Anyone bought a bike through Cyclescheme?
Discussion
http://www.cyclescheme.co.uk/
Hi all,
Just wondering if anyone has got a bike through this scheme, what were your experiences, and also how much did you actually save, the site says you can save up to 50%, also can you get a bike on this scheme from Halfords
Thanks!
Hi all,
Just wondering if anyone has got a bike through this scheme, what were your experiences, and also how much did you actually save, the site says you can save up to 50%, also can you get a bike on this scheme from Halfords
Thanks!
sorry wrong thread!!!
as the man says, halfrods have a "cycle 2 work" scheme which is different, you can use the cyclescheme voucher at almost any bike shop in the country, a quick check with my postcode (Bristol) indicated about 20 shops in the area....
as the man says, halfrods have a "cycle 2 work" scheme which is different, you can use the cyclescheme voucher at almost any bike shop in the country, a quick check with my postcode (Bristol) indicated about 20 shops in the area....
Edited by anonymous-user on Monday 23 November 12:59
king voucher 
I bought one about 11 months ago on our corporate cycle scheme.
I found a great bike shop in Bradford on Avon and bought it via them.
You need to get a quote for the bike and accessories first. then fill the form and then take teh voucher back to the shop for your goods.
Be careful though, at the end of the term (normally 12 months)the bike still technically belongs to your corporate employer. They can and will legally ask you to make a final payment for the bike to become yours. This can be anything from £1 to 10% of te bikes value depending on your employer.
I will let you know how much my employer charges me shortly.
I found a great bike shop in Bradford on Avon and bought it via them.
You need to get a quote for the bike and accessories first. then fill the form and then take teh voucher back to the shop for your goods.
Be careful though, at the end of the term (normally 12 months)the bike still technically belongs to your corporate employer. They can and will legally ask you to make a final payment for the bike to become yours. This can be anything from £1 to 10% of te bikes value depending on your employer.
I will let you know how much my employer charges me shortly.
Ray Singh said:
I bought one about 11 months ago on our corporate cycle scheme.
I found a great bike shop in Bradford on Avon and bought it via them.
You need to get a quote for the bike and accessories first. then fill the form and then take teh voucher back to the shop for your goods.
Be careful though, at the end of the term (normally 12 months)the bike still technically belongs to your corporate employer. They can and will legally ask you to make a final payment for the bike to become yours. This can be anything from £1 to 10% of te bikes value depending on your employer.
I will let you know how much my employer charges me shortly.
I didn't realise Ray that you were local. I agree they are a very good bike shop. I bought my Saris Bones rack from them a few weeks ago.I found a great bike shop in Bradford on Avon and bought it via them.
You need to get a quote for the bike and accessories first. then fill the form and then take teh voucher back to the shop for your goods.
Be careful though, at the end of the term (normally 12 months)the bike still technically belongs to your corporate employer. They can and will legally ask you to make a final payment for the bike to become yours. This can be anything from £1 to 10% of te bikes value depending on your employer.
I will let you know how much my employer charges me shortly.
Edited by CatherineJ on Tuesday 24th November 12:54
Mekon said:
In my second week of waiting for a voucher here, so I rang cyclescheme. Turns out it's not them holding it up - my company hasn't paid the invoice, and they won't send it 'til they cough up.
mmmm not sure who to ring myself, evans do our scheme, do you think its their head office?If you work for a smaller employer the best choice is to 'self administer' the scheme. Independent shops have their own paperwork for you to adapt. The cycle scheme vouchers cost the shop 10% to redeem so they would rather give you a minimum 10% discount. You can then buy from your local independent rather than the large multiple. Even my wife's employer - a smaller district council - has worked this out. And it supports the shops in the market towns where we live.
The only rider to this, I notice that at present Evans have a 10% off voucher offer, to use to buy accessories. So you get your 10% back anyway.
You haven't said if your employer already has a scheme. If they haven't its worthwhile. It costs them nothing as they get back the employers NIC. The only problem being that they need to buy the bike up front - so if cashflow is a problem at the minute it may be a bad idea. But if cashflow is good the business can make a better return than having cash on deposit (at 0.1% at present).
The only rider to this, I notice that at present Evans have a 10% off voucher offer, to use to buy accessories. So you get your 10% back anyway.
