anoyone on their second bike on C2W?

andy83

when I pay my wages this month i will have paid off the full amount of the cycle to work voucher. I already have a quote from the lbs for a new bike but a little unsure of when my agreement actually finishes so i can submit the voucher request, do you get any info from cyclescheme?

I got told today its fine if I have another bike just they werent sure about how to go about it.

If I have paid off the full amount of the voucher surely this covers the amount for the bike and its mine then. I presumed usually the last payment is the fair market offer and you pay that.

Could I submit my voucher request now even though I dont get paid til the end of the month.

Thanks in advance

Bikequin

Consider yourself lucky - work have already told me that they won't be helping me purchase a CX bike this autumn.

davis

I'm on my 2nd.

You can apply for a voucher when you've finished paying for your current one, but basically only after you get your 12th payslip. I think I applied for mine the same week I got the 12th payslip, and it was initially rejected by Cyclescheme (they're the ones we use), but I gave a different email address, and emailed them asking if it was allowed. They replied saying it was fine, and the request was going through as normal.

gb155

Looks like the rules re final payment are set to change (ie go up) so get in asap mate

Mithras

Nope..Was looking forward to getting a new Fixed..Work have decided to stop C2W..

andy83

davis wrote:

I'm on my 2nd.

You can apply for a voucher when you've finished paying for your current one, but basically only after you get your 12th payslip. I think I applied for mine the same week I got the 12th payslip, and it was initially rejected by Cyclescheme (

they're the ones we use), but I gave a different email address, and emailed them asking if it was allowed. They replied saying it was fine, and the request was going through as normal.

cheers for that, thats exactly what I wanted to here. I think I may set up a new email address just to prevent any delays. Im going to submit my order the day I get paid . I did notice when I logged in that it showed the process of my last voucher so maybe the computer sees as once one is done thats it on the system

Other people arent too happy at work as they forgot to take the money out last month so I asked HR if they could take out 2 payments this month so I will finish the scheme which they said they would do.

Looks like the rules re final payment are set to change (ie go up) so get in asap mate

hopefully ill be applying next week so shouldnt go up by then

Nope..Was looking forward to getting a new Fixed..Work have decided to stop C2W.. Sad

Thats what ive decided to add to my collection, never rode one apart from a little test ride, but just dont like all the stuff gone wrong on current bike so will use it for winter

hopefully getting this

http://www.trekbikes.com/uk/en/bikes/ur ... ddistrict/

t0pc4t

I am just waiting for my second voucher. My work said that they were happy for me to have another bike on the proviso that I bought the first one, which I would have done anyway.

So I am getting a 2010 Giant Anthem X4 as my work don't give a monkeys if I ride it to work or not and I have my cube for commuting on.

What's this about the buyback price going up though?

Rich158

I'm on my third and it's never been a problem, we use cycle 2 work. HR have always made the arrangements for me and it's never been a problem, mind you I have it pretty good I've never had to make a final payment either

andy83

Rich158 wrote:

I'm on my third and it's never been a problem, we use cycle 2 work. HR have always made the arrangements for me and it's never been a problem, mind you I have it pretty good I've never had to make a final payment either

I think thats going to be the case with me

HR really just ask my advice on how it works and when I said yesterday i'll have paid my final payment this month they said it will be fine to order a new one

cant wait, nothing to do with the fact that im also geting new speedplay pedals, shoes and wheels for current bike

gb155

It seems C2W is going the same way as the Home Computer Scheme, IE the Gov are now trying to kill it off, Its such a shame as C2W has been sighted as one of the reasons prices have gone up so much (Ie people have more to spend) Not sure if thats totally true but where I work its gone from 3 cyclists to around 20/30 and the majority credit the C2W scheme.

dugliss

I just received my letter with the amount of the final payment on it and it invited me to apply again to get a new bike. I`m on the Royal Mail/Halfords only scheme but the downside of that is there`s a limit of £500

great_badir

How does the final payment to own it work? I'm confused by in the C2W FAQs where it says at the end of the "hire" period, the employee has the option to "buy the bike at full market value". So does that mean you just end up paying the Real Rip-off Price in the end anyway?

Sailorchick

Just finished C2W for my Carrera Subway and have already got my next voucher. Picking up a Specialized Dolce on Friday, can't wait!

Have yet to be asked to pay a final purchase payment on the subway.

gtvlusso

Third for me - in fact I have 2 going at once for the next 6 months as one bike was nicked!

t0pc4t

I think by the letter of the contract with cyclescheme you are supposed to take it to a bike shop and get it valued with that being your buyback price however when I asked our work about this they said that they wouldn't bother and would depreciate it as a company asset which rounded out to about 7% of the original value of the bike and gear

So in the end I paid about £410 for £750 worth of stuff, which I was happy with

gb155

gtvlusso wrote:

Third for me - in fact I have 2 going at once for the next 6 months as one bike was nicked!

Ermmm how does that work ? Eying up a new Ribble now

dugliss

My final payment is £35 on a bike that cost £450 18 months ago and I also got 15% for extras

rf6

I pay off my 2nd this month. Was looking at a carbon Zaskar on paulscycles, but they charge an extra 10% on sales bikes, and that with the extra over the grand I'd need to pay makes it a bit steep.

Cafewanda

My C2W runs October to September, so I'll have to wait a while longer to find out if my company will run it again or not. Contacted HR today and they've not heard anything as yet.

Fingers crossed it continues as I really really want my road bike

andy83

had it confirmed today my current scheme will be over this payday, no mention of having to pay final payment just voucher total

is it wrong im more excited bout new pedals and wheels than the actual new bike im getting?

RufusA

gb155 wrote:

gtvlusso wrote:

Third for me - in fact I have 2 going at once for the next 6 months!

Ermmm how does that work?

Easily, provided payroll can handle it. The DFT even mention the possibility in section 3 of their advice document, suggesting one bike for each end of a train journey:

http://www.dft.gov.uk/pgr/sustainable/c ... df/518054/

BUT you will still be limited by the need for a consumer credit license. So you may be limited to £1000 for "BOTH" bikes, unless you can get the original bike revalued aggressively down to a token value before you wish to start the new agreement ;-)

Rufus.

gtvlusso

RufusA wrote:

gb155 wrote:

gtvlusso wrote:

Third for me - in fact I have 2 going at once for the next 6 months!

Ermmm how does that work?

Easily, provided payroll can handle it. The DFT even mention the possibility in section 3 of their advice document, suggesting one bike for each end of a train journey:

http://www.dft.gov.uk/pgr/sustainable/c ... df/518054/

BUT you will still be limited by the need for a consumer credit license. So you may be limited to £1000 for "BOTH" bikes, unless you can get the original bike revalued aggressively down to a token value before you wish to start the new agreement ;-)

Rufus.

My company allow people to have multiple agreements running concurrently - ultimately you could take 3 seperate £1k loans...I think! Anyway, I have 2 running for the next 6 months until my old one runs out. They are a Halfords private arrangement....so, I am not sure on the intricacies.

davmaggs

I suspect some of the 'rules' come down to how your firm wants to interpret them. My old company tried to withdraw my second C2W agreement, but the bike had already arrived and they were forced to let me keep it. They'd decided that there should be a six month gap so that the Revenue didn't start getting uppity.

A lot ot it comes down to the willingness of firms to do the paperwork, rather than to a defined set of rules. Also I suspect that if people keep ordering highend bikes with a good resale value after year one, then HR get nervous of HMRC.

RufusA

gtvlusso wrote:

My company allow people to have multiple agreements running concurrently - ultimately you could take 3 seperate £1k loans...I think!

Not entirely sure it would be covered by the OFT group consumer credit license, but what do I know! Pretty sure no-one would check though!

Rufus

gb155

gtvlusso wrote:

RufusA wrote:

gb155 wrote:

gtvlusso wrote:

Third for me - in fact I have 2 going at once for the next 6 months!

Ermmm how does that work?

Easily, provided payroll can handle it. The DFT even mention the possibility in section 3 of their advice document, suggesting one bike for each end of a train journey:

http://www.dft.gov.uk/pgr/sustainable/c ... df/518054/

BUT you will still be limited by the need for a consumer credit license. So you may be limited to £1000 for "BOTH" bikes, unless you can get the original bike revalued aggressively down to a token value before you wish to start the new agreement ;-)

Rufus.

Ahhh Right, Thanks for that.
My company allow people to have multiple agreements running concurrently - ultimately you could take 3 seperate £1k loans...I think! Anyway, I have 2 running for the next 6 months until my old one runs out. They are a Halfords private arrangement....so, I am not sure on the intricacies.