The full detail:

Year 1:

Year 2:

Year 3:

End of year 3:

The choice of either returning the E-Bike and E-Warrior to BikeAway and having the 2x £250 deposits refunded (providing the E-Bike has had a third annual service and there is no major damage to either the E-Bike or E-Warrior –  again this is at the discretion of BikeAway Ltd) or the employee and employer choose to keep the E-Bike and E-Warrior and in return forfeit both £250 deposits as final payment to BikeAway

Year 3:

Benefits for the employer:

It is a great deal for the employer they will actually pay £8.33 a week once the VAT has been deducted.  For this they will have a healthier, happier and more reliable member for their team. Cycling back and forth from work each day will increase the employees heart rate and oxygen into their blood, keeping them far healthier than using a car or sitting on a bus or train. It is well documented that exercise improves working output, with many companies using wake and shake or other exercise in the morning to help motivate their staff  – cycling to work means they will be doing this in their own time.  With morning exercise, productivity in the first 3 hours of the day can increase by up to 20%. For an employee paid living wage, this could equate to increased productivity worth £26 per week which is only costing the employer £8.33.

To be successful, it is important that the employee ‘buys into’ the Cycle to Work scheme rather than the employer fully financing it – and employee is much more likely to use the e-bike regularly if they are paying towards it.  Everyone wins; the cyclist has become fitter, healthier and happier – and has saved money by not using a car or public transport; it has been profitable for the employer; and the environmental benefit of commuting on a solar powered E-Bike producing no CO2 is the icing on the cake.