Cyclescheme

Stevie-eff

Has anybody that has bought a bike via cyclesheme actually come to the end of the 3 year extended hire agreement yet?

If so, what happened? Did they sting you for any more cash or did just keep your deposit as they indicate?

Do you have to prove you still have the bike before they sign it over to you?

Has anyone done the really bad thing and sold their bike during the 3 year extended hire period.

I had a moment of madness and got a road bike via the scheme, i never use it. I have reached then end of year 1 and have the choice of buying the bike (approx £200) and bypass any saving i have made by using the scheme), or hand the bike back to them (not an option)

Other option is take it on 3 year extended hire and then sell it to help towards buying a proper bike.

Anyone got experience of this system, any advice?

Thanks

The Rookie

No one will have got to the end of the three years yet as the revised HMRC guidelines are only about two years old.

Stevie-eff

Thanks for the reply, i didn't know that.

What do you reckon, would it be safe to sell the bike i the 3 year period or not?

The Rookie

I would imagine it would be, it was only a con to get around the attempt to enforce the law correctly, in a way by the way which I consider to be no more in compliance with the law.

Stevie-eff

Cheers mate

cessitfoivi

No one will have got to the end of the three years yet as the revised HMRC guidelines are only about two years old