cycling costs

Cycling is one of the cheapest modes of travel.

You can spend almost anything on a new bike, but generally a decent one will cost around £200 to £300.

This is a one off cost, and remember that an average car will cost you an average of £273 a year just for maintenance* – never mind the cost of buying, insuring, taxing, fueling and parking. *(Source: Sustrans).

You can buy a second-hand bike to save money, but it’s important that you are sure that it is in a good and safe condition. If you aren’t sure, then it would be best to buy one from a shop, or from a second-hand recycling organisation like Recyke Y’ Bike in Newcastle or Sports Recycler in South Shields.

What will it cost me?
Here's a little summary to help you budget.

Decent new bike: £200 – £300
Accessories: £120 – £150
Pannier and rack: £70
Insurance: £2-£3 per month
Maintenance: £100 per year (depending how much you use it!)

If you own your bike for 5 years and do 2,000 miles a year on it, then your total cycling cost could be less than 10p per mile, just a quarter of the 40p per mile to run a typical car. And it keeps you fit too! Can your employer help pay towards your bike? Though cycling is already one of the cheapest forms of travel you can save even more money by buying your bike through a Salary Sacrifice scheme. With such a scheme you can make savings of between 30% and 40% on a bike of your choice. It works because the cost of the bike (and accessories) can be taken from your pre-tax salary.

Your employer makes the payment for the bike up-front, and you can relax knowing that you pay back manageable amounts straight from your salary over a 12 – 18 month period. You then make a final payment at the end and the bike is yours.

Speak to your employer directly about this scheme, and if they don’t offer it, encourage them to do so – it saves them money too!