The service budget from A to Z

If you take a lease bicycle, it is very important that you send your two-wheeled companion on a regular maintenance. Therefore, sending your bicycle for regular maintenance is an absolute must. Fortunately, there is also a tax-efficient way to pay for this maintenance: the service budget. In this blog, we'll tell you what the service budget is, what you can use it for, and how you can determine yourself how much of it you need.

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:

• Annual bicycle service

The annual bicycle service is like a spa day for your bicycle and means you can say goodbye to those last-minute panic visits to the bicycle shop.

• All maintenance and repairs

Even though you maintain your bicycle 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 bicycle

Sometimes your bicycle needs to be taken to the 'bicycle clinic' for maintenance. No need to panic! The service budget also covers the costs of a possible replacement bicycle, if the manufacturer or the bicycle 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 bicycle: 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 bicycle type

The amount of your service budget depends on what bicycle you are leasing. You will need a larger or smaller maintenance budget depending on the type of bicycle.

• Bicycle 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 bicycle: for bicycles 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 bicycle 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 bicycle 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 bicycle 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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How do I use my service budget?

You can use your service budget at any bicycle dealer that is a partner of o2o. If you bring in your bicycle for servicing, repairs or other key work, you should always give the Bike ID number to your bicycle shop; the number can be found attached to your bicycle or in your myo2o Biker account. This will help you ensure smooth communication.

When your bicycle is ready, o2o will settle the bill directly with your bicycle 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 bicycle service costs, read our blog: 'Maintenance costs for my lease bicycle: 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 bicycle 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 bicycle!