How Much For 6 month Old Focus Cayo 105

merlinghnd · July 2009

Hello Everyone,

I have bought a Focus Cayo 2009 105 which is XXXL / 62 size frame on a C2W. The bike is about 6 months old (not exactly sure, looking for the receipt)

It is a great bike and I am really pleased with it.

I started a C2W scheme which is now coming to a close. I have had the idea of starting another scheme and getting another Cayo. I would then put the money from the sale to upgrading the wheels and buying a few bits and pieces. The new wheels on the Cayo would then go on a hybrid bike for commuting in rain/winter.

The question is how much for my 6 month old Focus Cayo with pedals, Michelin Carbon tyres all in very good condition?

Thanks for those who reply, I find this forum very helpful in all my cycling decisions.

Merlinghnd

Slow Downcp · July 2009

If it's in good condition I reckon about 60% of the initial cost. Bikes, like cars, lose so much value as soon as they are ridden. Also, whilst the C2W scheme is good for buying new, it reduces the second hand market as people can get new on the scheme for less than nearly new.

bendertherobot · July 2009

Be careful what you value it at. Our scheme requires us to "get a quote" of what the market value is. Then you can only buy it at that price. Which means you rather want it to be valued at bugger all. Then sell it for all you can!

merlinghnd · July 2009

I have a letter from my Company saying I need to make a payment of 3% of original value plus VAT to own the bike outright. I think my final payment is the end of this month and then I send a cheque to own the bike outright.. Rest assured I won't sell it for 3% or before I technically own it.

Personally speaking I think this is a great scheme but seems to me most people who use it (obviously not readers of this forum) buy a mountain bike and stick it in the garage. A tax break for the middle classes. Therefore I am trying to use it as much as possible before it gets withdrawn by the governmnent.

bendertherobot · July 2009

merlinghnd wrote:

I have a letter from my Company saying I need to make a payment of 3% of original value plus VAT to own the bike outright. I think my final payment is the end of this month and then I send a cheque to own the bike outright.. Rest assured I won't sell it for 3% or before I technically own it.

Personally speaking I think this is a great scheme but seems to me most people who use it (obviously not readers of this forum) buy a mountain bike and stick it in the garage. A tax break for the middle classes. Therefore I am trying to use it as much as possible before it gets withdrawn by the governmnent.

I'd be ecstatic if I got that letter. I fear the LBS are going to value mine at £500 and £500 it will be.

In fact, have a look at this for maths:

My gross sacrifice (on 1k) is £64.13 x 18.

So, £1154.34.

i.e I'm paying MORE than the £1k over the term. So something has gone wrong. I should have checked. Presumably my lot aren't VAT registered and I'm also meeting the admin charge.

But it cannot be right that I then pay another £400-£500 to own the bike. We're talking massive APR here.

Slow Downcp · July 2009

bendertherobot wrote:

merlinghnd wrote:

I have a letter from my Company saying I need to make a payment of 3% of original value plus VAT to own the bike outright. I think my final payment is the end of this month and then I send a cheque to own the bike outright.. Rest assured I won't sell it for 3% or before I technically own it.

Personally speaking I think this is a great scheme but seems to me most people who use it (obviously not readers of this forum) buy a mountain bike and stick it in the garage. A tax break for the middle classes. Therefore I am trying to use it as much as possible before it gets withdrawn by the governmnent.

I'd be ecstatic if I got that letter. I fear the LBS are going to value mine at £500 and £500 it will be.

In fact, have a look at this for maths:

My gross sacrifice (on 1k) is £64.13 x 18.

So, £1154.34.

i.e I'm paying MORE than the £1k over the term. So something has gone wrong. I should have checked. Presumably my lot aren't VAT registered and I'm also meeting the admin charge.

But it cannot be right that I then pay another £400-£500 to own the bike. We're talking massive APR here.

Even if not VAT registered, the gross sacrifice shouldn't be more than the gross cost :shock:

Rememeber that you'll be saving the tax and NI off the gross figure though, so you're not paying more than the £1k over the term.

gabriel959 · July 2009

bendertherobot wrote:

merlinghnd wrote:

I have a letter from my Company saying I need to make a payment of 3% of original value plus VAT to own the bike outright. I think my final payment is the end of this month and then I send a cheque to own the bike outright.. Rest assured I won't sell it for 3% or before I technically own it.

Personally speaking I think this is a great scheme but seems to me most people who use it (obviously not readers of this forum) buy a mountain bike and stick it in the garage. A tax break for the middle classes. Therefore I am trying to use it as much as possible before it gets withdrawn by the governmnent.

I'd be ecstatic if I got that letter. I fear the LBS are going to value mine at £500 and £500 it will be.

In fact, have a look at this for maths:

My gross sacrifice (on 1k) is £64.13 x 18.

So, £1154.34.

i.e I'm paying MORE than the £1k over the term. So something has gone wrong. I should have checked. Presumably my lot aren't VAT registered and I'm also meeting the admin charge.

But it cannot be right that I then pay another £400-£500 to own the bike. We're talking massive APR here.

I have just finished paying mine and they charged me one net payment at the end. That was only around £30 so you are being robbed.

bendertherobot · July 2009

Slow Downcp wrote:

Even if not VAT registered, the gross sacrifice shouldn't be more than the gross cost :shock:

Rememeber that you'll be saving the tax and NI off the gross figure though, so you're not paying more than the £1k over the term.

Agreed. But, even though it's not "costing" me that I think something has still gone very awry somewhere. Trying to find out what.

skellator · July 2009

bender are you sure the term of your contract is 18 months because at £64 per month looks like a 12 month contract

Anonymous · July 2009

£40 ?

Downwardi · July 2009

For us £1k over 12 months is about £83.
Take off your NI and Tax savings and it's £58 a month for 12 months. I would guess yours is £64 less NI/Tax which is £45 over 18 months.

I know on our payslips it only says the £83 coming off our wages so the savings are not visable.

How Much For 6 month Old Focus Cayo 105

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