How Can HiPEAK Folding Electric Bikes Help People Weather Economic Crisis?

A stark reality is that in the past three years, the global economy has faced unprecedented challenges amidst the COVID-19 pandemic and political crises. Despite the U.S. government implementing various measures to stimulate the economy, such as tax cuts and relief programs, these actions have not completely alleviated the pressure of economic downturn. Meanwhile, domestic political divisions and social unrest have introduced significant uncertainty to the economic recovery.

In fact, thousands of Americans, whether acknowledging their current economy recession or being optimistic and striving to avoid it, are starting to prepare themselves for an economic recession. Some savvy riders are turning to electric bikes as a means to cope with this economic crisis, opting for a more cost-effective mode of transportation over cars. So, can electric folding bikes like HiPEAK adult electric bicycles help them in tackling the economic crisis? The answer is yes, and here are some ways in which using HiPEAK electric bicycles can save money for millions of ordinary Americans.

Avoiding high oil price

It is estimated that due to rapid increase in natural gas and oil prices, the average fuel expenses for Americans reached $4,000 last year. In contrast, the charging cost of HiPEAK BONA fat tire electric bikes is astonishingly low, averaging around $30 per year. Of course, the charging cost of an electric bike primarily depends on factors such as battery voltage, ampere-hours of the battery, and specific electricity rates (which can be checked on the electricity bill). People can calculate it using the methods below.

The battery specifications of HiPEAK BONA are 48V 15Ah. By multiplying the voltage (48V) with the ampere-hours (15AH), we get watt-hours (720W). Dividing watt-hours by 1000 gives kilowatt-hours (0.72KWh). Then, simply multiply the kilowatt-hours by the local electricity rate per kilowatt-hour, and you’ll find that charging your folding electric bike may only cost a few cents.

Finally, people can calculate the number of times they need to charge their bike based on their commuting distance and the bike’s range (HiPEAK BONA can travel up to 60 miles on a single charge). This allows them to determine the cost of charging their electric bike on a daily, weekly, or even yearly basis. One thing is certain: no matter where people live, it will definitely be much cheaper than the fuel expenses of a car. If employers allow it, they can even charge their electric bike while at work, eliminating the cost of their preferred mode of transportation!

Saving more cost of parking and insurance

Parking fees and car insurance can be significant expenses for drivers in the United States. For those who live or work in urban areas, riding electric bikes can save hundreds or even thousands of dollars in parking fees. Moreover, parking spaces in cities are often limited, and one may spend a considerable amount of time to circling around parking lots just to find a spot, resulting in wasted work or leisure time. However, this cost is nearly eliminated with the HiPEAK BONA electric fat tire bike. The only expense may be the need for a lock to secure the bike when leaving it unattended. Additionally, since the HiPEAK BONA is designed to be foldable and portable, individuals can choose to fold it up and carry it with them wherever they go.

Electric bikes can also benefit owners by potentially reducing their insurance fees. As owners drive their cars less frequently each year due to using an electric bike, insurance companies may offer discounts on their monthly bills. Simply call your insurance company and inform them that you have started reducing your car usage by purchasing an electric bike, specifying the reduced mileage per year, and inquire if they can lower your car insurance premiums.

Less maintenance fees

No one enjoys spending a significant amount of money at auto repair shops, but according to AAA data, American car owners spend an average of $1200 on annual car maintenance expenses. In comparison, the maintenance costs of electric bikes are only a fraction of that amount. The annual expenses for brake pad and tire replacements, as well as general maintenance, for an electric bike are approximately $200. This means that in terms of maintenance costs alone, HiPEAK folding electric bikes can save owners at least $1000 per year.

Saving on gym membership fees

Using an electric bike can also save a hidden cost for people – healthcare expense. According to statistics, the average healthcare expenditure per person in the United States in 2021 was $12,914, and gym membership fees averaged $50 per month. Riding an electric fat tire bicycle is a great aerobic full-body exercise that helps burn calories (burning 500 calories only requires 45 minutes of cycling), improves lung function, and even enhances mental well-being, all of which reduce the chances of getting sick.

Compared to traditional bicycles, the HiPEAK BONA folding electric bicycle features a powerful 750W motor and a 7-level pedal assist function. Even when riding for more than 45 minutes without the presence of a professional trainer, people won’t become overly exhausted or injured. As a result, they can save a significant amount of money on expensive gym membership fees.

Purchasing during HiPEAK discount period

According to data from the U.S. Bureau of Labor Statistics, the average price of new cars in the U.S. has reached a historic high, nearly $50,000. The prices of used cars also increased by 40.5% between 2021 and 2022. This is a significant reason why many Americans are shifting from buying cars to purchasing electric bicycles. Often, they can buy a powerful, durable, and stylish HiPEAK BONA folding electric bicycle for less than $1,299. And now is the perfect time to buy with HiPEAK’s discount sale. On the HiPEAK website, each fat tire folding electric bicycle is eligible for a $150 discount, and purchasing two bikes at once can save up to $350, providing significant savings for people.

While there are various ways to prepare for an economic recession, in the long run, changes in transportation and lifestyle are the true financial necessities for Americans. HiPEAK folding electric bicycles offer an essential solution to avoid fuel costs and save significant expenses!

About HIPEAKBIKE

We are a E-bike company that produces innovative, high-performance, valuable and affordable electric bike and outdoor accessories. Our mission is to get people in touch with bikers and outdoor people shine in their communities.