The first one is usually like 6 weeks to 3 months and it's free. The next one is usually half price. Here's my receipt for our 3 year after a lot of hard riding:

This is the most expensive bill we've had. This year we had to replace the drive train. It was €90.

That bike is only 6k. Why would it cost 1k/yr? It's not a car.

Edit: I lied. I found a bill for like €407. During that service we added a €200 bike alarm. The other year was €161.

And technically, the total cost of ownership is a bit higher. Total replacement insurance for us is like €60/mo or something. But again, you could do absolutely no work on your bike, throw it in the canal, and buy a new one every year, and you'd still be able to buy an extra bike on top of replacing your old one every year with the money you save not having a car.