My work have just signed up with a cycle to work scheme and will pay up to £1,000 for a bike or parts.
I want a 29er trail bike – 120mm to 140mm travel sort of thing.
My plan at the moment is to get the lower spec On-One Codeine for £1,499 so I’d have to pay £499 and do the balance through the scheme (if that is allowed, but let’s not get bogged down with that just yet…). This plan would get me the bike for £1,150 at the end of 12 months.
So, hive mind, is that my best bet or is there anything that I’ve missed? Anything cheaper or better for similar dosh?

Cheers!

I’m pretty sure you won’t be allowed to top up the £1000 limit.

Let me know if I’m wrong.

Nope – you can’t use the B2W scheme to put £1000 towards a more expensive bike.

End of season / last year’s model and an interest free credit card is pretty much as good as the cycle to work scheme these days

Employees can spend between £0 – £1000. The Financial Conduct Authority has issued a license that permits employers to issue hire agreements up to the value of £1000 in order to run a Cycle To Work Scheme.
If employees wish to purchase items over the £1000 limit they can add their own money to the order, however, this will not form part of their salary sacrifice and therefore they would only make savings on the £1000. All equipment will remain the property of the Employer during the Hire Agreement, regardless if an employee has added their own money.
If a company wishes to allow employees to purchase equipment over the £1000 limit and make savings on the whole amount, they will need a Consumer Credit License from the Financial Conduct Authority. For further information see here

Taken from the website of the scheme we’re signed up with, so looks like I can add my own cash.

You can add your own money. Never had a problem doing it here

Well, I stand corrected.
Not sure how that affects the final “market rate” payment.

It will depend on the shop. I enquired about topping up for an Orange 5. One shop said a flat no, one said maybe, one said yes.

Be aware that On One charge an admin fee. My mate had to pay £100 extra for his Parkwood.

Well, I stand corrected too. Apologies.

Some schemes don’t allow it at all (it’s messy should the employee leave and there be any question over ownership), some do… Obviously you’ll only be saving the NI and tax contributions on the £1k though.

Codeine is a big, heavy, bruiser of a bike though… You were looking at T-129’s which are a fair bit lighter and sharper no?

mboy – I just want a 29er trail bike and anything from Kona Process 111 to Trek Remedy would fit my bill for my riding (tracks that you’re probably familiar with). However, for the kit and keeping the price low the Codeine seems the best bet, hence my question. Am I missing any other options that could fit the bill better in terms of £1,500 or less and with good trail bike kit on it? 2015 Stumpy Evo comes close, but is typically £1,700 in the sales at the moment. And no Pikes!

Have you looked at Pauls cycles? however like a few people,they don’t allow cyclescheme on all their bikes and also take 11%.