Cycle to Work Scheme

mitchgixer6
mitchgixer6 Posts: 729
edited March 2013 in Road buying advice
Hi all

Just found out today that my employers have signed up for the C2W Scheme after waiting 10 years for them to do so!

They have sited the usual 'you must buy a bike through Halfords/local shop' etc, but I know enough to know that you can spend your voucher at any retailer that has been approved for the scheme.

My question is where is best to look for a TT bike to buy through the scheme? As I say I've been waiting that long I already have a good summer bike and a winter bike that I'm happy with, as well as a MTB that doesn't see much use anymore, so the only other bike I'd consider buying would be a TT bike. I would be willing to put a bit towards the £1000 limit to get something decent, especially as I have a set of race wheels already so could sell any wheels that were to come with a bike.

Cheers guys.

Comments

  • pkripper
    pkripper Posts: 652
    where are you based? There are some shops that accept halford vouchers that are more flexible with allowing top-ups etc, but technically they're not supposed to and can lose their status to work within the scheme if they do so.
  • mitchgixer6
    mitchgixer6 Posts: 729
    Oh right, I wasn't aware of that. I thought that top ups were Ok under the scheme.

    I'm in the west of Scotland, there are a few good lbs's round my way that might oblige!
  • mitchgixer6
    mitchgixer6 Posts: 729
    Another question if you don't mind. How do the majority of employers settle the account once the payments end? Do many ask for the bike back? Do they ask for a final payment to 'buy' the bike from them?

    A second plan for me might be to buy a bike purely for the frame and swap groupsets over with my current good bike and then sell that on. So essentially I would be selling the group that comes on the cycle scheme bike. Just thinking that might not work out too well if my employer asks for the bike back at the end of the term!
  • andy9964
    andy9964 Posts: 930
    You'll need to confirm with whoever runs the scheme, as employers seem to differ.

    Mine for example, charges 5% of purchase price as a final 'rental' to cover the next three years. As it is all a tax free thing I think they have to charge a token amount until the bike is deemed to be worth £0, at four years old.

    I am, however, free to do what I want with the bike after the first 12 months
  • okeydokey79
    okeydokey79 Posts: 89
    as Andy says depends on who is running the scheme, our c2w is with halfords but i brought my new bike from another shop, but you have to pay the full rrp, where as if you buy from halfords you can get the sale prices. some places will allow top ups, our scheme is final payment of 18% of value up to £500 if you have up to £1000 the final payment is 25%, not much of a saving but we are allowed to defer the final payment for another year and only pay £50 at the end of the 2nd year. so making a saving that way.

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