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So want to get a bike on the cycle to work sceame but 2 bike hope iv contacted want to add a 10% administration fee. Is this just them trying to claw money out of us or a genuine covering of costs?
The scheme providers take a cut of the cost so shops lose out on their margin. This is just the shop trying to claw that back. They are usually willing to take the cut but not if you're also looking at a sale item.
I was speaking to one of the guys in my lbs and the cycle scheme take 10% of the sale.
And Halfords take 15%
You don't necessarily have to use a scheme provider. Your employer can just pay the bike shop directly, and deduct the appropriate amount from your salary. So that would avoid any extra admin fees.
Cycle gear/uk bikesdepot applied this to one I got of them, they said it was because it was reduced in the sale.
I still went with them anyway as it was still cheaper than anywhere else.
At the end of 12 months (£475 RRP bike), Cycle Solutions asked my missus for £79 to own the bike!
I phoned up with my angry head on and they said "ok, tell her to pay £12.50 and it's hers ..."
They were right the first time. C2W isn't meant to be buying in installments, it's a hire scheme really, and at the end of the period the bike is meant to be sold for a "fair market value".
There's lots of fiddling about to try to avoid that bit of it.
Trademark - that's how it works. The 79 quid would have transferred ownership, the 12.50 extends the 'hire' period for another 3 years, by which time the bike is deemed as pretty worthless, and so nowt happens. Technically you never really own it unless you pay the £79.
As long as all these places charging 10% extra to cover the cost don't exclude sale bikes, as some shops do.