Whether you’re commuting or adventuring, riding an electric scooter allows you to explore your city in style. These sleek rides are powerful, fast, and fun. If you’re considering buying an electric scooter, you may be wondering if it's worth the investment. After all, these vehicles can cost anywhere from a few hundred dollars to several thousand.
Below, we’ll discuss what factors can impact the price of an electric scooter. We’ll also explain how electric scooters can pay for themselves within a matter of months, making them a worthy investment.
Why Are Electric Scooters So Expensive?
While most electric scooters cost between $300 and $3,000, compared to cars and motorcycles, e-scooters are affordable. However, they still come with price tags that are large enough to warrant thoughtful consideration.
Here are some of the factors that influence the price of electric scooters:
Research and development – The first mass-produced electric scooter entered the market in 1996. Since then, electric scooters have come a long way in terms of quality, durability, and performance. Research and development have been the driving forces behind these impressive innovations in e-scooter technology.
This research and development cost electric scooter manufacturers a lot of money. In turn, they must set their prices accordingly.
Battery – The battery is the most expensive component of an electric scooter by far. Most electric scooters use lithium-ion batteries. These batteries hold a lot of power, but they’re also quite expensive.
On average, an e-scooter’s battery makes up 30% of its total cost. Electric scooters with larger batteries usually cost more. The good news is that lithium-ion batteries have been going down in price in recent years, thanks to their growing use in electric automobile production.
- Motor – The second most costly component of an electric scooter is its motor. Like the battery, the motor plays an important role in determining the e-scooter’s range and top speed. If you want to ride fast and far, you’ll need to look for an electric scooter with greater motor power. Just keep in mind that these models often have higher price tags.
- Durable materials and ride-enhancing features – High-performance e-scooters are usually crafted using durable materials, like aluminum. They also feature strong brakes, shock-absorbing suspension systems, and thick tires. While these high-quality components can enhance an electric scooter’s longevity and performance, they can also increase its final price.
As you can see, the cost of electric scooters is influenced by their technology, quality, and various components.
Are Electric Scooters Worth the Investment?
Purchasing a good-quality electric scooter is definitely worth the investment. Not only will a well-made model stand the test of time, but it may also pay for itself within the first year of ownership. After that, it can only save you money from there.
How Long Does it Take for an Electric Scooter to Pay for Itself?
Most e-scooter models pay for themselves within the very first year of use. The amount of time it will take for your e-scooter investment to start yielding returns depends on a few factors, including:
The price of your electric scooter – The more money you spend on your electric scooter, the longer it will take to recoup your investment. While cheap electric scooters can pay for themselves faster, they may not offer the greatest return in the long run. That’s because cheap e-scooters tend to be flimsier and more prone to breaking with regular use.
The types of transportation you replace with it – When you own an electric scooter, you may use it instead of your car on occasion. You may also decide to ride in instead of taking public transportation, ordering an Uber, or calling a taxi. Anytime you use your electric scooter in place of costlier rides, it can reduce your total transportation spending for the month and help you save money.
- How long it lasts – If you purchase a durable electric scooter, you can ride it for years to come. The longer your electric scooter lasts, the more money it can save you in the long run. Selecting a sturdy model that won’t need much maintenance can also maximize the cost-savings of your purchase.
5 Ways Electric Scooters Can Save You Money
Let’s take a look at how riding your electric scooter more often can help you recoup its cost faster and even save you some extra money along the way:
#1 Electric Scooters Can Save You Trips to the Gas Station
Gas prices have been soaring recently. As a result, cars and motorcycles are only becoming more expensive to operate.
Luckily, electric scooters don’t require any gasoline. Instead, they're powered by rechargeable batteries. The cost of refueling these batteries is impressively low. Just take a look at the average e-scooter charging costs in the United States and Canada:
- $0.02 USD during off-peak hours in the U.S.
- $0.07 USD during peak hours in the U.S.
- $0.05 CAD during off-peak hours in Canada
- $0.06 CAD during peak hours in Canada
Based on this data, it could cost as little as $10 USD a year to keep your electric scooter on the move. Meanwhile, the average American spends over $1,800 USD on gas each year. These numbers show how little time it could take for an electric scooter to pay for itself through gas savings alone.
#2 Electric Scooters Require Less Maintenance Than Other Types of Vehicles
Not only are electric scooters more affordable to fuel, but they’re also more cost-effective to maintain. If you purchase a high-quality e-scooter model and ride it properly, it likely won’t require any repairs for the first few years. Even after many years of use, electric scooter maintenance is usually quite minimal, since these vehicles only have a handful of parts.
In contrast, cars and motorcycles require regular maintenance. Here are just a few of the common expenses involved in their upkeep:
- Oil changes
- Battery replacements
- Tire rotations
- Windshield wiper replacements
- Brake pad replacements
- Headlight and taillight repairs
Meanwhile, electric scooters only need the occasional tire pressure tune-up and potentially a battery replacement after years of heavy use. The cost of any repairs or replacements will most likely be much more affordable than those for a car or motorcycle.
#3 Electric Scooters Are Cheaper Than Public Transportation
If your city has good public transportation, you can use it to get around town affordably. Taking the bus or train is certainly cheaper than owning a car. Even so, the cost of using public transportation regularly can add up over time.
Here’s how electric scooters compare to public transportation in terms of average monthly cost:
- Public transportation tickets – $65 USD in the U.S. and $100 CAD in Canada
- Electric scooter charging costs – $2.10 USD in the U.S. and $1.91 CAD in Canada
As you can see, riding an electric scooter is significantly more cost-effective than relying on public transportation. Based on this data, your electric scooter could pay for itself in as little as seven months, depending on the price of the model you purchase. Electric scooters also offer more flexibility than public transportation, since you won’t have to work around the bus or train’s schedule.
#4 Owning an Electric Scooter is Cheaper than Renting One
Due to the growing prevalence of shared e-scooter rental companies, many electric scooter enthusiasts only ever rent their rides. Renting an electric scooter can give you a chance to enjoy it for a while, but it’s not as good of an investment as purchasing one.
Shared e-scooters can get expensive if you use them a lot. On average, they cost between $0.10 to $0.35 USD per minute to operate. That’s a lot more than it would cost to charge your own electric scooter’s battery several times over. Additionally, you usually have to pay $1 to unlock an electric scooter rental before you ride. These small fees can add up over time. Plus, you never know when these rental companies will raise their rates.
Purchasing your own electric scooter allows you to enjoy riding without the frequent fees. You also reserve the right to take your electric scooter home, off-roading, or wherever else your sense of adventure calls you.
#5 Electric Scooters Don’t Require a Driver’s License, Insurance, or Registration
While cars and motorcycles require costly licenses, insurance, and registration, electric scooters don’t. You can ride an electric scooter without a driver’s license in the vast majority of cities (though there are some exceptions).
After replacing your car or motorcycle with an electric scooter, you can say goodbye to the hassle and expense of obtaining an up-to-date driver’s license, insurance, and registration for the foreseeable future.
Getting rid of your current vehicle may not be a tenable option for you, but if it is, the simplicity and affordability of e-scooter ownership await.