When I think about life-changing things I’ve bought over the years, the list is pretty small. A laptop. My first smartphone. The robot vacuum that’s saved me literally hundreds of hours of cleaning time. But perhaps the best thing I’ve ever bought has to be an ebike.
I bought my first ebike in 2019 shortly after returning from a week-long trip to Dallas. My wife was there to take her board exams and since I was newly self-employed, I tagged along to blog and try out my side hustles in another city.
After she was done with her exams, we spent a day exploring the city on a Jump Bike – one of those electric bikeshare systems that you can rent using your phone. We ended up biking about 9 or 10 miles, saw a huge swath of the city, and didn’t even break a sweat. It was my first time using an ebike – and it completely changed the way I thought about bikes and what they could do as a mode of transportation, not just for cyclists like myself, but for everyone.
My first ebike might be the best purchase I’ve ever made. Here are five reasons why.
A Real Car Replacement Tool For Everyone
I’m a cyclist – or at least I consider myself a cyclist. I’ve never owned my own car (the one car we do have is my wife’s car). When I want to get around somewhere, 99% of the time, I hop on two wheels and pedal my way there.
Here’s the thing though. I definitely bike more than the vast majority of people. Most people put in just a few miles of biking each year and most of it is probably recreational biking. I put in literally thousands of miles on my bike each year. As much as I like to tell people to try replacing some of their car commuting with a bike, the fact is, most people simply aren’t in a position – physically or mentally – to do that.
An ebike completely changes the game. Friction is the biggest barrier to getting started with anything. And the biggest barrier with biking is the fact that it requires some physical exertion. It can be a hurdle to get over that initial hurdle. An ebike, on the other hand, is so easy to use and requires so little work that it’s really not that difficult to get someone who isn’t a strong biker to start using an ebike.
The first step to replacing a car is actually replacing the car. And doing that means getting over that initial friction of putting yourself on a bike. When you know that the pedaling part isn’t going to be difficult, it gets much easier to start using a bike to get around.
They Can Cover Huge Distances
Bikes are amazing tools because of how they can shorten the travel time between two points, and in turn, open up more of your world. I’ve found that for most people, 20 minutes is about the maximum distance you can walk comfortably without feeling like it’s too far to walk. That’s about 1 mile on foot.
Adding a bike into the mix dramatically increases the distance you can travel in the same amount of time. In general, I’d say that if you can travel 1 mile on foot, you can probably travel 3 miles on a bike using about the same energy. That’s a huge increase in the distance you can travel.
To get an idea of how much more distance you can cover, compare the two circles below. The smaller inner circle shows the approximate area you can cover on foot within 20 minutes. The second larger circle shows how much area you can cover on a bike in about the same amount of time. For a city like Minneapolis, where I live, a bike can get you almost anywhere in Minneapolis from downtown in 20 minutes or less.
An ebike increases your circle even more. If a regular bike can take you 3 miles in 20 minutes without exerting much energy, an ebike can take you more than double that distance – somewhere between 6 and 7 miles in about 20 minutes (ebikes can travel about 20mph without requiring you to exert much energy, if any).
Take a look at how big the circle gets with an ebike. It’s pretty astounding.
In a city like Minneapolis (where I live), an ebike essentially makes the entire city within reach for me. Not only that, depending on where I am, I can get to most of St. Paul and even get to some of the first ring suburbs – all within 20 minutes.
*Of course, some factors will slow down your travel time – these distances are measured as straight lines, and not all travel options allow you to go in a straight line. Still, I think it gives a good, general idea of how much ground you can cover on foot, with a bike, and with an ebike.
Maintenance Costs Are Far Lower Compared To A Car
We’ve gone over how far you can travel with an ebike, which, in short, is pretty incredible. Maintenance, however, is something that you have to think about.
What’s great about an ebike is that the maintenance costs aren’t much – typically a few hundred dollars per year assuming you take care of your bike. You’ll need to fix flat tires if you get them. Brakes and chains need to be replaced. You’ll need to take care of other issues here and there. You’ll also want to get your bike tuned up at a bike shop each year. But for the most part, these aren’t expensive things to handle. Contrast that with a car, where everything you do costs a ton of money.
