According to new research from fintech firm OppLoans, the cost of U.S. bike-sharing programs varies wildly.
CHICAGO, IL, October 17, 2018 /24-7PressRelease/ — As bike sharing programs grow more popular in cities worldwide, they can make for a cost-effective alternative to expensive car rentals and ride shares. But according to new research from the personal finance experts at fintech firm OppLoans, the cost of U.S. bike-sharing programs can vary wildly.
Over the past half-decade, bike-sharing programs have seen a massive rise in popularity. From 2013 to 2016 alone, the number of shared bicycles available worldwide jumped from 700,000 to 2.3 million! This research study alone captured information from programs in 65 different towns and cities across the U.S.
The results revealed a wide disparity in overall cost. While the mean average cost for a one-day bike rental was only $19.27, the total range varied from $4.00 per day in Fargo, ND, to a whopping $71.00 in Atlanta, GA.
While many bike sharing programs have one-day rental options available, a number of cities only rent their bikes by the hour, which contributed to their large per-day price tags. For these hourly rentals, the OppLoans team used a standard eight-hour rental period to make their comparisons.
If you plan on traveling to one of the 65 cities included in this study, or if you’re thinking of ditching your car and relying on your local bike share to get around, this comprehensive list will help you plan your spending accordingly. For instance, if you’re planning on renting a bike during your time in Milwaukee, WI ($64.00 for an eight-hour rental), you might want to think again!
OppLoans is one of the highest-rated online lenders and service providers in the industry. With fast funding, significantly lower rates, total transparency, and unmatched customer service, OppLoans provides non-prime borrowers a reliable alternative to payday lending.
For more information regarding OppLoans, please visit the OppLoans website at OppLoans.com or call John O’Reilly at (312) 212-8079 extension 818 or email [email protected].
Opportunity Financial, LLC
130 E Randolph St, Suite 3400
Chicago, IL 60601
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