E-bikes come in all shapes and sizes and their prices vary hugely as well. A standard e-bike costs in the range of 800 to 6,000 euros. For a speed pedelec, you can pay between 3,000 and 10,000 euros, while the average cargo e-bike costs 3,800 euros. 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:
If you take a smart approach to purchasing an electric bike, you will earn the purchase price back over the short term.
Imagine that your total commute back and forth to work is 30 km. Your employer's bicycle allowance pays 24 eurocents per kilometre. To buy the bike, you would take out a two-year loan for an amount of 2,500 euros, with an interest rate of 2.75 % APR (ING Bike Loan). This is what the costs and benefits look like in just one year:
Your monthly repayment in this example is lower than the amount of your bicycle allowance. You will be paying 107.14 euros every month and receiving 120 euros. Within two years you will have fully earned back your investment in an environmentally friendly e-bike and repaid your loan. In fact, your savings are even greater because you will also be using the bike more often in your free time, which means you will be saving on fuel costs for the car as well. And the bicycle allowance continues if you keep on using the bike to commute to work.
"},"title":"A practical example:"},{"componentType":"sectionTitle","title":"How do you find the best buy?"},{"componentType":"paragraph","richBody":{"value":"In the last few years, e-bikes have become more and more popular, but since the coronavirus crisis sales have gone through the roof. This has meant a massive expansion in the market, and a broad range of choice. Result: competition is heating up, and the end-user can profit from it. A few, practical tips:
With our loan calculator, you will receive an estimate of the monthly installment and the total cost of your project.
"},"textLinks":[{"text":"Do the simulation here","url":"/en/individuals/borrowing/loan-calculator"}],"title":"A loan to buy an electric bike? Do the simulation"},{"componentType":"sectionTitle","title":"Ready to turn your doubt into action?"},{"componentType":"paragraph","richBody":{"value":""},"textLinks":[{"text":"Find out everything you need to know about the ING Bike Loan.","url":"/en/individuals/borrowing/bike-loan"},{"text":"Still have questions? Reach out to an ING contact person. We’re happy to help with extra advice and practical tips","url":"/en/individuals/services/contact-us"}]}]},"hasMacro":false,"id":"9ff6d753-0ea9-4021-a10a-c06feacc2c25","legalZone":{"flexComponents":[{"componentType":"sectionTitle","title":"Attention, borrowing money also costs money."},{"componentType":"paragraph","richBody":{"value":"The ING Bike Loan is an instalment loan for personal use. Offer reserved for private individuals aged 18+ and subject to prior acceptance of your case by ING Belgium and to mutual agreement. The general terms and conditions and interests rate of the loan are available from any ING branch.
Your application and any approval of your application by ING Belgium (after examination of your case by ING Belgium) at the branch or via the 'Consumer loans online' in Home’Bank or at www.ing.be are not binding either for ING Belgium or for you until you have signed the loan agreement at your ING branch (subject to prior approval of your case by ING), after that the details communicated in the application have been checked beforehand for accuracy and completeness (partly on the basis of the documents provided or yet to be provided).
A concrete example let us say that you take an ING Bike Loan valid for any bike taken out for any new vehicle (instalment loan for private purposes) for an amount of 2,325 euros (average amount granted by ING for this type of loan) for a term of 24 months. With a fixed APR (annual percentage rate) of 1.95% (fixed) debit interest rate of 1.95% per annum) (in force on 04/03/2020, variable subject to notice prior to the conclusion of the contract) you will repay 98.82 euros a month (i.e. a total of 2,371.92 euros after 24 months).
In the case of online applications: answer within 48h. In the case of applications via Home’Bank: immediate answer during the opening hours of the National Bank of Belgium.
ING Belgium S.A./N.V.– Bank / Lender – Registered office: avenue Marnix 24, B-1000 Brussels – Brussels RPM/RPR – VAT: BE 0403.200.393– BIC: BBRUBEBB – IBAN: BE45 3109 1560 2789.
"}}]},"localeString":"en-GB","mainHeaderZone":{"backLink":{"textLink":{"text":"Mobility","url":"/en/individuals/my-life/mobility"}},"componentType":"editorialHeader","coreHeader":{"body":"A great number of Belgians have discovered the advantages of commuting by bike: cycling is excellent for the body and mind, offers a solution to the misery of traffic queues and it’s also good for the wallet! An electric bike (e-bike) is a significant investment, but it quickly pays dividends.\r\n\r\nHow much does an e-bike cost? How do you ensure that you don’t end up spending too much? How can you finance your bike? Read further to find out how to save money on the price of an e-bike.","subtitle":"Electric bikes are more popular than ever. But how affordable are they? How do you keep costs down? Here are some tips on how to save money.","title":"Commuting by electric bike: financially attractive"},"date":"2023-02-03","readingTime":5},"publishDate":"2024-07-04T10:33:12.700+02:00"}}