Cycle to Work -New Halfords Scheme

[User]

 

[damj]

I've had a couple of bikes through the scheme now, one current. wasn't aware of the new small print. Tbh I didn't have to pay anything last time, not expecting to this time either. I wonder if this might impact if I was to get a new bike when this ones paid off in 8 months?

 

[vickster]

Make sure it's properly insured. Isn't that a pain if you want to sell it on? Who on earth keeps a bike for 4-5 years

Personally I would prefer to just pay it off in the 12 months even if the payments are a little higher (I'm self employed now so it doesn't apply, but I had Halfords C2W bikes from version 1.0 of the scheme, before it changed to version 2.0)

 

[Jenkins]

Isn't that the way the Cyclescheme operated - 12 months salary sacrifice, a nominal sum (5-7% of the value?) to cover a further 3 years' 'hire' from them then the bike is yours.

 

[Paulus]

Who on earth keeps a bike for 4-5 years

Ahem, a1975 Dawes Galaxy bought when 1 year old.

 

[vickster]

Ahem, a1975 Dawes Galaxy bought when 1 year old. View attachment 391771

Weirdo

Wasn’t it a bit big for you when you were 1?!!

 

[wisdom]

I have to say all my bikes are over 5 yrs old bar one which is now 3.
They are all in belting Nick so I dont need to change them however there is always room for a +1
Also the commuter bike is used everyday.It clocked up 4500 miles last year.

 

[bikingdad90]

You always had and still do have the option to return at end of hire period, pay the fair value to take ownership at year 1 or extend it for a further 5 years (6year hire).

It is just the way they ‘sell’ the package to the company signing up.

Personally I am happy with the 6 year thing as I got the tax and NI savings and the sale prices honoured so ended up saving lots of money had I bought the items as and when through out the year.

 

[cyberknight]

My company used to charge your £30 at the end to keep it , the rest of the final value was classed as a taxable benefit so a £250 final fee was £50 ,( dont quote me exact figures) which you paid over the year .

 

[Slick]

My company used to charge your £30 at the end to keep it , the rest of the final value was classed as a taxable benefit so a £250 final fee was £50 ,( dont quote me exact figures) which you paid over the year .

I think different firms charged different amounts and was one of the main reasons I always gave it a body swerve as the final amount wasn't made clear until the hire period came to an end and I'm a naturally suspicious person. We have a new provider who spelled it out at the outset which is why I signed up for my second voucher this year.

 

[cyberknight]

I think different firms charged different amounts and was one of the main reasons I always gave it a body swerve as the final amount wasn't made clear until the hire period came to an end and I'm a naturally suspicious person. We have a new provider who spelled it out at the outset which is why I signed up for my second voucher this year.

Its the only way Mrs CK would let me buy a bike , although she doesnt know what the bike cost , lets just say full amount .

 

[Slick]

Its the only way Mrs CK would let me buy a bike , although she doesnt know what the bike cost , lets just say full amount .

Ditto.

 

[cyberknight]

Make sure it's properly insured. Isn't that a pain if you want to sell it on? Who on earth keeps a bike for 4-5 years

Personally I would prefer to just pay it off in the 12 months even if the payments are a little higher (I'm self employed now so it doesn't apply, but I had Halfords C2W bikes from version 1.0 of the scheme, before it changed to version 2.0)

I forget you dont so maintenance, jsut buy a new one when it gets mucky

 

[cyberknight]

Ditto.

, withsome nicer wheels ...

 

[Slick]

, withsome nicer wheels ... View attachment 391778

Nice. I'm just waiting for my voucher to touch down but I'm in no rush as I'm playing a game of poker with the LBS who has reduced his price on a belter, but I think there's more to come.