6 Financial Benefits of eBikes

Electric bikes have been steadily gaining popularity over the past few years and there are many reasons for it. One thing you might not know about is how much an eBike can save you. For that reason, today we’re going to look at six of the biggest financial benefits associated with getting an eBike. Need some help finding the perfect electric bicycle for your needs? Look no further than The eBike Store! Whether you peruse our online store or you stop by our brick and mortar location here in Portland, we’ll be happy to answer any questions you have.

-Physical Health

You might not make the connection between your health and money, but they’re more intertwined than they appear. When you’re unhealthy, you end up spending a lot of time sick. Between missing work, doctors appointments, and medication, it can all add up. One of the reasons people get sick is because they have a lack of physical activity in their day-to-day lives. Most people commute to work in their car, and an increase in jobs spent at a desk in front of a computer adds to our increasingly sedentary lives. By trading your car for an eBike to commute, you’re getting the exercise you need to be healthy, saving you money in the long run. Another bonus? You’re not having to spend a bunch of money filling up your gas tank.

-The World is Your Gym

With how much exercise can improve your life, it can be an easy leap to make that you should just buy a gym membership. However, if you’ve ever had a membership, you know how expensive they are and how rarely they get used. With an eBike, the world becomes your gym. Not only will you get a great workout, you’ll do it out in nature, which is much nicer than being cooped up in a sweaty room with a bunch of strangers. With the added pedal assist feature of most eBikes, it also lets you take a break when you need to, which allows for longer, more fulfilling rides without getting too tired.

-Save Time

With the average American commute clocking in at 26 minutes and on the rise, the amount of time wasted traveling to work adds up. As Benjamin Franklin once said, “Time is money”, and that statement has only become truer in years since. Riding an eBike gives you a chance to bypass a lot of the problems that make your commute longer. Using the bike lane helps you avoid the bumper-to-bumper traffic that’s so familiar to many daily drivers. With this extra time, some people have begun taking side jobs using their electric bike to make deliveries so they can get a bit of extra cash. That’s right. An eBike doesn’t just save you money, it can actually help you make money, too.

-Free Parking

Living in a big city can be truly wonderful, up until you have to look for parking. Not only do you have to park your car blocks away from where you want to go, you have to shell out for the parking machines. If you accidentally park somewhere you weren’t supposed to, or your meter runs out, you’re looking at a costly parking ticket. With an eBike, you never have to pay for parking again. All you need is a good bike lock and a sturdy bike rack and you’re all set. Saving cash without having to pay for parking adds up a lot!

-Affordable Upkeep

Cars are expensive, no matter how you look at it. Between spending a lot on it initially and how costly the repairs and upkeep get, you’re sure to be pouring a lot of your hard earned money into keeping it running. That doesn’t even factor in how much insurance and car payments are. An eBike has a lower upfront cost, which means even if you are making payments on it, they’ll be much less than what a car payment is. Additionally, it costs much less to keep your electric bike in good shape. Consider this — driving a car typically costs about 50 cents per mile, including gas, tires, and regular maintenance. In contrast, operating an eBike (including tires, battery replacement, maintenance, and electricity costs) comes out to just 18 cents per mile. While it might not seem like much, those cents stack up pretty quickly.

-Tax Incentives

With more and more emphasis being placed on reducing carbon footprints and adopting a green lifestyle, states have begun to offer tax credits to people who purchase eBikes. This is because eBikes help to reduce the overall pollution contributed by motor vehicles on a daily basis. It’s worth checking your state’s tax incentives to see if you can benefit from this new credit when tax season rolls around.

There are so many ways that an eBike can improve your life, but its financial benefits often get overlooked. We hope you’ve found this to be a valuable resource as you learn if an electric bike is right for you. If you have any questions, please don’t hesitate to call us at The eBike Store. Our staff is passionate about electric bicycles and they have the knowledge to help you make an informed decision. We even offer eBike rentals here in Portland if you would like to give one a test drive to see for yourself. We hope to see you here soon!

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