Savings (tax) and paying installments
Ask your employer if they operate the Cycle Scheme and you could buy your Kangaroo monthly and save up to a maximum of 42% on the cost thanks to a government backed "Cycle Scheme" introduced in the 1999 Finance Act.
An example for a £2,280 bike comes out at £129/month from net salary (£190 from pre-tax salary) - see below.
Your employer buys the bike (and equipment), then leases it to you through an interest-free salary sacrifice scheme. In short, this means you'll pay less for your bike and will be able to pay in installments. The Cycle Scheme is a salary sacrifice. This means the cost of a new bike and equipment is deducted from your salary as a non-cash benefit, so you save on tax and national insurance.
Your options are as follows:
A. If you work for a large employer you may find that it either:
> Run it In-house through the HR and Payroll depts.
B. If you are a small company or are self-employed you can still implement the system - your Finance/HR function can run it fairly easily. See Guidance.
Loan to buy
Many large employers also offer interest free loans to help purchase cycles - ask your HR Dept.