July 7, 2015

Reasons to Join a Bike to Work Scheme

So you’re looking to get into cycling; maybe start riding your bike on the commute to work in exchange for the cramped train. The only question is, do you buy yourself a bike outright or do it through a bike-to-work scheme? Decisions, decisions…

Choosing whether to join a cycle to work scheme is a choice many commuters are faced with when they decide they’d like to try cycling. Do you pay for your bike on a monthly basis or bite the bullet and buy the bike yourself, without any strings attached? While it all depends on your own circumstances and what you’re hoping for, joining a cycle scheme – whether that of your employer or a third party – can actually have more benefits than you might think.

  1. No hefty initial payout.

When you first join the scheme and have signed your hire agreement, your employer will take care of the initial payout for the bike and accompanying accessories – usually up to the value of £1000. This means no large sum of money for you to worry about, and no dent in your cash flow.

  1. The option for additional accessories.

You have the option to buy any additional accessories yourself, if they won’t fit within your £1000 allowance. Although they’ll remain the property of your employer and won’t be eligible for tax exemptions, it does allow you to get the most out of your cycling experience from get-go.

  1. You likely won’t be alone.

If your employer offers the perk of a bike to work scheme, the chances are you won’t be the only one giving it a try. A scheme will increase the chances of your colleagues getting into cycling too, which can only bolster your efforts and will provide the opportunity for social commutes and support.

  1. No maximum or minimum repayment period.

Unless your employer decides to instate one, there’ll be no max or minimum repayment period for your bike. So you can pay it off as slowly or as quickly as you’d like.

  1. You won’t be forced to buy your bike at the end.

Lots of people worry about having to buy their bike at the end of the hire period, which can sometimes offset the savings you’ve made up to that point. But this isn’t the only option available – some schemes allow you to rehire the bike for another agreed period for just a small returnable deposit (no more salary sacrifices!). Or, if you don’t want it, you can simply return it to the scheme provider. It’s always best however to check with your provider or employer first.

Handy tip: rehiring the bike means lowering its HMRC-determined fair market value to 3% or 7% (depending whether the bike cost more or less than £500), often leading to more savings.

  1. Get money off your next bike.

Your bike scheme will give you between 16 and 42% off your next bike, should you wish to find a shiny replacement for your steed at the end of its hire period. (The savings made will depend on how your scheme was implemented and how much you’ve spent). If you want, you could have a new bike every year!

  1. Make the most of your bike.

Only 50% of your bike’s usage needs to be for work purposes, so it’s totally cool if you want to use it on weekends. Commuters aren’t expected to keep a log of their mileage, so while its essential that you play by the rules, we say get out there.

  1. Finally stay motivated.

If you need motivation to stick to your cycling habit, then a cycle scheme is it. According to figures from the Cycle to Work Alliance, 72% of participants say they would never have bought a bike if it weren’t for the scheme, and 54% said that joining the scheme got them cycling to work in the first place.
The truth is, if you’re paying for something on a weekly or monthly basis, you’re much more likely to use it. One of the reasons a bike scheme has such a profound impact on employee health is because it provides them with a way to keep fit on the way to work and make financial savings. Who can say fairer than that?

Anything I Should Know?

If you’d like to know more about how our bike scheme works, head to our FAQs to get the full lowdown on what it could do for you. For those concerned about how much they might really save, an online calculator (like the Bike 2 Work calculator) can help give you a better idea.

By Aimee Whitehill
  • New Title

    Get a Savings Estimate





  • Testimonials


    ALDI would recommend Bike 2 Work Scheme to any employer. We have found the service provided by the team at Bike 2 Work Scheme to be professional, speedy and friendly. A number of our staff have already purchased bikes through the scheme since our registration 5 months ago, and we predict many more will take advantage of this salary sacrifice in the upcoming months

    Kez Ruffles - Aldi Stores Ltd.

    One of the things that attracted us to Bike 2 Work Scheme was the number of cycle shops available enabling our employees to access one near them, which appears to have encouraged take up of the scheme. Having circulated the leaflets provided, there has been a lot of interest once people could see how easy and financially advantageous it was. All our dealings with the scheme have been very professionally handled, all our queries answered, and paperwork dealt with speedily. We would recommend Bike 2 Work to any employer.

    Peter Langton - Promart Homecenter

    A number of my team had been suggesting they were keen to get on their bike, get fit and try to get out of using public transport and mentioned the Bike2Work scheme. I contacted the team at Bike2Work and they made it very simple for Bright Purple to get engaged, explaining everything required of us to get going. As a company we are keen to support green issues and want to do our bit for the environment, so getting the team on 2 wheels is a good start. Thank you Bike2Work - great idea.

    Nick Price - CEO - Bright Purple Resourcing

    I was given the task of getting our company Abbey Logistics Group on the Bike 2 Work Scheme, I looked around and researched a number of schemes but thought that the Bike 2 Work Scheme was the best. I still feel I made the correct choice for a number of reasons. The amount of partner shops I found was fantastic and the speedy response from the scheme is second to none just to name a couple. May I take a moment to say a big thank you to the Bike 2 Work Scheme for helping our company to a greener future.

    Alan Sutton - Abbey Logistics

    Bike 2 work scheme has proved to be very popular with our employees. The administration is first class and any queries are resolved promptly. We believe the scheme will be of great benefit to our employees in saving money and improving fitness, whilst being in full accordance with Legrand's environmental policy.

    Peter Bedall

    We have been very impressed with the speedy and professional response we have had since joining your scheme. We have found the contacts we speak to be more than helpful and very pleasant in their manner.

    Anne Jackson

    I only heard about Bike 2 Work Scheme when I visited my local cycle shop. It was great to hear that the government actually had a scheme in place which made cycling cost effective for the employee, whilst promoting a healthier lifestyle. Setting up the scheme was extremely easy, they made sure that we had everything that we required and was always on standby to answer any questions. I would happily recommend the Bike 2 Work Scheme to any employer.  

    Tom Watts

    You have provided an excellent service and I really can’t fault it. Helpful, knowledgeable staff who go out of their way to answer any question or accommodate any request. We’ve had about 50 applications to you now and they’ve all gone through without a hitch, but with many satisfied staff!

    Anthony Piccaro