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:

Re: Cylcle to Work Scheme: Too good to be true
 

Nothing directly relating but I used to work in Halfords Bikehut and many people used this scheme, and all seemed happy.

Re: Cylcle to Work Scheme: Too good to be true
 

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!

Re: Cylcle to Work Scheme: Too good to be true
 

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.

Re: Cylcle to Work Scheme: Too good to be true
 

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?

Re: Cylcle to Work Scheme: Too good to be true
 

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.

Re: Cylcle to Work Scheme: Too good to be true
 

For 800 quid I'd be wanting it to have an engine........................

Re: Cylcle to Work Scheme: Too good to be true
 

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 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, 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:

Re: Cylcle to Work Scheme: Too good to be true
 

Me's thinking next spring (still have relatively new Carrera to get fit on and ride through winter) and me's thinking "Boardman" ;-)

Re: Cylcle to Work Scheme: Too good to be true
 

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...