Bike leasing company BikeFlex has announced a new £200 subsidy aimed at encouraging more people to ride bikes and e-bikes in the UK.
Under the scheme, those who lease a new bike or e-bike through BikeFlex or participating manufacturers will receive a £200 subsidy funded jointly by the manufacturer and BikeFlex.
A statement from BikeFlex said: "Leasing already makes a new bike or e-bike more accessible, as there is no deposit and you are not buying the bike outright.
"It’s also more flexible as you have the option to own it with a final payment at the end of the lease. This new subsidy will make it even more affordable with £200 off your lease payments.
"We wanted to invent a more affordable way to get a new e-bike (or bike too if you want), so we launched BikeFlex, with flexible bike leasing for UK consumers, and businesses.”
BikeFlex is offering access to a range of road and gravel bikes from £77 per month. It has three lease plans to choose from: personal lease, cycle to work lease, and business fleet lease.
The company is the brainchild of ex-professional rider for Team GB and Team Sky and former British Champion, Russ Downing; Team GB track cyclist and Olympic silver medallist, Ryan Owens; and entrepreneur and technology investor, Tim Hammond, who launched the Cycle Espresso cafés network last year with Downing.
The company believes bike subscriptions will attract a younger demographic who are less likely to get credit for long-term financing, but who also want the flexibility of changing bikes on a more frequent basis.
The new £200 subsidy equates to one to three months leasing, depending on the bike, on a 12 month lease. It’s jointly funded by BikeFlex and the manufacturer and is available on a wide choice of bikes and e-bikes from £77 per month, including servicing and insurance via Laka.
The voucher can be claimed at bikeflex.co.uk. The company will also be at both the The Cycle Show at London’s Alexandra Palace in April and the National Cycling Show at the NEC, Birmingham in June, where visitors can redeem their £200 subsidy voucher against one of a range of lease bikes and e-bikes from participating manufacturers.