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Cycling Money Saving Guide

Rebecca Bebbington·Jun 5, 2020

Whether you’re just starting out cycling, or you’ve been an enthusiast for years – from buying your bike to safety equipment, clothing and maintenance, it’s no secret that the costs can rack up. We want to ensure that you aren’t spending fortunes in getting on the road which is why we’ve compiled a useful guide with cost-effective ways to enjoy the sport you love.

From off-road cycling to mountain biking or just riding for fun, there are a plethora of ways to save and be frugal when it comes to cycling. As proud partners with popular online cycling stores such as Tredz, Merlin Cycles, Halfords, Cyclestore, Wiggle and more, we’ve done all the research for you and listed our handy tips right here.

5 Ways to Save Money on Cycling

1. The Cycle to Work Scheme

Riding your bike to work
Cycling to work. Image: Freepik

The Government initiative Cycle to Work Scheme is a fantastic, cost-effective way for employees to cycle to work on a brand new bike. Not only is cycling a great sport, but it’s fun too, not to mention environmentally friendly and a great way to reduce congestion. If you’re interested in commuting to work via a bike, speak to your HR manager to explore your options.

Simply put, the employee will loan their bike from their employer for a small fee. You will also get the freedom to choose your new bike, as well as accessories and safety equipment. Being part of the scheme means your new bike will be significantly cheaper – up to 42% off the RRP and the monthly fee is much smaller than the cost of petrol or taking public transport. In short, the scheme is a brilliant opportunity to increase physical activity, reduce congestion and most importantly, save money!

Tredz proudly supports the scheme and offers great advice on the best bikes for commuting. In the UK, most recent figures show that a growing 180,000 people now participate in the Cycle To Work scheme operated by employers.

2. DIY Repairs

Repairing your bike is easier with the right tools for the job. Image: Freepik

If you find yourself stuck with a bike problem but aren’t sure how to fix it and can’t afford to send it off to a professional, don’t panic. There are plenty of inexpensive ways to tackle matters with your own hands. All you need is a basic bike Maintenance Kit – great for fixing general wear like a loose chain or wobbly seat. This could save you fortunes in repair costs and will have your bike up and running in no time!

The Tredz Ice Toolz Essence Tool, priced at just £69.95 includes the whole works. And, if you make your order up to £100, you can grab 10% off using the code: MPAYMY7J – You will also receive Free Delivery when you sign up!

The Halfords 12pc Bike Tool Kit is slightly more affordable at just £21.99 and comes equipped with tyre levers, screwdrivers, spoke key, hex key set, socket tools and spanners. Bump up your order to £40, and you can enjoy Free Delivery too.

3. Purchase a Good Quality Bike Lock

Locking Your Bike
Make sure your bike is locked securely. Image: Freepik

You may wonder how buying a bike lock will save you money. Well, if your lock prevents your bike from being stolen then you will save a fortune on forking out for a brand new bike and replacing your old one. No matter how much time you spend in a shop or you leave your bike unattended, it’s best to keep it locked up! For the thieves brave enough to have a go at stealing your bike, a good quality bike lock will act as a deterrent to slow them down or even stop them.

If you’re looking for an affordable lock, this Abus Ultra 410 D Bike Lock from Merlin Cycles is a Best Seller and now just £26.99 reduced from £40. This design includes high-tech advancements virtually impossible to pick with conventional methods.

4. Trade-In your Old Bike a for a New One

Ride away on a new bike by trading your old one and be quids in. Image: Freepik

If you feel like you have outgrown your old bike, but it’s still in fantastic condition, why not trade it in for a brand new one? That’s right, many cycle retailers accept your old bike (providing it meets their requirements) and give you a brand new one at a discounted price. You could save hundreds on an upgraded bike, simply by dropping in your old one! Evans Cycles & Halfords are just a few of the places you can trade-in your used bike. This is a fantastic and affordable way to get our hands on a brand new bike without the extortionate cost!

5. Buy a Second-Hand Bike


Getting your hands a good quality bike doesn’t have to cost a fortune and buying a used bike is a great way to avoid those flashy price tags. More often than not, used bikes are in great condition and offered at hugely discounted prices. eBay is a great resource to buy used goods, as is Shpock, Preloved, Gumtree and Facebook Marketplace – if you prefer to buy local. However, do your research before-hand to ensure you pay the best price for a fully working bike.

As well, many bike retailers like Tredz and Bikesoup offer Almost New Bikes – which have often had one owner for a short period of time but are a fraction of the price. If you are interested in purchasing a used bike, research is key. You don’t want to pay a substantial price for a bike that isn’t up to scratch. Browse the internet, contact the sellers for more details and compare prices across different platforms.

And not forgetting about saving on your next bike with…

We’ve a huge selection of fantastic Cycling Discount Codes to use online at leading brands like Halfords, Wiggles, Probikekit and many more.

Some of our cycling codes ready to use online right now:-

  • Save £10 on Orders of £50 at Wiggle: NEWGB
  • 20% Saving on Shoes at Probikekit: SHOE20
  • £5 Off Selected Orders Over £30 at Evans Cycles: 5OFF
  • £10 Off Orders Over £60 at Evans Cycles: 10OFF

Correct: 5th June 2020 – Check for the latest Tredz discount codes & Halfords voucher codes

How can cycling actually save money?

How to make financial savings riding a bike. Image: Freepik

If you’re thinking about ditching your vehicle or the bus to take up cycling as a means of transport, the financial savings may just startle you. Yes, the initial cost of a new bike along with quality safety gear can be pricey, but choosing cycling over other alternative transport can save you heaps of cash – Not to mention the fun you will have too!

