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cycle to work scheme- great idea.
datherfold
Posts: 1 Newbie
in Motoring
I needed a new bike anyway and I found a hybrid bike with lots of extras in a sale. The scheme basically saved me a third off the sale price and now I cycle to work I am saving a small fortune in petrol. My fitness improved almost overnight to the point that I don't have to worry about finding the time to go running or to the gym as I would have done before. Great scheme, can't recommend it enough. The bike was a Canondale, originally £700 and then in the sale for £550 so it cost me just over £300 after taking off the tax.
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Comments
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datherfold wrote: »I needed a new bike anyway and I found a hybrid bike with lots of extras in a sale. The scheme basically saved me a third off the sale price and now I cycle to work I am saving a small fortune in petrol. My fitness improved almost overnight to the point that I don't have to worry about finding the time to go running or to the gym as I would have done before. Great scheme, can't recommend it enough. The bike was a Canondale, originally £700 and then in the sale for £550 so it cost me just over £300 after taking off the tax.
afaik its a bit of a con as you are only leasing the bike, and after loan period you either have to give the bike back or buy it at a reduced price.EX POSTIE.0 -
It's not a con as you usually buy the bike for 5% of the original value.It's my problem, it's my problem
If I feel the need to hide
And it's my problem if I have no friends
And feel I want to die0 -
afaik its a bit of a con as you are only leasing the bike, and after loan period you either have to give the bike back or buy it at a reduced price.
Not at all, it's made perfectly clear at the begining of the contract. The reduced price of my £970 bike was £35!!! Great scheme!0 -
in our scheme you can either buy the bike at fair market value at the end of 12 months (about 5% of the purchase price +vat - this is tax market value rather than what you could sell it 2nd hand for) or pay the same amount to have the company keep it.
a no brainer really for a 40% discount0
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