Over 95% of participants will save between 25%-39% when taking part in the scheme. We therefore recommend that you promote the same percentages in store.
The exact amount your customers will save depends on their circumstances (specifically rate of taxation) and the cost of the bike and/or accessories.
The good news is that everybody saves:
Minimum savings for lower rate taxpayers tend to be 25% to 29%
Minimum savings for higher rate taxpayers tend to be 35% to 39%
To check exact savings, customers can make use of our Savings Calculator.
This handy graphic shows you a breakdown of what savings look like for a Cyclescheme certificate with a value of £2,150:
You'll note that the graphic includes an End of Hire cost. This is because the customer hires the use of the equipment from their employer during the Hire Period, so must make an additional payment to become the owner.
We have lots of information on End of Hire within this Knowledge Base tile. Other useful links are:
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