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Old 04-13-09, 09:18 AM
  #14  
tassinari
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Join Date: Mar 2009
Location: Plymouth,UK
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Bikes: Muirwoods 29er

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Originally Posted by dobbyboy
Hi

Is this cycle scheme really worth it i'm debating over it over 0% finance i work for NHS and a lot of people havent bothered as they earn under 25k and say its a con?.
No, its absolutely not a con. Much as it pains me to say it I think its a genuine attempt by the government to get people out of their cars.

You pay for the bike over 12 months and pay in monthly instalments. There is no interest to pay. The money is taken direct from your pay, but before tax and national insurance,so you save whatever % you pay in income tax and national insurance.

It's true that if you earn loads of money and pay tax in the 40% tax band you would save more, which seems a bit perverse, however I am very much an advocate for the scheme and I think as many people as possible should take advantage whilst its still available.

I'd encourage you to check it out!
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