flexabike

Flexabike lets you ride a premium electric bike or an electric cargo bike to see if it fits your lifestyle without committing to buying one from the start.

Terms and Conditions

Flexabike Subscribe or Flexabike Subscribe to Own Agreement


1. Initial Payments

Security Deposit

A $500 Security Deposit is required for all Flexabike Agreements. This can either be put towards a final purchase of Your Bike (lease to own only) or refunded to you (less any outstanding charges) when your your Flexabike agreement ends.

Your Flexabike payments 

These are paid monthly in advance, and are to be paid by Direct Debit to our nominated Bank Account and are due on the anniversary date of your contract. This date is shown in Addendum 1 as “1st payment due date”.

A reference for your payments is shown in Addendum 1 as Flexabike Reference Number.

The first payment is due with the $500 Security Deposit at collection of your bike. 

The payment amount is shown in Addendum 1 as “First Payment Amount due prior to pickup”.

 

2. Documents required

In order to setup your Flexabike agreement we will require copies of, and to sight the following original documents:

  • 1 x Current Australian Government issued ID containing a photo (Drivers Licence / Passport)
  • 1 x Utility bill in your name showing current address
  • 1 x Bank statement in your name showing full account details (transaction details to be redacted)
  • 1 x Credit Card details in your name to be held on file as backup should any payments be missed
  • 1 x Recent payslips (payment details can be redacted)

 

3. Maintenance

Regular Servicing

Depending on the model of bike we recommend regular servicing based on distance travelled and / or passing of time (much like a car).

Typically this is every 8-12 months / 1500 – 2000km’s.

The cost of servicing is included in your Flexabike Agreement.

Servicing takes place at our Brunswick East Store Location (or any other Location that we may at the time be using) and normally takes around ½ day to complete. Your bike will need to be dropped off at the location, and picked up once the service is completed.

Note that if the service schedule is not followed, and as a result additional damage is caused the cost of this will need to be passed on.

Repairs

Things can break, we know that, therefore the cost of normal repairs is included in your Flexabike Agreement. 

There are some exceptions such as if your bike has been used for a purpose it’s not intended for (down hilling a Cargo Bike is a good example of what not to do!), or any commercial use, including any “gig” style work unless specifically agreed by us.

If in doubt, ask first !

Any tampering of the motor (i.e. “unlocking” the speed restrictions) is detectable even when removed, so please don’t, as all costs associated with this will be charged to you.

If we feel any damage has been a result of misuse or abuse, the cost will be charged to you.

Maintenance and repairs can only be carried out by ourselves, or a third party approved by us in advance. Your bike will need to be dropped off at our nominated Location, and picked up when work is completed.

 

4. Insurance

We are reducing as much cost as we can in order to make your Flexabike Agreement and ownership of your bike affordable.

If you have an insurance policy that provides sufficient cover for Your Bike, proof of this can be provided. The cover will need to include when Your Bike is away from your home address, and also when being ridden for the full value of the Your Bike and the included accessories.

Otherwise, we have a subsidised policy available through Velosure Insurance that is $7.50 per week. This must be added at the time of collecting your bike and is not included in the quoted amounts unless stated otherwise.

Your bike must be kept in a secure location at all times, and the provided lock used to secure it to a solid object. To remove any doubt your bike should not be left unattended in a public area over night.

There is a $500 excess payable for any loss event. 

In the event of your bike being stolen, we will need a copy of the police incident report and you will also need to return all the keys to us.

We may also require additional information for the completion of the insurance claim.

There may be a tracker fitted to your bike which must not be interfered with. This uses the Apple “Find My” system and as such their privacy agreement is applied to any information gathered by the tracking device.

Note, damage to your bike caused by theft / attempted theft or through accident whether caused by you through no fault, or at fault, or by a third party is your responsibility and if Insurance cover is declined / not covered, any costs will be charged for.

Your bike must be kept in a secure location at all times, and the provided lock used to secure it to a solid object. To remove any doubt your bike should not be left unattended in a public area over night.

 

5. Swapping your Flexabike Bike

We understand that circumstances change, and you may find that your dream bike is suddenly not quite so dreamy, and you may need something different.

Switching to a new Flexabike Bike

If you wish to switch to a new bicycle, your Flexabike agreement will reset to the start of a new Flexabike agreement based on the value of your new bike. Your monthly payment will be adjusted accordingly. 

Your existing bike will need to be returned to us in acceptable condition. Your security deposit can be transferred to the new bike.

Switching to a used bike

Where available, you may be able to switch to a previously owned bike. If this is available your new Flexabike contract will be based on the depreciated value of the used bike. Note that accessories will typically be new, and priced accordingly.

If you are thinking of switching bikes please contact us to discuss the best options.

 

6. Ending a Flexabike Agreement 

Ending a Lease Agreement

The big benefit of the Flexabike Agreement (Lease) … is it is fully flexible. 

All we ask for is 30 days notice of your intention to end your Flexabike agreement, and the bike(s) returned to us in acceptable condition.

Note there is a minimum initial subscription period of Three months for lease-only plans.

Ending a Lease to Own Agreement

The big benefit of the Flexabike Agreement (Lease to Own)… is you are going to own your bike after the completion of two years.

Your security deposit can also be applied so this typically means “New Bike Day” occurs a few weeks before the 2 years has passed.

Everyone loves New Bike Day!

At the end of your Flexabike Agreement, the ownership of the bike passes fully to you, and at

which time the tracking device can either be removed and returned to us, or connected to your own device.

We will contact you prior to this happening, and finalise everything.

 

Ending a Lease to Own agreement before 2 years

You can end a Flexabike Agreement Lease to Own at any time by giving us one months notice from your payment date, in writing, and then returning your bike to us along with all provided accessories, locks and all keys.

Fair wear and tear is accepted, but any excessive wear, or any damage (see Repairs above) will be payable.

All Flexabike payments made up to the time of return of your bike are retained as rental of your bike.

Or,

At the start of your Flexabike Agreement (Lease to Own only) you will be given a Depreciation Schedule showing the value of your bike with the accessories week by week.

You can purchase your bike at any stage by paying the current value as laid out in the Depreciation Schedule. Your Security Deposit can also be put towards this.

Should you wish to purchase your Flexabike bike in order to on sell, please contact us to discuss this process.

 

7. Cancellation by us of your Flexabike Agreement

If at any stage through the Flexabike Agreement we feel you are not adhering to the agreement, we may elect to end your Flexabike Agreement early, with immediate effect and without recourse.

This cancellation will result in your bike and accessories, and all keys being returned to us, any outstanding payments due being paid (including for any repairs required), and the forfeiture of any payments made to date.

Failure to return your Bike when requested may result in the full cost of replacement, and any associated costs being charged for.

This sounds extreme, but would normally only happen if you are not making your payments on time, or we believe your bike is not being used for the agreed / intended purpose or not being well cared for. 

Other events may require us to take this action, but we will try and resolve any issues prior to canceling.