What is this service budget, then?
The service budget is a budget that allows you to keep your lease bike in tip-top condition in a tax-efficient way. It means that you can pay for your bike maintenance using your gross salary instead of your net salary. At the start of your lease contract, you determine yourself what annual budget you want to cover maintenance costs, as long as it is between 50 and 400 euros.
How does that work in practice? It’s very simple: the amount you choose is added to your lease costs that are deducted from your gross salary every month. If you take your two-wheeler for maintenance, you just pay out of your service budget! We’ll explain below exactly how you use this service budget.
What can I use the service budget for?
The o2o service budget is not simply a boring clause somewhere in your bike contract. On the contrary, it’s your secret weapon for care-free bike riding! Let us take you on a journey through the possibilities offered by this budget and tell you about everything it can be used for.
The o2o service budget can be used for four important things:
The annual bike service is like a spa day for your bike and means you can say goodbye to those last-minute panic visits to the bike shop.
- All maintenance and repairs
Even though you maintain your bike properly, sometimes things go wrong, a part breaks or something needs replacing. Fortunately, the service budget also covers maintenance and repair costs.
- Budgeting for possible spare parts
Whether you fancy a brand-new seat, those high-performance tyres, or that pretty bicycle basket you’ve always dreamed about, you can also use your service budget to budget for spare parts.
- (Potential) costs associated with a replacement bike
Sometimes your bike needs to be taken to the ‘bike clinic’ for maintenance. No need to panic! The service budget also covers the costs of a possible replacement bike, if the manufacturer or the bike shop does not provide one free of charge. So you’ll be back on the road in no time.
The myo2o Biker platform enables you to always keep one eye on your service budget, meaning you’ll always be one step ahead of potential expenses and you’ll avoid unpleasant surprises. You’ll also have an overview of all previous repairs, so you know exactly what was done to your precious two-wheeler.
Service budget for your lease bike: how much is enough?
Your service budget is always between 50 and 400 euros per year. That’s quite a large range, so how do you choose the right service budget? Let us provide a few guidelines.
1. Service budget based on your bike type
The amount of your service budget depends on what bike you are leasing. You will need a larger or smaller maintenance budget depending on the type of bike.
- Bike without electric drive: for the non-electric, trusty two-wheelers, a budget of between 50 and 150 euros per year is enough, since there are no expensive parts such as motors or batteries that result in high costs when faults occur.
- Conventional electric bike: for bikes with an electric ‘boost’ function, we, at o2o, recommend a budget of 150 to 250 euros per year. The electric components sometimes require a little extra care and attention.
- Speed pedelec: if you have a need for speed on two wheels with a speed pedelec, then a budget of more than 250 euros per year is a safe choice. These bruisers require a little extra care and maintenance.
How often should your bike be serviced? You can read about this in our blog: ‘How often do I need to maintain my lease bicycle?‘
2. Know yourself
To work out the service budget you will need, you should consider the following questions:
- Are you a dedicated commuter who braves the elements every day, or are you among those who take the bike for a leisurely ride now and then?
- Are you handy with tools and not afraid to get your hands dirty, or do you prefer a clean, scratch-free manicure?
Do you cycle a significant distance every day whatever the weather? You are better off choosing a service budget that is closer to the upper limit than if you only get your bike out now and then when the gods of weather are in a good mood. If you’re all fingers and thumbs when it comes to repairs, you’re also better off choosing a higher service budget.
Tip: get the best out of your bicycle leasing and make sure your service budget is not too low. It’s better to have a slightly higher budget than you need than having to make up the shortfall from your net salary.
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Want to know how to take the best care of your lease bike? Want to get the most out of your lease experience? Sign up for our newsletter and get advice, tips and updates from our bike experts. Then you’ll be in the know when you’re out on the road! No hundreds of emails that tell you nothing, but just a handful of emails packed with cycling tips, advice and updates!
How do I use my service budget?
You can use your service budget at any bike dealer that is a partner of o2o. If you bring in your bike for servicing, repairs or other key work, you should always give the Bike ID number to your bike shop; the number can be found attached to your bike or in your myo2o Biker account. This will help you ensure smooth communication.
When your bike is ready, o2o will settle the bill directly with your bike shop. And if you don’t have enough service budget to pay for this round of servicing, no panic! You can just make up the difference yourself there and then.
If you’re wondering how much a bike service costs, read our blog: ‘Maintenance costs for my lease bike: how much can I expect to pay?‘
What about my remaining service budget?
If you had a larger service budget than you needed, no worries: you won’t lose your hard-earned money just like that! You can just carry over the remaining amount to the next lease year. And when you reach the end of your lease, you can use your service budget to get your bike in tip-top condition! And if you still have any budget left over, you’ll receive a voucher with extra service budget when you order your next o2o lease bike!
Want to stay informed about tips and the latest news? Subscribe to our newsletter!
Want to know how to take the best care of your lease bike? Want to get the most out of your lease experience? Sign up for our newsletter and get advice, tips and updates from our bike experts. Then you’ll be in the know when you’re out on the road! No hundreds of emails that tell you nothing, but just a handful of emails packed with cycling tips, advice and updates!
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