If the deductions for the bike are taken from your gross (before tax) pay, once your hire period has come to an end, the Cycle2Work team will get in touch to discuss your options. This will include the opportunity to extend the hire of the cycle at no additional cost until HMRC deem the value to be negligible. This is typically 4 or 5 years, and once this agreement has finished, you will become the rightful owner!
If the deductions for the bike are taken from your net (after tax) pay, you are the rightful owner of the bike from the start of the hire period.