Selling a cycle to work bike....

[NorvernRob]

Afternoon all

Ok, I know you're not technically supposed to sell a bike bought through a work scheme. But realistically does it matter? I've bought a new bike and need to sell my other to buy a cheap work hack. I'm not riding to work on a lovely carbon bike!

I'd like to advertise it on here but obviously won't if it's a no-no.

Thanks

Rob

 

[BSRU]

Afternoon all

Ok, I know you're not technically supposed to sell a bike bought through a work scheme. But realistically does it matter? I've bought a new bike and need to sell my other to buy a cheap work hack. I'm not riding to work on a lovely carbon bike!

I'd like to advertise it on here but obviously won't if it's a no-no.

Thanks

Rob

It's not "technically" it's legally you cannot sell as it is on hire.
Although how would they actually know, as long as you paid what was due.

 

[NorvernRob]

It's not "technically" it's legally you cannot sell as it is on hire.
Although how would they actually know, as long as you paid what was due.

Ok, legally. But it's not as if you can refuse to pay considering it comes out of your wages, and they don't ask for it back at the end! I'd still have a bike anyway (2 actually), just not the actual one I bought with the voucher.

 

[BSRU]

Ok, legally. But it's not as if you can refuse to pay considering it comes out of your wages, and they don't ask for it back at the end! I'd still have a bike anyway (2 actually), just not the actual one I bought with the voucher.

From my experience they wouldn't have a clue if you had sold it, as long as they get their money.
It's more of a conscience question.
All my C2W bikes are in the extended hire period so legally they are still on hire but in reality they are mine.

 

[spen666]

If you "sell" the bike whilst its still on the C2W scheme or the "extended hire" scheme then you are guilty of:
1. Theft of bike ( its not yours to sell0
2. Fraud (Probably) unless purchaser knew it was not your bike to sell. If P did know this, then they are guilty of at least handling stolen goods

 

[Cuchilo]

Wouldn't it become a problem for the buyer ? A bit like buying a car that was on HP ? If you lose or quit your job then the company can go and get their bike / car back .
Just saying .

 

[vickster]

Or a problem if you left or lost your job in the "hire" period.

 

[jowwy]

If you lose or leave your job within the hire period, the full cost of the bike is taken out of your last pay cheque minus the payments already made. Therefore making the bike yours to sell or keep.

 

[NorvernRob]

Thanks for the replies, I'll see how it pans out with regards to keeping it as I don't really want to sell. As far as being made redundant etc is concerned it isn't an issue in this case, nor is leaving my job.

 

[vickster]

I think you may lose the tax benefit too on those payments

 

[KneesUp]

Afternoon all

Ok, I know you're not technically supposed to sell a bike bought through a work scheme. But realistically does it matter? I've bought a new bike and need to sell my other to buy a cheap work hack. I'm not riding to work on a lovely carbon bike!

I'd like to advertise it on here but obviously won't if it's a no-no.

Thanks

Rob

Have I got this right?

You have two bikes - one which is a Cycle to Work bike and the other is a carbon bike.

And you want to sell the Cycle to Work bike so you can buy a bike that you can use to, er, cycle to work on?

 

[400bhp]

I'm not riding to work on a lovely carbon bike!

Why not? It''s just a "thing".

It wont melt/break/fall apart/implode.

 

[screenman]

Why not? It''s just a "thing".

It wont melt/break/fall apart/implode.

My thoughts as well.

 

[jowwy]

I think you may lose the tax benefit too on those payments

I was just stating there is no problem if you leave or lose your job. Yes you lose the taxable benefit, but no longer hire the bike. Its yours

 

[wiggydiggy]

Afternoon all

Ok, I know you're not technically supposed to sell a bike bought through a work scheme. But realistically does it matter? I've bought a new bike and need to sell my other to buy a cheap work hack. I'm not riding to work on a lovely carbon bike!

I'd like to advertise it on here but obviously won't if it's a no-no.

Thanks

Rob

If you've made the final payment its yours and free to do what you do with.

If not, you can't legally sell it but its up to you.....