Forum home Mountain biking forum MTB general

Cyclescheme

Stevie-effStevie-eff Posts: 36
edited August 2014 in MTB general
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

Posts

  • The RookieThe Rookie Posts: 27,802
    No one will have got to the end of the three years yet as the revised HMRC guidelines are only about two years old.
    Current steed - Whyte T129, 2013 frame, mongrel Revelations, Giant dropper, Stans S1 wheelset. 12, Magura Trail Sport brakes, 1x11. 12.8Kg
  • 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 RookieThe Rookie Posts: 27,802
    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.
    Current steed - Whyte T129, 2013 frame, mongrel Revelations, Giant dropper, Stans S1 wheelset. 12, Magura Trail Sport brakes, 1x11. 12.8Kg
  • Cheers mate
  • No one will have got to the end of the three years yet as the revised HMRC guidelines are only about two years oldplGFyZ
Sign In or Register to comment.