Cycle Scheme working out more expensive?

Nick1881

Nick1881

Nick1881

Soldato
Joined
4 Feb 2007
Posts
9,849
Location
Nuneaton, UK
Does anyone know about Cycle Scheme or has anyone else done it?

I signed up last year after reading how much cheaper it can be with big savings.

I got a voucher for £1000 last year and bought a bike for actually a little over and paid the extra myself. I have paid £83.33 per month since May 13 to April 14, giving a total just a few pence off £1000. I thought it was all done and dusted. Now they have said I have 3 options.

Option 1 - Pay £70 for 36 months hire, then the bike goes back.
Option 2 - Pay £250 and the bike is mine.
Option 3 - Send the bike back at my cost.

This is not how I understood it working, it's costing me more than £1000 or I end up with nothing.

Is it just me or has something gone wrong somewhere? :confused:
 
Last edited:
Option 1 - Cyclescheme's Extended Use Agreement
Pay a small, one-off, refundable deposit of £70.00, maximising your savings. You will be able to continue to use the bicycle for an extended period of up to 36 months. There are no monthly rental payments during this period and you can participate in the scheme again if you wish.
At the end of this period, if you do not wish to keep the bicycle, then we will refund the deposit in full. Cyclescheme may at its discretion, offer ownership of the bicycle to you at this point and no further action or payment will be required if you wish to keep the bicycle.
Click to expand...

Could be good unless they decide the take the bike back afterwards.

I can't actually use the bike for work as my job is field service, most jobs are at least 100 miles away and I have to carry tools. The scheme doesn't stipulate that you have to actually cycle to work, I just use it for leisure.
 
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