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Cycle to work scheme?

windhoek Avatar
6y, 6m agoPosted 6 years, 6 months ago
I've been reading about the cycle to work scheme and it mentions that at the end of the hire period, I'd be eligible to buy the bike at a fair market price. What does this mean? Has anyone done this?
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windhoek Avatar
6y, 6m agoPosted 6 years, 6 months ago
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#1
I know if I buy a bike via C2W that costs £500, I'll save between 40-60%, but how much should I expect to pay for it at the end of the 'hire period'?
#2
i wouldn't buy it personally - not after the hiring period... just give it abck and start again with a new one :)
#3
arcangel111
i wouldn't buy it personally - not after the hiring period... just give it abck and start again with a new one :)


mmm, does that mean that I'm basically renting a bike?

EDIT: If that's the case, I'm not sure I want to get a bike via C2W.
#4
i thought that was the point ? cheaper than buying it outright...??
not done it myself as i work 30 miles from my house.. but if you're in a hiring period don't you give it back at the end??
#5
the fair market share is usually 5% - it's a brilliant scheme and well worth it - i got a nice new shiny bike!!
#6
yeah, it's around 5% of the cost of the bike when you buy it. A bargain really.

Shame NHS Grampian ditched the scheme for now
#7
Yep its 5%, just waiting for my letter of contract to come through then I can go get my shiny new bike.

As a guide I've asked for £460 worth of bike and accesories. I will lose approx £20 a month from my net pay over 18 months, then a 5% contribution to keep the bike, so a total of £383. The bike should then still be worth a couple of hundred quid so well worth making the extra payment at the end to keep it, stick it on the 'bay and start again with another brand new shiny bike.

I'm a little bit excited!
#8
Thanks for the 5% info, I was worried that after making contributions for 12 months, they'd want me to pay £100-£200 to keep it. I've told my employers about the scheme and am waiting to hear from them.

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