Thorin Posted March 10, 2011 Share Posted March 10, 2011 I apparently can get a bike "heavily discounted" (that remains to be seen) through work's bike to work scheme. I've absolutely no intention of biking to work on it, but want one for just biking round the local woods etc. I'm after a "hardtail" and certainly no more than £500. Specialized any good? Specifically this one I'm thinking http://www.specializedconceptstore.co.uk/Detail/9/hardrock/2010%20HARDROCK%20SPORT%20DISC Quote Link to comment Share on other sites More sharing options...
Nic Posted March 10, 2011 Share Posted March 10, 2011 Contact Neil-NA he works in a bike shop and will be able help with advice. Specialized is one of the oldest US mountain bike brands, usually good quality. http://www.mkivsupra.net/vbb/showthread.php?210816-Biker-boys-Cyclists Quote Link to comment Share on other sites More sharing options...
jackso11 Posted March 10, 2011 Share Posted March 10, 2011 I have a Dr.Jekyll Identiti, total cost has been about £1300-1400 since I have upgraded parts. It is currently a single speed but could be made back into a 18/21 easy enough. Amazing bike, I love it, but never get a chance to ride it so was going to ebay it. If you like it you can make me an offer via PM Quote Link to comment Share on other sites More sharing options...
shima60 Posted March 10, 2011 Share Posted March 10, 2011 Try ebay for some Norco's or DMR's i've ridden both and they are really good. DMR was a bit on the heavy side but took a massive beating. Edit - although is this a jump bike style or XC? Quote Link to comment Share on other sites More sharing options...
Soop Dogg Posted March 10, 2011 Share Posted March 10, 2011 Be sure of the cost before you enter into this. HMRC (in their wisdom) have, since the latter part of 2010 made the cost to the employee significantly more expensive. When I bought a bike through the Cycle2Work scheme, I got a £1,000 bike, for which you could have paid (net) only £587 (12 installments of £83.33 Gross which works out at 12 x £48.94 net) Then at the end of the 12 month hire period, you could purchase the bike for 5% of it's original purchase price, or £50 - basically another monthly payment, bringing the total cost up to £637, saving £363. However, HMRC have decided that bikes should be worth more (much more!) than 5% at the end of 12 months. They reckon that they should be worth up to 25% of the original purchase price, so in the above example, £250. This would make the total cost of the bike £837, saving only £163 on the original price. If you don't mind buying a new bike, but last year's model, you'll find that places like Evans Cycles and Pauls Cycles will discount these in many cases, more than you'd save by buying it on the Cycle2Work scheme. Get it on an interest free card, and you'll also avoid the risks of having to repay the cost of the bike in full, immediately in the event of you leaving the company or being made redundant. (If this happens, you're no longer eligible to remain in the scheme and either have to buy the bike at the full cost there and then or give it back to the employer, losing your investment in it to date) In my case, because I work for a charity, we weren't able to recover the VAT on the cost of the bike. The new rules would have made it even less attractive to me. As it was, I actually had to pay £690 over 12 months for my £1K bike plus £50 payment at the end meaning that I saved £260 on the original purchase price. If they'd added £250 residual costs onto that figure instead of £50, I'd only have saved £60! I reckon I could have talked a bike shop into a £60 discount anyway and avoided the risks that come with the scheme and not owning the bike until the end of the 12 month period. In a nutshell, do your homework before making the commitment! Quote Link to comment Share on other sites More sharing options...
Thorin Posted March 10, 2011 Author Share Posted March 10, 2011 Be sure of the cost before you enter into this. HMRC (in their wisdom) have, since the latter part of 2010 made the cost to the employee significantly more expensive. When I bought a bike through the Cycle2Work scheme, I got a £1,000 bike, for which you could have paid (net) only £587 (12 installments of £83.33 Gross which works out at 12 x £48.94 net) Then at the end of the 12 month hire period, you could purchase the bike for 5% of it's original purchase price, or £50 - basically another monthly payment, bringing the total cost up to £637, saving £363. However, HMRC have decided that bikes should be worth more (much more!) than 5% at the end of 12 months. They reckon that they should be worth up to 25% of the original purchase price, so in the above example, £250. This would make the total cost of the bike £837, saving only £163 on the original price. If you don't mind buying a new bike, but last year's model, you'll find that places like Evans Cycles and Pauls Cycles will discount these in many cases, more than you'd save by buying it on the Cycle2Work scheme. Get it on an interest free card, and you'll also avoid the risks of having to repay the cost of the bike in full, immediately in the event of you leaving the company or being made redundant. (If this happens, you're no longer eligible to remain in the scheme and either have to buy the bike at the full cost there and then or give it back to the employer, losing your investment in it to date) In my case, because I work for a charity, we weren't able to recover the VAT on the cost of the bike. The new rules would have made it even less attractive to me. As it was, I actually had to pay £690 over 12 months for my £1K bike plus £50 payment at the end meaning that I saved £260 on the original purchase price. If they'd added £250 residual costs onto that figure instead of £50, I'd only have saved £60! I reckon I could have talked a bike shop into a £60 discount anyway and avoided the risks that come with the scheme and not owning the bike until the end of the 12 month period. In a nutshell, do your homework before making the commitment! Good advice indeed. Apparently at the end of the scheme, "Your employer has the opportunity to sell the bicycle and equipment at the end of the scheme at fair market value." but the company have stated that no further payment will be requested at the end of the scheme. So pretty good I guess! Quote Link to comment Share on other sites More sharing options...
