General information

How does it work?

Your employer provides the Canyon through the GCI scheme. You can pay from your salary over any period you and your employer agree. Common terms are 12, 18, and 24 months. This reduces the amount of tax you have to pay so you can make significant savings on your bike. Find out how much you can save using the GCI online calculator: https://greencommuteinitiative.uk/savings/

Which Canyon bikes can I buy through GCI?

You can pick from all new bikes and Factory Outlet bikes – unlike other schemes, there is no £1,000 limit, so you can browse the full range of Canyon bikes. The Bike Guard as well as shipping costs and certain accessories can also be included.

Which accessories can I include?

You can add accessories and safety equipment including racks, child seats, locks, lights, helmets, and clothing. The accessories must complement the bike purchase: HMRC suggest a common-sense approach.

What happens after the initial hire period?

If your repayment period is longer than 12 months, then after a year, GCI will get in touch to offer an interest-free loan of the bike for 5 years. This is required due to HMRC regulations. At the end of that time, GCI can transfer the ownership title to you for a £1 fee. In essence, the bike is yours from day one.