10 ways an E-bike can save money

March 8, 2012

Pictures above is my E-bike. A one year old BMC-powered folder conversion with over 3000 miles on it in about a year and a half of riding . Every mile I ride on this bike over the beater car behind it (also mine), I save money and help the environment.

If you are thinking about buying an E-bike, but not sure about spending the money, this article might help you formulate the right decision.  If you use it, an E-bike can actually save you money and pay for itself in a  short time. Electricbike.com has compiled a list of 10 ways an electric bike can save you money, to help you justify the smart decision of going out and buying an E-bike today.  For more information on exact dollar amounts you can save use the Currie Calculator here.  Not only will you be doing something for the environment (one less car) but you will be doing something for yourself and your financial future. Buying an electric bike is smart money…here is why:

  1. Gas money …..This one is obvious. It only costs a couple of cents to charge an e-bike battery which can get you up to 20 miles.  An electric bike, because of its light weight and efficient electric motor is much more efficent than even the most efficient cars. Will gas prices spike-up again? what do you think!?
  2. Car replacement….owning a car or two cars is expensive, not only for fuel price but also for fixed monthly costs such as insurance, maintenance, and storage. If you can get rid of one car in trade for your new electric bike, you will pay for the bike in no time. And you will be an E-bike hero with the whole “one less car” thing. PLUS, the car you keep will last a lot longer.
  3. Time Saving…when you consider traffic, parking, etc, an E-bike in a big city can be more effiicent time wise than a car and definately more efficient than walking. Time is money.
  4. Parking and tolls… E-bikes can be locked to any post, just like a bicycle. Like a bicycle, they are not required to pay tolls on bridges or autoways. Also: no insurance or annual registration renewal.
  5. Cheap recreation….electric bikes are a blast to ride! If you ride your E-bike instead of doing some other form of costly entertainment like riding motorycles, skydiving, or going to the movies…you are saving money.
  6. Vacation  near the house…if you have a fleet of E-bikes, you can vacation with your family on day trips near your home,  instead of having to travel far away to find adventures.
  7. Health costs…some people claim that E-bikes are actually better exercise than a regular bike because you are more likely to go out and ride more often. Getting out and exercising is good for you physically and mentally and will save you a lot of money in the long term with health care costs, length of life, etc.
  8. Emergency Preparedness…an E-bike can be  your best friend if you need to get out of town fast in case of a great disaster (clogged motorways etc)…it is also good to have in case your car breaks down.
  9. Cheap Dates…having two E-bikes can go a long way to finding your soul mate and showing her a good time without breaking your bank.
  10. Grabbing Groceries instead of eating out – An e-bike makes a perfect grocery getter, and you can pull right up to the store with no hassle of parking etc. If you just opt to get groceries on your E-bike every time you have an urge to go out and eat out, you will save money fast.

Eric has been involved in the electric bike industry since 2002 when he started a 6000 square foot brick and mortar Electric Bike store in downtown San Francisco. He is a true believer that small electric vehicles can change the way we operate and the way we think.


  1. I think an ebike should compliment your car not replace it. Ride your ebike once or twice a week and it will be an easy way to save money without making sacrifices.

  2. No one is really going to commute on ebike give me a break.

    • people commute on bikes, and people commute on motorycles…why not commute on electric bikes?

    • You must be joking – thousands do, every day. The ebike means they can arrive unsweaty and ready to work. When it’s a daily thing, the costs become a real substantial saving that you can use to buy other toys, or just pay some bills with. Of course, you have to factor in the replacement battery cost every two years and the eventual cost of a new bike, but it’s still wads cheaper than car ownership.
      Weather is the big one, though; although plenty of people cycle grimly through the rain and just get on with it ; personally I’d be using a small standby motorcycle for that, with good weather protection.

    • As a college student in Atlanta, I commute everyday on my bike. It saves me a tremendous amount of money (insurance, gas, parking (atl parking is ridiculous), maintenance, etc). If I need to go somewhere out of reach or the weather is really bad, I call an Uber for $3-10 one way.

  3. I have commuted to work on an e-bike at least three days a week during May, June, July , August, & September for over ten years. It is an 8 mile trip each way and each way is uphill, the second half. With the extra boost I do not arrive at work all hot & sweaty.

  4. I ride an ebike to work nearly everyday, and have for years. It works for me and would for many of us here in the USA. I pull so many chicks on my e-cargo bike, it’s not even fair. But you no doubt already know that life isn’t fair. So get back in your cage and sit there with your hands on the wheel where I can see them and put the €£#*%!] ing phone down.

  5. I live in Chicago. Sold my car 10 years ago. I’ve commuted on a bike for the last 6 and on an ebike for the last 4. I commute all year long except for 3 to 5 days a year when the weather is too bad. Love it!!! Will never own another car.

  6. I e-bike year-round in Scandinavia, even in such snowstorms. I don’t get it why people in USA cry like pussies when it rains a little snow, we have snow months!
    Anyway, I share a car with fellow photographer and only drive it when I have an assignment more than 20 km away. The car is piece of shit russian Lada, that cost few hundred euros (we spend more in insurances every year)

  7. I love my Stromer electric bike! I feel ecstatic riding it almost every day in San Diego . It covers a lot in such a short time. Riding mountains is a breeze. Better than a motorcycle since it can go off road and take sidewalks and very quiet. The worst thing of having an ebike is the fear of someone stealing it from me.
    Give ebikes a chance_you will get hooked!

  8. I really want to join the ebike wave. But. Coughing up 3 or 4000$ for an ebike seems like a lot of cash. Cash I don’t have. Credit I don’t have and don’t want. So I can buy a 500$ beater car or keep saving my pennies. Cry me a river you say? Ok. I get it, but what ticks me off is that it should not cost that much for a decent ebike, but there is no infrastructure here in eastern Canada that supports cheap ebikes or ebike kits. Walmart, canadian tire, iGo, sorry, no confidence from me. So I guess if I want support or service I need to cough up the money and go with brand name products. C’est la vie as they say …

    • Try looking at second hand sites like Facebook Marketplace or Craigslist. I got a ebike that retails for $1500 for $500 because the man who bought it was a retiree who thought he’d use it a lot. He ended up using it once and stored it in his garage for two years.

  9. I ebike commute to work nearly every day and love it.

  10. I liked this, I don’ agree with every point of this article, i don’t like the idea of going on a day trip around my house for vacation. But i like the idea of taking the bike with you on vacation. For example, I went to California on vacation and it was a lot of fun to be able to go from my hotel to the beach to other places around where i wanted to go. Usually people will use Uber or other things like that to get around but its nice to be independent, not rely on other people and have the risk of human error. I have had my E-bike for a long time now, and riding around has never lost its fun!

    I do love how cheap it is to drive, I can charge it up and honesty with day to day use i get i can get one or two days off the charge. And that is super nice, and getting to and from work is always such a fun ride! In the winter its not always fun, because it is super cold where i am from. But i cant complain because i am saving money and helping the environment.

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