View Full Version : Cylcle to Work Scheme: Too good to be true
Just bunged some figures into their website's calculator and the figures took my breath away. Seemed too good to be true.
Anyone on here used the scheme? What did it cost you? What was the final payment as aproportion of the of the initial "ticket value"?
And before anyone asks..... yes, I am in a PAYE scheme and yes, my employer participates :-)
All advice welcome :thumbsup:
Jamiebridges123
02-07-09, 07:57 PM
Nothing directly relating but I used to work in Halfords Bikehut and many people used this scheme, and all seemed happy.
I currently 'rent' a specialised fsr xc comp from my work.it costs 83quid a month off the top line of my salary. so basically I earn 1k less a year for the purpose of tax etc... I've not had the final payment thing (that's sept) but I think it'll be fine.
ive no complaints at all about it. gone very smoothly. has got me into biking without the big outlay at the begining! would def consider it again!
the white rabbit
02-07-09, 08:38 PM
I got a cheap folder for the boot of the car plus kit, £500 total. Save about 20%ish off that, pay monthly. My final payment is about £28.
Thanks guys, most helpful. Final payment doesn't sound much, which is good news.
From the figures the I put in, it was looking like £63pm gross off salary, £43pm net on an £800 bike. So 12 x £43 net over a year. Fabulous :-)
Anyone had any bad experiences?
the white rabbit
02-07-09, 08:51 PM
I think the final payment is 5% but could be wrong.
If you do it make sure you buy all the kit you need down to the last thing as you can include it all. I forgot waterproof trousers and couldn't add them on after the event.
SoulKiss
02-07-09, 09:00 PM
Thanks guys, most helpful. Final payment doesn't sound much, which is good news.
From the figures the I put in, it was looking like £63pm gross off salary, £43pm net on an £800 bike. So 12 x £43 net over a year. Fabulous :-)
Anyone had any bad experiences?
For 800 quid I'd be wanting it to have an engine........................
Jayneflakes
02-07-09, 10:41 PM
The trade mag for cycle retailers had an indepth review of C2W this month. There are a couple of options out there for you, one of which is done through Halfords (http://www.cycle2work.info/) and means you can pop in and order a £1000 carbon Fibre Racing bike and pay monthly for the thing. :smt118
Other options include Cyclescheme (http://www.cyclescheme.co.uk/home,intro.htm), set up by a bike shop I worked for while still at uni. They are basically offering a Tax Free bike in a scheme that is encouraged by the Government. :salut:
All pretty good, just find the one that is right for you. :rolleyes:
The trade mag for cycle retailers had an indepth review of C2W this month. There are a couple of options out there for you, one of which is done through Halfords (http://www.cycle2work.info/) and means you can pop in and order a £1000 carbon Fibre Racing bike and pay monthly for the thing. :smt118
Me's thinking next spring (still have relatively new Carrera to get fit on and ride through winter) and me's thinking "Boardman" ;-)
454697819
03-07-09, 08:06 AM
I am trying to convince my boss this is a good thing but sadly he tutned around and went.. I just bought you a comapny car...
I think he substantially misses the point...
Sir Trev
03-07-09, 12:56 PM
For 800 quid I'd be wanting it to have an engine........................
:winner:
My Raleigh Pioneer Classic was only one hundred and something quid... OK a stupidly expensive one would be lighter but would you really be able to tell that much???
Shame I live 20 miles down a motorway from work... Not to mention the number of hills in High Wycombe!
I was of the same thought as you, but my cannondale is sooooo much easier to ride then my old Raleigh was. This still doenst stop the 1st 2.5 miles being up hill (Increasing in gradient to a 1:4) being there and really stops me form riding mroe often!
SoulKiss
03-07-09, 01:51 PM
I was of the same thought as you, but my cannondale is sooooo much easier to ride then my old Raleigh was. This still doenst stop the 1st 2.5 miles being up hill (Increasing in gradient to a 1:4) being there and really stops me form riding mroe often!
