cyclescheme.co.uk

[Franco5]

I’ve generally bought nearly new bikes but I’m now looking at bike to work.

Combine discounts of 20% - 40% off RRP at the end of season plus cycle to work savings vs a minimum of 50% - 60% off RRP for a year old bike but no warranty buying used.

Can anyone let me know what the typical payments on a £3K bike through cyclescheme.co.uk would be these days please? I am a lower rate tax payer so I should ‘save’ 20% income tax and 8% NI but do they apply any interest and/or end of scheme fees and how long does it take before I own the bike?

[Cats_pyjamas]

You pay for the bike pre tax, so if you buy a bike for £2400. £200/month will be deducted from your pay monthly. The amount you save depends on the money you earn/tax bracket.

Not all shops and schemes are equal.

Some shops charge 'admin' fees, there are plenty that don't, so buy through one of those.

My employer offers the opportunity to repay over 2 years rather than 1 which is great on a £5k bike.

[anonymous-user]

Their calculator :-

https://www.cyclescheme.co.uk/calculator

[Crudeoink]

I got a Ridley Fenix SLiC for 2K a few months back on the cycle scheme. It comes out pretax so a 51% saving means the bike costs me about £81.60/ month

[Franco5]

James6112 said:

Their calculator :-

https://www.cyclescheme.co.uk/calculator

I hadn’t spotted this so thanks.

Looks like I’d save roughly 20% of the already discounted 30% from RRP bike I’ve got my eye on.

[anonymous-user]

Franco5 said:

James6112 said:

Their calculator :-

https://www.cyclescheme.co.uk/calculator

I hadn’t spotted this so thanks.

Looks like I’d save roughly 20% of the already discounted 30% from RRP bike I’ve got my eye on.

Sounds good!

Effectively interest free too..