlay – about 90% less than a car!
Recurring fees are inevitable when you own any type of vehicle. There are usually maintenance costs, taxes, insurance, parking, and don’t even get us started on fuel prices! All these things can add up to more than $7,000 per year for a car (as of 2021). When stacked up against public transport at $1,500 for an annual NYC subway and bus pass, a car is looking even more expensive. So, how does an a-bike compare?
An e-bike also needs maintenance but you won’t need to replace its components every year at least! And charging your e-bike only costs about $40 per year! Check out our article on the true cost of investing in an e-bike to see the full breakdown.
Ok, so e-bikes are clearly the most cost-effective option both short-term and long term. But is there a catch?