E-scooters are popular for their convenience, eco-friendliness, and low energy costs, but how do they stack up financially against other modes of transportation? Whether you’re considering purchasing an e-scooter or using a shared service, understanding the potential savings can help you make an informed decision. Here’s a step-by-step guide on how to calculate if an e-scooter can save you money compared to driving, taking public transit, or even walking.

Step 1: Calculate the Cost of Your Current Transportation

Before evaluating an e-scooter’s savings, start by estimating the cost of your current primary mode of transportation. Consider the following factors based on your specific situation:

1. Fuel or Transit Costs: If you drive a car, calculate your monthly fuel expenses. Alternatively, if you use public transit, add up your monthly fare expenses.
2. Parking Fees: For car owners, consider the daily or monthly parking costs, especially if you park in urban areas.
3. Maintenance and Insurance: Calculate the monthly or annual maintenance and insurance costs for your vehicle. Divide the annual total by 12 to get a rough monthly figure.
4. Opportunity Costs: If you spend significant time in traffic, consider the potential value of this time for work, errands, or leisure. While not a direct cost, time is a valuable factor in choosing efficient transportation.

By adding up these costs, you’ll have a clear picture of your current transportation expenses. For example:

Monthly Car Costs Calculation:

• Fuel: $80
• Parking: $50
• Insurance: $60
• Maintenance: $20
• Total Monthly Cost: $210

Step 2: Determine the Cost of Using an E-Scooter

Next, calculate the monthly cost of using an e-scooter, whether you own one or rely on a shared service.

For Shared E-Scooter Services: Shared e-scooter costs vary based on usage frequency, distance, and pricing structure. Most services charge an unlocking fee, typically around $1, plus a per-minute rate, usually around $0.15–$0.30 per minute.

To estimate, consider the average time and distance of each ride:

• Unlock Fee: $1 per ride
• Per-Minute Rate: $0.20
• Daily Trips: 2 (for a round trip)
• Monthly Trips: 20 days x 2 rides/day = 40 rides

Example Calculation:

• Unlock Fees: 40 rides x $1 = $40
• Per-Minute Costs: Average ride duration of 10 minutes x $0.20 x 40 rides = $80
• Total Monthly Cost for Shared E-Scooter: $120

For Owning an E-Scooter: If you’re considering purchasing an e-scooter, factor in the following:

• Purchase Price: Divide the e-scooter’s purchase price by its lifespan in months (e.g., 2 years or 24 months) for a rough monthly cost.
• Electricity Cost: Most e-scooters cost less than $1 to fully charge. Estimate your monthly charging costs by calculating the number of charges per month.
• Maintenance Costs: E-scooters have relatively low maintenance costs. Estimate $5–$10 per month for tire repairs or general upkeep.

Example Calculation:

• Purchase Price: $500 / 24 months = $20.83 per month
• Monthly Charging: $0.50 per charge x 20 charges = $10
• Maintenance: $10
• Total Monthly Cost for Owning an E-Scooter: Approximately $41

Step 3: Compare Your Current Transportation Costs to E-Scooter Costs

Now, compare your current transportation expenses with the projected cost of using an e-scooter:

• Current Transportation (Car): $210/month
• Shared E-Scooter Service: $120/month
• Owned E-Scooter: $41/month

In this scenario, using a shared e-scooter could save $90 per month, while owning an e-scooter could save around $169 per month compared to driving.

Step 4: Consider Additional Factors That Affect Cost

Beyond direct costs, there are a few other considerations when calculating the value of switching to an e-scooter:

1. Convenience: E-scooters offer flexibility for short distances but may not be suitable for long commutes or bad weather. Factor in how often you’d need an alternative transportation method.
2. Health Benefits: E-scooters encourage outdoor activity, and some even provide a light workout, depending on how they’re used.
3. Environmental Impact: E-scooters have a much smaller carbon footprint compared to cars, making them a greener choice.

Step 5: Calculate the Break-Even Point for an E-Scooter Purchase

If you’re considering buying an e-scooter, calculate the time it would take for the savings to cover the purchase price. For example, if you currently spend $210 per month on transportation and switch to an e-scooter costing $500 with monthly expenses of $41, the savings per month would be $169.

Break-Even Calculation:

• Purchase Price: $500
• Monthly Savings: $169
• Break-Even Point: $500 / $169 ≈ 3 months

In this case, the savings from switching would cover the cost of the e-scooter in about three months.

Conclusion

Calculating whether an e-scooter will save you money depends on your current transportation costs, frequency of use, and whether you opt for a shared or owned e-scooter. By breaking down the costs and comparing monthly expenses, you can determine if an e-scooter is a financially wise choice for your lifestyle.

For many, e-scooters offer significant savings over cars and public transit, especially for short-distance travel. With this guide, you can make an informed choice and start saving on your daily commute.