And as you know and realise because you use the SV, thats WHY you would want an engine if spending that amount :p
metalmonkey
03-07-09, 03:45 PM
Aren't you meant to use the bike 80% of the time for getting to work on? Seems like a good idea, however I could never be arsed to cycle to work that often espically on 12 hour days.
the white rabbit
03-07-09, 03:52 PM
Aren't you meant to use the bike 80% of the time for getting to work on? Seems like a good idea, however I could never be arsed to cycle to work that often espically on 12 hour days.
Yes, you are meant to. ;)
454697819
03-07-09, 04:05 PM
Yes, you are meant to. ;)
its 50% of the time now, and its not policed.
I got this about 18 months ago on the C2W scheme:-
http://farm3.static.flickr.com/2374/2091193311_876c6b3660.jpg
£1k of super-light carbon fibre + shimano ultegra :smt041, got it via Halfwits with a 26% reduction through my company- overall, the 'actual' cost to me is about £14 per month interest free over 3 years (taking in to account the discount and tax/NI savings), think I end up paying just over £500 plus whatever the final payment will be.....
Unfortunatley Halfwits no longer deal with Planet-X so I'll have to choose another brand when it is up for renewal in Oct next year, shame really as I quite fancied a Planet-X carbon time trial bike for my next 'commuting' bike, think I might go for a full suss XC mountain bike next time instead ;)
kwak zzr
05-07-09, 05:34 PM
our work participate in this via halfords and a few have had bikes on the scheme and they seem happy with the terms.
:winner:
My Raleigh Pioneer Classic was only one hundred and something quid... OK a stupidly expensive one would be lighter but would you really be able to tell that much???
reckon you could tell the difference between a Peugeot Speedfight and an R1? Same difference.
kwak zzr
05-07-09, 05:40 PM
reckon you could tell the difference between a Peugeot Speedfight and an R1? Same difference.
i know the difference, ones 2k and ones 9k :)
maviczap
05-07-09, 05:42 PM
Aren't you meant to use the bike 80% of the time for getting to work on? Seems like a good idea, however I could never be arsed to cycle to work that often espically on 12 hour days.
+1 on can't be arsed to cycle home after a 12hr day. My team think I'm lazy, but they don't have to fill in the paperwork I do at the end of the shift
kwak zzr
05-07-09, 05:47 PM
i am lazy.
maviczap
05-07-09, 05:49 PM
oh & I prefer to cycle in lycra, so they'ed rip you know what out of me
oh & I prefer to cycle in lycra, so they'ed rip you know what out of me
....and they'd be clearly able to see you're nuts ;-)
tigersaw
05-07-09, 07:42 PM
My company offered this scheme too. I could not argue with the maths, but thought I'd leave it for those who like to smell all day and fall asleep at lunchtime.
metalmonkey
29-09-09, 08:39 PM
Okay I'm bringing this one back to life...
I have had a look at the scheme work do for us lot. It done through Evans cycle to work scheme, so we get all the kit of them.
If I was to get a £1000 voucher, it would cost £45/month of my pay so not too much off.
I was thinking off getting a mountain bike, then it has more uses not just for road riding. A very quick check on google maps is that its about 10 miles from work there abouts, but I can take the train part of the way if I want too.
I have big locker, showers and would want to put the bike in the locker room, I don't like the idea of leaving a good bike changed up outside espically in the city.
These are the bikes that fit in the price range;
http://www.evanscycles.com/categories/complete-bikes/mountain-bikes?brand=&page=4&per_page=100&price_from=&price_to=&sort=desc
Any suggestions on what would be a good one?
Max budget would be;
Bike £800
Helemet £50
Acceriors £150
The form we have is set out like that so you have to state what you will spend on each. Is it worth getting everything I need through the scheme, os is Evans expenisve could savings be made anywhere else?
