Customers can either pay £30 a month, about £1 a day, for an annual subscription, which includes insurance and discounts from merchandise partners, or £42 a month for ‘flexi’ 30-day contract.
Insurance, repairs and twice-yearly servicing are included. The scheme does not require a deposit.
According to Brompton, its prices undercut Cycle to Work schemes which cost an average of £56 a month for a premium bike.
Brompton Bike Hire managing director Julian Scrivens said: “There is a significant shift towards cycling now more than ever, but not everyone wants to or can afford to buy a bike outright.”
“Our pay-as-you-ride schemes are already enormously popular, but we wanted to give the public another option which allows them to keep a bike for longer periods.”
“This new subscription service will revolutionise the way people own a bike, giving them a premium product without the upfront price tag. It’s an option to make everyone’s life easier, whether you’re a commuter, student, family or just want to cycle on the weekends but don’t want to commit or have the space to own a bike forever.”
Read the August issue of BikeBiz below: