Cyclescheme & RRP

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  • doyler78
    doyler78 Posts: 1,951
    Escargot wrote:
    doyler78 wrote:
    I can only talk about my scheme however I don't have a receipt with my name and why should I as I didn't actually pay for anything? I went with a collection letter which I signed to say that I received the bike and the bike shop kept that and invoiced my employer. That's it.

    Good for all you on whatever schemes you are on if you have a receipt but I would interested to see what the value on the receipt is for as you didn't pay anything therefore how can there be any value on it and how do they then invoice the company and receipt them for the payment. I think it would very strange for a company to be issuing 2 receipts for payment for the one item.

    As for you bit about the owner's name on it. The owner is the employer not you when you start the scheme.

    All these schemes are a little confusing but I believe I should have a receipt with my name on it as I've entered into a hire purchase agreement (albeit with my employer). With the Ride2Work scheme my employer agrees to cover the cost of the voucher, which is then repaid over an 18 month period. The same would be the case if I went into Comet and purchased electrical goods using their finance facilities. I don't think it is an issue that I haven't paid for anything as I will do over the term of the agreement.

    For info I have my name on the receipt as the Evans voucher works just like a gift token. Sadly the scheme does not really help the LBS but from what I'm reading I'm beginning to think the Ride2Work scheme is the best one.

    Alfablue is quite right. You have entered into a hire agreement ie loaning the bike from your employer and not hire purchase agreement which means you would automatically own the bike at the end of the scheme. This is expressly not allowed under the scheme and hence the reason why you cannot have a receipt as the owner of the bike. If you have a receipt it is for something else but it isn't to confirm payment by you and as such confer on you the rights of a legal owner. It may of course be enough to fool the manufacturer if you presented it as a warranty claim however you have to be open to the possibility that they have the right to tell you to clear off.

    I think too many people seem to enter into these agreements without having any real understanding of the scheme or its implications. I myself am hiring a bike on the scheme at the minute and hope to own it in another 5 months so I'm not saying it is a bad scheme I just think anyone entering into any agreements really ought to know what it is that they are entering into. Clearly you don't - sorry if that sounds blunt but hey that's how it looks.

    Think again if you think that the best scheme is Evan's. I'm afraid not the best scheme is the one which doesn't use any facilitator at all or one which limits employees to a single or limited range of shops. The best scheme is the one which is set up internally by the organisation and which allows the employee to choose whichever shop suits them where on the high street or online. It doesn't set a limit on how much can be spent. Is always open (ie scheme doesn't close for large parts of the year). Is properly promoted and not operated in isolation ie a full set of measures which not only allows employees to buy bikes but encourages them to use them. I could go on but I'm sick of the sound of my own voice now :lol:
  • Escargot
    Escargot Posts: 361
    doyler78 wrote:
    Escargot wrote:
    Alfablue is quite right. You have entered into a hire agreement ie loaning the bike from your employer and not hire purchase agreement which means you would automatically own the bike at the end of the scheme. This is expressly not allowed under the scheme and hence the reason why you cannot have a receipt as the owner of the bike. If you have a receipt it is for something else but it isn't to confirm payment by you and as such confer on you the rights of a legal owner. It may of course be enough to fool the manufacturer if you presented it as a warranty claim however you have to be open to the possibility that they have the right to tell you to clear off.

    I think too many people seem to enter into these agreements without having any real understanding of the scheme or its implications. I myself am hiring a bike on the scheme at the minute and hope to own it in another 5 months so I'm not saying it is a bad scheme I just think anyone entering into any agreements really ought to know what it is that they are entering into. Clearly you don't - sorry if that sounds blunt but hey that's how it looks.

    Think again if you think that the best scheme is Evan's. I'm afraid not the best scheme is the one which doesn't use any facilitator at all or one which limits employees to a single or limited range of shops. The best scheme is the one which is set up internally by the organisation and which allows the employee to choose whichever shop suits them where on the high street or online. It doesn't set a limit on how much can be spent. Is always open (ie scheme doesn't close for large parts of the year). Is properly promoted and not operated in isolation ie a full set of measures which not only allows employees to buy bikes but encourages them to use them. I could go on but I'm sick of the sound of my own voice now :lol:

    I'm quite in agreement that alfablue is correct but I have indeed got a receipt that clearly has my name/address at the top along with a detailed breakdown of the bike/accessories that I collected. Ultimately I think you'd have to be pretty unfortunate if a manufacturer did not honour a warranty claim because of a technicality, in which case you'd have to approach HR to chase up your case on your behalf.

    I'm under no illusions that the bike is mine until I've made my final payment to terminate the agreement and as discussed in an earlier post this is not really that different to any normal hire purchase agreement in that you don't really own anything until you've made the final payment. The scheme itself is ultimately a very odd thing as you are free to buy a £2k bike if you are prepared to pay the additional over the £1k limit. In this case I've no doubt the bike is still not yours but the terms state that any additional costs incurred are not covered by the scheme. In this case it seems a grey area.

    To be honest for 90% of the people that undertake such a scheme Evans is perfectly adequate as they have a very wide range of bikes to choose from and most amatuer riders will balk at a bike costing over £500. Maybe for the enthusiast they are limited but you cannot argue that them enabling you to buy a bike at the sale price without an additional 10% is a good deal.

    At the end of the day they are all good schemes to some extent as any saving over 30% is great. I guess it just boils down to what your employer is prepared to do to provide a company benefit (I think my HR is lazy, hence going for an easy option like Evans :wink: )

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