Thanks:D
fizzwheel
29-09-09, 08:45 PM
Is it worth getting everything I need through the scheme
IMHO yes it is.
Evans expenisve could savings be made anywhere else?
Evans are normally quite good and do have a good selection of bikes. The do get a bit of a kicking on the bikeradar forum for their pre and after sales service though...
You might try and find a local bike shop that might well give you better advice and service, but then they might not be signed up to your cycle to work scheme so that wont help you.
have a look on here
www.bikeradar.com/forums
theres loads of good advice on there.
HTH
metalmonkey
29-09-09, 09:26 PM
Thanks Fizz, I'll have a read through this week, there are a few other shops that I walk to in my lunch hour tomorrow. But they are not covered its seems that Evans have got the contract for the ride 2 work scheme. But hopefully they will be more interested than the guy I spoke to tonight who didn't seem to know much or really that intrested in being much help.
BanditPat
29-09-09, 09:36 PM
My dad did it, got a carbon fibre fancy thing that was supposed to be about 1400 quid IIRC he's fairly happy with it I think
If I was to get a £1000 voucher, it would cost £45/month of my pay so not too much off.
it wouldnt be as simple as £45/month off your salary. your pay slip would show your normal pay then have a deduction for cycle 2 work for 1/12th of your £1k. so about £83ish deduction from your salary
sorry if you realise this, but didnt want you signing up then getting your first pay slip thinking you've been done!
it wouldnt be as simple as £45/month off your salary. your pay slip would show your normal pay then have a deduction for cycle 2 work for 1/12th of your £1k. so about £83ish deduction from your salary
Correct, but that's from the gross salary....... the net difference, i.e. take-home pay difference will be around 40-50% of this (depending on the individual's tax rate, national insurance, etc). You will pay a lump sum at the end the year which is usually about 5% of the total (£50 per £1k). Bargain :-D
Fizz is right - get everything that you can (lids, lights, waterproofs) via a the scheme as the savings are fabbo :thumbsup:
There are no drawbacks if you're in the market for a bike. Yeah, I know you're supposed to ride to work on it, but it's impossible for the taxman to check everyone and as long as your workplace doesn't keep a record (which I've never heard of!) then you're fine.
[Edit:
There is a drawback - pensions. Don't use the scheme if you're in final salary pension scheme and likely to retire within two years as the reduction in gross salary might affect your pension. Take independent advice if you're in doubt about this :thumbsup:]
Correct, but that's from the gross salary....... the net difference, i.e. take-home pay difference will be around 40-50% of this (depending on the individual's tax rate, national insurance, etc). You will pay a lump sum at the end the year which is usually about 5% of the total (£50 per £1k). Bargain :-D
Fizz is right - get everything that you can (lids, lights, waterproofs) via a the scheme as the savings are fabbo :thumbsup:
There are no drawbacks if you're in the market for a bike. Yeah, I know you're supposed to ride to work on it, but it's impossible for the taxman to check everyone and as long as your workplace doesn't keep a record (which I've never heard of!) then you're fine.
[Edit:
There is a drawback - pensions. Don't use the scheme if you're in final salary pension scheme and likely to retire within two years as the reduction in gross salary might affect your pension. Take independent advice if you're in doubt about this :thumbsup:]
Crazy scheme giving our hard earned tax 'dollars' away when there is more important things in the country to fund.
Close relative of mine is getting fully kitted out but with a 80 mile a day commute will not be riding to work. Good luck to him.
Another looney left policy brought to you by the makers of 'mess', i.e. the Labour party - sorry, gone off on one.
wyrdness
30-09-09, 08:24 AM
Crazy scheme giving our hard earned tax 'dollars' away when there is more important things in the country to fund.
Close relative of mine is getting fully kitted out but with a 80 mile a day commute will not be riding to work. Good luck to him.
Another looney left policy brought to you by the makers of 'mess', i.e. the Labour party - sorry, gone off on one.
