To buy or not to buy

ec101

Hey,

I have an interesting problem and am looking for advice. Last year I bought a Giant FCR 2.5 and started using it for my 5km commute to work. I used it to get into work most days and at the weekends I use it for some training in the Phoenix park.

My work has introduced the cycle to work scheme but only on a trial basis. They want to see whether providing the scheme will result in a lot of work for our accounts and admin staff.

So here's my problem do I keep my current bike or do I take this opportunity (it might not come again) to get a new bike?

All the best,

Emmet

Vélo

You're coming on here looking for advice on whether to part with your hard earned cash. We are probably the worst to get advice from so my answer is

YES!!!!!!!

Make sure you get the full use out of it and spend the thousand on a nice road bike.;)

kenmc

keep your current one and get a new one - problem solved!

DirkVoodoo

Having one bike for anyone other than a casual rider is ridiculous. You need bikes for different distances, events (racing vs non-racing), weather conditions, kit choices, terrain, etc.

Ideally your bike garage should be around the 14 mark, though published research seems to differ on the optimum number. I have seen some people say 3 bikes is enough, but they were in budget controlled studies.

thebouldwhacker

If you can afford it (ie you dont need to sell a kidney to afford it) yes, as above keep your old one however I would advocate you get a decent mtb as a second bike and hit the trails:D:D

Ryaner

I got a Giant SCR 1 at xmas through the cycle to work scheme. Already have my new bike picked out for purchase next year. I've to move before then so it'll fit along with the other two

So in short, yes you'll need another bike.

NeilMcEoigheann

buy the sweetest road bike you can buy on the cycle to work scheme and then keep using your old one for the commute. solved.

stuf

Remember you can only use the cycle to work scheme once every 5 years so plan carefully - no need to rush into it

Lumen

stuf wrote: »

Remember you can only use the cycle to work scheme once every 5 years so plan carefully - no need to rush into it

True, but that doesn't account for the chances of the scheme being withdrawn in a budget.

kenmc

Lumen wrote: »

True, but that doesn't account for the chances of the scheme being withdrawn in a budget.

Indeed, expect to see it going down the plughole in December along with everything else in this godforsaken country except the corruption and the rain.

blorg

Lumen wrote: »

True, but that doesn't account for the chances of the scheme being withdrawn in a budget.

I would think that is highly unlikely, it is hardly costing the Revenue a fortune in lost taxes. More likely would be the scheme would be withdrawn in the OPs workplace.

stuf

Lumen wrote: »

True, but that doesn't account for the chances of the scheme being withdrawn in a budget.

As long as the Greens are holding that pile of sh!te that masquerades as a government together then we're safe.

I think there's too many positives in the scheme for any future government to back down from it although nothing surprises me these days

UsedtobePC

blorg wrote: »

I would think that is highly unlikely, it is hardly costing the Revenue a fortune in lost taxes. More likely would be the scheme would be withdrawn in the OPs workplace.

I don't see why the workplace would want to get rid of it unless they make a dog's dinner out of the admin process since they can get the PRSI back on top of the reimbursement from the employee so everybody's happy.

Oh yeah, in order to stay in line with the OP's topic: ABSOLUTELY YES! BUY! BUY! BUY!

ednwireland

looks like i'm not getting the btw
company cant afford to buy the bikes in the first place
just about managing to pay the wages each month
so no discount for me

stuf

ednwireland wrote: »

looks like i'm not getting the btw
company cant afford to buy the bikes in the first place
just about managing to pay the wages each month
so no discount for me

what about getting all the cost taken from one month's wages and then getting a loan to pay for it over the year. With interest rates so low then it should work out to your advantage and the work actually saves a few bob in PRSI

blorg

I think it is a cashflow problem? Many places are doing it with the full amount taken out of the next paycheck but the employer still needs to buy the bike first- not sure that it is possible to make the salary sacrifice _before_ the bike is bought. Maybe if they were able to get the bike on credit from the supplier, and then take the full amount out of your paycheck before they pay the supplier?

ednwireland

stuf wrote: »

what about getting all the cost taken from one month's wages and then getting a loan to pay for it over the year. With interest rates so low then it should work out to your advantage and the work actually saves a few bob in PRSI

got the money sitting there pretty much just wanted the discount, tried explaining the prsi savings but we dont have a full time acccounts / wages person so no-ones interested in sorting it out (or thinking about it for that matter) (joys of small companies)
just too much hassle to think about it mainly i think, considering they are worrying about the wages and running the company i can appreciate that.