After 3 years, I am over $20k in the hole. We write off the ebikes & development as a company vehicle expense
amortized over something like 5 or 7 years, and I do not take the EV tax deduction as of yet. So far the cost has been about the same as owning and upkeep of a truck. It helps that I maintain meticulous records on mileage. The basic savings are in the cost of Fuel, Insurance, and presumably reduced medical costs from increased health. I like the fact that I can maintain & repair nearly every single component – and the work can be accomplished inside a heated living space instead of a bone-chilling garage.
The actual cost of savings is perhaps best calculated as:
- Fuel: 3,300 eligible business miles/year -> equates to 13.2 miles/day. This value could be higher if I commuted more or traveled farther, however often I work from home. Guessing the average Gasoline is about $3.85/gallon; I haven’t kept an accurate average cos I don’t use fuel or that sort. My last vehicle average 14 mpg. Therefore,
3300/14 = 235.7 gallons; at $3.85 -> Fuel cost $907.50 USD.My average electric energy cost to recharge is about $0.25/day at the worst possible rate. Using the calculation that I work 5 days/week for 50 weeks/year = 250 work days ->
250 * $0.25 = $62.50 USD.
$907.50 - $62.50 = $845 USD savings.
- Insurance for my vehicle ran about $760/year, however it is now stored for safekeeping, and thus I pay insurance on the stored-vehicle which runs about $30/year. AAA Road Insurance is about $55/year:
$760 - $30 + $55 = $785 USD savings.
- State Fees: I don’t need to smog my vehicle whilst in storage, nor do I need to renew the annual tags:
License = $96, Inspection $15/every two years -> $96 + $7.50 = $103.50 USD savings.
845 + 785 + 103.5 = $1,733.50/year excluding maintenance and Driver’s License renewal.
Now if we divide that into pints @ $6 each (not counting Happy Hour discounts), that’s about 289 wee pints, or 36 gallons, or just a bit over one full barrel and about half my annual consumption. Yeehaw!
Totally worth it! KF