The most expensive parts of an ebike are the electronic components, the most expensive of which is the battery. This will run you about $600 and depending on how often you use your bike and how well you take care of the battery, it should last you several years. In the grand scheme of things, this isn’t a terribly large expense, especially when you compare it to the cost of even minor car repairs.
The other electronic parts that can be expensive are the display and the controller. I’ve had to replace both of these on my ebike, with each replacement part costing about $100. Again, it’s not a terrible expense when you compare it to how much a car costs. And unlike a car, almost everything on a bike can be replaced over and over. Barring a huge crash that totals your bike frame, a bike can theoretically last a lifetime. You can’t say the same thing about a car.
The Cost Is Reasonable If You Think About It Right
The thing that makes a lot of people balk at an ebike is the cost. You can get entry-level ebikes in the $1,000 range, but most of the main ebike brands are going to cost you around $1,600 or so. This is a hefty upfront cost for most people.
But consider the alternative. The cheapest, crappiest car you can get will likely cost you more than $1,600. If you think of your ebike as just a bike that you ride every once in a while, then yes, it’s an expensive thing to buy. But if you think of it as an actual car replacement – something you use as a mode of transportation and not just as a thing for recreation – then $1,600 really isn’t a bad deal. You’re basically getting a vehicle that can take you around a city for the price of a really crappy car. And it won’t come with all of the maintenance headaches that a cheap beater car will probably come with.
I have multiple ebikes these days, and I use them as much as I can. They serve as my primary mode of transportation. I carry groceries using panniers. I’m able to carry my son by attaching a bike seat on the rear rack (it’s how I get him to daycare in the morning and pick him up in the evening). I even have a little dog carrier so I can bring my dog along if needed. And of course, I do all of my deliveries and gig economy apps using an ebike.
You Can Use Ebikes In The Suburbs Too
Biking in the suburbs is usually a horrible experience. But one interesting thing I’ve noticed about my ebike is that it makes biking in the suburbs much more doable and tolerable.
I think suburb biking has gotten better in recent years. Some suburbs have started adding bike infrastructure which makes the biking experience much more enjoyable. The problem, though, is you still have to deal with distances. In most suburbs, everything is miles away. You can bike, but it’s going to be a pain.
But go back to that section about distances and how far you can cover on an ebike. In a lot of suburbs, 6 miles is probably how far you may have to travel to get to commercial areas. Interestingly enough, that’s exactly within the easy biking range of an ebike.
Suburbs are car-dependent and aren’t really made for people like me. But an ebike might make it easier to close the distances between things in the burbs.
Final Thoughts
I’ve been very happy with my ebike, to the point where I’ve been going around accumulating more of them. There are a lot of different types to choose from. Cargo bikes that can carry a ton of stuff. Big wheelbarrow bikes that can fit even more stuff. Moped-style bikes that I’ve found surprisingly fun (I recently got the Himiway Escape, which is a moped-style bike that works really well for doing food deliveries).
Biking can be for everyone. If you aren’t convinced, go to your local bike shop and rent an electric bike for a day. It may convert you. And if you’re like me, it could one of the best things you ever buy.
My current ebike roster:
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More Recommended Ebike/Scooters
Check out these other ebikes and scooters I've reviewed:
- Urban Arrow Ebike – Last year, I made one of the largest purchases I’ve ever made – I bought a $9,000 electric cargo bike from Urban Arrow. In my Urban Arrow review, I will discuss what it is and why I decided to buy this bike, as well as discuss how impactful a bike like this can be on your journey to financial independence.
- Troxus Explorer Step-Thru Ebike – The Troxus Explorer Step-Thru is a fat-tire ebike that I’ve had the pleasure of riding for a while now. It has amazing power, great looks, and awesome range. If you’re looking for a great fat-tire ebike that offers a lot for the price, the Troxus Explorer Step-Thru is definitely one for you to consider. Check out my Troxus Explorer Step-Thru Review.
