Cycle To Work e-bike spending limit removed.

Discussion in 'General Cycling Discussions' started by tom73, 10 Jun 2019.

  1. Phaeton

    Phaeton Guru

    Location:
    Oop North (ish)
    Sorry I understand all the above points, so is this actually a no news story, or have they made provision for companies that do not hold credit licenses to be able to offer over £1K, neither the article or you post makes this clear.
     
    glasgowcyclist likes this.
  2. rivers

    rivers Über Member

    Location:
    Bristol
    My employer has a pool of e-bikes for employees to use for up to 48 hours, or over a weekend. It is to give people a chance to try out an e-bike before deciding whether or not they want to purchase one on our C2W scheme
     
  3. IanSmithCSE

    IanSmithCSE Über Member

    Good afternoon.

    It is mostly a no news story. :-)

    If the employer doesn't have the necessary FCA (Financial Conduct Authority) approval to offer credit then both before and after the announcement they can not offer over £1K.

    Both before and after the announcement the employer without the FCA authorisation can delegate the funding of the scheme to a third party with FCA approval who can offer over £1K.

    The announcement was a clarification of something deemed to be quite obscure.

    Normally your employer buys the bike and creates a credit agreement with you, this is where the £1K limit comes from

    Over £1K a third party company creates the contract with you for your £3K bike, you enter into a salary sacrifice contract with your employer for the scheme. The employer buys a voucher off the third party and this voucher must be used at an approved dealer, where the third party usually has some sort of profit share arrangement.

    This arrangement sounds a bit iffy hence the need for clarification.

    It doesn't follow that because your employer is allowed to do this, that he will. :-)




    Bye

    Ian
     
    Pale Rider, C R and Phaeton like this.
  4. Pale Rider

    Pale Rider Guru

    As a relative minion, there's no way my employer would enter into any financial agreement at my suggestion.

    We are that centralised, even the regional managing director can barely authorise the purchase of a pack of Biros.

    I could do an 'ordinary' cycle to work, so it's not all bad.

    A Brompton might not be a bad idea, given they hold their value better than other bikes, and I couldn't get much of a discount for cash.
     
  5. Slow But Determined

    Slow But Determined Nid Yw Cymru Ar Werth!

    If it was rebranded as "A Cheap Way For People To Buy A Bike But Not Actually Go To Work On It But Use It For Leisure At The Weekend After Going To Work All Week In The Car" I may have more time for this scheme.
     
    SuperHans123, johnblack and dodgy like this.
  6. Shearwater Missile

    Shearwater Missile Well-Known Member

    Location:
    Stowmarket
    I bought my Claude Butler Roubaix through the CTW scheme back in 2010. The retail price then was £500 as that was the lower limit, anything up to £1000 would incur a higher final payment when the scheme finished. I had already set a limit of £500 for a new bike before I`d realised this limit anyway. I think that I paid £18 to actually purchase the bike after year 3 I believe. In total I paid about £340. I used the bike to commute (30 miles round trip) and of course at every available opportunity. Like myself there were quite a few others at work who used the scheme and with some, on more than one occasion. I still use the bike and now has over 14000 miles on it. My ex employer stopped the scheme just before I retired in 2017.
    I should have added that if I`d been older at the time or in need of assisted power then I would have taken the option. I know that my cycling ability is`nt the same as it was so at least it is nice to know that using an ebike would be an alternative. Not to zoom around on but to assist.
     
    Last edited: 13 Jun 2019
  7. jowwy

    jowwy The bearded Powerhouse

    When I have my opinion on things, my post gets deleted and I’m thread banned......it should be the same for everyone. Anti ebike rhetoric should be removed immediately no matter who posts it
     
  8. johnnyb47

    johnnyb47 Über Member

    Location:
    Wales
    That's a bit harsh calling ebike user's lazy feckers. If a person is overweight, suffering medical conditions, or just simply lazy, why should they be branded and stigmatised. Who are we to judge.
    Live and let live and embrace all kinds of cycling. It's one less car on the road and one more cyclist.
     
  9. Phaeton

    Phaeton Guru

    Location:
    Oop North (ish)
    I've bought my last bikes via Cyclescheme Ltd https://www.cyclescheme.co.uk which ws the company of choice for the company years ago. I sent them an email asking if they were going to support the new no limit this was their response.

    So it looks like I will have to wait for a little longer before I get my E-bike.
     
    dodgy likes this.
  10. dodgy

    dodgy Guru

    Location:
    Wirral
    Thanks for posting that Phaeton, I knew there would be a little admin to go yet!
     
    Phaeton likes this.
  11. Phaeton

    Phaeton Guru

    Location:
    Oop North (ish)
    Just bear in mind that this is the company our company uses, other providers may be in front/behind with where they are in the process if you follow the link then under Timeline you get

    But we haven't received anything yet.
     
  12. dodgy

    dodgy Guru

    Location:
    Wirral
    Quite fancy a GoCycle
     
  13. Pale Rider

    Pale Rider Guru

    I tried one a few years ago, but not for long enough to form a valid opinion.

    From what I read elsewhere, owners like their GoCycles. and there's some good reviews online.

    I saw one in a branch of Cycle Republic, although it wasn't there on my last visit a couple of weeks ago.

    https://gocycle.com/
     
  14. glasgowcyclist

    glasgowcyclist Charming but somewhat feckless

    Location:
    Scotland
    If I were in the market for an ebike tomorrow then I'd avoid the C2W scheme and go for an interest-free loan over four years from https://www.energysavingtrust.org.uk/scotland/grants-loans/ebike-loan . (Only for viewers in Scotland)

    You get more finance (up to £6k), more time to pay and the bike is yours from the outset with no final payment either.
     
    Last edited by a moderator: 15 Jun 2019
  15. keithmac

    keithmac Über Member

    Best put mine back in the shed then and get the car back out kn the road..

    (Bought outright anyway, not on C2W Ironically as I use it to commute to work and back).
     
    johnnyb47 and Shearwater Missile like this.
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