Planet X vs. Ribble vs. Boardman

rvc_ld

Hi Guys,

Im looking for other people's opinion on a sub £1000 carbon bike with the cycle to work scheme.
I know that in cheaper carbon bikes some of the benefits of the frame material are lost, but would appreciate any comments nonetheless.

At the moment I have narrowed it down to:

Ribble R872 (Tiagra)
http://www.ribblecycles.co.uk/sed/road- ... =conf_SERC

Planet X Pro Carbon (Apex)
http://www.planet-x-bikes.co.uk/i/q/CBP ... _road_bike

Boardman Team Carbon (Tiagra)
http://www.halfords.com/webapp/wcs/stor ... yId_165710

Thanks,
RVC_LD

rvc_ld

The boardman currently has a special web exclusive offer with a reduction of £100 too
... Tempting

mpatts

Firstly, it is worth checking out if your company stick to the HMRC rules around the 1 year value of bike (IIRC it's 25%).

However, you will find that PX pass on the cost of administering the scheme - which IIRC is 10%. My guess is Ribble would too (although I don't know) - but Halfords won't.

If I were you I'd avail Planet X of their 0% interest option. It would work out cheaper than the cycle to work scheme.

(PS, I have a PX Carbon SL pro, and love it)

Bar Shaker

mpatts wrote:

Firstly, it is worth checking out if your company stick to the HMRC rules around the 1 year value of bike (IIRC it's 25%).

However, you will find that PX pass on the cost of administering the scheme - which IIRC is 10%. My guess is Ribble would too (although I don't know) - but Halfords won't.

If I were you I'd avail Planet X of their 0% interest option. It would work out cheaper than the cycle to work scheme.

(PS, I have a PX Carbon SL pro, and love it)

Do any companies actually do this? A company may also make a gift to an employee of up to £250 tax free, as a reward. We do this with HMRC approval. If a company enforces the residual value thing then just request it as a gift.

If you pay 25% tax the scheme is worth it. If you pay 40% tax it is a no brainer.

You can use the Halfords 10% off and your British Cycling 10%, on the Boardman. I would be torn between the Boardman and the PX (I think the Boardman frame but I prefer Apex to Tiagra) but the Boardman should work out cheaper if you are smart.

sloppyschleckonds

I'd go with the Planet X & Rival (not Apex) , not sure why the Boardmans dropped SRAM

neal1984

rvc_ld wrote:

The boardman currently has a special web exclusive offer with a reduction of £100 too
... Tempting

Join British Cycling for an additional 10% off. So you should get this for £810. At this price I think my credit card is taking a beating tonight.

diamonddog

Have Pro Carbon with Sram Rival nice bike to ride and good vfm.

jotko

Dunno if you can use wiggle but for an extra £82....

http://www.wiggle.co.uk/cinelli-saetta- ... loce-2012/

passout

Ribble for me. 2nd would be Boardman.
Planet X do some decent frames but isn't that one of the older ones...?

sloppyschleckonds

madasahattersley wrote:

I would urge you to go with none of the above and instead buy a 2nd hand cervelo/giant/ANYTHING a fit a good solid 10 speed groupset with some good solid wheels

Can you do that on the Cycle To Work scheme?

Bar Shaker

SloppySchleckonds wrote:

I'd go with the Planet X & Rival (not Apex) , not sure why the Boardmans dropped SRAM

Agreed if it's Rivals.

Boardman Team bikes are still good value but aren't the 'no brainer' fully loaded bargains they used to be when the company was trying to get established.

kitenski

mpatts wrote:

If I were you I'd avail Planet X of their 0% interest option. It would work out cheaper than the cycle to work scheme.

How can 0% interest be cheaper than the c2w scheme, especially if your a higher rate tax payer???

mpatts

kitenski wrote:

mpatts wrote:

If I were you I'd avail Planet X of their 0% interest option. It would work out cheaper than the cycle to work scheme.

How can 0% interest be cheaper than the c2w scheme, especially if your a higher rate tax payer???

Because you have to pay 25% of the price of the bike at the end of the term.

passout

mpatts wrote:

kitenski wrote:

mpatts wrote:

If I were you I'd avail Planet X of their 0% interest option. It would work out cheaper than the cycle to work scheme.

How can 0% interest be cheaper than the c2w scheme, especially if your a higher rate tax payer???

Because you have to pay 25% of the price of the bike at the end of the term.

But the term can be extended to 4 years - so you pay the market value at that later date, even though monthly payments are made after a year. Or at least, thats how I remember it. I extended my cyclescheme agreeement; it is a bit cheaper.

kitenski

mpatts wrote:

kitenski wrote:

mpatts wrote:

If I were you I'd avail Planet X of their 0% interest option. It would work out cheaper than the cycle to work scheme.

How can 0% interest be cheaper than the c2w scheme, especially if your a higher rate tax payer???

Because you have to pay 25% of the price of the bike at the end of the term.

Serious questions this, as I am looking into a cycle scheme for a carbon bike. I don't see where your 25% come from?

So, £1000 bike, interest free costs £1000

Quick calc from cycle scheme website

Total cost of bike and accessories: £1000
Net cost of bike and accessories, including finance and admin costs (if applicable): £1000
Income tax saving over hire period: £200
Employee NI saving hire period: £120
Final cost of bike & accessories: £680
Total saving: £320

Then on higher rate tax

Total cost of bike and accessories: £1000
Net cost of bike and accessories, including finance and admin costs (if applicable): £1000
Income tax saving over hire period: £400
Employee NI saving hire period: £20
Final cost of bike & accessories: £580
Total saving: £420

the same website says: http://www.cyclescheme.co.uk/employers/employer-faqs

What happens at the end of the hire period?

In order to preserve the tax benefits of the scheme, there can be no guarantee or obligation to transfer ownership to the employee immediately after the hire period has ended. However, employers generally choose to offer this option in addition to others, either directly or via Cyclescheme.

At the end of the hire period, Cyclescheme will contact employees to discuss the options available.

The most attractive option for employees will be to pay a small, refundable deposit (3% or 7% of the equipment value*) and continue to use the bicycle or safety equipment for an extended period of up to 36 months.

At the end of this period, if the employee does not wish to keep the bicycle or safety equipment, then Cyclescheme will refund the deposit in full. Alternatively, Cyclescheme may at its discretion, offer ownership of the bicycle or safety equipment to the employee at this point, and no further action or payment will be required if they wish to keep the bicycle or safety equipment.

For more information, please refer to the article 'HMRC Market Value Clarification' in our 'Employer Updates' section, or click here to watch our website video guide to our simple end of hire process.

* the lower figure is for an equipment value of less than £500 and the higher one for equipment value of £500 or more. These figures include VAT.

mpatts

That's why I said it's best to check what your company/what scheme does, as it can mean it's not worth it. If you can pay 3%, then obviously it is!