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Cycling solutions provide alternatives to cars as fuel prices soar

06:43 18/03/2022

Some people have already chosen to turn to greener alternatives to the car, but for others, with fuel prices soaring, one question has become more pertinent: does abandoning your car in favour of a bicycle allow you to make real savings?

In real terms, riding a bike would cost six times less than driving a car. Indeed, the cost of the bike as such is much more economical, but it is not only at the point of purchase that you will see a real difference in your wallet: its maintenance represents about 10% of the cost of maintaining a car. In addition, the cost of insurance is low, or sometimes non-existent with a two-wheeler. And then, of course, there are no more parking worries, since parking your bike is free.

While the price of fuel is at the heart of the debate, more and more consumers want to get on their bikes to leave their cars in the garage. Some will even go so far as to abandon their car permanently when it seems obsolete to them when the solutions to replace it are many.

One alternative is, of course, the good old traditional bike, which is enough for the more active among us. For others who prefer a helping hand – or leg – electric bikes are a good alternative and are more popular than ever. The only problem? For top range electric bikes, people should be ready to part with a few thousand euros.

But there could be a solution that suits all in the form of the company bike.

Forget the company car, it is now the company bike that is being offered by many firms as a perk of the job. More and more employers are offering their employees company bikes, with multiple benefits arising from this. First of all, it's a great way to get your staff in work on time and in shape, because they are engaged in physical activity rather than sat in traffic jams. It is also a good way to easily achieve a company’s climate goals. And of course, the costs of this "service" are 100% deductible. Taxation has also quickly adapted to this resurgence in popularity of the bicycle, offering employers and employees financial benefits that are not subject to taxation of any kind, as long as the bike is used to get to work.

Companies are increasingly looking at the many options for leasing bikes for their staff, from racing bikes to the very fashionable cargo bike, and foldable models that can be taken everywhere.

With most leasing companies, it is possible to opt for a contract for the bike only, or to add maintenance, repairs (with breakdown assistance and replacement bike), and insurance policies. The duration of the lease is generally 36 months and, again, as with similar agreements for cars, the user has the option at the end of the contract to buy back the bike at a very attractive price.

In short, if you want to give up the car to get on the bike, but you are not ready to invest a few thousand euros in a quality (electric) model, there are a number of solutions.

Written by Nick Amies