Author Topic: When your employer isn't on a cycle to work scheme...  (Read 2498 times)

Re: When your employer isn't on a cycle to work scheme...
« Reply #75 on: September 29, 2020, 03:56:36 pm »
Yes, a lot of people do think that.  I think there is an element of passing off in their name.

Re: When your employer isn't on a cycle to work scheme...
« Reply #76 on: September 29, 2020, 07:26:22 pm »
Yes they're basically a finance company. With 10% "interest" paid up-front* on a loan that amortises over a year, with virtually zero risk, plus an additional payment at the end, it's a good little earner.



* ignore the 8.33% quoted in the article, they are only lending the VAT-free amount.
Quote from: tiermat
that's not science, it's semantics.

Re: When your employer isn't on a cycle to work scheme...
« Reply #77 on: September 30, 2020, 03:47:39 pm »
Do they provide the finance to buy the bike nowadays?  I thought that came from the employer.  And that all they did was the (trivial amount of) admin required

robgul

  • Cycle:End-to-End webmaster
  • . . cyclist, Cytech accredited
    • Cycle:End-to-End
Re: When your employer isn't on a cycle to work scheme...
« Reply #78 on: September 30, 2020, 04:42:18 pm »
Do they provide the finance to buy the bike nowadays?  I thought that came from the employer.  And that all they did was the (trivial amount of) admin required

Green Commute has a finance option at (or when I last looked) quite keen rates for the employer to fund the purchase - and their LBS fee is lower too .... was 7% IIRC.

... and Cyclescheme is now owned, IIRC, a US finance/VC/whatever company