It is a hard question, but in many ways very sensible. The OP doesn't know what his use-case scenario is because he has not ridden much!
You don't know where this journey will lead. I have spent probably close to 10,000 total over 5 years on three different bikes but really do not regret the expense. I have blown up two of them, they are total losses, but the other two are very healthy. (The two I blew up were both conversions/experimental builds.)
It depends how you think about it: If I joined a health club, I'd need one that had a pool; due to my health condition, I need that kind of steady exercise at a consistent pace. Membership at the LA Athletic Club or Equinox is over $200 a month, but let's say I could get the cost down to $200. (Joining the Y would not work for me; gaming out the lap-swim times so I can actually swim is too difficult, been there, done that.) That works out to $2,400 per year, or $12,000 for five years. So in a way, I've saved money already.
Then, factor in travel time to and from the health club, and the fact that you can ride your eBike any time of the day or not, but will usually be limited by the health club's hours. If I have a friend in from out of town, we can just go for a ride right out my front door.
My first bike was a hub drive conversion, probably cost me $650 to add to an existing bike. That was my entry into the sport, and that bike lasted over two years and probably about 700 miles. I learned the Hollywood Hills like the back of my hand, as well as every rideable trail in Griffith Park, discovered places where 20 minutes from my house where I can ride for 20 minutes hardly seeing another soul. Yeah, I burned out the controller, hills here are too steep, but still was a great investment. My second bike, an eMTB, while very light for its class (49 pounds) was underpowered; I got it down to just under 47 pounds, swapped out the tires for tubeless that were a bit smaller, and learned a lot about rolling resistance, etc.
It wasn't until the last year or so that I started using the bike-- occasionally-- for urban commuting, just to the ATM or post office or an AA meeting. For that, I needed a class III -- and a whole new set of skills.
I think the suggestions above are great! A lot of folks seem to really like the Velotric; it may be all the bike you ever need. But if not, it will help you figure out how far you want to go with the sport. Even if it turns out you want something different after a few years, I doubt you will regret the investment.
