Mountain bike recommendations

Scrug said:
Not when it’s fully paid off.
Click to expand...
Technically (and I'm not saying you're wrong to sell it) they own it and you just loan it from them forever, some folk have been pulled up in the past for scamming the tax man using the scheme.

But anyway, I was being a little mischievous, but I think you'll find that technically you don't legally own the bike. Not that anything would ever come of it. I sold one myself in the same way.
 
ThatFragranceGuy said:
The worst part used to be the 10% they made you pay after a year or two, but I think they've done away with that now and you extend it for another year for a tenner or something and then it's yours.
Click to expand...
Ah fair enough, I may be making mischievous comments that are now out of date.
 
atypical_boro said:
Technically (and I'm not saying you're wrong to sell it) they own it and you just loan it from them forever, some folk have been pulled up in the past for scamming the tax man using the scheme.

But anyway, I was being a little mischievous, but I think you'll find that technically you don't legally own the bike. Not that anything would ever come of it. I sold one myself in the same way.
Click to expand...
I think if he changed employers he would have had to settle it as the terms of these schemes usually tie you to the employer.

Either that or once outside of the loan period depending on when it was taken out, it would have been transferred at that point

When I did mine I owned it after a year with no extra hassle. When I last looked it involved two options, you could pay 10% of the fee to own it or you could extend it for another year for a token sum after which you owned it. But if changing employers not sure how not worked after that point but if still making payments you had to settle it and again, once settled it was owned.

I found it a bit of a con really for people after when I did it - lot of bike shops seem to add 10% admin fee, so by waiting for a sale, using cashback etc most lower rate tax payers could probably beat it especially as they had that 10% fair value payment to make although not all employers chased that up. Better now that you don't have that to contend with

I'd have done it at my employer for my dad but they only use Halfords and I wouldn't have another bike from there
 
atypical_boro said:
You can't get a MTB on cycle-to-work scheme usually, on the premise that cycling to work doesn't usually involve mountains. 😁
Click to expand...
On my work scheme, you can get whatever bike you want up to 5k. Once, that is paid for you can then buy another 😅 The guys that are into their cycling/MTB are loving it as you can imagine.
 
Loop said:
On my work scheme, you can get whatever bike you want up to 5k. Once, that is paid for you can then buy another 😅 The guys that are into their cycling/MTB are loving it as you can imagine.
Click to expand...
Ha fair enough though I think that is pushing the realms of 'cycle-to-work' :ROFLMAO:
 
Acklam_Lad said:
Hi all

My lad is going to secondary school in September and needs a new bike as his is cream crackered


Currently has a small frame Giant with 26in wheels so needs something about the same size

Any recommendations for something that isn’t budget but isn’t too flash to get noticed and stolen on the first day 😂
Click to expand...
Westbrook cycles at Stokesley had a lot of options in when we got my daughters. She got an Orbea who good value bikes.
 
ThatFragranceGuy said:
The worst part used to be the 10% they made you pay after a year or two, but I think they've done away with that now and you extend it for another year for a tenner or something and then it's yours.
Click to expand...
You just choose the option of a permanent hire agreement of £0 per month now once the initial rental is finished. Not even a tenner to pay.
 
You must log in or register to reply here.
Back
Top