Cycle to work - Extended Hire Period

andrewlwood

whitestar1 wrote:

I agree with you andrewlwood they treated you unfairly. Did you have the initial agreement in writing? If so, wouldn't that hold up in court? If the company was treated in that way they would be suing left right and centre!

Well - two things; the first is that the agreement was a standard 'fair market value', which was interpreted by them (with guidance from the company) as '19th payment'. The other is that I worked with them for 14 years; they treated me well; and this was an honest mistake, not a deliberate attempt to deceive.

Their comeuppance is that they now own a (Cannondale) bike that they almost certainly have no use for and don't know what to do with. I'm not going to mither; it's just that the scheme as sold to quite a few people (not just from my employer) is not as attractive as interpreted initially. I'm sure my employer wouldn't have assumed anything - I think some of the scheme operators probably didn't count on the govt policing the scheme quite as diligently...

No quibbles really, I used it as an excuse to buy a new Trek 2.3!

whitestar1

Does that mean the scheme is still active? Thats how you got the new bike?

andrewlwood

whitestar1 wrote:

Does that mean the scheme is still active? Thats how you got the new bike?

The scheme is still active - but to be honest, to cut through complexity, a potential two-month wait to get forms signed and bikes delivered etc, I just bought a new bike from a shop - they gave me a deal, plus a discount on accessories, and 12 months interest free credit. It will work out pretty much the same as getting a new CTW bike and buying it at the end of the 18 month period, and much less dicking about... And I was able to spend more than an arbitrary £1000 on the bike I wanted, AND I could try it before I bought it.