Car vs. Electric Bike based on a 5 day a week daily commute of 20 miles round trip
We are comparing the costs of a new car to the costs of a new electric bike for 48 weeks commuting 20 miles per day or a total of 4,800 miles, round trip on relatively flat terrain.
For the car we’ll use a new Toyota Sequoia $48,000. For the electric bike, we’ll use a 1000w motor MTB with a 48v, 17.5 AH Battery Ebike $3,000. To make sure we’re comparing apples with apples, we’ll do the calculations based on 4,800 miles a year commuting 5 days a week for 48 weeks per year. This does not include any additional usage beyond the commute.
The car is new and if you sell it again after 5 years, the depreciation costs are roughly $30 per week or $1,440 annually. Insurance is roughly $25 per week or $1,300 annually. Fuel based on 15 miles per gallon at $3.09 per gallon is $1,008 per year. Car payments, based on $400 per month is $4,800 annually. If you need to pay for parking the cost is about $50 per week or $2,400 for 48 weeks. Annual maintenance is approx. $500 under normal circumstances.
The electric bike, is a 1000w motor new model MTB with a 48v, 17.5 AH Battery Ebike. Depreciation costs are roughly $5 per week or $240 annually. The bike is bought and paid for so there are no monthly payments, but we will annualize the cost at $50 a month or $600 annually. Charging the 48v, 17.5 AH Battery 4 times a week at .1000KW with the average cost of $.33KWH X 4 is $1.32 per week or $63.36 annually. Annual maintenance is approx. $300 under normal circumstances.
Car payments $4,800
Total $11, 448
Bike payments $600
In conclusion: the cost to commute 4,800 miles by car is almost 10 times the cost of commuting by electric bike
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