Start burning calories instead of your cash – switching to a bike for your commute can save you thousands each year. Oh, and you can even ditch that pricey gym membership as your daily commute can increase your fitness levels without having to sweat it out in a pain-staking gym session.

Cycling vs Driving

Use the bike lane to save £££s and loose pounds with all the excercise. Image: Freepik

If you combine the cost of a new car tied in with insurance, petrol and maintenance – you can expect to be spending thousands each year to run your vehicle. Using a bicycle to commute to work means you cut the usage of your vehicle on average 260 days of the year! The savings in fuel alone are startling enough, without the added cost of Insurance, Service and MOT’s – and that’s leaving out any repair costs.

If you purchase a quality bike along with accessories and equipment – the initial cost can seem daunting, depending on what type of bike you’re looking for. However, the average cost to run and maintain a bike for the whole year averages from £300 to £500 – significantly lower than that of a car, which can often be in the tens of thousands.

Of course, we understand that for many people, cycling to work just isn’t ideal or feasible, but cycling instead of driving where you can, could really help you pocket some savings – not to mention reduce congestion on the roads.

Save on Public Transport

If you regularly use public transport, whether that be the bus, train or tram, you’re probably all too familiar with how unreliable it can be at times. And whilst it can seem pretty inexpensive, the costs can rack up if you’re using transport several times a day, every day. Not to mention in the inconvenience of transport running late, crowded platforms, no seating!

Cycling day-to-day is effectively cost-free in comparison to the average £5 you would spend on public transport each day.

And save on Parking your Car

If you live or work in or close to a city, you will be more than familiar with how difficult it can be to park – not to mention the cost! One of the fantastic perks of commuting by bike is that you can park your bike pretty much anywhere – providing you have a high-quality lock. In some cases, you may be able to take your bike inside the premises with you. But, the best part is that parking your bike is completely free, wherever you go. Just remember to get a decent lock!

Invest in a Quality Bike

Summer is almost upon us which means now is the best time ever to route out your old bike or invest in a new one. Not only is cycling a fantastic form of exercise, but it’s also great fun, and with the current coronavirus lockdown we are facing as a country along with the excellent weather, there is no better time to take up bike riding!

Whether you want to commute to work, take up road biking or simply ride for fun, fantastic retailers such as Tredz, Cyclestore and Halfords stock a huge array of bikes along with clothing, safety equipment and more to get you on your way.

Electric Bikes

Merida EOne Twenty 900E 27.5+ 2019 – Electric Mountain Bike. Image: Tredz

If you’re looking for more speed and ease on the daily commute to work, an Electric Bike is the perfect solution. Once you take a ride on an E-Bike, you’re unlikely to ever look back. Likewise, if it’s off-road biking you’re into, An E-Bike makes climbing quicker and easier.

Tredz supplies a wide selection of Electric Bikes at varying price points – so depending on your needs will determine the price you pay. If it’s an all-rounder you’re looking for at the lower price point, the Raleigh Array Derailleur Crossbar 2020 – Electric Hybrid Bike is a great option priced at just £1,275.00 and doesn’t compromise on quality.

Likewise, Merlin Cycles stock Electric Bikes starting from just £1,349 with current savings of up to 46%! The Best-Selling Corratec E-Power 28 Active 8 Coaster 500W Bosch Hybrid E-Bike now has a huge 46% saving and is a great option for those who are looking for an all-rounder. Finance Options are available on E-Bikes at a wide selection of online stores to help you spread the cost – along with manufacturer warranty, so it’s certainly worth looking into if you’re a keen rider.

Protect your Bike With Insurance

Protect your bike with additional bicycle insurance. Image: Freepik

Finally, if you’ve decided you want to take up cycling, whether that be as a hobby, a form of exercise or you’re going to commute, a quality Bike Insurance Policy is essential. Whilst a lot of cyclists don’t take up Bike Insurance, for just a small fee, you will really benefit from cover if the worst were to happen. It’s no secret that bike theft is a common crime – with over 100,000 stolen every year, a good bike insurance policy can offer you a financial helmet if anything was to happen.

Whether you’re a speedy road rider or daring off-road mountain biker, however, you like to ride, it’s always important to keep yourself and your bike protected which is why we want to help you get the most out of your money when it comes to Bike Insurance.

It’s important to consider whether or not you bike may actually already be covered in your Home Contents Policy – and how strong that is. It could either be covered solely in the home or away from home too. Be sure to check with your provider before you take out a separate bike insurance policy. Also, if you rely on your home insurance for cover, you need to be aware that any claims made against your bike could potentially push up your future home contents cost so you will need to assess if it’s worth it.

If your bike is on the pricier spectrum, you’re probably best off going for Specialist bicycle cover. These types of policies are usually aimed at cycling enthusiasts, competitors and those serious about riding. As well as covering your expensive bike, specialist insurance covers lost race fees, clothing and accessories – which can be expensive.

Start comparing Bike Insurance Policies now using the likes of Money Supermarket, Compare the Market or Go Compare to find the best possible price for your cover. Alternatively you can now get a great price on bike insurance from specialist bike stores like Chain Reaction Insurance.

In short, yes, cycling is a fantastic sport, hobby, leisure activity and form of transport, but looking after your bike will save you money, hassle and stress in the long run – leaving you more time to enjoy the freedom of being on the road.

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