Bike advice please. compromise for c2w or purchase what I want ?

[maltloaf]

It's already got very wet this evening. I'm not a shiny bike man. I like them clean but they have to look used. I have no problem with it getting dirty !

 

[vickster]

They melt, nothing to do with dirt...you might find a puddle of plastic in the morning

 

[maltloaf]

2 rides done, only 30 miles total due to commitments but loving the bike. Surprisingly, it didn't melt ;-) but it did get very gritty and wet.

The supplied wheels are much lighter than my r501s so I have put my Durano on them and am using them. Gears were a bit screwy to begin with but all sorted with a tweak here and there.

My poor pinnacle which has shared around 4000 miles with me in the last year has been given a new lease of life in the spare room on the turbo at the suggestion of the missus.

All good :-)

 

[Dan B]

Which you want to avoid at all costs as if you terminate your employment, or are made redundant you lose the bike

Not according to the blurb I read: the extended hire agreement is between you and cycle scheme, your employer doesn't come into it. But different schemes probably work differently

 

[SteCenturion]

The options you have at the end are:

1. Hand the bike back.
2. Buy the bike based on the depreciated value, which depends on the original purchase price. 25% on bike over £500 iirc.
3. Pay the tax on the 25% value which is deducted from your pay over the year.

I chose the obvious, option 3, and am paying £50 back over the year out of my pay. No great shakes at £4.17 per month.

@bpsmith

do you own the bike after option 3 ?

so pay the tax on 25% final value over a year & it's yours ?

I ask as I got a C2W bike a month ago & if so, sounds just the job for me.

 

[bpsmith]

@bpsmith

do you own the bike after option 3 ?

so pay the tax on 25% final value over a year & it's yours ?

I ask as I got a C2W bike a month ago & if so, sounds just the job for me.

Yes, spot on.

Your company treat it as a benefit and "gift" you the bike. They have to tax you on it, so use the depreciated value as the value and then just tax you on it.