Cycle to work scheme

[fossyant]

Given the price of bikes at the moment (i.e. sales) you could get a better deal buying the bike under finance if CTW can't access the discounted sales price. Just one to bear in mind. I think mine can access the sale price. TBH I've not bothered with the scheme since it first came out.

 

[cyberknight]

Given the price of bikes at the moment (i.e. sales) you could get a better deal buying the bike under finance if CTW can't access the discounted sales price. Just one to bear in mind. I think mine can access the sale price. TBH I've not bothered with the scheme since it first came out.

depends on your provider too, i end up with boardman bikes usually as although i can get pretty much anything other brands are full rrp if i want one .

 

[Supersuperleeds]

We use green commute initiative so the bike is never owned by the employer but by GCI, the employer pays them for the voucher upfront and then collects the amount as salary sacrifice.

GCI lease the bike to you for 12 months, then automatically extend if for another 4 years with no final payment.

For a smaller company they are fab as there is very little paperwork or input needed at the company level.

We also use GCI and they are very easy to use for both the employee and employer.

 

[Jenkins]

How much discount off the price of the bike do you get please? is it 40% and what if you leave the employer do you then just give them a lump sum to cover the outstanding amount?
Loads of people get these them sell them straight away I see it all the time.

As confirmed by @vickster you don't get a discount, but the salary sacrifice payment is pre tax. For example on my last bike the retail cost was £2437 but I paid 12 x salary sacrifice payments of £169.24 = £2030.88 which is a saving of £406.12

 

[Toshiba Boy]

Have bought three of my N+1 number of bikes over the years on the scheme, all at a sale price first, then with the tax saving on top. In each case I ended up paying c40% of the pre-sale / season before "price".

As such, with me already searching for these particular bikes at the respective times, then on these particular occasions, this route was somewhat of a no brainer to be honest.