Cyclescheme!!!
12 March 2009, 09:49 PM
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Cyclescheme!!!
Hello, i remember a thread on here a while ago about biking to work, a few people mentioned the cyclescheme and ive been looking into getting it in my work since. I am trying to prepare a bit of info to give to my employers and also fellow employees, the only thing that i cant really find out about is this final payment thing that you pay to keep the bike at the end?
has anyone purchased a bike this way and if you have how did you get on with paying for it?
any help appreciated as i want to submit it tomorrow to the bosses
has anyone purchased a bike this way and if you have how did you get on with paying for it?
any help appreciated as i want to submit it tomorrow to the bosses
12 March 2009, 10:12 PM
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The schemes are still running. I signed up to one today.
The final payment thing is left muddy deliberately to avoid the scheme being seen as a benefit (even though it is). It seems its usually left as a "disposal payment" and that you may be given the opportunity to pay a sum that is no more than the "disposal payment" to purchase the bike.
The final payment thing is left muddy deliberately to avoid the scheme being seen as a benefit (even though it is). It seems its usually left as a "disposal payment" and that you may be given the opportunity to pay a sum that is no more than the "disposal payment" to purchase the bike.
12 March 2009, 10:25 PM
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its definatly still running an will be for a good while.
i keep hearing of payments of 5% of the origianl price, i:e £1000 bike final payment of £50. you heard this or is it a myth?
i keep hearing of payments of 5% of the origianl price, i:e £1000 bike final payment of £50. you heard this or is it a myth?
12 March 2009, 10:27 PM
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12 March 2009, 10:29 PM
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12 March 2009, 10:41 PM
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aahh yeah i see what you mean
i wish i could do it as i would like to have a full susser to go with my hardtail
i wish i could do it as i would like to have a full susser to go with my hardtail
12 March 2009, 10:43 PM
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im going the other way pete, i want a road bike, if i get this scheme in in our place i have my eye on a speialized one for 1k. means i get it for bout 600. big savings mate
12 March 2009, 10:50 PM
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12 March 2009, 10:52 PM
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12 March 2009, 10:54 PM
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The scheme can't say it will be mine - that's the loophole.
What mine says is this...
No advance payment is required. You hire a bicycle and bicycle safety equipment for a fixed period of 18 months. At the end of the Period of Hire you will be charged a collection and disposal fee of £35 (from net pay). Alternatively, you may be given the opportunity to purchase the Bicycle Package at its then fair market value which is not expected to exceed £35. Any sale of the Bicycle Package will be the subject of a separate agreement.
Read between the lines...
What mine says is this...
No advance payment is required. You hire a bicycle and bicycle safety equipment for a fixed period of 18 months. At the end of the Period of Hire you will be charged a collection and disposal fee of £35 (from net pay). Alternatively, you may be given the opportunity to purchase the Bicycle Package at its then fair market value which is not expected to exceed £35. Any sale of the Bicycle Package will be the subject of a separate agreement.
Read between the lines...
12 March 2009, 11:02 PM
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The scheme can't say it will be mine - that's the loophole.
What mine says is this...
No advance payment is required. You hire a bicycle and bicycle safety equipment for a fixed period of 18 months. At the end of the Period of Hire you will be charged a collection and disposal fee of £35 (from net pay). Alternatively, you may be given the opportunity to purchase the Bicycle Package at its then fair market value which is not expected to exceed £35. Any sale of the Bicycle Package will be the subject of a separate agreement.
Read between the lines...
What mine says is this...
No advance payment is required. You hire a bicycle and bicycle safety equipment for a fixed period of 18 months. At the end of the Period of Hire you will be charged a collection and disposal fee of £35 (from net pay). Alternatively, you may be given the opportunity to purchase the Bicycle Package at its then fair market value which is not expected to exceed £35. Any sale of the Bicycle Package will be the subject of a separate agreement.
Read between the lines...
from what i understand this is right, you at first lease it, then at the end of the plan they take a % of the initial price, said to be 5% and the bike is then yours to keep.
how much is your bike again?