- Hovsco HovBeta Ebike – The HovBeta is a folding ebike with great specs and a lot of interesting features, and importantly, it’s sold at a good price point. I’ve had a blast commuting with it and using it to do deliveries with DoorDash, Uber Eats, and Grubhub. Check out my Hovsco HovBeta Ebike Review.
- Vanpowers Manidae Ebike – The Vanpowers Manidae is a fat tire ebike that I’ve been riding as my primary winter commuting bike and have also been using it to do food delivery with apps like DoorDash, Uber Eats, and Grubhub. After clocking in a decent number of miles with this ebike, I wanted to write a post sharing what my experience with the Vanpowers Manidae ebike has been like. Check out my Vanpowers Manidae Review.
- Sohamo S3 Step-Thru Folding EBike Review – A Great Value Folding Ebike – The Sohamo S3 Step-Thru Folding Ebike is an entry-level folding ebike that offers a lot of value for the price point. I’ve been riding the Sohamo S3 for a while now, putting the bike through its paces, and I have to say, this bike has exceeded all of my expectations. Check out my Sohamo Review.
- KBO Flip Ebike – The KBO Flip is an excellent bike. I’ve had a great time riding it and think it’s a versatile bike that can be used for a lot of purposes and can fit a variety of lifestyles. It’s worked out great for me as a general commuter bike and as a food delivery bike. Check out my KBO Flip Review.
- Hiboy P7 Commuter Ebike – The Hiboy P7 is an excellent electric commuter bike that’s offered at an affordable price point. The range and speed of this bike are both very good, so you won’t have any trouble getting anywhere you need to go with it. As a food delivery vehicle, this is also good – with how much range it offers, you’ll be able to work all day on a single charge. Check out my Hiboy P7 Commuter Electric Bike Review.
- Himiway Escape Ebike – The Himiway Escape is an interesting bike for anyone looking for a moped-style ebike. If you’re a gig economy worker, the Himiway Escape is particularly interesting and it’s possible to think of it as an investment, especially if you can opt to do deliveries with the Himiway versus using a car. It’s not cheap, but you can definitely make your money back when you compare the mileage you’ll put on your car versus using an ebike. Check out my Himiway Escape Bike Review.
- Espin Sport Ebike – The Espin Sport is a good ebike for someone who is looking for an ebike that feels and rides more like a regular bike. There are many ebikes that are really only bikes in name. In reality, they’re basically electric mopeds. The Espin Sport, by contrast, is a bike you could probably ride without the battery and you’d feel like you’re just riding a regular bike. Check out my Espin Sport Review.
- Varla Eagle One Scooter – The Varla Eagle One is an excellent scooter that can make sense for a lot of people. It can work as a primary mode of transportation. You can use it to work on gig economy apps like DoorDash, Uber Eats, and Grubhub. And it can also be a recreational vehicle if you’d prefer to use it for that. Check out my Varla Eagle One Review.
- Varla Falcon Scooter – The Varla Falcon is an excellent scooter that offers a good amount of power at a lower price point compared to more powerful scooters. It’s not exactly an entry-level scooter, nor is it a high-powered scooter. I think it fits somewhere in-between those two categories – an intermediate scooter if I had to give it a category. Check out my Varla Falcon Review.
- Hiboy S2 Scooter – The Hiboy S2 is an excellent entry-level commuter scooter that's perfect for someone looking to save some money in transportation costs and improve their commute. Check out my Hiboy S2 Review.
- Hiboy S2R Scooter – The Hiboy S2R is one of the more interesting electric scooters I’ve been able to test out. It’s not a high-powered scooter, but for an everyday transport option, it’s very useful, especially given some of the unique features that it has. Indeed, for the price, the Hiboy S2R might be the best value scooter I’ve used. Check out my Hiboy S2R Review.
