Cycle to work scheme.

[sinto]

Has anyone done this?

I signed up through my work for upto £1000 as didn't know what bike I'd end up going for.

Ordered my bike via Evans cycles at £680.
All was good and I went to pick it up....they say "sorry, but your bike's been sold by another member of staff"

So, a bit annoyed, but I pick another bike and they need to order from warehouse so another week or so goes by and I get a call to go and collect.

In the meantime I've had two wageslips showing money for scheme already being taken off!

I call Evans and ask them to hold on till I get hold of someone in my HR department to explain why this has happened. Eventually I get to talk to someone as they'd recently changed our HR department to the Far East for some reason (costs no doubt).

So...I've discovered that when I got the certificate/voucher authorised by my work they start taking payments right away! I thought it was when you actually got the final bill from the shop, that's when it would start.

Now I have a few options I think.....

1. Cancel everything and try and get my money back from the work/scheme administration.

2. Carry on with the purchase and buy more stuff upto the value of £1000 and be stuck with it!

3. As 2 above but get bits for family members or friends or even sell on fleebay etc (or even on here watch the for sake section soon )

Anybody had this experience or any advice?

Cheers

[Mike01]

I did this and yep as soon as you get cheque they start taking money back, my scheme stated that the bike remained their property until all money is paid back and that under certain circumstances they could ask for it to be taken in (lose job etc...).
Like you I had a bit extra left over so got bits for the bike but only bits I could return with it if needed 

[sinto]

Hi Mike,
I really don't know what I should do.
I know it's "their's" till I pay it off, my problem is that they've already started taking 'payments' from my wages, (hopefully still be in work as this is my 20th year with them) so I think I'll end up with stuff I either won't use or can't use fleebay here I come I hear

[Andy FZS]

I've been looking at the ctw scheme but think I might just buy a bike outright. Still not sure what to buy,  I'm looking for a hybrid type. Man at work tells me to buy a giant as they're good value. Any suggestions I'm thinking of spending  £500 ish.
Cheers.

[sinto]

I've been looking at the ctw scheme but think I might just buy a bike outright. Still not sure what to buy,  I'm looking for a hybrid type. Man at work tells me to buy a giant as they're good value. Any suggestions I'm thinking of spending  £500 ish.
Cheers.

Giant's a great brand, I've had the defy before with no hassles, but sometimes your best just going into your local shop and not worry about name, it's more of a 'feel' thing, you'll probably sit on a bike you've never heard of but it feels right for you
I done the same and now wanting a NORCO,  never heard of them before I went to the shop but it 'feels' right for me It's a cyclecross but would depend what sort of biking your wanting to do

[darrsi]

Am i missing something here, have none of you lot got a motorbike? 

[sinto]

Am i missing something here, have none of you lot got a motorbike? 

Ha ha, yes but I was wanting a bike to go out with my boy and this was a cheaper option as you don't pay the tax on it through the scheme

[Jamieg285]

Not sure if it varies by provider, but in order for them to qualify for the tax breaks, the bike isn't your's for a further two years after the payments have completed.  Even then, you have to buy the bike to complete the transfer (small amount, mine was about £65 for a £950 bike).

All in all, the saving was minimal and not really worth doing. You can probably match the savings by shopping around and getting a good deal from a dealer.   Note that if buying with cyclescheme, the dealers revoke any deals they offer to normal cash sales.

Sadly, most of this is too late for you.  Now you gone a couple of months into the scheme, I doubt there is any wriggle room to get out of it.

[Pickle]

I've been looking at the ctw scheme but think I might just buy a bike outright. Still not sure what to buy,  I'm looking for a hybrid type. Man at work tells me to buy a giant as they're good value. Any suggestions I'm thinking of spending  £500 ish.
Cheers.

Giant's a great brand, I've had the defy before with no hassles, but sometimes your best just going into your local shop and not worry about name, it's more of a 'feel' thing, you'll probably sit on a bike you've never heard of but it feels right for you
I done the same and now wanting a NORCO,  never heard of them before I went to the shop but it 'feels' right for me It's a cyclecross but would depend what sort of biking your wanting to do

Norco is a good enough make for mountain bikes Sinto but not sure on cyclocross. Some say they are underspecced for the money. Can't comment on the CTW scheme as haggled with Hafrauds on one of their offer weekends and got 20% off total on a Voodoo Bizango 29er mountain bike. Great bike for the money, just a shame their sole distributor in the UK is Halfrauds.
Had a Giant XTC before it got stolen and it was a quality bike. Best bet is to trawl the cycling forums for info.

[BBROWN1664]

I'm not going to help but Evans had a warehouse clearance sale on last weekend where they were accepting the CTW  vouchers.

I didn't use any but did manage to pick up a cheap (Trek) bike for half price compared to the normal website price.

[sinto]

I'm not going to help but Evans had a warehouse clearance sale on last weekend where they were accepting the CTW  vouchers.

I didn't use any but did manage to pick up a cheap (Trek) bike for half price compared to the normal website price.

Yeah they accept ctw vouchers for even the sale items in the shop providing it's to do with maintenance etc, they also accept it for cycle racks which I didn't think they would. Only thing they won't give you on the scheme is mods (apart from lights), like a different seat or extra brakes on the bars.

[mtread]

Don't forget the benefit of Cycle to Work is the tax break. Your net salary is taxed after the repayment is deducted. So you are saving 20% tax plus 11% (or so) National Insurance on the repayments.
If you just go and buy a bike from a shop, you are paying for it out of taxed income.

[sinto]

Don't forget the benefit of Cycle to Work is the tax break. Your net salary is taxed after the repayment is deducted. So you are saving 20% tax plus 11% (or so) National Insurance on the repayments.
If you just go and buy a bike from a shop, you are paying for it out of taxed income.