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CycleScheme remove £1,000 price cap

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thing1:
Just found out cycle scheme have totally removed their limit on bike+accessory purchases
https://www.cyclescheme.co.uk/cycle-to-work-scheme-any-price

As they are now the legal "loan provider" of the bikes, they can do this under their own FCA Authorisation loan authorisation without needing each employer to get their own license.

This is great -- back with cycle scheme was launched the £1,000 limit set a pretty nice prices point, but there's been 100% inflation in the intervening 2 decades so on inflation alone if buys you half as much bike as it would have back then.

This is "opt in" for each employer using the scheme, and they're recommended to set their own loan limits. Mine has just started trialing £5,000.

robgul:
.... bear in mind when looking at prices the supplying shop has to give 10% on bikes and 15% on parts/accessories to the Cyclescheme plan (and a higher % to the Halfords scheme) - so don't expect stonking discounts on anything.

That said, I do quite a few deals with most customers being higher rate taxpayers so a pretty good saving for them.

Rob

Pickled Onion:

--- Quote from: robgul on 25 October, 2019, 04:43:56 pm ---.... bear in mind when looking at prices the supplying shop has to give 10% on bikes and 15% on parts/accessories to the Cyclescheme plan (and a higher % to the Halfords scheme) - so don't expect stonking discounts on anything.

That said, I do quite a few deals with most customers being higher rate taxpayers so a pretty good saving for them.

Rob

--- End quote ---

Good point. But it's very worthwhile for bikes like Bromptons where discounts are not possible.

rogerzilla:
How many of these bikes are actually used for commuting, I wonder?

Kim:

--- Quote from: rogerzilla on 28 October, 2019, 10:41:18 am ---How many of these bikes are actually used for commuting, I wonder?

--- End quote ---

I expect most of the Bromptons are.  Likely a good proportion of the e-bikes that will now be possible.

I reckon subsidising weekend warrior MAMILs is probably still worth it from a public health perspective.  The main problem is people buying bikes, trying the commute a few times, deciding that it's horrible, leavign the bike in the shed and switching back to the car or public transport.  I don't think that's a problem that can be solved by changing the way people buy bikes.

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