- Fucare H3 Scooter – The Fucare H3 is a fun scooter and I’ve enjoyed testing it out. For a daily commuter or quick trips or errands, the Fucare H3 is probably the scooter I’ll use. It’s portable and easy to maneuver, so it’s just easier to take on the road when I need it. Check out my Fucare H3 Scooter Review.
More Recommended Investing App Bonuses
For additional investing app bonuses, be sure to check out the ones below:
- M1 Finance ($100) – This is a great robo-advisor that has no fees and allows you to create a customized portfolio based on your risk tolerance. You also get $100 for opening an account. Check out my M1 Finance Referral Bonus – Step-By-Step Guide.
- SoFi Invest ($25) – SoFi Invest is an easy brokerage account bonus that you can earn with just a few minutes of work. Use my SoFi Invest referral link, fund your SoFi Invest brokerage account with just $10 and you’ll get $25 of free stock. I also have a step-by-step guide for the SoFi Invest referral bonus.
- Webull (20 free stock shares) – Webull's current promotion gives you 20 free shares valued between $3-$3,000 each if you open an account using my referral link. Here’s a guide I wrote about how to earn your free shares using Webull.
- Moomoo (15 free stocks) – Moomoo is a free investing app currently offering 2 different referral bonuses if you open an account using a referral link. Read my Moomoo referral bonus guide for more information.
- Robinhood (1 free stock) – Robinhood gives you a free stock valued between $2.50-$225 if you open an account using my referral link.
- Public (1 free stock) - Public gives you a free stock valued between $3-$70 if you open an account using my referral link.
More Recommended Bank Account Bonuses
If you’re looking for more easy bank bonuses, check out the below options. These bonuses are all easy to earn and have no fees or minimum balance requirements to worry about.
- SoFi Money ($325) – SoFi Money is a free checking account from SoFi. They’re currently offering a $25 referral bonus if you open a SoFi account with a referral link and deposit $10. You can also make an additional $300 as well if you complete a direct deposit. This is a good bank that is also 100% free, so you won’t have to worry about managing this account. Here’s a post I wrote with instructions on how to earn your SoFi Money bonus: SoFi Money Referral Bonus: Step By Step Guide.
- Upgrade ($300) – Upgrade is a free checking account that’s currently offering a $300 referral bonus if you open an account and complete a direct deposit. These bonus terms are easy to meet, so it’s well worth doing this bonus as soon as you can. Here’s a post I wrote with more details: Upgrade $300 Referral Bonus – Step By Step Directions.
- Fairwinds Credit Union ($175) – Fairwinds Credit Union is offering a referral bonus for users that sign up using a referral link. Fairwinds has no fees or minimum balance, so this is a particularly easy bonus to earn. Since this is a smaller credit union, my gut instinct tells me this offer won’t be around long, so if you’re in a position to meet the bonus requirements, grab this bonus before it’s gone. Here is my step-by-step guide on how to earn your Fairwinds Credit Union bonus.
- Chime ($100) - Chime is a free bank account that offers a referral bonus if you use a referral link and complete a direct deposit of $200 or more. In practice, any ACH transfer into this account triggers the bonus. This bonus is easy to earn and posts instantly, so you’ll know if you met the requirements as soon as you move money into the account. I wrote a step-by-step guide on how to earn your Chime referral bonus that I recommend you check out.
- US Bank Business ($800) – This is a fairly easy bank bonus to earn, since there are no direct deposit requirements. In addition, you can open the Silver Business Checking account, which comes with no monthly fees. Check out how to earn this big bonus here.
- Fifth Third Bank ($200) – This offer is limited to customers in the following states: Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, North Carolina, Ohio, Tennessee, West Virginia, and South Carolina. If you don’t live in one of those states, you won’t be able to open an account online but you can still open an account in-branch if you happen to be visiting a city that has a branch. This is a fairly easy bank bonus to earn, especially since there are plenty of data points showing what will trigger the direct deposit requirement. In addition, you can open the Fifth Third Momentum Checking bank account, which comes with no monthly fees or minimum balance requirements. Read my guide on this bonus here.