12 March 2009, 11:07 PM
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It's a great way to get a bike but you are only meant to buy one to use to commute to work, not for any other reason.
Now for the hard of humour... that was tongue in cheek. However the scheme is called Cycle to Work and is meant to be to buy a commuting bike (yeah right). the thing to remember is that the bike is not yours until the final payment and if you leave teh employ of the owner of the bike you will be liable for a fair market payment.
Bottom line is you get a bike for about 1/2 price. My bleeding employers (FTSE 100, 35,000 employees) said it was too expensive last year but have decided to do so this year (Summer) to improve their 'green' credentials....
Now for the hard of humour... that was tongue in cheek. However the scheme is called Cycle to Work and is meant to be to buy a commuting bike (yeah right). the thing to remember is that the bike is not yours until the final payment and if you leave teh employ of the owner of the bike you will be liable for a fair market payment.
Bottom line is you get a bike for about 1/2 price. My bleeding employers (FTSE 100, 35,000 employees) said it was too expensive last year but have decided to do so this year (Summer) to improve their 'green' credentials....
12 March 2009, 11:07 PM
#19
That's correct as far as i am aware. I got my mountain bike through my work and i am still paying it at the moment. The companies wont charge too much for the final payment or they would just end up getting loads of unwanted used bikes back.
12 March 2009, 11:10 PM
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It's a great way to get a bike but you are only meant to buy one to use to commute to work, not for any other reason.
Now for the hard of humour... that was tongue in cheek. However the scheme is called Cycle to Work and is meant to be to buy a commuting bike (yeah right). the thing to remember is that the bike is not yours until the final payment and if you leave teh employ of the owner of the bike you will be liable for a fair market payment.
Bottom line is you get a bike for about 1/2 price. My bleeding employers (FTSE 100, 35,000 employees) said it was too expensive last year but have decided to do so this year (Summer) to improve their 'green' credentials....
Now for the hard of humour... that was tongue in cheek. However the scheme is called Cycle to Work and is meant to be to buy a commuting bike (yeah right). the thing to remember is that the bike is not yours until the final payment and if you leave teh employ of the owner of the bike you will be liable for a fair market payment.
Bottom line is you get a bike for about 1/2 price. My bleeding employers (FTSE 100, 35,000 employees) said it was too expensive last year but have decided to do so this year (Summer) to improve their 'green' credentials....
same here, i work for jag land rover so 15k workforce and a bloody big carbon footprint, if i get this in then loads of the lads are up for getting bikes
12 March 2009, 11:11 PM
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I will get a voucher for £500. I will also get a voucher for 15% of that (£75) to spend on accessories. The accessories are immediately my property.
I'll give up about £16 a month from my salary for 18 months to pay the "hire fee".
There will then be a £35 disposal fee (or opportunity to purchase). Total to me is about £330 (better than that in reality because it's tax and NI free).
I'll give up about £16 a month from my salary for 18 months to pay the "hire fee".
There will then be a £35 disposal fee (or opportunity to purchase). Total to me is about £330 (better than that in reality because it's tax and NI free).
13 March 2009, 09:43 AM
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I used it with our own company. We work from home, we were honest (employee addresses the same as work one) and got it fine. Two nice MTBs for a lot less money.
TBH it's easy to get it sorted and there are no checks on bike use at all.
You buy the bike off your company for a nominal fee. Nice companies will make that a fiver or something, nasty ones will make it more.
TBH it's easy to get it sorted and there are no checks on bike use at all.
You buy the bike off your company for a nominal fee. Nice companies will make that a fiver or something, nasty ones will make it more.
13 March 2009, 09:56 AM
#23
There are also some shops that will allow you to get two bikes and they mark it down as one expensive one so that way you could get one for her in doors as well. My mate at work got three, one for him and then one for his wife and kid.
13 March 2009, 10:41 AM
#24
I have one of these through the scheme,
Got it last August, have done about 1400 miles since I started in June on an old Racer, love it, cant see me going back to driving every day, I do a 15 mile round trip, seemed quite a feat when I started, now its a doddle, I have filled my car once this year so far. I have panniers fitted so I can carry quite a lot, 17 inch lcd monitor the other night. Its nice that the weather and light is improving, after the winter its lovely.
