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Cycle to work

Postal workers discussion forum. Discuss the day to day life in a Blue Shirt.
dohnut
Posts: 658
Joined: 28 Sep 2007, 17:15
Gender: Male

Cycle to work

Post by dohnut »

I have just found out via this forum, that royalmail have increased the cycle to work scheme to £1000.00. Previously it was £500.00 and that was probably adequate for most people but I'm currently in the market for something better so checked the sums on the royalmail site with a borrowing of £900.00 and it gave me these results.

cost after saving £505.95
gross deduction £48.46
net monthly £28.11

I presume the costs after saving amount to the total amount I would pay for my £900.00 'loan'?, and the gross deduction is the amount pre-tax?, and my net monthly is the amount deducted from my wage?. If this is true this looks a great deal buying a £900.00 bike for just over £500.00, or am I missing something?. Im guessing this amount doesnt include the final payment so could someone clarify aprox what that would be thanks.
clashcityrocker
Posts: 16689
Joined: 22 Sep 2009, 13:50
Gender: Male
Location: strummerville

Re: Cycle to work

Post by clashcityrocker »

It is a very good deal.
The final cost is £35 or something close.
(And I'm peed off because I'm still paying for my bike and it got nicked.)
The societies of consumption and squandering of material resources are incompatible with the idea of economic growth and a clean planet.
dohnut
Posts: 658
Joined: 28 Sep 2007, 17:15
Gender: Male

Re: Cycle to work

Post by dohnut »

clashcityrocker wrote:It is a very good deal.
The final cost is £35 or something close.
(And I'm peed off because I'm still paying for my bike and it got nicked.)
Is the final cost not based on the price of the loan?, or is it a 'set' price?. and were do i find out this final cost, dont want to do this and after 12/18 months get a letter saying I can now buy the bike for £400.00.
mandelsons_toenail
Posts: 1294
Joined: 08 Aug 2009, 18:16
Gender: Male
Location: Outer Hebrides

Re: Cycle to work

Post by mandelsons_toenail »

It's £35

Always has been
sharky0308
Posts: 58
Joined: 02 Nov 2010, 18:51
Gender: Male

Re: Cycle to work

Post by sharky0308 »

When can I find out the date my current scheme ends, I'm on my 2nd scheme but for the life of me I can't remember when it started.
mandelsons_toenail
Posts: 1294
Joined: 08 Aug 2009, 18:16
Gender: Male
Location: Outer Hebrides

Re: Cycle to work

Post by mandelsons_toenail »

Hr
sharky0308
Posts: 58
Joined: 02 Nov 2010, 18:51
Gender: Male

Re: Cycle to work

Post by sharky0308 »

I thought it might be that simple.
UnhappyGremlin
Posts: 2685
Joined: 18 May 2012, 20:49
Gender: Male
Location: Hiding

Re: Cycle to work

Post by UnhappyGremlin »

I'd rather not. :Very Happy
Sometimes, I wish I wasn't a Rep.
dohnut
Posts: 658
Joined: 28 Sep 2007, 17:15
Gender: Male

Re: Cycle to work

Post by dohnut »

Right Ive printed this form out and I 'think' I need a managers signature?, also do i give this form to halfords or what when its signed. I want to get this done tommorow or monday as halfords have a deal with 10% off only till monday.
tommytucka
Posts: 34
Joined: 05 May 2010, 16:13
Gender: Male

Re: Cycle to work

Post by tommytucka »

I'm on phase 5 of my cycle to work scheme, also cannot remember when it finishes, put the phone down to hr after being on hold for 30 minutes.