Cycle 2 work scheme

Post by **greengiant** » 02 Feb 2017, 20:30

Hurry up voucher, lol!

Post by **greengiant** » 09 Feb 2017, 15:22

I got a letter from HR today, giving me my copy of the cycleplus hire agreement. Nothing to be signed by myself though?

Hopefully it shouldn't be too long now till I get my letter of collection. Or does the 14 day cooling off period start from when I get the copy of the hire agreement contract?

DanielAttleborough · Post by **DanielAttleborough** » 12 Feb 2017, 19:53

I recently became employed by Royal Mail on a 1 year contract (As a postman). I wonder, am I able to apply for the cycle to work scheme ? I am gonna ask my manager in the morning but I saw this forum thread so I thought I would post on here also.

Does anyone have any advice on who to contact or what path to follow (if its even possible for me) to try and get a bike via a scheme?

Seems like a good value scheme to me.

cheers

Deadly · Post by **Deadly** » 06 Mar 2017, 23:21

greengiant wrote:I got a letter from HR today, giving me my copy of the cycleplus hire agreement. Nothing to be signed by myself though?

Hopefully it shouldn't be too long now till I get my letter of collection. Or does the 14 day cooling off period start from when I get the copy of the hire agreement contract?

Did it all go through ok? How long did it take from start to finish?

Postmancat7 · Post by **Postmancat7** » 10 May 2017, 13:05

Just need some help. I applied for the cycle 2 work just over a week ago and still haven't received any paper work so I can go get it. Anybody know how long it takes ?

Post by **midegarelu** » 10 May 2017, 17:11

I did one about 5 years ago. The whole process from applying to picking up a bike took about 4 weeks.

Deadly · Post by **Deadly** » 12 May 2017, 19:52

Four weeks is about right, I've recently done it and my paperwork arrived a day or two after I collected the bike! The deductions from my wage started before I'd received the letter of collection too (by email).

jontickle · Post by **jontickle** » 11 Jul 2017, 14:08

Thinking of getting a bike through this scheme. If i applied for a £300 voucher then saw a bike for £350 can i just make up the cash difference? Likewise if i get a £300 voucher get to the shop and its on sale at £250 am i still obliged to pay back £300 despite the discount on the bike?

persil33 · Post by **persil33** » 18 Jul 2017, 15:54

Some shops will allow you to put money towards the cost of the bike. But if the bike is less you still pay back the 300. But you can also buy things like a helmet or lights if the remaining money

Clared · Post by **Clared** » 22 Jul 2017, 21:35

Just been looking at the bike scheme myself....
Just been reading the black n white stuff. It says `At the end of the hire period, you maybe able to buy the bike at its `fair market value` or simply return the bike.
So are you basically paying dead money just to rent a bike ? Would be easier just to buy a bike out right.

Post by **greengiant** » 24 Jul 2017, 06:10

Clared wrote:Just been looking at the bike scheme myself....
Just been reading the black n white stuff. It says `At the end of the hire period, you maybe able to buy the bike at its `fair market value` or simply return the bike.
So are you basically paying dead money just to rent a bike ? Would be easier just to buy a bike out right.

Has anyone ever had to return the bike at the end of the Cycle to work scheme?

Alexei · Post by **Alexei** » 24 Jul 2017, 21:24

greengiant wrote:
Clared wrote:Just been looking at the bike scheme myself....
Just been reading the black n white stuff. It says `At the end of the hire period, you maybe able to buy the bike at its `fair market value` or simply return the bike.
So are you basically paying dead money just to rent a bike ? Would be easier just to buy a bike out right.
Has anyone ever had to return the bike at the end of the Cycle to work scheme?

I have had two bikes through the cycle to work scheme, and both i paid a final 'termination fee' ( or something along those lines ) which must have been around £20-£30.

It should tell you in your agreement what to do.

Clared · Post by **Clared** » 26 Jul 2017, 14:37

Following from my own post above I have enrolled on the cycle to work deal.
£300 = £3.71 a week for 18 months
It showed the workings out but before I looked it in more details my battery ran flat on my laptop & the information disappeared when I went back on, is there any other addition costs apart from the £3.71 that gets taken out of my wage

Alexei · Post by **Alexei** » 29 Jul 2017, 18:16

Clared wrote:Following from my own post above I have enrolled on the cycle to work deal.
£300 = £3.71 a week for 18 months
It showed the workings out but before I looked it in more details my battery ran flat on my laptop & the information disappeared when I went back on, is there any other addition costs apart from the £3.71 that gets taken out of my wage

No additional cost other than the end of term 'termination fee' or whatever it was called. It's a final price you pay to basically buy the bike. Can't remember how it is worked out, but should probably be around £15.

Additionally, it's a £300 voucher, so if the bike is £250, be sure to get £50 worth of equipment like helmet, lock, lights, mud guards, water bottle, you name it. If running over the £300 allocation, you can put your own money towards.

Flora · Post by **Flora** » 07 Aug 2017, 18:14

I've just had a £300 voucher and bought a bike from Halfords, ordered online and to make up to the £300 I got a bike lock and a cheap kiddies light (so the guys at Halfords upgraded me to adult bike front and bike lights) All I pay is the £3.71 per week.