Can I lease a bike as a private person?
Although bicycles are conquering the streets, you cannot lease a bicycle as a private person in Belgium. Leasing a bicycle is only possible through your employer. This can be done with various budget neutral solutions. Wage exchange is the most common form of bicycle leasing. The lease amount is deducted from the gross salary. Companies that offer a company car frequently also offer a cafeteria plan or mobility plan. Such companies may include bicycle leasing in a flexible remuneration package. If you have the good fortune of a generous employer, they might offer a company bicycle as an extra! But what if your employer does not give you the option of leasing a bicycle?
You cannot lease a bicycle as a private person
Leasing an electric bicycle is not possible for a private person. The advantage of a leased bicycle is that the lease amount is deducted from the employee's gross salary. If it is possible to lease a bicycle as a private person, the gross-net benefit will not apply. So as a private person, it is cheaper to buy a bicycle. Unfortunately, they are not cheap!
Interest-free bicycle loan
Of course you can choose to buy a bike yourself.
For example, if you buy a speed pedelec with a bicycle helmet (mandatory with this kind of bike) and a waterproof bicycle bag, this will knock you back close to € 7000! For most people, that is a serious amount of money. That is why at Cyclobility we now offer an interest-free bicycle loan .
Benefits
Nowadays many banks offer bicycle loans. The advantage of a bicycle loan with Cyclobility compared to a standard loan is the 0.0% interest rate . That is a nice little present when you buy a bicycle from Cyclobility.
After paying the last instalment of your loan, the bicycle becomes your property . The average lease term is 48 months. At the end of this term, the bicycle is still the property of the leasing company. You can also choose to take over the bicycle by paying the residual value.
With a loan, you only pay the value of the bicycle and the interest (with Cyclobility, you don’t pay interest). When you lease a bike, you pay for more than just the bike. Cyclobility chooses to include the following services in the lease package: maintenance & repairs, insurance against theft and damage and breakdown assistance.
Disadvantages
The biggest drawback of a loan is that this amount is not deducted from your gross salary and therefore you do not benefit from the exemption from National Insurance and income tax. Interest rates are low for green loans, but your bank will still want a slice of the cake. At the end of the day, the bike will cost more than if you leased it or bought it outright.
After the lease period, you can choose to take over the bicycle . If after four years a new model catches your eye, you can leave the bike with Cyclobility. Who knows what futuristic e-bikes will be for sale in four years!
When you lease a bicycle with Cyclobility everything is taken off your hands . You can leave everything to us. The bike is delivered to your home, you are entitled to at least one service at your company, and insurance for damage and theft and breakdown assistance are included. If you buy your own bike, you have to take care of all these things yourself.
Why is bike leasing such a good deal?
Bike leasing includes renting a bike as well as everything that is part of your cycling experience: maintenance, insurance against theft and damage, bike assistance and a replacement service.
Cyclobility offers a bicycle leasing package tailored to your company.
When you lease a bicycle in Belgium, the employer and employee generally agree that a bicycle is made available in exchange for a salary deduction. And that is a wonderful thing, because the contribution is deducted from the gross monthly pay, and therefore exempt from income tax and National Insurance, which means the employee only pays half of the actual cost.
And if the employer pays a bicycle allowance, it is actually possible to reduce the cost for the employee to zero. In some cases it is even possible to make a profit!
Options as a private person
Buying your electric bike or taking out a bicycle loan are currently the only options you have as a private person. See if you can get your employer or HR manager interested in a bicycle lease plan. Cyclobility will explain the full story of how a budget-neutral bicycle lease works in very simple terms. We will visit you at your company. We are also prepared to give an online presentation.
