This means that you can save money on everything you need to cycle to work with the added benefit of getting to spread the cost. It's a no brainer!
The Cycle to Work scheme is one of the best ways to make new bikes and accessories (where RRPs - Recommended Retail Prices - have little to no wiggle room) affordable. However, many of you want to wring even more value out of the scheme by 'saving on sale' - and this article explains just how you can do that.
How to 'save on sale':
You can use Cyclescheme in addition to a promotion, deal or discount being offered at many partner bike retailers. What does this mean in practice? Well let’s say your dream bike is RRP £1000. You find this in a 'save on sale' Cyclescheme retailer for the discounted price of £800; saving £200 vs. RRP. Obtain this bike through the Cycle to Work scheme and the final cost generated through tax savings will be just £600 for a lower rate taxpayer or even less for a higher rate payer. That means you’ve saved at least 40% on the original RRP.
There are three approaches to getting sale bikes with Cyclescheme.
1) Retailers with no quibble sale bikes:
|Cycle Republic||Chain Reaction||Cycle Surgery||Evans|
|Go Outdoors||Ribble||Cycles UK|
The above retailers have committed to honour their price matching guarantees, sale bikes and Black Friday deals on Cyclescheme. Please note, when buying online you may not be able to reserve sale bikes - as such, you need to request a value without attributing it to a retailer (this is easily done when you apply). Once your application is made, your employer will pay for your Cyclescheme request and we will issue you a Certificate. At that point you can choose which sale bike you wish to spend your Certificate's value on.
2) Cyclescheme Offers:
Every month the experts at Cyclescheme bring you the best deals from our partner retailers together in one handy place.
These offers tend to be fast moving (as offers and deals are often fundamentally based on limited amounts of stock) so it's important to move quickly to secure these deals.
3) Negotiate with local retailer:
Some local retailers will also allow you to benefit from sale or offers bikes through the scheme, but this needs to be negotiated with the store itself.
Local retailers often work under tight margins and can struggle to offer 'save on sale', but it's always worth asking. Where a sale price cannot be offered on the scheme, it tends to be best practice for the store to add 10% to the price of the sale item. This means you still get a reduction and the store still preserves their profitability.
We must note though, that the price of the item is set at the discretion of the retailer.
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