So the government does something which is making a lot of people happy by giving them cheap bikes as an incentive for them to use their cars less, and you're moaning about it.
Crazy scheme giving our hard earned tax 'dollars' away when there is more important things in the country to fund.
Yeah..... like pointless/fruitless conflicts in Iraq/Afghanistan, ID cards, surveilance of the population, etc? ;-)
At least with this scheme there's tangibile health benefit and saving to the NHS from getting lardy-ar$ed and otherwise sedantry people active :thumbsup:
And it's benefitting local bike shops who sign up to the scheme, so good for local economies and small businesses too.
454697819
30-09-09, 01:22 PM
I approached my director about starting this here...
Small firm, several local people who would be interested in it...
Response I got... "why should we buy you a bike when we have just bought you a car"?
Ignoring the car is a contract item, they so missed the point I have given up.
timwilky
30-09-09, 02:47 PM
err, I currently work out my loft, It is a climb up the stairs from my bedroom why would I want to cycle there?
OK my pucker office is 120 miles away, cycling to work is not an option.
Agree though this sounds like a scheme to subside bicycles to people who want expensive push bikes. Can they please subsidise transport for those for whom cycling to work is inappropriate.
When I worked at Trafford Park (Manchester for the southerners) we had one lad attempt to cycle from his home in Liverpool, despite being an enthusiastic cyclist who did not mind the miles, we had to ask him to stop as he stunk and no one wanted to be in the same office as him.
So the government does something which is making a lot of people happy by giving them cheap bikes as an incentive for them to use their cars less, and you're moaning about it.
My apologies for not detailing my gripe better.
The ethos behind it is great, as will be the benefits to those who actually ride to work.
My gripe, (the lack of policing) which I stand by, is those that will take advantage of the scheme thus spending the money and either don't use the bike after a few trips, or intend to sell the bike on to fund Xmas.
Maybe a bit of a stretch but we can't criticise MP's for expense scandels if we are then going to give a nod and a wink to someone abusing a scheme like this.
fizzwheel
30-09-09, 06:35 PM
We are signed up to cycle to work at my workplace.
I have noticed recently that :
1. The cycle rack is full at both buildings on my site
2. There are empty spaces in the carpark at work
I normally cycle, I have done for along time and I have noticed how many more bikes there are at work now and also that theres a queue for the shower in the morning.
So my observation is that the people that do or will abuse it are actually outweighed by those that dont.
Our limit is £1000 hardly anybody has bought a bike at the price point, the majority are spending around the £500 - £750 mark on their bikes.
We've engaged with the local cycle shops so the money is going back into the local economy.
I've had loads of people come and ask me about cycling and what bike to buy etc etc. It seems very popular and the bikes are being used to get to work on. Whether this wil change once Winter sets in or not I dont know...
Seems like a positive thing to me. I personally havent used the scheme but thats only because I bought my bike ages before it was introduced...
metalmonkey
01-10-09, 07:36 AM
I had a look through the web site, any commets on these?
http://www.evanscycles.com/products-comparison?products=ec020799%7Cec020000%7Cec020001
I'll do a bit of web research when I get home tonight, but they seem what I'm looking for. I can only get the bikes listed on this web site, nothing else.
I went too two shops, they both said put thinner tyres as full mounatin bike tyres for the road, make it hard work. Any other suggestions?
fizzwheel
01-10-09, 07:39 AM
I went too two shops, they both said put thinner tyres as full mounatin bike tyres for the road, make it hard work. Any other suggestions?
Yep buy a road bike ;)
Seriously if all you are intending to do is ride on road, then buy a road bike. really ask yourself how likely and how often it is going to be that you want to go off road, if the answer is once or twice, or never then buy a a road bike.
if the answer is once or twice, or never then buy a a road bike.
... or a road bike with flat-bars if you don't fancy the drop-bars. Scott have a couple of these in their Speedster range :thumbsup:
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