- GO2Bank ($50) - GO2Bank is an easy bank bonus that I recommend people take advantage of if they have an easy way of meeting the direct deposit requirement. I like that it’s easy to open the account and that the bonus pays out quickly. Check out my step-by-step guide on how to earn your GO2Bank $50 referral bonus.
- Current ($50) – Current is a free fintech bank that’s offering new users a $50 referral bonus after signing up for an account using a referral link. Current is an easy bonus to earn and also gives you access to three savings accounts that pay you 4% interest on up to $2,000. That means you can put away up to $6,000 earning 4% interest. That’s very good and makes Current an account I recommend to everyone. Check out my step-by-step guide on how to earn your Current Bank bonus.
- Novo Bank ($40) - Novo bank is a free business checking account that’s currently offering a $40 bonus if you open a Novo business checking account using a referral link. In addition to being a good bank bonus, Novo is also a good business checking account. It has no monthly fees or minimum balance requirements and operates a good app and website. Indeed, it’s the business checking account I currently use for this blog. Check out my post on how to easily open a Novo account.
- Varo ($25) – Varo is a free fintech banking app similar to Chime or Current. It’s currently offering a $25 bonus to new users that open a new Varo account with a referral link. The bonus for this bank is very easy to meet, all you need to do is spend $20 within 30 days of opening your Varo account. Check out my step-by-step guide to learn how to earn this bonus.
Kevin is an attorney and the blogger behind Financial Panther, a blog about personal finance, travel hacking, and side hustling using the gig economy. He paid off $87,000 worth of student loans in just 2.5 years by choosing not to live like a big shot lawyer.
Kevin is passionate about earning money using the gig economy and you can see all the ways he makes extra income every month in his side hustle reports.
Kevin is also big on using the latest fintech apps to improve his finances. Some of Kevin's favorite fintech apps include:
- SoFi Money. A really good checking account with absolutely no fees. You'll get a $25 referral bonus if you open a SoFi Money account with a referral link, and an additional $300 if you complete a direct deposit.
- 5% Savings Accounts. I'm currently getting 5.24% interest on my savings through a company called Raisin. Opening a Raisin account takes minutes to complete, it's free, and all of your funds are FDIC-insured. I explain how it works, why I'm now using it to store my emergency fund and any other cash savings I have, and why I recommend everyone check it out in this review.
- US Bank Business. US Bank is currently offering new business customers a $800 signup bonus after opening a new account and meeting certain requirements.
- M1 Finance. This is a great robo-advisor that has no fees and allows you to create a customized portfolio based on your risk tolerance. You also get $100 for opening an account.
- Empower. One of best free apps you can use to monitor your portfolio and track your net worth. This is one of the apps I use to track my financial accounts.
Feel free to send Kevin a message here.
Hello,
The Best Thing I’ve Ever Bought Is An e-bike, and let me tell you, it’s not just a purchase; it’s a life-changing investment. From the moment I hopped on that electric wonder, the world transformed into my playground, and I became the conductor of my own adventure orchestra.
My e-bike isn’t just a means of transportation; it’s my escape from the ordinary, my daily dose of excitement, and my secret weapon against traffic. It’s eco-friendly, and wallet-friendly, and it’s making me health-conscious one pedal at a time.
The best part? It’s not just a bike; it’s a freedom machine, a joy generator, and a gateway to exploration. Whether it’s cruising through city streets, conquering steep hills, or leisurely rides through scenic routes, my e-bike has become my trusted companion.
If you’re still contemplating an e-bike, take the plunge. You won’t just be buying a vehicle; you’ll be investing in a lifestyle that brings endless smiles and unforgettable experiences. Trust me; it’s the best decision you’ll ever make.
Great article and as a person who has cycling as a major part of their life I really enjoyed what you put together. I am an advocate and promoter of all things cycling and all types of bikes and riders, you really nailed it on the messaging here. What I liked most was the visual of the circle of range between foot, bike and e-bike. This shows the endless possibilities. Keep on cycling and loving life in the outdoors !
