Any sale worthy of the name will knock off at least 10%. It’s a nice discount to have if you were going to buy that bike or accessory anyway. When the savings climb to around 25% you might start thinking it’s too good an opportunity to miss. When you can save twice that and pay in instalments, it’s time to bite the retailer’s hand off!
How do you find deals that good? With Cyclescheme. By itself, Cyclescheme saves you 25-39% on the price of a bike and/or equipment and enables you to pay in instalments. So if there’s a bike in a Boxing Day sale that’s 25% off, you could double your savings.
Be careful with your calculations here. It’s easy to assume that, if a bike is 25% off and you would save a further 25% through Cyclescheme, you’d end up saving 50%. You wouldn’t. Let’s assume the bike is £1,000. If it’s 25% off in the Boxing Day sale, that’s £750. Saving 25% through Cyclescheme on a £750 bike isn’t another £250 but £187.50. So the real cost would be £562.50 not £500. You’re saving 25% twice, not 50% once. It’s a fantastic deal nevertheless. You’d be turning a 25% discount into a 43.75% discount, plus you’d be paying in instalments so there would be no post-Christmas bank account pain.
The next thing to consider is logistics: will you have your Cyclescheme certificate ready when the sale is on? If you decide upfront what you’ll be getting and submit an itemised application, possibly not. Deciding upfront works well when you want to know exactly what you’ll get and what it will cost. It doesn’t work so well when you’re trying to take advantage of temporary sales. Someone else might buy that discounted bike you’ve got your eye on before your employer approves your Cyclescheme application. Or the sale could end.
The solution is to request a ‘decide later’ certificate. Instead of itemising what you’ll get with your certificate, adding it all up, and requesting a certificate for that amount – as you would when deciding upfront – you simply pick a value for the certificate. The only thing you decide in advance is your budget. Everything else, such as what you’ll get and where you’ll get it from, you decide later – hence the name.
Deciding later enables you to go bargain hunting. As soon as you see something you like that a Cyclescheme retailer stocks, you can snap it up. Your certificate is valid for 60 days from the date of issue, so it’s easy to make sure it overlaps with sales you know are coming. Keep your eye out for them. As well as the pre- and post-Christmas period – Black Friday, Boxing Day, etc – bike shops often have sales in the autumn, which is when next year’s bikes start to arrive. Happy hunting.
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