AndyKent
Member
Registered: 3rd Sep 05
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Presumabky a few of you with expensive bikes on here have used this......
I've read all the blurb and generally seems a decent idea, except for the "buy the bike off cyclescheme" at the end bit.
I'm only looking at a cheapish road bike (£400~) plus accessories at say £100, but the payments, including the lump sum at the end, mean you don't really save any money yet have to wait a month for a voucher rather than just getting on with riding.
What's peoples experience, do employers/cyclescheme chase you for the money at the end or does it just slide?
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Russ
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Registered: 14th Mar 04
Location: Armchair
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it depends on the scheme your company uses, from the time i applied to the day i got my bike was less than 2 weeks.
you might aswell get the most expensive one you can (up to 1k) to make the most of the savings
and you do save money (almost half), theres not always a lump sum at the end, again check which scheme your employer uses.
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AndyKent
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Registered: 3rd Sep 05
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It's literally "cyclescheme.co.uk"
Not really a saving to be made if I spend a fortune more on the bike is it 
Might stretch the budget a bit but currently no idea how much I'll use it so rather not go all out. Maybe next year!
As I say, the website says I'll buy stuff (bike plus accessories) for around £500. £27 a month = £300, then around 20% of the bikes value to buy it off them at the end of the year if you want to keep it. That makes about £450ish so not really much in it.....unless the last payment isn't applied, in which case decent saving.
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Simon_16v
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Registered: 14th Aug 06
Location: Yorkshire
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It depends how long your lease period is over. Mine is over 24 months, so I have to pay 17% of my bikes value at the end of the period.
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Whittie
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Registered: 11th Aug 06
Location: North Wales Drives: BMW, Corsa & Fiat
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I bought a roadbike through the scheme. Month later I changed jobs and had to pay the bastard off. I put money towards the bike too at the time, so was around £800 I had to pay in a hit.
Other than that, its a great scheme. If you will be in the same job, all is well and you'll save some money.
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Simon
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Registered: 24th Apr 03
Location: Oxfordshire
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As above, when I got mine a few years back the 20% was the value of the bike at the end of the 'hire' period which was considerably less that it's rrp. Think I paid £25 at the end on a £500 bike.
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AndyKent
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Registered: 3rd Sep 05
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Hmmm, I'm more tempted to go with it.
If you get to offset the cost of all the accessories too that's handy.
Still don't want to spend an extortionate amount but enough I'd rather keep the money in my account :-P
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taylorboosh
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Registered: 3rd Apr 07
User status: Offline
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My work dont do it 
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AndyKent
Member
Registered: 3rd Sep 05
User status: Offline
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So popped in to Giant today.
Cheapest road bike (Defy 5) plus accessories - £614 :-/
Don't come cheap these things!
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richardworrall
Premium Member
Registered: 20th Sep 05
Location: Derby
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what accessories? That bikes £500 in most places.
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AndyKent
Member
Registered: 3rd Sep 05
User status: Offline
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Helmet £40
Lock £43
Lights £20
Anti theft wheel axels £12
Bike £500
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Russ
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Registered: 14th Mar 04
Location: Armchair
User status: Offline
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Shouldve nought accessories from eBay and aldi
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willay
Moderator
Organiser: South East, National Events
Premium Member
Registered: 10th Nov 02
Location: Roydon, Essex
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def worth while, bought my bike through the scheme (1k), all the payments come out pre-tax which is handy. Will report back when I find out what my final payment is - though I've heard some schemes may not ask for the money but instead sign you up for a further 2 years with no monthly payment so you can't sign up again for another bike.
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willay
Moderator
Organiser: South East, National Events
Premium Member
Registered: 10th Nov 02
Location: Roydon, Essex
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quote:
Originally posted by AndyKent
Anti theft wheel axels £12
wut?
is that like... not quick release or something?
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taylorboosh
Member
Registered: 3rd Apr 07
User status: Offline
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Pay extra for bolt on ones lol
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AndyKent
Member
Registered: 3rd Sep 05
User status: Offline
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Yeah, extra for non-quick release axles They do have a special Allen key though, wooooooo!
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AndyKent
Member
Registered: 3rd Sep 05
User status: Offline
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Now i know what size i want might just buy something second hand on ebay.
On the £600 cost looks like between £460 best case, and £570 worst case through Cyclescheme.
Picking up a decent second hand bike off eBay plus accessories from more competitive shops should be doable for £300 all in I reckon.
Might not be as new a spec as the giant but for a first bike i think is a better option. Leaves room to upgrade wheels etc. if necessary
[Edited on 16-05-2014 by AndyKent]
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