Which is better: buying or leasing a bike?

Sep 10, 2024 9 min

Which is better: buying or leasing a bike? Transport is very much changing in modern times. With the arrival of many rideshare schemes and companies such as Uber, you have a lot more options for getting around without physically owning any form of transport. One of the biggest movements has been the leasing of cars for not just companies but general day-to-day drivers.

Many people don’t know that there are similar bicycle schemes. If you wanted to, you could have a bike to help you get around but never need to own it. This article will explain the difference between buying and leasing a bike and discuss the best option.

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Buying a bike

The traditional way of getting a bike is buying one. You could go to a shop and buy something new with limited choice, or you could buy something much cheaper online pre-owned with a company such as buycycle.

The beauty of buying a bike outright means that you own it and can do with it whatever you wish. If you want to change any parts or modify it, you can, or even sell it to, buy another upgraded model or different type.

In modern times, buying a bike has become more difficult because of how quickly technology has advanced. Many bikes, especially mid to high-end models, are now much more expensive, which can make buying a bike a bit of an outlay.

long term bike rental buying or leasing a bike — Own your ride: buy a bike and make it yours!

Pros of buying a new bike

You own the bike and can do with it as you wish.
No regular payments unless you choose to use finance.
You can modify the bike any way you wish.
The condition you keep it in is your responsibility.
There is much more choice of different bikes compared to leasing.
You don’t just get new bikes but preowned ones,Many people don’t know that there are similar bicycle schemes too.
You can sell when you are finished and want to move to another bike.

Cons of buying a new bike

Large outlay when first buying
Must be maintained by yourself
Not easy to swap if there is an issue.
Insuring your bike can be challenging.

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We have a huge selection of gravel bikes, mountain bikes, and road bikes ready for purchase on our shop.

Buy a new or a preowned bike?

We are often asked about buying bikes and whether to buy new or preowned ones. Both new and preowned bikes are great options, but you get a lot more for your money when going pre-owned.

The risk of buying pre-owned was always that you might buy a poorly looked after bike, but with websites such as buycycle, that is no longer anything you need to worry about with their warranty and return policies.

Leasing a bike

Long-term bike leasing is a new option that has become available in recent years. Instead of buying a bike outright, you can lease a bike to use long-term. This is an excellent option if you don’t want to make a significant outlay or don’t know if you will like cycling.

Leasing contracts typically last from a month to a year. The longer you agree to lease a bike, the better deal you will get. It means you can have a higher-end bike to use, and there is less commitment to money.

You even find that with a lease, you get some benefits, such as many companies having insurance and some even taking care of the maintenance while you own the bike. With leasing, the choice is limited, but you can use some amazing bikes as you own them. - Alice Huot @ buycycle.

Type of bike	General cost to lease (Monthly)
Basic bike	$30 to $50
Mid-range bike	$50 to $120
High-end bike	$120 to $220 or even more

Pros of leasing a bike

Next to no outlay when leasing.
You get to choose the bike and the duration you want it.
Maintenance is often covered.
Insurance is often in the monthly cost.
Get to ride great, and still have to buy it at a cheaper cost at the up-to-date bikes at a low cost.
Companies often let you swap for other kinds of bikes.
It can come with tax benefits.

Cons of leasing a bike

You never own the bike.
Over a specific, duration you can spend more than the original bike.
You must ensure the bike is well looked after.
You cannot and must not modify the bike to suit your needs.
They often don’t let you use the bikes to race or go abroad.

Lease or rent a bike?

We are often asked what the difference between bike leasing and rental is when it comes to bikes. Well, a lease is generally very short term, but a rental is more considered long term. You cannot generally lease a bike for a weekend, but you can rent one. Long-term bike rental is more of what leasing is.

Bike leasing also comes with an offer at the end of the contract to buy the bike for a cheaper cost. It is important to remember that over the 36 months or so you might have owned it, you would have paid a lot of its value already. Long-term bike rental is not a bad way to experience a bike.

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Buying or leasing a bike: Which is for you?

There is a lot to consider when choosing between buying and leasing a bike. In this next section, we want to keep it simple and explain the main differences between the two so you can understand what is best for you.

Cost

When buying a bike, you spend your money upfront. When leasing a bike, you spend it over time. It might seem much cheaper to lease, but you do not own the bike and still have to buy it at a cheaper cost at the end of the contract.

Buying a bike outright is not cheap, but you can also buy pre-owned, which is a big saving in itself. Websites such as buycycle can accommodate this and even offer finance options, which could help.

Ownership

There’s a big misunderstanding about leasing when it comes to ownership. Most people think that when leasing, you are the legal owner of that bike when you are not. You are not unless you have finished the lease and officially bought the bike. The only way to be an owner is to buy straight out.

Modifying and preservation

You can modify a bike as much as you want when buying it. You can change parts, add performance upgrades, and make it your own. However, lease bikes are typically requested to be in the same condition as when they were new.

When leasing a bike, you also have to be careful about keeping it in tip-top condition. If you return it and it has been used for lots of bikepacking and tough riding, you might need to pay a charge. - Alice Huot @ buycycle.

Choice

When buying, you have a lot of choices and can pick any bike you like, from new to pre-owned. When it comes to leasing, you have a small pool of different bikes from which to choose. You don’t always get the bike you want but more what they have to lease.

If you are particular about what you ride, leasing might not be the best option. You could struggle to find the perfect bike and modify it as you want.

Maintenance

Another significant factor is maintenance. If you are happy to maintain or organize the maintenance of your bike, then buying is typically a good option as this is required. If you lease pretty often, most maintenance is done for you through their programs.

Having the maintenance done for you does make it a lot less hassle, but it is either included in the rental cost or you pay a premium on top, and not everything is always covered. E-bike leasing is popular for this because they often require more servicing.

Switching bikes

Another factor is switching bikes. If you like to change bikes often and have all the latest, up-to-date technology, then you might want to consider a lease over buying. Some contracts give you the option to send bikes back and get new ones. This also means you could switch to e-bike leasing if you felt you needed more assistance.

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Should you buy or lease a bike?

When it comes to bike buying and bike leasing, it is mostly about what suits your needs as a rider. Some people find they would rather buy so they can modify and make it their own, while others tend to enjoy a lease, which gives you a standard bike but a lot less hassle.

One of the best routes many cyclists go down is to buy, but instead of having a big outlay on a new bike, they buy second-hand, guaranteed with a website such as buycycle. That not only keeps the cost down but also makes switching bikes a possibility later down the line.

Make sure to check out the amazing selection of bikes on the buycycle website at incredible costs to see if anything is going to be your new bike.

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