Bike Hire Scheme

We appreciate that the cost of a good bike is the most expensive part of our sport and we want to help. The club has set aside £5,000 to help make getting a decent bike more affordable, and to minimise the cost implications for you as your child grows, or if they decide to move away from cycling to another sport.

This offer is open all young riders of any age (under 18 years) in any part of our club, from Bigfoot Mini, Bigfoot Go-Ride and Bigfoot Youth.
 
In summary we buy and own the bike, and you provide an initial upfront payment of 50% of the purchase price of the bike. We then rent the bike to you for an annual hire fee of 1/8th of the bike's cost. The hire fee is effectively paid in advance for the first four years by you making the initial payment.

If you return the bicycle before the end of four years we will refund any hire fees from the initial payment on a pro-rata basis. If you keep the bicycle for more than four years we will invoice you for each additional year's hire fee.

Your responsibility is to look after the bike, maintain it, and most importantly to RIDE IT!

So if the bike costs £400, it effectively only costs you £50 per year in hire payments to us, with no minimum or maximum hire period!
 

The bikes

This scheme is only open to the purchase of new Islabikes. (Find out why we recommend Islabikes here.)

The full range of Islabikes is shown here: http://www.islabikes.co.uk/products/bikes

The Islabikes website has information to help you decide on the right size of bike.

In particular we recommend the Luath range of bikes that come with dropped handlebars. These are light but strong, and can be used on the road and (with a change of tyres) off road too. They are great for both racing and everyday riding. But if you are interested in a flat-bar or mountain bike we can consider that with you too. Note that the "Pro Series" Islabikes are not eligible for the Bigfoot Bike Hire Scheme due to their higher purchase price.

Please feel free to discuss the bike options with our coaches (or speak to Spencer on 07958 693518)


Getting the bike


  1. You choose the bike you want and complete our online expression of interest form here: https://form.jotformeu.com/71394289960368
  2. We will contact you and let you know if we can accommodate you in the scheme (funding is limited, and decisions are at the sole discretion of Bigfoot Go-Ride).
  3. If we can accommodate you in the scheme, you will need to print, complete, sign and return a hire agreement (you can download it below).
  4. You make the initial payment of 50% of the bike's cost (see how to make payments).
  5. Please scan the signed agreement and email it, along with confirmation that you have made the payment, to payments@bigfootgoride.org.uk (If you are unable to scan it please contact us and we will provide a postal address or arrange to collect it from you at a club session)
  6. We buy the bike (we will make orders as and when needed so no-one should wait too long. Refer to Islabike website for typical delivery periods).
  7. You take delivery of the bike, and advise us of the bike's colour and frame number by email to: payments@bigfootgoride.org.uk
  8. You keep the bike at your home and use it whenever you want.

We may already have an existing similar bike within the club – if so, we can offer you that bike and it will be cheaper as the calculation will be based on its second hand value.


Key responsibilities


This is a hire scheme and the bike remains the property of Bigfoot Go-Ride at all times.
 
You are responsible for paying an annual hire fee equivalent to of 1/8th of the bike's value (which is deducted from the initial payment for the first four years.)

  • If you keep the bike for less than four years we will refund any hire fees from the initial payment on a pro-rata basis.
  • If you keep the bicycle for more than four years we will invoice you for each year's additional hire fee.
 
You are responsible for all repairs and maintenance to the bicycle, and for keeping it in a clean and roadworthy condition.

You are responsible for the security of the bicycle. If the bike is lost or stolen, we reserve the right to make a charge equivalent to the full purchase price of the stolen bicycle (less any initial payment made).


Full details are contained in the hire agreement (below) which you should read carefully and ensure you understand.

 

Giving back the bike


You can return the bike and end the hire agreement at any point if you no longer need it.

You must return the bike if your child leaves the club (i.e. they are no longer a member of Bigfoot Mini, Bigfoot Go-Ride or Bigfoot Youth).

You must return the bike if the rider reaches the age of 18 (except in exceptional circumstances).

If you return the bicycle before the end of four years we will refund any hire fees from the initial payment on a pro-rata basis. If you keep the bicycle for more than four years we will invoice you for each additional year's hire fee.

You must not transfer the bike to another rider.

You must return the bike clean and in good working order.

If the bike is not returned to us clean and in good working order we will charge you what it costs us to get the bike back into a roadworthy condition, as once it is returned we will look to hire the bike to another young rider on a similar basis.


Costed examples


Example 1


The bike originally cost £600 and you keep it for 3 years.

The annual hire fee would be 1/8th x £600 = £75.

For three years the total hire fee would be 3 x £75 = £225.

You would have given us £300 as an initial payment (50% of £600).

When you return the bike after three years we would refund you £75  i.e. the difference between the total hire fee (£225) and the initial payment (£300).


Example 2


The bike originally cost £400 and you keep it for 5 years.

The annual hire fee would be 1/8th x £400 = £50.

For five years the total hire fee would be 5 x £50 = £250.

You would have given us £200 as an initial payment (50% of £400).

When you return the bike after five years we would invoice you an additional £50  i.e. the difference between the total hire fee (£250) and the initial payment (£200).


 


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Bigfoot Go-Ride,
22 May 2017, 09:30