Has Anyone Set Up and Run a Cycle-to-Work Scheme?

[dubhghall]

I dont suppose you can pay extra, say £1000 on cycletowork scheme, then pay an additional £500 for an upgrade (obviously cycletowork wont cover this proportion)

Yes! The shop can make the paperwork out for the £1k and you can pay them the difference - they called it a deposit in my case. The voucher comes for £1k. This may be a bike shop "favour" though, I certainly haven't read it in the Cycle Scheme bumf. I did on my last bike and a colleague did a couple of weeks ago. In my experience the bike shops will bend over backwards to get a sale and are quite happy to oblige.

 

[DanPrice]

O, great.

Thanks dubhghall and therams for the info.

Ill definatly get on to my boss Monday morning, hopefully get my upgrade cheaper than i expected

 

[Muscleflex]

first time poster...
yeah - most bike shops running the scheme should be able to accept money with the voucher.
i'm doing the same and the bike shop we went said i could just add extra to the voucher if i wanted to.

anyone know how long voucher take to arrive after you've received your hire agreement?

Yes! The shop can make the paperwork out for the £1k and you can pay them the difference - they called it a deposit in my case. The voucher comes for £1k. This may be a bike shop "favour" though, I certainly haven't read it in the Cycle Scheme bumf. I did on my last bike and a colleague did a couple of weeks ago. In my experience the bike shops will bend over backwards to get a sale and are quite happy to oblige.

 

[dubhghall]

first time poster...
anyone know how long voucher take to arrive after you've received your hire agreement?

I would guess that it depends which scheme and how busy they are. Cyclescheme Ltd have been very fast with us. The voucher is sent as soon as payment has been received (from us, the company).

 

[killiekosmos]

My employer set up the scheme 6 months ago. We use a LBS and they do most of the work. Finance colleagues get involved in payinmg for bike up front, setting up salary sacrafice and VAT.

 

[Greenbank]

Yes! The shop can make the paperwork out for the £1k and you can pay them the difference - they called it a deposit in my case. The voucher comes for £1k. This may be a bike shop "favour" though, I certainly haven't read it in the Cycle Scheme bumf. I did on my last bike and a colleague did a couple of weeks ago. In my experience the bike shops will bend over backwards to get a sale and are quite happy to oblige.

Depends on the scheme.

A voucher from Cyclescheme can be used to part pay for a bike, so you can top up with cash.

The £1000 limit only applies if your company doesn't have a Consumer Credit License for a higher amount (CCLs are not required for finance up to £1000). The company I work for has a CCL for £1500 and so that's how much I got a cyclescheme voucher for.

I then paid more money on top of this. On the credit card so it wasn't a cash-in-hand on the sly deal. My receipts and documentation all have the full cost of the bike on them.

As for timing, I emailed back the hire agreement (scanning and emailing it saved it waiting 2 days in the post) and 7 days later I got my voucher. I could have walked out of the bike shop with my bike the day I went in (without any warning) as they had it in stock in my size (and optional setup) but I didn't have my cycling stuff with me, or the computer and pedals I was going to fit.

There are other version of the scheme (not run by Cyclescheme) where you cannot top up the payment. However, I'm sure you'd be able to find a bike shop that will accept cash-in-hand deal on top and write the appropriate numbers/items on the receipts.

 

[Muscleflex]

^^ thanks. are you supposed to email the hire agreement back to cyclescheme? we were only emailed this:
Dear xxx xxx,
Your employer has reviewed your application for participation in the scheme and has approved your request.
Please use the below link to download your fully executed Hire Agreement, which has been electronically signed by your employer.
Your hire agreement

link here

 

[Greenbank]

Then you're fine. I had to sign the hire agreement and either send it back to them, or scan it and email it. They then wait a statutory 7 days "cooling off" period, and then send you the voucher. You then take the voucher into the shop.

That's how it worked for me anyway with Cyclescheme.

I hadn't had any conversation with the bike shop before I walked in with my voucher. Most people go in and sort something out whilst they wait for the voucher to come through.

Reminds me, I should book it in for its free 4-6 week service soon...

 

[Muscleflex]

^^ i thought the cooling off period is after you've received your bike... you can return the bike and cancel the whole thing...

 

[Greenbank]

^^ i thought the cooling off period is after you've received your bike... you can return the bike and cancel the whole thing...

No, it's standard practice with a finance agreement to allow you to change your mind before you get the goods. It's there to counter any heavy-handed sales tactics that may have made you sign up for something you later (within a week) decide you don't really want.

Once you've got the bike you can't use it for 6 days and then change your mind and expect to be able to give it back to the shop and get your money back.

 

[MancRider78]

My work has just come up with a scheme where they provide a cash advance upto £500 anf then they take back the money lent over the next ten months. Sounds like we could be getting stiffed here a little

 

[Muscleflex]

does the voucher come from cyclescheme themselves or it comes from your finance department?

 

[fossyant]

Comes direct from cyclescheme, once your finance dept. has paid the bill.

 

[Muscleflex]

^^ thanks - the company paid off the invoice last friday so i'm just wondering how long i should wait for the voucher to come as i've already seen the bike £50 cheaper somewhere else!!! but apparently the shop cannot price match bikes on the cycle scheme! :-(

 

[stevevw]

Can any of you who have set up a scheme point me in the direction of the agreement forms or examples of.

If the company run the scheme and not a 3rd party I presume that the company get a price for the employee's chosen bike/bikes from the retailer, then once all is agreed pay the invoice direct. No waiting for vouchers etc.