The New York Times has uncovered the average *actual* cost of owning a car — taking into account the cost of the vehicle, insurance, registration fees, and the host of other sneaking expenses. And this cost is nothing to sneer at: $8,758 per vehicle for the year 2007. Wow!
Paul White of NYC’s Transportation Alternatives then calculated the average annual cost of bicycle ownership to be a mere $390. That even includes a theft allowance.
Electric bikes are more expensive than straight mechanical bikes, but they also allow for longer, less sweaty commutes. On the Ecobike, charging the battery doesn’t really add to the expense as much as many expect: less than a dime per charge, although this varies based on local electric costs.
For full details on the calculations, see “The Costs of Owning a Car” on the New York Times.