Cycle to work scheme - is it worth it?

[Big Nick]

You get the bike slightly less than a sale price and pay in instalments

What's not to like?

 

[annedonnelly]

Who keeps a bike for 5 years?

Certainly not me on past performance

I'm hoping to keep my C2W Brompton a lot longer than that! But then my general policy is to buy quality to last as long as possible.

 

[vickster]

Oh it's not about how long it lasts...but how quickly I start looking for a new toy

 

[Cuchilo]

Either way, make sure you insure the bike properly

Insurance costs are far to high for theft . Im looking @£500 a year for mine , so not worth bothering with .

 

[vickster]

On your home insurance? Bikes up to £1500 are covered on my policy, over £1500 have to be named, but don't think it had much effect on the premium. That's insurance away from home too. Home is in an E* rated area too from memory

If the bike is stolen and is C2W/on finance you still have to pay for it, a £500 bike as the OP won't cost £500 to insure On my policy it wouldn't add to the premium at all. I assume you aren't talking about your Defy

 

[400bhp]

As usual, lots of misinformation on the c2W scheme We need a sticky.

 

[Cuchilo]

no not the defy , home cover will do that but no bikes over £500 . Im a bit stuffed as they have a special cover for my tools ( all risks ) at a very good price . My tools are covered for more than the bike but they wont cover the bike

 

[vickster]

My point was to the OP with his £500 bike being paid in installments

 

[Cuchilo]

My point was to the OP with his £500 bike being paid in installments

Sorry , I didn't realise he had a Defy .

 

[vickster]

He hasn't but if you read the first post he is wondering whether to get a bike on C2W with a £500 budget

 

[Cuchilo]

ahhhh he should get a Defy 5 and get it covered on home insurance .

 

[Big Nick]

I was quite surprised how expensive dedicated cycle insurance is

I worked out that I could replace my Bianchi in 4 years of premiums and my basic house insurance covers up to £1000 (with a £250 excess).

In reality then if my bike gets nicked in the first year I would of been better off with separate cycle insurance, any time after that and the house insurance payout plus the saved premiums will easily cover its replacement

 

[Soltydog]

Who keeps a bike for 5 years?

Certainly not me on past performance

You've not found the right bike then
My road bike is about 7 years old now & dont think I'll part with it for a long time, but since buying that several other bikes have been & gone

 

[vickster]

No, I just like to change things quite a lot. I think I've had the Pearson 3 years, need to ride it more...still makes me smile when I do

 

[DDE]

Cheers for the (many) tips. Some food for thought.

I was actually veering towards cancelling the voucher as it hadn't yet come through, but in the last 2 days it seems to have now been finalised and I don't think I can get out of it (?), so I'm just going to take the plunge and use it.

First annoyance though, had a bike I liked lined up at Halfords and they aren't an official partner of the scheme I'm on! But that's for another thread...