What is the timeframe involved?
Voucher applications can take up to three weeks from the date of the application
What is the payback period?
12 or 24 months with a monthly salary sacrifice if contract of employment outlasts the hire agreement period
What happens at the end of the hire agreement period?
If you choose to keep the bike at the end of the hire agreement, there will be a residual fee to pay towards the bike that would need to be paid over to the Cyclescheme.
If you choose not to buy the bike you will have to return it to Cyclescheme.
At the time of applying for the hire agreement, you can decide what happen at the end of it.
How many times a week to I have to use the bike for work?
There is no requirement for you to cycle to work for a specified number of days throughout the year and there is no special requirement for you to record your trips. You can also use the bike for leisure at weekends and on holiday, although a bike purchased under Cyclescheme should be used for at least part of 50% of the trips you do to work.
Is it my responsibility to insure my bike?
Yes, it is very important to insure the bike (and any goods fitted to the bike) to safeguard against the losses following theft.
What happens if the bike gets stolen before I've paid for it?
It will still be down to you to complete the full payment even if you no longer possess the bike.