The UK’s Cycle To Work Scheme has been in place for over 20 years now, offering fantastic discounts to tens of thousands of riders. As today is national Cycle To Work Day, we’re looking at some great bikes you could get through the scheme and how much you could save.
Yes, it’s true. As much as 39% off the cost; spread the payments; nothing to pay up front. And there’s no longer an upper cost limit. Sounds too good to be true, doesn’t it?
Well, that’s exactly what you get with the Cycle To Work Scheme, which is offered through many thousands of employers in the UK and applies to bikes of all types, whether it’s road, MTB or hybrid, and that includes e-bikes too. We’ll get to the “how it works” stuff later but for now, let’s look at some cool bikes and see how much you could save.
All of these calculations are based on someone earning £30,000 per year (roughly the current UK average) and repaying over four years.
Powerfly is a fantastic all-rounder, an electric hardtail that’s happy on the trails but equally comfortable kitted out with rack and mudguards for longer trail rides and commutes. The Trek Powerfly range is perfect if you're looking for a versatile e-bike that'll eat up the miles on the daily commute, leisurely rides, sightseeing trips and moderate trails.
RRP: £3,750
Cyclescheme cost: £2812.50
You save: £937.50 (25%)
The choice of the more hardcore, technical trail rider, Trek Rail is a long-travel carbon e-MTB that rips as hard as you like on the descents and then gives you a helping hand back up. The Trek Rail 7 features fantastic upgrades to the suspension, with RockShox Yari RC forks and RockShox Deluxe Select+ shock.
RRP: £5,700
Cyclescheme cost: £4,275
You save: £1,425 (25%)
Wherever you’re heading, Verve+ is a fantastic way to get there. These e-bikes are the perfect choice if you’re looking for comfort and a fun and intuitive riding experience. If you're after a big brand experience at a lower price point but still want an e-bike that's packed with features, this is the bike for you.
RRP: £2,300
Cyclescheme cost: £1,725
You save: £575
Trek Dual Sport is a competitively priced hybrid with a nice spec that’s happy on the tarmac and comfortable on the trails. The fork's hydraulic lockout feature ensures you're always riding efficiently: close it for smooth tarmac, open it up on rougher trail. Dual Sport is easy to accessorise with racks, a kickstand, mudguards, lights and more.
RRP: £600
Cyclescheme cost: £450
You save: £150
The Checkpoint ALR 4 introduces you to the exciting new frontier of gravel riding at a value that can't be matched. This bike is exceedingly versatile and suited to a wide variety of riding styles, including gravel rides, bike-packing and daily commutes. This is a great choice if your preferred terrain is more on the side of road and gravel than demanding trails.
RRP: £1,875
Cyclescheme cost: £1,406.25
You save: £468.75
Introduced in 1999, the scheme aims to encourage employees to commute on their bike for environmental, traffic congestion and health reasons. It also enables companies to demonstrate that they’re looking after the wellbeing of their people.
Obviously, you’re supposed to use the bike for commuting – and we are massive supporters of getting to work this way – but it’s fine to buy a bike that’s built for the trails. Also, your employer owns the bike until you pay the final ownership fee, which is based on the “fair market value” of it at the end of that period.
You can use the scheme to buy accessories, such as helmets and bags, though these have to be ostensibly for your commute. So, no full face masks, for example. If you don’t have a lock, we strongly advise that you get one along with your bike as you’re liable for the Cycle To Work payments, even if it gets stolen while you’re paying it off.
This is a salary sacrifice scheme for people aged 18 and over where the monthly payment for your bike is taken out before tax and National Insurance are deducted. Because your contribution is taken before tax, you pay off more per month for less. So, for a bike costing £1,200, £100 is taken from your salary every month but it only costs you £68 because the other £32 would have normally gone to the tax man, right? So, you pay 12 instalments of £68 and a final ownership fee of £300, totalling £1,116. If your salary puts you in the higher tax brackets, you actually save more but you get the gist.
Firstly, find out which scheme your employer is enrolled in and therefore where you can buy your bike from. We work with a number of Cycle To Work providers, including cyclescheme.co.uk, cycleplus and Bikes for the NHS.
Then you need to speak to your HR department and request a certificate, bring it to us and we’ll redeem it against the cost of your bike and accessories. The salary sacrifice commences from your next pay packet.
To get a bike on the scheme, your employer needs to sign up to a provider. If they’re unsure about how to do this, send them to us and we’ll help.
Happy shopping!