E-Bikes and Your Wallet - Savings, Financing, and More!
There are plenty of benefits of choosing to ride more and drive less that are priceless - especially boosting health, happiness, and protecting the environment. But you might be surprised how much your wallet will thank you, too! Here's the nitty gritty about the money you'll save and how to take the sting out of a new e-bike purchase.
1. The $$$ you'll save
Vehicles are expensive. Tern Bicycles compared the operating and ownership costs of a vehicle vs their HSD e-cargo bike and discovered a savings of...
$5,792 per year!
“I estimate we save $15,000 in vehicle costs (no car payment, reduced insurance, barely any gas or maintenance costs) which we spend on family vacations. Win-win-win and so many wins.” - OEB Customer Megan Ramey of Bikabout
“I can't imagine making a car payment. I know everyone else does it, but I get to do something else with that money every month because we have practical bikes that make everything local easy.” - OEB Customer Kyle Ramey
Check out Tern's full cost breakdown here.
2. The $$$ you'll spend
- 12-month deferred interest program through Synchrony Financial. The interest is free as long as you pay it off during the 12-month period.
- Extended payment plans through Klarna. With these options you'll be able to start riding while you pay for your bike over time.
- Layaway - Pay us directly in installments with 0% interest. Once your bike is paid in full it's yours to Ride Happy!