cycling costs
Typical costs to get started cycling
Cycling is one of the cheapest modes of travel, especially with petrol prices going through the roof!
You can spend almost anything on a new bike, but generally a decent one will cost around £250 to £300. If you buy a very cheap 'supermarket bike' then it will be extremely heavy, and likely to break down within months.
This purchase is a one off cost, and remember that an average car will cost you £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 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.
Here's a little summary to help you budget.
- Decent new bike: £250 – £300
- Accessories and jacket: £120 – £150
- Pannier and rack: £70
- Insurance: £2-£3 per month
- Maintenance: £50-100 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 well under 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 you pay the costs of bike purchase?
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!