First proper road bike on cycle2work

[annirak]

The final payment (to rent) will be 7% of the bike price so £70, total cost 680 + 70 = 750, total saving 25%. However, note that this option means you're still not owner of the bike until 36 further months have passed. This is what I have done in the past, so still saved money, but in the event of me leaving my work I'd have to legally return the bikes.

IANAL, but I was under the impression that ownership of the bike transferred to cyclescheme at the end of the hire period. I believe that you keep it even if your current employment terminates after the hire period.

EDIT: http://www.cyclescheme.co.uk/employers/employer-updates/hmrc-update
Section 9:

During the initial hire period, if Cyclescheme are notified of a change of employment status, we will contact the employee with their end of hire options at the point we are informed.

During the extended use period, the employer has no responsibility to contact Cyclescheme, as the agreement is between Cyclescheme and the employee. If the employee changes jobs the agreement is still valid.

 

[Cyclist33]

IANAL, but I was under the impression that ownership of the bike transferred to cyclescheme at the end of the hire period. I believe that you keep it even if your current employment terminates after the hire period.

Okay you're probably right.

 

[annirak]

Fair enough as long as you admit that halfords were very reasonable in offering a refund even though they were not liable which i cant see a LBS doing .
,

Oh yes, Halfords were more than reasonable. If that member had taken assembled delivery, rather than boxed, from halfords and had the same problem, however, I suggest that the offer would have been substantially more. That is my point about liability. If Halfords assembles it and you follow the maintenance instructions, and it still fails, then they will be responsible. And if they claim they aren't, then you have something to make a stink about.

However, if you take a bike boxed because "halfords don't know what they're doing," then something goes wrong, you'll be completely responsible.

If you still feel that Halfords assembly practices aren't good enough, take the bike to a LBS and have it double checked.

In an exercise in taking my own advice, I replaced wheels and bar tape on my bike after my accident, then took it to a LBS to have it checked over. The fact is that I'm not a bike mechanic and, while most common tasks are pretty easy, I don't always know what to look for.

 

[SteCenturion]

Commuting, not touring...it's a C2W bike

One of mine is C2W but it doesn't get used for commuting to work vickster

The OP doesn't mention commuting I don't think.

I get your rationale though, should this require consideration.

 

[Cyclist33]

One of mine is C2W but it doesn't get used for commuting to work vickster

The OP doesn't mention commuting I don't think.

I get your rationale though, should this require consideration.

It must legally be used for commuting at least some of the time, and when did a cyclist ever break a law?

 

[SteCenturion]

It must legally be used for commuting at least some of the time, and when did a cyclist ever break a law?

I use mine for "commuting" my way around a sportive or two...

 

[Louch]

I count hills as work. Not like a banker to misinterpret a tax directive....

 

[jowwy]

Also the bike can be a gift in kind using your p11d......then you just pay tax on the gift.

So if the bike is 1k.....at the end if the hire period, the bike is gifted to you at 25% of its original value, you then pay tax on that gift, the bike is then your straight away

 

[the_exile]

It's arrived!!!!! I think I'm in love.

 

[annirak]

Very nice!