Halfords cycle2work scheme nightmares

[cyberknight]

There isn't one way of doing it, there are several. Different companies/schemes will do it differently.

If, by final payment", you mean the amount that you are required to pay to own the bike, then there is a sliding scale (by term) by which the final payment must not be less than.

Your company/scheme has chosen to let you own the bike after a year I guess, so you are required to pay 25% (or more if the company is looking to make a profit from you) of the purchase price.

It is perfectly possible to extend the loan hire to 5 years, at which point you pay £0 to own the bike.

There's also to use the final payment as a b.i.k, therefore saving tax and NI IIRC.

But i did not pay 25 % as stated and the loan period was not extended .As i said since i bought my last C2W bike on the old scheme before the new sliding scale was introduced ,, making the total saving better than the updated scheme which is what i have been saying all along

 

[400bhp]

The scheme wasn't changed - it was a clarification of the existing rules.

Using your anecdotal way of explaining things.

My first bike bought on C2W. I paid £80 as a final payment. (about 7% of the purchase price).

My 2nd and 3rd bikes. My final payment is and will be £0.

The clarification of the rules has been in my favour because the employers I am with have used it in a pragmatic way..

 

[Milzy]

Yep. This is the best way! I'll be paying £8 a week for a year. Then own it. Peanut money. Happy days. We just want to be greener because we use solar & other efficient powers in our hot water systems.

 

[DCLane]

from the other side of the M1.

The final payment is the end part; either you pay it or return the bike. Many employers cover it themselves however.

My own C2W bike, a £500 Spesh Globe 2 Daily, comes to an end in September and I've a £13 final payment. We're restricted to Edinburgh Cycles in Leeds - so the next one will be from there at the end of the year, either a Cyclocross or MTB and will be at the £1k limit.

 

[Milzy]

Nice one. I was born in Dewsbury.

 

[Psycolist]

Having mentioned a family members disgust at being limited to using Helfrauds for his CTW bike, a number of members suggested that although that may be the case in theory, if he contacts the CTW telephone number in your voucher pack, then the choice suddenly balloons. This he did, and boy is he pleased. He has placed an order for a Scott Aspect 630 when he was thinking that his choices were a Carrera Kraken or Hoodoo Voodoo. This little nugget of information, that is not made clear in any of the bumff that his company supplies, and without the help and experience of you guys on this forum, he would have been stuck with a bike that he was never going to be really happy with. SOOO THANKYOU VERY MUCH !

 

[Grant Fondo]

I didn't realise you could use vouchers elsewhere - ended up buying a junk boardman mtb and flogging when the year was up - think I made about £20 on the deal

 

[SquareDaff]

I've heard stories of people paying their last payment & then that's it. The company doesn't bother chasing anything up & you can just start another scheme.

Like mine for instance! Get given the bike and get taxed on the final amount as a "benefit". Works for me - makes the savings all the more worthwhile.

Have you tried looking for stock in Halfords other than the one in Wakefield? Leeds isn't too far from the railway station, neither is Doncaster.

 

[SquareDaff]

One other thing that I don't think has been mentioned. If you do buy from Halfords join British Cycling. Get's you 10% off. And it does work in conjunction with Cycle to Work vouchers. I know - I've done it at the Wakefield branch

 

[SquareDaff]

And one other thing- although this might be VERY cheeky, but if you don't try you don't get. Halfords have a Web Exclusive 10% off at the moment. Order through the web - get your 10% off - have delivered to store and pay there with your C2W vouchers and with a BC card present (maybe another 10%). Not sure that one will work though.