More than 1.5 million people have used Cycle to Work in the last 24 years to save up to 42% on the cost of a new bike.
And you can buy four road-legal Engwe electric bikes on the scheme through Electroheads - saving up to £969 off the full list price (based on the X26).
What is Cycle to Work?
Cycle to Work is a government scheme where your employer effectively buys the electric bike and you pay the monthly cost of 'hiring' the bike and accessories from your gross income (ie before tax is deducted). At the end of the hire period, you can buy the bike for a small fee.
This tax-free salary sacrifice reduces the amount you have to pay tax and national insurance on - saving you between 32% and 42% on the bike cost. Schemes typically run for 12 months (but can be for longer). See below for what happens at the end.
Engwe electric bikes on Cycle to Work
You can buy 4 Engwe bikes through Cycle to Work - because you have to use the bikes for commuting, only the road-legal ones qualify. All prices are BEFORE the Cycle to Work discount
- Engwe C20 Pro: £949, 20-inch wheel, fat-tyred folding ebike
- Engwe Engine X Electric Bike: £1,049, fat-tyred folding ebike
- Engwe L20: £999, fat-tyred, long-range step through ebike
- Engwe P26: £999, 26-inch wheel, 7-speed road ebike
Not road legal in the UK:
- Engwe T14: £549, a folding electric bike with a throttle
- Engwe X26: £1,999, super powerful ebike
- Engwe M20 Electric Cruiser Bike (Double Battery): £1,349, 150km range
- Engwe M20 Electric Cruiser Bike (Single Battery): £1,050, 75km version of the M20
- Engwe Ep-2 Pro 750W: £949, fast and powerful
- Engwe Engine Pro 750W: £1,349, powerful full-suspension fat-tyred bike
The non road-legal ones either have a throttle, are too powerful or too fast to meet UK electric bike laws.
How Cycle to Work works
Choose the electric bike you're interested in plus any accessories (eligible ones are discounted too, such as helmets, clothing, lights, spec upgrades etc) and add to your cart.
You’re not committing to a purchase by building your ‘wish list’. We just need to email you the price of what you’re considering so that you can ask your employer for a Cycle to Work voucher if you decide to go ahead.
When you get to the checkout, don't enter your card number but choose "Pay Using a Cycle to Work Scheme". Check out and we will email you the quote. Please note that the use of discount codes is prohibited on Cycle to Work applications. Your application value will be adjusted and re-issued to you if a discount code is used.
We currently accept the following schemes so make sure your employer is a member:
- Green Commute Initiative
- My Benefits World
- Enjoy Benefits
When you’re ready to buy, get your employer voucher, which must be the same value as the quote we emailed you. Email the voucher andquote order number to firstname.lastname@example.org. We'll take it from there.
At the end of the agreement, you can start a new agreement, buy the bike at fair market value, or return it.
Cost to fully own the bike
For agreements over 5 years, the fair market value is almost zero.
Imagine the bike costs £1,500 and you pay higher-rate tax so you are eligible for a 42% discount and your scheme is 18 months:
- The net cost of the bike will be £1,500 less the 42% which is £870.
- You pay £48.33 a month for 18 months.
- At the end, you can buy the bike for 21% of the original £1,500 cost which is £315.
- So your total cost would be £1,185 if you keep the bike.
- Alternatively you can enter into a new agreement for a different bike.
- If your scheme runs for longer, you will pay less per month and in total - EG over 3 years you'd pay £24.16 a month for 36 months, £180 at the end and so £1,050 in total.