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Cycle scheme but I want to leave.

DonDaddyDDonDaddyD Posts: 12,689
edited March 2009 in Commuting chat
My employer has finally informed me that they will have another cycle scheme this year with a proposed voucher date of June.

However, I want to leave.... (yes I know not the best time but public sector is fairly secure in these recessed times).

I could go ahead with the scheme anyway and suffer the blow when/if I leave...

What to do...

Edit: Oh great, I've just found out that they are going with another scheme provider....:roll: All that research down the drain this better not affect my chances of getting a Kuota
Food Chain number = 4

A true scalp is not only overtaking someone but leaving them stopped at a set of lights. As you, who have clearly beaten the lights, pummels nothing but the open air ahead. ~ 'DondaddyD'. Player of the Unspoken Game

Posts

  • girv73girv73 Posts: 842
    Check out the leaving conditions on your current scheme. You'll likely have to pay off the balance owing when you leave in one payment.

    Or hold fire and check out if your new employers have a cycle scheme in place and when it runs.
    Today is a good day to ride
  • gtvlussogtvlusso Posts: 5,112
    Sorry DDD, maybe I have mis-understood.

    You want to leave your current job and go into Public Sector, but want to do cyclescheme with your current employer?
  • Eat My DustEat My Dust Posts: 3,965
    I'd just take the bike and not say anything. Will anybody even notice?
  • DonDaddyDDonDaddyD Posts: 12,689
    gtvlusso wrote:
    Sorry DDD, maybe I have mis-understood.

    You want to leave your current job and go into Public Sector, but want to do cyclescheme with your current employer?

    I'm mostly just speaking what's on my mind in this thread.

    I work in the public sector now. If I found new employment elsewhere, loathe as I am to do so I probably would stay within the public sector because of the current economic climate.

    My current employer did cycle scheme, I think they'll do cycle to work this time around.
    Food Chain number = 4

    A true scalp is not only overtaking someone but leaving them stopped at a set of lights. As you, who have clearly beaten the lights, pummels nothing but the open air ahead. ~ 'DondaddyD'. Player of the Unspoken Game
  • gtvlussogtvlusso Posts: 5,112
    Hmmm - it is a tricky one, damned if you do and damned if you don't!

    I would do it anyway, live with the consequence - Ultimately, you may get away with it, not really considered as an asset to a company as it is only a bloody bicycle!

    Stonehenge cycles are doing 0% finance over 2 years......could go down that route, but you won't get the discount that C2W offers....

    Do it anyway, I am gonna do it everytime it is announced - get a fresh bike every years to wreck.
  • DonDaddyDDonDaddyD Posts: 12,689
    Yeah I'm going to do it, plus I don't know when I could get another job. 0% finance isn't an option for me right now, GF doesn't want me harming the credit rating for a while.... :shock:

    So I now have the pain of the waiting game, I've been told that they are going with another company not cyclescheme and they won't tell me which one (I'm tempted to storm the HR office and say "tell me tell me tell me tell me tell me tell me tell me tell me tell tell me tell me!"). It's just my luck that after the long nights of researching bikes and settling on a Kuota Kharma the bike shop I wanted it from only does cyclescheme (I could continue to save but I want my bike now).

    I just hope the voucher still goes up to £1000 and doesn't have stupid rules.
    Food Chain number = 4

    A true scalp is not only overtaking someone but leaving them stopped at a set of lights. As you, who have clearly beaten the lights, pummels nothing but the open air ahead. ~ 'DondaddyD'. Player of the Unspoken Game
  • gtvlussogtvlusso Posts: 5,112
    They have just done another round at my place (unfortunatly I am still on my current C2W contract - can't have 2 at once!).

    £1000 is still available - some shops and distributers are refusing to work with Halfords C2W though....makes bike choosing a pain in the bum.

    As for finance - debt is the way forward, I have lost the will to care about it!!
  • DonDaddyDDonDaddyD Posts: 12,689
    gtvlusso wrote:
    They have just done another round at my place (unfortunatly I am still on my current C2W contract - can't have 2 at once!).

    £1000 is still available - some shops and distributers are refusing to work with Halfords C2W though....makes bike choosing a pain in the bum.

    As long as I can get a Kuota its all good, but I fear its going to take some creative thinking... urgh.
    As for finance - debt is the way forward, I have lost the will to care about it!!

    I can't remember a time in my life since I had a part time job (16) when I didn't owe someone some money... The more money I earn the more I seem to owe, despite not taking out any additional credit cards, loans and the what not...
    Food Chain number = 4

    A true scalp is not only overtaking someone but leaving them stopped at a set of lights. As you, who have clearly beaten the lights, pummels nothing but the open air ahead. ~ 'DondaddyD'. Player of the Unspoken Game
  • gtvlussogtvlusso Posts: 5,112
    DonDaddyD wrote:
    gtvlusso wrote:
    They have just done another round at my place (unfortunatly I am still on my current C2W contract - can't have 2 at once!).

    £1000 is still available - some shops and distributers are refusing to work with Halfords C2W though....makes bike choosing a pain in the bum.

    As long as I can get a Kuota its all good, but I fear its going to take some creative thinking... urgh.
    As for finance - debt is the way forward, I have lost the will to care about it!!

    I can't remember a time in my life since I had a part time job (16) when I didn't owe someone some money... The more money I earn the more I seem to owe, despite not taking out any additional credit cards, loans and the what not...