You haven't said if your employer already has a scheme. If they haven't its worthwhile. It costs them nothing as they get back the employers NIC. The only problem being that they need to buy the bike up front - so if cashflow is a problem at the minute it may be a bad idea. But if cashflow is good the business can make a better return than having cash on deposit (at 0.1% at present).
Hi
I've just ordered my bike today throught the cycle to work scheme. I work for the civil service they deal with Halfords. From me completing and sending of the hire agreement in the post I received the voucher in a week. It was really easy, I did it on the portal (which is our local intranet for the civil service), you select the value of the voucher you want, go to checkout and press submit. It then prints out the hire agreement which my manager countersigned, i then sent it off to my HR department. I went for a £900 voucher, so effectively I will not be paying any tax. The amount is taken out of my monthly salary before tax and national ins. The amount I will be paying off each month will be £34. At the end of the hire agreement I have to pay a one off payment of £40, which is 5% market value of the bike. I think I will be saving about £250 off the £900 loan. I've been really impressed how quickly the voucher came.
I've just ordered my bike today throught the cycle to work scheme. I work for the civil service they deal with Halfords. From me completing and sending of the hire agreement in the post I received the voucher in a week. It was really easy, I did it on the portal (which is our local intranet for the civil service), you select the value of the voucher you want, go to checkout and press submit. It then prints out the hire agreement which my manager countersigned, i then sent it off to my HR department. I went for a £900 voucher, so effectively I will not be paying any tax. The amount is taken out of my monthly salary before tax and national ins. The amount I will be paying off each month will be £34. At the end of the hire agreement I have to pay a one off payment of £40, which is 5% market value of the bike. I think I will be saving about £250 off the £900 loan. I've been really impressed how quickly the voucher came.
CatherineJ said:
Ray Singh said:
I bought one about 11 months ago on our corporate cycle scheme.
I found a great bike shop in Bradford on Avon and bought it via them.
You need to get a quote for the bike and accessories first. then fill the form and then take teh voucher back to the shop for your goods.
Be careful though, at the end of the term (normally 12 months)the bike still technically belongs to your corporate employer. They can and will legally ask you to make a final payment for the bike to become yours. This can be anything from £1 to 10% of te bikes value depending on your employer.
I will let you know how much my employer charges me shortly.
I didn't realise Ray that you were local. I agree they are a very good bike shop. I bought my Saris Bones rack from them a few weeks ago.I found a great bike shop in Bradford on Avon and bought it via them.
You need to get a quote for the bike and accessories first. then fill the form and then take teh voucher back to the shop for your goods.
Be careful though, at the end of the term (normally 12 months)the bike still technically belongs to your corporate employer. They can and will legally ask you to make a final payment for the bike to become yours. This can be anything from £1 to 10% of te bikes value depending on your employer.
I will let you know how much my employer charges me shortly.
Edited by CatherineJ on Tuesday 24th November 12:54
Hired some bike to go along the Kennett and Avon a few summers ago and really liked this bike shop and the staff.
IL_JDM said:
If you're mates with your boss...
Get them to buy the bike and accessories through company card.
They claim back VAT on bike and accessories (but not helmet), so you owe them 85% of the total.
Then they split the total owed into 12
Deduct this before you pay tax and national insurance.
A £1000 bike/gear costs me about £50 a month after tax, which I save in not using the car / going to the gym alone
Get them to buy the bike and accessories through company card.
They claim back VAT on bike and accessories (but not helmet), so you owe them 85% of the total.
Then they split the total owed into 12
Deduct this before you pay tax and national insurance.
A £1000 bike/gear costs me about £50 a month after tax, which I save in not using the car / going to the gym alone
This is what I did, seemed a lot easier than messing about with vouchers and renting a bike for a year.
Hey all,
got the bike now, just wondering how the payments work..
In my payslip it says there is a -72 for the scheme in the section where they list my bonus for each month. how much of that £72 (because 72x12 = 864) Hardly the great saving I signed up for..
Anyone help me? I am a bit thick when it comes to tax etc..
got the bike now, just wondering how the payments work..
In my payslip it says there is a -72 for the scheme in the section where they list my bonus for each month. how much of that £72 (because 72x12 = 864) Hardly the great saving I signed up for..
Anyone help me? I am a bit thick when it comes to tax etc..
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