17 May 2018
Buying an e-bike: what budget do you require?
How much does an electric bicycle cost? How to make sure that you don´t pay too much? How do you finance your bicycle? Logical questions that arise when you´re planning to invest in an e-bike
Below, you will learn how you can save on the purchase price of an e-bike.
Go for a customised e-bike
You´ll find e-bikes in all shapes and sizes. The prices vary widely as well. A standard e-bike cost €800 to €3000. A speed pedelec costs between €3000 and €9000, and an electric carrier bike costs between €2000 and €5000. To save costs, above all you have to know what you want. That way you can do a targeted search for an e-bike tailored to your needs and you won´t have to pay for superfluous extras.
Ask yourself the following questions:
- What model are you looking for?
- Is the very latest so much better than somewhat older technology?
- A range of 200 km sounds attractive . . . but do you ever actually cycle that far?
- Which e-bike matches your route between home and work?
If you approach it intelligently, the purchase price can be earned back within a short period. Make use of your employer´s cycling allowance (FR) and take out an inexpensive loan.
- The cycling allowance: An employer can pay cycling employees a tax and social security-exempted allowance of 0.23 euros per kilometre travelled. This includes home-workplace commutes and professional trips. Ask your employer about this.
- Via your bank, you can now take out interesting loans, specifically for ecological purchases such as an e-bike. These loans have a short term and a low interest rate.
A practical example:
Imagine that your home-work route is 30 km there and back. Your employer provides a cycling allowance of 23 cents/km. In order to buy the bike, you can take out a 2-year loan for an amount of 2,500 euros, at an interest rate and APR of 1.59 %. This is what the costs and benefits look like over a single year:
- You receive €0.23 X 30 km, i.e. €6.9 per day of cycling allowance. If you cycle to work 200 days a year, this comes down to an amount of €1,380.
- Your loan instalment amounts to €105.88 per month and thus €1,270.56 per year.
In this case, your monthly installment is lower than the amount of your cycling allowance. Each month you pay €105.88 and you receive an average of €115. The investment is earned back and your loan is paid off in less than two years. Moreover, in your free time you also use the bicycle more and the car less, as a result of which you save even more.
Find the best purchase
E-bikes have been selling like hot cakes for several years now. As a result, the market has expanded enormously and there is wide range to choose from. This boosts the competition, and the customer can benefit from this:
- Compare prices on the internet, if necessary across national borders.
- Enquire at your local bicycle dealer. Dealers frequently offer interesting savings and credit actions.
- Look for promotions, and if necessary postpone your purchase for a while.
- Don´t buy the latest e-bike from the shop window too quickly. Last year´s model, with virtually the same characteristics, can easily cost hundreds of euros less.
- Buy a second-hand e-bike whose battery you can replace.
- Replace your (second) car. This way, you immediately save on taxes, inspection and parking costs.
- If you own a Mastercard Gold, bike assistance is included.
- If you own a ING Lion Assistance annual policy with vehicle assistance, bike assistance is now included for free.