Hi guys, I'm trying to make the math work out on a pretty slick e-Cargobike that I took for a trial spin a couple of weeks ago. Problem with the thing is, it's really expensive!
I got a quote for 5800 €. Shocking, yes, but there are advantages:
The State will give me a one-off kickback of 30% through a subsidy program, as a Business-Owner planning to use the bike to offset a portion of my vehicular travel.
Plus, I get to claim the 19% VAT included in that price against what I receive from my customers. So, the Bike will cost me 'only' 3412 €. Still a pile of cash.
The idea is to use it for customer meetups, and to complete small jobs within about a 12 km radius, and offset truck use on multi-day projects. I think I can realistically leave the truck at home one work day in 10, maybe more, and do most of my evening customer meetups with the bike. I can also avoid parking fees and fines, though these are a minor concern. A big consideration is not arriving sweaty for customer meetings, and the bike is by far the fastest way to get around my town (car traffic is unbelievable here). We can also eliminate most of our private use of the truck (admittedly not much as it stands). I think it would also be a neat marketing gimmick in my environmentally conscious city. We don't have a private car, we either occasionally borrow my father-in-law's (we pay for fuel), or we do our shopping on foot or with transit. So, this is not a car-replacement purchase, but an addition to our fleet of bikes.
I looked at the various tax-implications of declaring it as a business vehicle (possible here), and as far as offsetting other costs (mostly truck), it comes out as a wash. I don't think there are any cost savings to be realised with this purchase. It will be simply money out of pocket.
So it comes down to intangibles:
time stuck in traffic in the evenings - reduced significantly, enjoyment increased two days a week. Customer meetings usually twice a week on average.
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environment - obviously way less impact than my stinky diesel per km
local considerations - diesel ban coming up soon, though mine is exempt. nevertheless obeying the Spirit of the law, at least when possible.
Anybody else done the math on e-Cargobikes? As a car-replacement it makes total sense financially. In my case, it's a wash, but the intangibles still make it attractive.