What happens at the end of the 12 month Hire Agreement?
At the end of the 12 month hire period, staff will be contacted by Cyclescheme and will be offered three options:
- Return the bike to Cyclescheme
- Purchase the bike immediately (which will use up a significant amount of the svaings made through salary sacrifice)
- Own it later - you pay a small refundable deposit (either 3% or 7% of your certificate value) and continue to use the equipment for three years. More information on the end of hire agreement options can be found here