When the Hire Agreement and salary sacrifice ends, you can keep your CycleScheme Package by making a final payment for just a small amount.
For a CycleScheme package under £500, you'll pay 3% of the original value; for a package over £500, it's 7% - so a maximum of £70 on a £1,000 package. The bike remains 'hired' for a further 36 months, but with no more monthly payments. Ownership can then officially be transferred to you at no extra cost.
This method of transferring ownership is why you save a minimum of 25% rather than a minimum of 32%. Many CycleScheme participants will save more.
For a personalised savings figure, visit the CycleScheme calculator and enter your details.