E-bike financing – installment purchase or leasing?

Installment purchase or leasing – these are the pros and cons

In spring, you'll see them cruising the bike paths more often again: E-bikes. In the shop windows tempt the brand new models. No wonder, if you get palpitations and would like to buy an e-bike immediately. If it were not for the high purchase price! But there are ways to enjoy an e-bike without a big one-time investment. Here you can find out what they are and what you should consider.

What does a good e-bike cost?

There are plenty of arguments in favor of e-bikes: they keep you fit, protect the environment – and are fun to ride. But what does an e-bike cost? Recently, you often read about cheap electric bikes, which are offered at discount prices. Caution is advised here: if the e-bike is so cheap, it may be that the quality has been skimped on. For a high-quality e-bike you have to pay an average of 2.800 euros on the table.

How you can get a cheaper e-bike?

A good e-bike is an investment. If you don't want to spend so much money in one go, you don't have to give up your dream of an e-bike. Here are a few examples:

  • Buying a used bike: you can often buy an e-bike cheaper if you buy it used. For a good used bike you should still plan a larger sum of money.
  • E-bike of the previous season buy: if the timing is right, you can buy an electric bike from last year's collection. These are often sold cheaper – especially in winter. Of course, such a bike is also a higher one-time investment.
  • Financing an e-bike: if you want to avoid a high purchase price, you can finance your e-bike. With some dealers you can buy your bike on installments. Here – depending on the conditions – a higher down payment may be necessary.
  • Take out a small loan and buy an e-bike: if you want to finance a bike, you don't have to rely on the dealer. Even with a small loan, the purchase price can be raised.
  • E-bike leasing:with bike leasing, you don't buy your e-bike, but rent it. During the contract period you can use it without restrictions. You don't have to make a down payment, just make the monthly lease payments.

EBike leasing private woman

E-bike on installments – this is what you should pay attention to

If you want to purchase an e-bike and do not want to invest a large sum at once, e-bike financing through the dealer or the bank and e-bike leasing come into question. Because even the used bike or the bike from the previous season make a higher investment necessary. With e-bike financing, you can buy the e-bike on installments. You pay off the purchase price over a longer period of time – usually two or three years. So you do not have to go to your savings. This preserves your liquidity.

With an e-bike financing you should be aware that due to the interest you will pay more in the end than with an immediate purchase. Depending on the provider, the financing model can be more expensive or cheaper. Look carefully at the conditions of your provider and compare. Sometimes dealers offer an e-bike 0% financing, where you do not have to pay interest. But pay attention to the small print. Often a higher down payment or a large final installment is due.

The interest rates for e-bike financing are usually below 3 percent (s. Also http://financeabike.En/). Shorter terms have lower interest rates, but higher rates. Conversely, a longer term has lower rates, but overall you pay more money due to the higher interest rates. An example: you finance a pedelec worth 2.500 euros. If you pay off the e-bike installments for three years, you pay a little over 70 euros per month. In the end you have around 2.690 euro paid. Pay it off for two years, you'll pay a little over $100 a month. Overall, however, the e-bike costs you only 2.630 euros.

You can't just finance an e-bike through the dealer – a small loan from a bank is also an option. The bank provides you with the purchase price, you can buy your e-bike – and pay the installments back to the bank. You can get a loan for your e-bike at your local bank – but they often don't offer the best conditions. If 10% or more is charged, you should leave it alone. In addition, house banks usually carry out a schufa check before granting a loan. The credit check can take a while. It is worthwhile to compare the conditions for small loans on the internet. Direct banks such as targobank, PSD or ING diba often offer better conditions than the house bank. In addition, they can often provide the loan amount faster.

Leasing an e-bike – this is how it works

If you want to use the e-bike as a company bike, leasing is a smart alternative to financing. With leasing you do not have to buy the e-bike at first. Accordingly, you do not have to finance the purchase price and pay no interest.

You're free to use the e-bike whenever you want in exchange for moderate monthly lease payments. A leasing contract runs for three years. If you want, you can take your e-bike for a special used price afterward. In this way, you save up to 40% compared to a private purchase – and the e-bike is still yours in the end.

Of course, you don't have to buy the bike at the end of the term. You can also sign a new contract. Then you will receive a new e-bike that is at the cutting edge of technology. E-bike leasing is made even more attractive by the tax savings: for employees, the lease payment is deducted from your paycheck. For example, if the e-bike has a new price of 2.500 euro, you pay a monthly leasing rate of about 70 euro. Tax benefits reduce that amount to about 50 euros – including all-around insurance. For only 50 euros per month you can ride a new, high-quality e-bike – without any risks.