How much do you save when you replace your second car with a cargo bike?
A cargo bike combines the best of both worlds: you enjoy the flexibility of a bicycle and a practical “trunk space” like that of a car. No wonder they are appearing more and more frequently in the streets! Have you considered replacing your second car with a cargo bike? You are not alone. There are two major reasons why more and more people are thinking about the same switch: a cargo bike is almost as practical as a car and at the same time costs significantly less. How much can you save by replacing your second car with a cargo bike? You will find out here.
The purchase price and additional costs of a car
New or second-hand? This is the first major decision you make when opting for a second car. The price of a car naturally depends on the model, age, and mileage. For a new car, you will quickly pay more than €15,000. A decent second-hand car can often be found from €6,000. However, do not only look at the purchase price: while a second-hand car is cheaper upfront, it usually requires more and often more expensive maintenance.
In addition to the purchase price, you must also consider recurring monthly or annual costs. For example, the mandatory third-party liability insurance. The premium depends on the driver’s age, the car’s power, and several other factors. Although we cannot attach an exact amount to this, you should expect a premium of approximately €300 to €350. For new cars, comprehensive insurance is also recommended. Once your car is four or five years old, you can opt for a so-called mini comprehensive insurance.
You also pay road tax each year. In Flanders, this tax depends on the vehicle’s power. If you purchase a new car and register it for the first time, you must also pay a registration tax. This is calculated using a formula that takes into account, among other things, the Euro emission standard and the type of fuel.
Vehicle inspection and periodic maintenance are annual recurring costs. A standard inspection for a passenger car costs €32.70. For a diesel car, there is an additional surcharge. The older your car, the greater the chance that you will occasionally need to visit the garage for a defect. These costs are difficult to estimate in advance, but it is wise to set aside some money for them. And do not forget the cost of refueling. A full tank is certainly not cheap.
Annual costs :
You find a second-hand Nissan Micra for €5,500. This amount is, of course, a one-time expense. Your Nissan Micra has a 999 cc petrol engine. This means your road tax amounts to €151.80. For the mandatory third-party liability insurance, you pay €280 per year. Since it is a second-hand car, you decide not to take out comprehensive insurance. Each year, you must also undergo inspection, costing €32.70. Before the inspection, a small maintenance service is recommended, which costs around €50. If you use your car 200 days per year and drive an average of 20 km per day, the fuel cost for a Nissan Micra amounts to approximately €294. The purchase price and annual costs of the car total €6,309 in the first year. In the following years, you pay at least €808 per year.
The purchase price and additional costs of a cargo bike
A high-quality cargo bike may be more expensive than a standard electric bicycle, but you naturally get much more in return. If you choose a premium model, your bike will undoubtedly last a very long time. From €4,600, you can purchase electric cargo bikes with pedal assistance at Cyclobility. The more expensive models usually feature a battery with greater capacity or a larger cargo box at the front of the bike. Some banks also offer loans specifically for electric bicycles, or you can finance it with a personal loan. At Cyclobility, you can also take out a bicycle loan at 0.0% interest.
For electric bicycles, it is recommended to always take out bicycle insurance. Due to the higher purchase price, there is a risk of theft, and damage, for example from hitting the curb, can happen quickly. The premium of your bicycle insurance depends on the coverage. If you want coverage for theft or reimbursement of medical expenses following a cycling accident, you will pay a higher premium. For a solid insurance policy with theft coverage included, you can expect to pay between €100 and €150 per year.
Unlike a traditional bicycle, an electric bike involves additional costs for charging. However, these are almost negligible. Electric bicycles can simply be charged using a standard power outlet. To save even more, you can take advantage of cheaper electricity rates. For example, charge your battery in the evening or during the weekend to benefit from night tariffs. If you have solar panels on your roof, the electricity consumption of your electric bike could even be completely free.
Annual costs :
The main expense of a cargo bike is the purchase price. At our store, cargo bikes are available from €4,600. You decide to take out good bicycle insurance and pay €150 per year for it. Charging the battery has a relatively low cost. In Flanders, electricity prices vary, but on average you can assume a price of €0.25 per kWh. To charge a bike with a 500 kWh battery, you pay approximately €0.12. Keep in mind, however, that it is better to avoid fully draining your battery (it is preferable to recharge it when it is between 40% and 60%). If you charge the battery by 50% every day, which is more than sufficient for most people, you will pay €21.90 per year. In the first year, the total cost of your bike (purchase price and other costs) amounts to approximately €4,772. In the following years, you pay around €172 annually.
Did you know that you can recover the cost of a cargo bike within three years through your bicycle allowance ?
Conclusion
The above simulation clearly shows that an electric cargo bike is significantly cheaper than a second car, even if that car is second-hand. Those who live in the city or do not frequently travel long distances can therefore save a considerable amount of money this way. In the example above, the difference between a second car and an electric cargo bike amounts to no less than €1,537. If you purchase a second car, there are also more recurring annual costs, such as inspection and minor or major maintenance. These costs are much lower for electric bicycles. If we exclude the purchase price of the car or bike, you save €636 each year by choosing an electric cargo bike.
Although not all cargo bikes will last as long as a car, our Riese & Müller cargo bikes are built to last for many years. If you choose a quality model and maintain it properly, you will be able to enjoy your cargo bike for a long time. Moreover, an electric cargo bike is not only good for your wallet, but also for the environment and your health. Many advantages indeed.
Lease a cargo bike?
Leasing a cargo bike is possible if your employer offers a bicycle leasing plan for employees. Would you like more information about a bicycle leasing plan? Fill in the request form, and we will contact you as soon as possible.
As a private individual, leasing a bicycle is not possible. However, you can apply for a bicycle loan with us. This allows you to purchase a bicycle at your own pace.