Nic Posted March 10, 2011 Share Posted March 10, 2011 but the company have stated that no further payment will be requested at the end of the scheme. So pretty good I guess! I'd make sure that was in writing. Good advice to go for previous seasons model, there'll be little to chose between them but could save you a fair amount. What sort of riding are you going to be doing? Proper off-road stuff, hills, rocks, etc. or just paths and roads? Quote Link to comment Share on other sites More sharing options...
Soop Dogg Posted March 10, 2011 Share Posted March 10, 2011 Good advice indeed. Apparently at the end of the scheme, "Your employer has the opportunity to sell the bicycle and equipment at the end of the scheme at fair market value." but the company have stated that no further payment will be requested at the end of the scheme. So pretty good I guess! Be very wary of such a claim about no payment at the end of the scheme. If you don't pay anything at the end, getting the bike 'for free' (remember you only 'hire' it for the 12 months - you're not purchasing it during that time) is a benefit in kind for which the HMRC could then charge you tax & NIC's, then - hey presto - you've lost any saving you may have made in the first place. Quote Link to comment Share on other sites More sharing options...
RobSheffield Posted March 10, 2011 Share Posted March 10, 2011 Oh great. I was going to get into this myself. New job near to a massive free car park with not much parking at work, so i figured bike on ride to work and jobs a good un. Apparently not then Quote Link to comment Share on other sites More sharing options...
Thorin Posted March 10, 2011 Author Share Posted March 10, 2011 I'm beginning to think it's just not worth bothering. Quote Link to comment Share on other sites More sharing options...
fizzle Posted March 10, 2011 Share Posted March 10, 2011 your pretty safe with a specialized.. could also look at Marin and Kona also do good bikes in the price range.. Quote Link to comment Share on other sites More sharing options...
Soop Dogg Posted March 10, 2011 Share Posted March 10, 2011 I'm beginning to think it's just not worth bothering. Well - not entirely. Some companies run the scheme over much longer periods - you pay for 12 months, but the scheme runs for much longer. As time goes on, the 2nd hand value of the bike falls to the point where you pay almost nothing for it. (Some schemes can now be 6 years to get around the new rules!) I'd find out all I can about the latest schemes before either signing up or writing it off. Having done it myself, and because I do actually use a bike now to get to work every day, I'd say I'd ride to work even if I had to pay full price for my bike now. The increase in fitness levels and my general feeling of being healthy nowadays is worth every penny. Getting through the first few months of trying to get some fitness was the worst - this year I'm thinking of getting my racing licence again - first time in about 23 years! Quote Link to comment Share on other sites More sharing options...
DMY23 Posted March 10, 2011 Share Posted March 10, 2011 I had a trek 4300, was a brilliant bike, front and rear disc brakes, nice chunky tires for offroad. Was the only bike out of the many i have ridden/owned that took the abuse i threw at it, never even had a buckled wheel. Was comfortable as well. Was only £400-450 from memory, was a bargain. Quote Link to comment Share on other sites More sharing options...
Soop Dogg Posted March 10, 2011 Share Posted March 10, 2011 Here's a pretty good bargain...down to £499.95 from £750 - March special. http://www.paulscycles.co.uk/products.php?plid=m1b4s2p2288 There are many 2nd hand bargains out there though. I got the wife a one year old Trek 6700 for £600 last year. (£1250 new) Quote Link to comment Share on other sites More sharing options...
Shadow Beast Posted March 10, 2011 Share Posted March 10, 2011 I had a trek 4300, was a brilliant bike, front and rear disc brakes, nice chunky tires for offroad. Was the only bike out of the many i have ridden/owned that took the abuse i threw at it, never even had a buckled wheel. Was comfortable as well. Was only £400-450 from memory, was a bargain. I've got the same bike, had it about 6 months and have given it a really hard time over winter and its not let me down once, I would recommend this bike as a starter for sure. Quote Link to comment Share on other sites More sharing options...
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