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If you work, Cycle to Work can work for you.
Well, officially, it's a government scheme that's been introduced to promote healthier journeys to work. What that means is if your employer signs up to the Cycle2work scheme, you can get your hands on a brand new bike and all the safety gear you need and get up to 42%* off the total price.
Joining is as easy as freewheeling downhill. Your company simply needs to sign up for Cycle2work. Once they're signed up, you choose a new bike and cycle safety accessories worth up to £1,000 and the company buys it for you. They loan it back to you with reductions in your monthly salary over 12 or 18 months, it’s called salary sacrifice & you get the new bike you want now and you get to spread the cost. It's rather clever, really.
Savings start at a minimum of 25% (including an End of Hire fee) but most people save more. Use our calculator to estimate how much you could save...
You haven't entered an employer code for this calculation, so the figures shown below only represent the possible savings under Cycle Scheme, not your actual savings.
Every employer's circumstances are different, and a Cycle to Work scheme can be run in many different ways. The calculator needs to know specific information about a scheme (eg NI rates and any finance charges) and apply these to the savings calculation in order for it to be accurate to your particular situation.