My employer has just started offering this, thinking of using it to buy a hybrid/commuting bike. I understand the terms of the offer but trying to figure out exactly what the scheme will cost me each month out of my salary. The monthly costs come out pre deductions so won't pay tax or NI on that part, so does that mean that effectively I'm saving 20% (as a 20%) tax payer or is it not that clear cut? Just trying to work out the exact cost to me as the same bike is priced slightly cheaper in Tredz who alos of 0% finance for 12 months, just trying to wok outt he best deal.

Anyone here with more brain cells than me that can calrify for me?