Cycle 2 Work Schemes
So my employer is (at last) offering a cycle to work scheme.
Great! An opportunity to replace my winter hack with something shinier.
However, a read of the Ts and Cs reveals that it's in fact a hire scheme, so for a £1000 bike it costs me £513 over 12 months on a hire agreement.
My question is what happens after 12 months!
There's no way I would pay £500 for the privilege of renting a £1000 bike for a year without having some right to title or buying the bike after a year for £100 or some other similar low value.
Why pay £500 rental on a bike when I could buy a good second hand one for that money, except for the benefit of spreading the capital outlay over 12 months, I don't see the point.
Anybody got any experience of what happens in real life at the end of the 12 months? [8|]