4 Reasons You Should Opt for an E-Bike Over an EV in 2025 To Save Money
Written by
Jordan Rosenfeld
Edited by
Molly Sullivan
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.
20 Years
Helping You Live Richer
Reviewed
by Experts
Trusted by
Millions of Readers
While electric vehicles have been the hot topic of conversations for several years when it comes to saving money on gas, there’s an alternative that might be even more cost effective for consumers who are not in the market for a new car, or not ready to commit to an electric car: electric bikes (e-bikes).
E-bikes come in a variety of models and kinds, but generally speaking they are equipped with battery-powered assistance of some kind, which can help make difficult terrain like hills or rough roads feel like a breeze. These alternatives to regular bicycles and/or cars have been gaining in popularity, with U.S. sales hitting $1.3 billion in 2022, according to PBS.
Moreover, investing in one brings the following money saving benefits.
You Save Money on Gas
Perhaps the most obvious savings by utilizing an e-bike over a gas powered car is an immediate savings on the cost of gas. As of Dec. 4, 2024, the average cost of a gallon of fuel in the U.S. is just over $3 per gallon, according to AAA, compared to just 37 cents per kilowatt hour for charging an EV. With an average car holding between 10.5 and 18.5 gallons, you could be looking at paying between $31.50 and $55.50 per tank of gas, and that’s on the average end of prices. In some states, the prices are much higher.
You Save Money on Electric Charging
The cost to charge an e-bike is astonishingly low. Sources vary, but most suggest you can fully charge your bike for less than 50 cents, yes, that’s cents, not dollars. Compare that to an electric car cost: While it depends widely on things like the cost of electricity in your city and state, the type of vehicle you have and so on, according to Car & Driver, you can expect to pay around $17 for 100 miles in an efficient car like an Ioniq in a state like Louisiana, and as much as $21 for 100 miles in a car like a Tesla Model Y.
You Can Buy an Affordable Portable Charger
E-bikes often come with a portable battery charger or you can purchase a variety of them in prices starting at $20 and up, often not much bigger than a laptop computer charger. This means you don’t have to rely upon finding charging stations like you do with an electric vehicle or paying for an expensive or complicated EV charger at home.
It Can Promote Healthy Cost-Saving Habits
While you can’t put a specific price on health, e-bikes support and promote healthy outdoor activity. Americans spend thousands of dollars on healthcare every year, and as many as 41% of Americans have some form of medical debt, according to KFF.org Even with the assist function on many bikes, you’re still using your own body’s muscles and strength to get around, and in many cases you can turn the assist off when you don’t need it.Â
Make 2025 the year you look into an e-bike for your wallet and your health.
More From GOBankingRates
