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.
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Cycle to work
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clashcityrocker
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Re: Cycle to work
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 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.
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dohnut
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Re: Cycle to work
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.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.)
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mandelsons_toenail
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Re: Cycle to work
It's £35
Always has been
Always has been
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sharky0308
- Posts: 58
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- Gender: Male
Re: Cycle to work
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.
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mandelsons_toenail
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sharky0308
- Posts: 58
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Re: Cycle to work
I thought it might be that simple.
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UnhappyGremlin
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dohnut
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Re: Cycle to work
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.
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tommytucka
- Posts: 34
- Joined: 05 May 2010, 16:13
- Gender: Male
Re: Cycle to work
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.