Are you leasing an o2o bicycle? If so, you don’t actually own it. That’s why it’s really important that you look after your lease bike properly during the lease period. You can do this by having it maintained annually. And that’s what the maintenance budget is for. With that budget, your annual maintenance is also tax-efficient (i.e. cheaper). A nice bonus, isn’t it?
The maintenance budget is an annual amount that ensures your lease bicycle always remains in top condition. As this budget forms part of your total lease price, you benefit from the same tax advantages as you do with the lease bicycle itself.
What can you use the maintenance budget for?
You can use the budget at any bike shop in the o2o network for:
repairs,
the cost of spare parts,
the cost of a replacement bike,
the annual check-up.
How to determine your maintenance budget
When you start your lease contract, you decide for yourself how much you want to set aside for maintenance – between €50 and €900 – unless your employer sets a fixed amount for you. Finding it hard to estimate this yourself? Then be sure to check out this article: ‘Maintenance costs for my lease bicycle: how much can I expect to pay?.
Oh, and here’s a top tip: it’s more tax-efficient to include a little extra budget in your lease plan than to have to pay for unexpected repairs entirely out of your own pocket later on.
This is how you check how much of your budget is left
In our o2o Biker tool, you can see how much of your budget is left. You’ll also find an overview of all your previous repairs. Handy, isn’t it?
Does your budget show a negative balance? Don’t worry, your bike shop can see your total budget for the entire lease period. For example, if you have a major repair in the first year, the dealer may already be using part of the budget for the second year. Your balance will then show a negative figure, but you’ll make up for that over the course of the following lease year.