I don't think the cycle to work scheme has had any effect on prices or very little its been other factors like the pandemic and the Ukraine war that has caused a good chunk of world inflation. Bike prices are starting to come down now as bike demand drops.There is a brand new bike for sale at the moment I like. If I buy it, it will be delivered to me from Tredz. The seller has bought it using the cycle to work scheme and is selling it before it’s been delivered.
He says I will be the first registered owner if its delivered to me, but surely not if he’s bought with a huge discount on a government scheme?
Its a L too so I need to go to evans to check sizing.
Its the same with anything “eco” in this country. External wall insulation doubled in price overnight when government grants were launched. Air source heat pumps cost 3 times what they did when they were launched 10 years ago. I’m guessing this cycle to work scheme is behind a lot of the bike price increases.
the bike bought on cycle to work scheme belongs to the scheme provider. If your vendor leaves his present employment, you have technically bought a bike that does not belong to him.There is a brand new bike for sale at the moment I like. If I buy it, it will be delivered to me from Tredz. The seller has bought it using the cycle to work scheme and is selling it before it’s been delivered.
Really? I need to look into that.the bike bought on cycle to work scheme belongs to the scheme provider. If your vendor leaves his present employment, you have technically bought a bike that does not belong to him.
I agree 100%.I don't think the cycle to work scheme has had any effect on prices or very little its been other factors like the pandemic and the Ukraine war that has caused a good chunk of world inflation. Bike prices are starting to come down now as bike demand drops.
The Cycle to work scheme is another moronic scheme by the government often abused as per your example. The point is you can buy that bike and just let the original buyer deal with any issues with the scheme but he probably won't have any so for him it's a way of making a quick profit.
The scheme should have been a simple scheme to get those on low wages or benefits a refurbished bicycle from their local bike shop for free or heavily subsidised which doesn't fuel imports or cost tax payers too much but gets people cycling. Instead its an overly generous scheme where people buy additional bikes using the scheme back to back and often don't commute with their new bikes at all. Often they buy bikes not even suitable for commuting, high value performance road bikes that most owners would not like to lock up at work. It's just another way the government adds hugely to our national debt and interest payments. Utterly clueless people. However if such a bike came my way heavily subsidised I'd definitely buy it.
the bike is leased (usually 12 month lease) to the staff, the rent is called 'salary sacrifice' and deducted from his pay packet. At the end of the lease, the scheme provider sells the bike for a small amount called 'final payment'. The bike then belongs to the staff who can sell it anyway he sees fit. However, it's not his to sell until after the final payment.Really? I need to look into that.
I think the seller is genuine. Bikes at reduced prices must be selling now because the colour I wanted has gone.
£700.The Bosch Gen 4 set costs about £1500
The important bit is would they try to reclaim the bike from the new owner or just prosecute the person who obtained the bike on the scheme. I can't see anything happening to the person who bought the bike or any attempt to reclaim that property. If you buy stuff on a credit card, sell it for money and then don't pay the credit card off and end up bankrupt that property isn't reclaimed. It's not receiving stolen property in law as far as I understand it. A huge amount of people are facing bankruptcy at the moment does that mean goods sold on ebay no longer belong to the buyers?the bike is leased (usually 12 month lease) to the staff, the rent is called 'salary sacrifice' and deducted from his pay packet. At the end of the lease, the scheme provider sells the bike for a small amount called 'final payment'. The bike then belongs to the staff who can sell it anyway he sees fit. However, it's not his to sell until after the final payment.
The process is similar to a normal hire purchase contract for cars.
the contract you have with the credit card companies is very different from the cycle to work scheme. Goods you buy with your credit card belong to you who pay the invoices, bikes you obtain on the cycle to work schemes belong to who pays the invoice, that is the scheme provider.If you buy stuff on a credit card, sell it for money and then don't pay the credit card off and end up bankrupt that property isn't reclaimed. It's not receiving stolen property in law as far as I understand it. A huge amount of people are facing bankruptcy at the moment does that mean goods sold on ebay no longer belong to the buyers?