3. Maintenance: like all vehicles, e-bikes also need some love to keep them in tip top shape. They usually require annual tune-ups, new tires, brake pads, and having the battery replaced every 2-5 years on average. Over a period of 5 years, maintenance can cost $754 per year for e-bikes. A car also requires tune-ups, and having the engine oil and other liquids, the air filter etc. changed annually. A year in maintenance costs can add up to approximately $1,186 according to the American Automobile Association (AAA) in 2017. It’s expensive maintaining any vehicle but e-bikes definitely come in cheaper. And don’t forget, Momentum e-bikes come with a warranty. To learn more about our warranty, hit the link, select your location and search ‘warranty’
4. Parking: with cities growing at the pace they are, it has become impossible to find available parking, let alone for free! Daily parking rates can cost ~$40 for expensive cities like New York. What’s more, research done by INRIX also shows we spend $345 per driver per year on wasted time, fuel, and emissions looking for parking. With e-bikes we get more flexibility and parking is always free. Most cities also have designated areas just for bikes. Need we say more?
5. Insurance, License, Taxes, Depreciation and Car Payments: if you own a car, you know first-hand how troublesome this is. Even without car payments, all other costs can add up to ~$5,668 per year according to AAA. E-bikes, despite being classified as a vehicle, do not require license registrations, taxes, or insurance by law. We do, however, recommend riders obtain insurance for safety reasons just in case. Better safe than sorry!
Check out our article 17 Bike Safety Tips For A Great Ride.
Since we're laying down stats here, let's take a look at some money facts. Using information compiled by AAA, as of this writing in October 2022, the average gallon of gasoline in the U.S. costs $3.87.
That average per gallon cost is a little misleading. In California, the average is a touch over $6 per gallon. In Oregon, it's $5.30. In places like Maine and New Jersey, it's under $3.70 a gallon. In the South, it's even cheaper. In Florida, Georgia, and Alabama, for instance, the average gallon is under $3.50.
How much money or gas will you save if you bike to the office one day a week? Three? Every day?
That's hard to say precisely. Your savings will vary depending on the price of gas in your city, the distance you have to commute, and the gas mileage of the vehicle you'll be replacing your bike with. A 2022 study indicates that a person with a 10-mile commute to work who rides their bike every day instead of driving can expect to save between $240 and $1,500 a year.
Your mileage, as they say, will vary. The federal government has a handy gas savings calculator to help you compare vehicles against each other that can help you get a ballpark idea of what you can expect in savings. That calculator doesn't calculate the savings or wear and tear on your car. Conversely, it doesn't add the cost of assorted bike-commuting equipment like panniers or seat packs.