Financial Benefits of Cycling

People often complain about the initial cost involved in buying a bike; “Sure I could buy a car for that money!” is a well-worn phrase. In reality, however, the cost of buying a decent commuter bike is negligible in comparison to to the costs of buying and running a car, and even to public transport costs, and the savings that can be gained from the minute you start commuting will add up in no time.

car vs bike

How you can save

Fuel 

Petrol doesn’t come cheap, in environmental or financial terms, so getting to work on 2 wheels instantly eliminates a large recurring cost associated with motorised transport.

Taxes and insurance

Motorists are obliged to pay motor tax (and remember, there is no such thing as Road Tax!) which in Ireland is calculated on the basis of CO2 emissions. Those with older cars will pay more, the average being about €439 per year.

Motorists must also insure their vehicles, and insurance prices are skyrocketing with the average cost of insuring a car in Ireland increasing by over 35% in the last 18 months. Check out this informative page from the AA which averages the cost of motoring in Ireland in 2015.

Parking

Unless you are lucky enough to have a dedicated parking space you’ll be looking at around €2.90 per hour to park in Dublin city-centre. Add to this the time spent trying to find a parking space and it becomes a very expensive prospect. Alternatively, you can cruise into the city on your bike and park anywhere you like, for free.

Public Transport

Cycling and Public Transport in Dublin
While public transport services in most European cities is improving, including here in Dublin with the Luas tram service, the cost to the public is steadily increasing with weekly bus fares around €27.50 and a 30-day Luas ticket costing up to €98.

Health

We have already documented to health benefits of cycling, and this can be an extra cost saving over a lifetime. Cycling improves overall health and wellbeing and will keep you away from costly doctor’s visits.

Cycle to Work Scheme

The government initiative to encourage more people to commute to work by bike can mean a huge saving off the normal retail price of a bike, and the cost can often be spread over 12 months.

The time has never been better to start commuting by bike, so why not pop over to our store and check out the wide range of commuter bikes we have available, all of which are available to purchase on the Cycle to Work Scheme.

For more info from our Benefits of Cycling Series:

Why not check out our Health Benefits of Cycling & Why Cycling is Great posts.

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