    Have we become so materialistic......my oh my. I don't even have a nice car......have a couple of nice bikes though! Last gas bill was £500.....doh!
  • biondinobiondino Posts: 5,990
    My understanding is that using credit responsibly actually improves your credit rating? Or is this a myth spread by loan sharks? Either way, I can't see how a 0% finance deal can hurt your rating unless you don't make payments.
  • DonDaddyDDonDaddyD Posts: 12,689
    gtvlusso wrote:
    Have we become so materialistic......my oh my. I don't even have a nice car......have a couple of nice bikes though! Last gas bill was £500.....doh!

    My last gas bill, caused me to enforce the 'jumper rule' in my house.

    I used to make it my business about materialism, I hated it desperately trying to find value in other things and I believe its made me a well grounded person who understands the value of things.

    But by golly, I work so hard and put up with so much rubbish why can't I spend my money on nice things and indulge once in a while? As long as that indulgence doesn't get to a point where I can't pay for the essentials because I bought an expensive pair of jeans that month.... - not something I'd do ever - its ok right?
    Food Chain number = 4

    A true scalp is not only overtaking someone but leaving them stopped at a set of lights. As you, who have clearly beaten the lights, pummels nothing but the open air ahead. ~ 'DondaddyD'. Player of the Unspoken Game
  • bigmatbigmat Posts: 5,111
    Where are you getting a Kuota for a grand?! Sounds like a great deal.

    If you end up on the Halfords scheme, the Boardman and Viner Gladius are both decent options at that price point.
  • DonDaddyDDonDaddyD Posts: 12,689
    biondino wrote:
    My understanding is that using credit responsibly actually improves your credit rating?
    Your credit rating has to be bad for that to work. I've been there, why would a bank give a £1000 credit card to a 18yr old college student working 4hrs in McDonalds earning aroud £4 per hr... Oh I remember those days... thanks Dad for forcing me to work there.
    Either way, I can't see how a 0% finance deal can hurt your rating unless you don't make payments.

    My girlfriend simply doesn't want me taking up any credit deal whatsoever, regardless of my ability to pay for it. I don't try to understand female logic, I just answer with "yes dear".
    Food Chain number = 4

    A true scalp is not only overtaking someone but leaving them stopped at a set of lights. As you, who have clearly beaten the lights, pummels nothing but the open air ahead. ~ 'DondaddyD'. Player of the Unspoken Game
  • DonDaddyDDonDaddyD Posts: 12,689
    MatHammond wrote:
    Where are you getting a Kuota for a grand?! Sounds like a great deal.

    If you end up on the Halfords scheme, the Boardman and Viner Gladius are both decent options at that price point.

    The Kuota would be £1500 - £1750 depending on groupset. I'd pay the difference.
    Food Chain number = 4

    A true scalp is not only overtaking someone but leaving them stopped at a set of lights. As you, who have clearly beaten the lights, pummels nothing but the open air ahead. ~ 'DondaddyD'. Player of the Unspoken Game
  • biondinobiondino Posts: 5,990
    DDD's girlfriend, yesterday:

    ps.jpg
  • AguilaAguila Posts: 622
    I left half way through my cyclescheme deal. I just paid the difference in a final sum.

    Crucially this amount was also deducted from my pre-tax pay so I still saved the same amount as if I had gone the whole 12 months. So the only thing you stand to lose is the effective interest free credit period.

    I told my employers at the time that I might leave half way and they weren't botherred. Dont think it makes any odds to them.
  • condormancondorman Posts: 811
    If you're think of staying in the public sector don't expect a cyclescheme at HMRC - it's too expensive to administer! :evil:
    Condor Pista
    50x16
  • fossyantfossyant Posts: 2,549
    If you leave you'll have to settle up- you only get the 'benefit' for the time you are 'employed with them...... If you are thinking of going, don't get a bike through the scheme - you will get stung......

    PS I am an ACCOUNTANT.... so don't..... not worth the mess..... and you'll have to pay the balance...
  • AguilaAguila Posts: 622
    fossyant wrote:
    If you leave you'll have to settle up- you only get the 'benefit' for the time you are 'employed with them...... If you are thinking of going, don't get a bike through the scheme - you will get stung......

    PS I am an ACCOUNTANT.... so don't..... not worth the mess..... and you'll have to pay the balance...

    This is not correct.

    See my post a few above. I saved exactly the same amount despite "settling up early".

    You will pay the full balance but it will be deducted from your salary PRE-TAX so the saving is the same.
  • simon_esimon_e Posts: 1,677
    DDD you have a perfectly good bike already.

    I'm beginning to wonder whether you like window shopping more than cycling. Perhaps we should ask the mods for a separate Shopping forum ;-)
    Aspire not to have more, but to be more.
  • DonDaddyDDonDaddyD Posts: 12,689
    I want to take the plunge in several areas I just go through a lengthy musing stage before diving in...
    Food Chain number = 4

    A true scalp is not only overtaking someone but leaving them stopped at a set of lights. As you, who have clearly beaten the lights, pummels nothing but the open air ahead. ~ 'DondaddyD'. Player of the Unspoken Game
  • rally200rally200 Posts: 646
    DDD what part of the public sector are you going to? I work for HMRC and you'll like this - the best they can offer is a £350 interst free loan to buy a bike :shock:
  • The terms of our scheme mean if you leave, the balance is deducted from net pay, ie you lose the tax benefit. I think this is down to the employers discretion though. More info here

    http://www.dft.gov.uk/pgr/sustainable/c ... mentat5732

    Also worth noting that through our scheme (halfords) we were not allowed to top up the voucher, although you may be able to get around this by doing a custom build rather than buying a complete bike.
    Halfords were able to source pretty much any bike, the only exception I came across were focus bikes as they don't deal with wiggle. If they order a bike that they don't routinely stock, you will pay full rrp for it though, so it might not be worth doing if your thinking of leaving sooner rather than later.
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