Buy now – sale must end. You’ll have seen the signs in shops, particularly after Christmas. There are tempting savings to be had but only for a limited period. Cyclescheme isn’t like that. With Cyclescheme, you can save money on a bike and equipment at any time year, and you can do so again and again.
Why would you want to? Short answer: why wouldn’t you? It’s a killer deal. You’ll save 25-39% and spread the cost. Longer answer: because it’ll make your cycle commuting experience better. If you used your first Cyclescheme certificate for a bike, you could use your second for equipment such as luggage, lighting, locks, and clothing. Or you might want a second bike – a folder for taking on the train, perhaps, or a road bike as a summer alternative to your practical but slower-paced hybrid.
Cyclescheme processes applications year round, so your second (or third, or fourth…) can be submitted when you wish. There are three provisos.
- Does your employer use an application window? If so, you’ll be given a specific period within which to apply for your Cyclescheme certificate. Miss it and you’ll need to wait for the next window, which will likely be in the following financial year. Employers do this for convenience: it enables them to process all employee applications together. Check with your employer to see if this applies to you. Many employers process applications year round – in which case, what are you waiting for?
- Are you still making salary sacrifice payments? These are the deductions your employer takes from your gross salary, usually over a period of 12 months. When the salary sacrifice period is over, you can apply again. If, as most Cyclescheme participants do, you take out an extended use agreement, you won’t formally take ownership of the bike/equipment for another three years. That doesn’t matter. It’s the salary sacrifice period that’s key. Most people taking a second bite of the Cyclescheme cherry do so sequentially, getting something in year one, something else in year two, and so on. But it’s not the only way…
- What’s your salary sacrifice limit? You’re not restricted to one Cyclescheme package at one time. You can apply for second while you’re still making salary sacrifice payments on the first. The caveat is that the combined salary sacrifice amount can’t be higher than your salary sacrifice limit. Most commonly, this limit is £1,000. If your first Cyclescheme certificate was for the maximum amount, that’s your lot; you’ll have to wait until you finish making salary sacrifice payments before you can reapply. If your first certificate was for less than the maximum, you can apply for a second, concurrent certificate so long as it doesn’t take you over your limit. So, for example, if you’re making salary sacrifice payments on a £500 bike but your limit is £1,000, you could apply right now for another £500 certificate to spend on equipment – or a second bike.
We're finishing the year in style with this fantastic competition with Ribble. You could be the proud owner of a Ribble Endurance AL Shimano Tiagra in our latest giveaway.
Bike shop bargains on Boxing Day, or in any other sale, are even better if you combine them with Cyclescheme.
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