Decisions . . . C2W scheme or not . . . . .

[jamin100]

So, finally after what seems like years by employer (a local council) has finally got the Cycle 2 Work Scheme setup through halfords and also the Bikes For Staff scheme (which I have never heard of)

I currently ride a Boardman hybrid Comp 2010 but im not sure wether to replace it or not with a bike from one of the scheme's..

I have panniers on my boardman so if i were to replace it, i think I would go for the Boardman CX as i fancy the idea of drop bars.

However, having never rode a drop bar bike im not sure how i'll get on with it. My hybrid has 28c wheels where as the CX comes with 35c. Will i notice a difference between the 2?

from the very vague savings calculator on the c2w website It looks like I could get the £899 CX bike for around £500 over 12 months, not sure if that is correct or not though..

If i were to go for the c2w bike then I would have to sell the hybrid as I have no where for 2 bikes

My cycle route is 11 miles each way, all on roads (although very BAD roads at that)

 

[cyberknight]

Much as i like to say n+1

Are you having a new bike just to have a new bike , if you do not have space for more than 1 then replacing the boardman if its still running fine seems to me to bee a " ooh shiny " moment.
If your C2W runs like ours then do not forget the final payment at the end of the scheme and have they added VAT to their calculations?

My bike was £800 and pre vat comes out at £550 ish with final paymemt.

I would pop down to some LBS or some friends to see if you can have a go on a drop bar bike before buying one , £900 is a lot of cash to lay out if you do not get on with it.

 

[SquareDaff]

I would pop down to some LBS or some friends to see if you can have a go on a drop bar bike before buying one , £900 is a lot of cash to lay out if you do not get on with it.

Which was why I stuck with a hybrid on our C2W scheme. Have invested in some tri bars to put on over the summer and will see how I get on with those before considering moving to a drop bars bike.

 

[jamin100]

My hybrid was at least 3rd hand when I brought it and it's a bit marked etc. nothing major though.

I think it needs some money spending on it in terms of the wheels are very slightly not true and it needs the brakes and gears servicing. Again it's not stopping me riding it at the minute though so its still perfectly serviceable.

The only way I'd be able to get a bike like this is though c2w or an 0% finance option.

I quite fancy drop bars but like you say part of it is for the shiney oh look at my nice new bike factor.

And I'd go for the cx as I'd want to use panniers for commuting

 

[jamin100]

I was very close on pulling the trigger just.

My gross salary sacrifice would be £75 per month. With tax & ni savings I believe this would bring my payments down to around £53 per month.

Over the 12 months I would of paid £636 against a £900 bike. This obviously doesn't take the final payment into consideration but I haven't quite figured that out yet.

Hmmm

 

[Norm]

Who is running your scheme?

If one of the third party profit makers (cyclescheme etc) are involved, the final payment can be as much as 25% of the cost of the bike, which would be £225 and take your total payments up to £861. Compared to a 10% discount (often) given for cash, you are tying yourself to your employer for at least 12 months and paying £40 extra to get the "benefit" of being in a C2W scheme.

If your employer is running it, then they may have a considerably more beneficial solution.

There are still savings to be had from a C2W scheme, but not (usually) if your employer is using a third party company which is looking to make it's own profits.

 

[jamin100]

It's cycle2work and the voucher can be spent at halfords

So I don't know ?

 

[potsy]

My employers have made noises about possibly starting the scheme up, not sure I'd bother tbh.
Like norm says, I got a 10% discount from my lbs and that's not far off what I'd save on the scheme, and I'd have to go to Halfords

 

[Norm]

The Halfords scheme is one of the better corporate schemes, IMO, probably because they make their profit shifting the units and the service rather than having to screw the employees like cyclescheme does.

Cycle2work also leaves the ownership of the bike with the employer, rather than taking it themselves like cyclescheme does.

Unusually, Halfords does run one of the better C2W schemes, IMO.

 

[jamin100]

So is it worth going for do you think?

I couldn't afford to buy the bike outright, my only option would be a 0% credit card which I'm not keen on.

Is the cx a upgrade from my hybrid? Does spending the money actually make sense.

 

[The Brewer]

I have a Cube peloton race on order through Halfords C2W scheme. £999 bike potentially for £746 including final payment and its interest free.

 

[jamin100]

I have a Cube peloton race on order through Halfords C2W scheme. £999 bike potentially for £746 including final payment and its interest free.

How are you working out the final payment %

 

[The Brewer]

£58 x 12 months = £696
Tax on benefit of kind £50, total cost if bike transferred to employee £746.
Is what I signed up for

 

[Willo]

It's cycle2work and the voucher can be spent at halfords

So I don't know ?

Just in case you didn't know (apologies if you did), you can source other brands via the Halfords C2W, not just those they stock in store. Specialized, Felt, Trek etc. I got an Specialized Allez through the scheme andfound their C2W customer services pretty good and they'll usually tell you in an instant whether they can source certain brands and where from (e.g. delivery only, local bike shops....)

Cycle2Work helpdesk: available at 08450 778850

 

[jamin100]

£58 x 12 months = £696
Tax on benefit of kind £50, total cost if bike transferred to employee £746.
Is what I signed up for

When did you sign up for this?
As I've seen guidance that the final payment is something like 25% of the total cost of the bike. I could be wrong though