Cycle to Work Scheme Made Easy – A Smooth Ride with Velo Bavarian
At Velo Bavarian, we believe the Cycle to Work Scheme (C2W) shouldn’t feel like a complicated roadblock – it’s actually an easy and beneficial way to get you on the saddle while saving you money. If you’ve got questions about how the scheme works, we’re here to help! Come visit us at the shop or give us a call, and we’ll walk you through everything.
We’re proud to accept a wide range of Cycle to Work vouchers, including:
- Cyclescheme
- Green Commute Initiative (www.greencommuteinitiative.uk)
- Halfords Cycle2Work
- NHS/Vivup
- Cycle Solution
- Bike 2 Work
- Workplace Bikes
- Cycleplus
-
Gogeta
If you don't see your voucher on the list, please let us know and we will try our best to accommodate it.
While we’re happy to accept vouchers from any of the providers listed above, there are a few important details you need to know when it comes to using vouchers on sale bikes.
How Cycle to Work Vouchers Work at Velo Bavarian
Each of these providers acts as an independent company administering the scheme on behalf of your employer. For providing this service, they take a commission fee from the face value of your voucher. Here’s how it breaks down:
- Schemes like Cyclescheme take around a 10% commission.
- Halfords Cycle2Work takes 15%.
For example, if you have a voucher worth £1000, we’ll only receive £900 from providers who charge 10%, or £850 from Halfords, who charge 15%.
Purchasing Sale Bikes with Cycle to Work Vouchers
Now, if you’re interested in using a voucher to buy one of our sale bikes, we’re still happy to help – but there are some additional steps due to the commission fees.
If the provider takes a 10% commission, like Cyclescheme, here’s how to calculate the total amount you need to apply for:
- Let’s say the original price of a bike is £2500, but it’s currently discounted to £2000.
- Multiply the £2000 by 1.11 (for a 10% fee) = £2220.
- This is the amount you would need to apply for on your voucher: the original price of £2000 plus the £220 commission.
For providers like Halfords Cycle2Work, who take a 15% commission, here’s the formula:
- For the same £2000 bike, multiply the price by 1.176 = £2352.
- This is the total amount you need to request on your voucher. The provider will take 15% from this amount, which is their commission fee.
In this scenario, we would receive £1999 when your voucher is redeemed, allowing us to cover the commission fees and still offer you the reduced sale price.
No Extra Charges for Full Price Bikes
If you're buying a bike at full retail price (RRP), we absorb the commission fees without any additional charges. No need to worry about extra fees – it’s just the price of the bike as it is.
Setting Up a Cycle to Work Scheme for Your Company
If you’re thinking about setting up a Cycle to Work Scheme for your company, we highly recommend Green Commute Initiative (www.greencommuteinitiative.uk). As a not-for-profit organization focused on green, sustainable transport, they’re an excellent choice for both businesses and employees looking to get on board with the scheme.
We hope this clears up any confusion about how the Cycle to Work Scheme works with us. If you have any further questions, don’t hesitate to get in touch. We’re here to help you ride into a healthier, more sustainable future!
