Looks like our employer is finally joining the 21st century and is unveiling a C2W scheme after Easter.

Anyone know what the final payment at the end of the period is nowadays? Trying to get an idea of the total costs involved. My employer will be strictly following the HMRC rules, seeing as they are part of HMRC!

At the end of the hire period, Cyclescheme will contact employees to discuss the options available.

The most attractive option for employees will be to pay a small, refundable deposit (3% or 7% of the equipment value*) and continue to use the bicycle for an extended period of up to 36 months.

At the end of this period, Cyclescheme will refund the deposit if the employee does not wish to keep the bicycle. No further action or payment is required if they wish to keep the bicycle.

Until they publish the details of their plan, it’ll only be guesswork.

And as a guess you’ll save something between a bit and a bit more 🙂

I think it’s 21% after 12 months but as per Drac’s post the recommendation is to extend to 36 months and then just the smaller percentage (you can still take out a new agreement each year in that time if you wanted more bikes).