C2W Final payment sorted,Help me choose the new bike

[cyberknight]

I have found out that our comapny will be using the "benefit in kind" method of calculating your final payment.

This means for me that on a £800 bike i am looking at a final payment of £30 to the company and around £40 tax on the final bike value.


Looks like it is all systems go for the 13th when i go get my paperwork.

This is the new bikes i am looking at ...

 

[bigup]

very nice mate

how much will you all in then on the £800 above bike?

 

[cyberknight]

Net cost is £40.56 a month x 12 =£486.72

Final Payment on bike = Approx £30

Tax on a benefit on final value on bike =£40

Total = £556.72

Total saving =£243.78

Last years figures would have been a saving of £ 283.


This will be my last bike for many years as mini CK #2 on the way so i have convinced SWMBO i should get one while i still can ....

 

[Toshiba Boy]

Excellent, enjoy Cyberknight. I'm thinking of similar under the scheme, just got to convince the Boss at home that I need an 8th bike, but you just do, don't you?!

 

[cyberknight]

I will be selling my current commuter and moving the nice bike to commuting duties, i am only allowed 2

Still deciding on what to go with , the heart wants the Comp and the mind is telling me the the race at £150 cheaper will be just as nice, and it will be cheaper to run as parts will be cheaper , LBS is more liable to have shimano bits .

I do like the darker colour ...

 

[Alembicbassman]

I think you can get better deals than C2W by paying cash and buying a 2010 or 2009 model bike or even buying second hand.

In 2009 I bought a 2008 model bike RRP £1200 new for £494 (Full 105 groupset, alu-carbon, FSA finishing kit)

A saving of 30% over RRP is common if you shop around, even more if you buy discontinued models.

Revenue and Customs have changed the valuation matrix now so it's not as cheap as it used to be.

 

[cyberknight]

I think you can get better deals than C2W by paying cash and buying a 2010 or 2009 model bike or even buying second hand.

In 2009 I bought a 2008 model bike RRP £1200 new for £494 (Full 105 groupset, alu-carbon, FSA finishing kit)

A saving of 30% over RRP is common if you shop around, even more if you buy discontinued models.

Revenue and Customs have changed the valuation matrix now so it's not as cheap as it used to be.

Yes unfortunately i do not have the cash up front, our company is using the taxable benefit system so it will cost another £40 or so compared to the old scheme .The scheme tends to only have new bikes from what i have gathered in emails + phone calls to the C2W provider.

 

[billy1561]

Very nice bikes those mate. My next one will be my third and last for some time. I use my hybrid to commute my mtb for forest and trails and my new one will be my fun bike.

 

[Bensbikespares]

Excellent, enjoy Cyberknight. I'm thinking of similar under the scheme, just got to convince the Boss at home that I need an 8th bike, but you just do, don't you?!

Yer thats right as long as there cheap and you have space for them why not

 

[TheBoyBilly]

Get the Comp CK, for the groupset alone.

Bill

 

[lejogger]

Get the Comp CK, for the groupset alone.

+1 for the Comp based on the Gruppo.

I was recently tossing up between the Comp and the CX Team, also on the C2W scheme. Went for the CX and the Apex groupset is fantastic. Just got back from 600 miles around Ireland on it, with over 16kgs of luggage, and I didn't have a single issue.

 

[cyberknight]

Pity it is in white, i prefer the race for the colour...

The more i think about the more confused i get

 

[billy1561]

Get the best bike you can stretch too because you obviously enjoy cycling and looking at your mileage pretty decent too. You won't have to look back wishing you had gone the little bit extra either. And, with another ck on the way it could be your last chance to push the boat out. Besides, when you sell your other bike you can take out swmbo as a thank you. Everyone's a winner.
More importantly you will be on your top bike of choice.

 

[Norm]

I have found out that our comapny will be using the "benefit in kind" method of calculating your final payment.

This means for me that on a £800 bike i am looking at a final payment of £30 to the company and around £40 tax on the final bike value.

Just a word of warning here, CK. They cannot agree the final payment in advance, because that stops it being a hire scheme (which is allowed) and makes it a hire purchase scheme (which is not allowed).

Whilst you may thing that your final payment has been agreed, there is nothing to stop the company from changing it, or the HMRC from changing the rules and nothing that you can do (other than come here to whinge) if / when they do so.

 

[cyberknight]

Just a word of warning here, CK. They cannot agree the final payment in advance, because that stops it being a hire scheme (which is allowed) and makes it a hire purchase scheme (which is not allowed).

Whilst you may thing that your final payment has been agreed, there is nothing to stop the company from changing it, or the HMRC from changing the rules and nothing that you can do (other than come here to whinge) if / when they do so.

Interesting , according to a guy at work who`s scheme has just finished they even have the pd 11(?) form filled in for you and they have many people that is they way they will be doing it, if it turns out in a year that they want the full 25 % then i guess i will just have to suck it up.


The more i think about it the more i want to go for the better bike .