How Should I Finance My E-Bike?

We get it – an electric bike is an investment. Unless you’re Elon Musk, you won’t buy an e-bike as an impulse purchase. You can expect a high-quality electric bike to set you back at least $1000.

That number might seem daunting at first, but it’s an investment that will pay you back handsomely.

If you consider how much you spend a year commuting to work on the subway or by car, you’ll see that an electric bike will often save you money in the long run.

You’ll want to think about how you’ll use an electric bike

While you might buy one as a hobby, they’re usually for cycling enthusiasts and those who choose to cycle instead of driving or taking public transport.

What's your budget?

Before you consider how to finance your e-bike, you want to decide your budget.

You can pay anywhere from $999 to $2000 or more on an electric bike,

depending on what type of model you want – whether its an electric city bike or electric mountain bikes

Aspects like the frame, battery capacity, and range will largely determine the price of your bike.

Electric Bike
Electric Bike

Finance your electric bike

If you don’t want to pay upfront, you can finance your e-bike.

At Ridel Electric Bikes, you offered PayPal credit at checkout, meaning you can split the cost of your purchase across several months.

You’ll pay no interest if you pay off your electric bike in full within 6 months.

We recommend this option if you know you’ll be able to make the monthly payments and if you can set aside the money to make your payments.

Not everyone will want to take a ‘buy now, pay later’ option.

If you’re trying to rack up air miles,

you might decide to pay for your electric bike with a credit card to get you extra benefits like cashback, depending on your card provider.

You might find that it’s cheaper to finance your electric bike with a credit card and then pay the total off in one installment.

If you’re not going to pay off your purchase right away,

make sure to check your APR interest rate so you know how much extra you’ll have to pay if you split the payment across multiple months.

‘Cycle to Work’ scheme

It’s also worth checking if your work offers a ‘Cycle to Work’ scheme.

They might be able to assist you with purchasing your bike through credit vouchers or by saying you the cost of tax.

If you work for a larger company, you might be surprised that they offer the scheme,

as more major employers focus on promoting environmentally friendly modes of transport.

You’ll want to check if your state or local authority offers this kind of scheme as you may be able to apply directly to them for a grant towards your new electric bike.


While an electric bike can come with a hefty price tag, it’s not something that should instantly put you off. There are finance options available,

making an e-bike more attainable than might expect.

You should view an electric bike as an investment that can save you money in the long run

by reducing your expenditure on public transport or diesel for your car.

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