Owning an electric bicycle is a little different than having a traditional bike. Electric bikes require a bigger initial investment and have additional maintenance and charging costs. Despite the extra cost, riding an eBike is a great way to explore the outdoors or your local bike trail. Here are some more details about the costs of owning and operating an electric bike.
Average Costs
The average price to buy an electric bike is between $600 and $2,500. There are also many eBike models that are much more expensive than $1,000, with some costing as much as $8,000. The typical eBike rider will pay around $1,500 for their ride. There are also extra costs for eBike owners, such as maintenance and charging. The price you choose to pay for an electric bike will determine the quality, specs and also design of the electric bike you choose to purchase.
Electric Bike Types & Price Ranges
There are different types of electric bikes on the market, and the price you pay for your bike may be dependent on the style and purpose. But most importantly is the type of motor you buy, size of motor, size of battery and also style of bicycle. These elements are what will determine the price of the electric bike you purchase. The category of bike, like mountain, road, cruiser, or hybrid, aren't really the main factors that dictate the price of an ebike, it's the material the bike is made out of and also the specs. Here is a broad range of how you can expect to pay for an e bike.
Mountain E Bike - $1,000 - $15,000: This is a very broad range but there are cheap electric mountain bikes and very expensive mountain e bikes. Usually the brand of bike will have a major impact on the price. But there are mountain ebikes that have very large, powerful motors, 1,000 to 2,000 watts. Since mountain ebikes can be ridden off road, the specs don't have to comply with regulations for the streets and bike paths. This is why the motor sizes can be so much bigger. Also, mid drive mountain ebikes will be much more expensive than a rear hub motor ebike.
Road E Bike -$1,000 - $6,000: Most Road Ebikes will use a mid drive motor. When we talk about road e bikes we are talking racing style frames. A similar style bike that riders would ride in a road race. These style of ebikes tend to have a mid drive motor since it is more streamlined and has better weight distribution for a road bike. This makes them more expensive. Also, many have the battery integrated into the frame driving up the cost as well.
Cruiser E Bike - $700 - $3,000: Cruiser E Bikes will typically have a rear hub motor. The rear hub motor is perfect for riding on streets and trails and it's more affordable. For a typical cruiser electric bike you don't need to pay more than $1,500 on average. But there are some features that drive up the price. Like fat tires and beefer frames.
Electric Trike - $1,000 - $5,000: E trikes can feature either a mid drive motor or a front hub or rear hub motor. The price depends on the motor, battery size, but also the design. There are many shapes and sizes of electric tricycles. Fat tire trikes tend to be more expensive, cruiser e trikes tend to be more affordable. There are also folding e trikes as well. An average price of an electric tricycle would be approximately $1,600.
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.