Going to get a nice road bike when it comes round after I have paid for the Cannondale, a lot bought bikes at work through the scheme, mainly full suss mountain bikes that now live in the garage as they are useless for anything other than tearing down hills, one girl bough an Orange MTB, a grands worth and used it once !
Got it last August, have done about 1400 miles since I started in June on an old Racer, love it, cant see me going back to driving every day, I do a 15 mile round trip, seemed quite a feat when I started, now its a doddle, I have filled my car once this year so far. I have panniers fitted so I can carry quite a lot, 17 inch lcd monitor the other night. Its nice that the weather and light is improving, after the winter its lovely.
Going to get a nice road bike when it comes round after I have paid for the Cannondale, a lot bought bikes at work through the scheme, mainly full suss mountain bikes that now live in the garage as they are useless for anything other than tearing down hills, one girl bough an Orange MTB, a grands worth and used it once !
13 March 2009, 10:43 AM
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JACKO - a Bad Boy (the bike that is)?
Bought a £1200 Stumpjumper and a £600 Rockhopper Disk with our voucher. Had to top up the £200 for the Stumpy but that was fine.
Was all pretty easy and didn't have to sign a hire agreement as it's our own company.
Bought a £1200 Stumpjumper and a £600 Rockhopper Disk with our voucher. Had to top up the £200 for the Stumpy but that was fine.
Was all pretty easy and didn't have to sign a hire agreement as it's our own company.
13 March 2009, 10:52 AM
#26
Yep, thats the one, love it, going to put the summer tyres back on this weekend after months of sensible but slow all terrain tyres.
I wish more people would cycle, they don't know what they are missing, I think we go from having one as a kid and then get a car and forget about it, also the fact that a lot of the market is biased towards MTB's as a hobby rather than transport doesnt help, MTB's are great but a bit specialised.
I think the danger element puts people off, I know someone who wont cycle due to it being dangerous, drives everywhere, is very overweight and has just been told they have type 2 Diabetes, funny how people will accept a slow, painful and certain descent into illness and death by inactivity and eating crap but cant cope with the possibility of a good old splattering by Eddie Stobarts finest. Girl at work is the same, she resents the walk across the car park !
I wish more people would cycle, they don't know what they are missing, I think we go from having one as a kid and then get a car and forget about it, also the fact that a lot of the market is biased towards MTB's as a hobby rather than transport doesnt help, MTB's are great but a bit specialised.
I think the danger element puts people off, I know someone who wont cycle due to it being dangerous, drives everywhere, is very overweight and has just been told they have type 2 Diabetes, funny how people will accept a slow, painful and certain descent into illness and death by inactivity and eating crap but cant cope with the possibility of a good old splattering by Eddie Stobarts finest. Girl at work is the same, she resents the walk across the car park !
13 March 2009, 10:52 AM
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Good old bad boy - i was going for one myself but stumped for the Specialized Tricross Sport as it better suits my 14.4 mile commute (each way you bleeding part timer J4cko 
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13 March 2009, 11:08 AM
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Kieran - thinking of getting a Tricross myself. Any problems with it? Are the brakes okay?
I do a measly 10 (very hilly) miles a day each morning as a "fake" commute as I work from home!
Agreed that lots use the wrong sort of bike for the job and put themselves off. It's fantastic for fitness and doesn't blow up your knees like running does (which I do a lot of too but all off road to ease the impact).
I do a measly 10 (very hilly) miles a day each morning as a "fake" commute as I work from home!
Agreed that lots use the wrong sort of bike for the job and put themselves off. It's fantastic for fitness and doesn't blow up your knees like running does (which I do a lot of too but all off road to ease the impact).
13 March 2009, 11:11 AM
#29
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I bought a Genesis Core 1 last year and have used it fairly regularly. This year I'm paying for a Gary Fisher hard tail for the wife and its only been used once. I've used hers more than she has.