How To Finance A Road Bike In The UK

Investing in a road bike can be a significant financial commitment, but there are several financing options available in the UK to help you get your dream bike without breaking the bank. How best to finance a bike is a hot topic at the moment, it’s more important than it ever has been too - with the increasing cost of bikes in the UK.

In this post, we look at some of the best options to finance your next bike.

Bank Loans

Bank Loans are an easy and controllable way to purchase a road bike - you can choose how much you want to borrow and the term, and you usually have options to make overpayments or overpay the loan to end the term quicker. Often bank loans have low interest rates, helping you save money in this regard.

Credit Card

Using a credit card is one of the most straightforward ways to finance a road bike. It’s easy - you can buy your bike immediately and pay back the money you have spent on the bike, in a flexible way and over a number of months.

Using a credit card also allows you to benefit from spending money with the credit card provider, and there’s plenty of rewards and points to be gained - you can even choose to collect air miles to book your first international trip with your bike.

Save Up

Saving up for a road bike might take longer, but it’s a cost-effective way to finance your purchase. It means you will not pay any interest on your bike, meaning that the final price you pay for your bike is as low as possible. Saving up can take time though, so sometimes it makes sense to finance your bike, especially if you need it for commuting.

Cycle to Work Scheme

The Cycle to Work scheme is a government initiative that allows you to pay for a bike through salary sacrifice, effectively spreading the cost and saving on tax. The cycle to work scheme is more generous than ever, with no caps on which bikes you can purchase - so you can use the cycle to work scheme to buy an all singing, all dancing carbon fibre road bike, if you wish.