I can imagine a world where we all talk about how wild it was that we all used to have our own cars to drive around with. Now living in a place where biking is default (The Netherlands) it’s hard to imagine anything else. Hopefully city infrastructure will change so ebikes are the new normal.
I got mine, a “used” GenZe (it had all of 7 miles on it!) demo, in 2018. I have about 1200 miles on it so far, almost all transportation miles (vs. recreation).
I understand I’m still pretty far from breaking even on the cost of gas, but it brings me joy every time I hop on 🙂
I’ve had my doubts about e-bikes but they are becoming more popular.
We’re a zero-car family that has been renting a lot of cars during the pandemic since we haven’t felt comfortable with planes/trains/etc. but I do love the idea of micro-mobility and how it could help us visit friends in the ‘burbs without a car. My two biggest hangups about ebikes are:
1) their weight – I don’t live in a home so I would have to lug a 50 lb bike + my 15-20 lb pannier up & down several flights of stairs every day and I’m not feeling that. Once they come out with a 15 lb-er I’ll be all over it!
2) theft – Washington DC, like most major cities, is prone to bike theft. I always uses two locks (U-lock & a cable) and have even gotten WheelBoltz for my wheels (not sure if you could use those on an ebike). Would you feel safe leaving your bike unattended for an extended period of time? I would think the higher the cost of the bike, the more prone to theft, but I’d be interested to hear what your feelings are.
Totally agree with you on the weight issue. They’re heavy! My house has some steps leading out of it and it’s a pain to lug it up and down. And if you don’t live in a place with an elevator, that’s definitely a problem that I don’t have an easy solution to other than building your own ebike with a regular bike.
Theft is a definite concern. I don’t leave my bike outside for an extended period of time. Trips to the grocery store, doctor’s appointments, etc, are all fine. I lock it with a kryptonite lock and also use a chain to wrap around both wheels and make it just a little bit harder. If you’re using it to go to work, most buildings have a bike room these days. My last job had a secure bike room that you could only get into with a keycard (and it had cameras in there, so anyone coming in and out of the room could be easily tracked). A lot of cities also have bike lockers that you can rent, which are an interesting option.
I visited the RAD shop in Seattle while on vacation in 2019. Upon returning, I wanted an Ebike, but just could not spend the $1k+, so I built my one with a kit and my regular bike. I was unable to bike to work and back because of the hills and my weight, but now I can because of the E bike. I saved 50 10 mile round trips in 2019, 60 in 202, and hope to beat that for 2021. Winter is still and issue, but I’m saving where I can
That’s awesome! I definitely know that you can build your own ebike yourself for less. I should probably look to try doing that for the experience.
I’ll bike short distances when the weather is nice and for exercise (usually quick 30-45 minute rides), but I’m a little on the fence about ebikes. I’ve tried some of the Uber Jump bikes around town and haven’t been enamored with them–the ones I’ve been on have seemed pretty inconsistent. Perhaps I need to try another brand. The big thing for regular biking is safety. I would guess Minneapolis has some pretty good bike lanes? Drivers aren’t always looking for bikers (especially not when they’re on their phones!), so you do have to stay on high alert, especially in big cities.
Yeah, Minneapolis has really good bike infrastructure for an American city. I feel pretty comfortable biking around here given the number of bike lanes, separated lanes, and protected lanes.
Whoa, this is actually really cool. I hadn’t ever considered an e-bike as a replacement to a car. I had just actually considered as a luxury item but if it can replace a car… you can not only save money but improve your health as well.
Great rundown of an e-bike! Like J. Money, you’re making me want to buy one for myself as well.
Great article (and timing). I’m planning to get one for my birthday this month so I can start riding to work. After downsizing from a 2 car to 1 car household during the pandemic, I don’t feel like spending money on more insurance and car payments again. An e-bike seems like the perfect solution! 😎
Ahhhhh you’re making me want to go out and get one right now!! Love it!
Do it! Or at least try one out to see how awesome they are.