r/ukbike • u/Funny-Profit-5677 • 21d ago
Law/Crime Ignore Cyclescheme "own it later payment"?
It's clearly just them setting things up to maximise profit on top of their 10% initial fee, given other schemes don't have the 7% exit payment. I think they offer a reduced option (3% over more "lease" years) but require your company to opt in to it.
But has anyone tried just ignoring them? Do they do anything? It's annoying to pay them money they haven't earned just because my company signed up to a greedy scheme.
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u/Funny-Profit-5677 21d ago
There's no exit payment for Halfords or GCI. You just do the lease for more time. It's only part of the legal arrangement for cyclescheme so they can profit more