What about my lease bike after I leave the company?
Are you leaving your employer and wondering what will happen to your lease bike? Whether you resign or are made redundant, your lease contract does not automatically end. The lease simply continues. But what does that mean in practice, and what are your options? We’ll explain below.
How high is the early termination fee?
Important to know: if you leave your employer, the lease contract will not be terminated automatically. If you end the bike lease early, you usually have to pay an early termination fee.
The amount depends on two factors:
- The remaining term of your contract – the longer the contract still runs, the higher the fee.
- The monthly lease price – which includes both the cost of the bike and additional services such as maintenance and insurance.
Check with your HR department to find out the exact fee in your case. Cyclobility offers extra flexibility in the last quarter of the lease term: no termination fee will be charged during these months, meaning you can end the contract free of charge.
Can I take over my lease bike privately after leaving?
Yes, in many cases you can buy your lease bike after dismissal. The purchase price is based on the residual value of the bike and the depreciation already covered. Often, this turns out to be more affordable than buying a new bike.
How does it work?
- Your employer or the leasing company will offer you a takeover price.
- If you agree, the bike officially becomes your property.
Want to know how much your bike will cost to take over? Request a takeover offer
Can I transfer the lease to a new employer?
In some cases, yes. You may be able to transfer your existing lease to your new employer. It depends on the cooperation between your current leasing company and your new employer.
What are the conditions?
- Agreement from both employers, both your current and new employer must agree to the transfer.
- Same leasing company, if your new employer works with the same leasing company, transfer is easier.
What if a transfer is not possible? You can usually choose between paying the termination fee or taking over the bike privately.
What about any remaining maintenance budget?
If there is a balance left, you can use it in several ways:
- Have a final full service carried out before handing over the bike
- Buy accessories at a Cyclobility shop
- Have the amount paid out as a voucher
Please note: if your lease contract includes an all-in service package through Cyclobility , there is no separate maintenance budget, and therefore no residual amount left. The same applies if your order did not include a maintenance budget.
Frequently asked questions
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The takeover price is based on the residual value of the bike and the remaining lease term. The longer you’ve already leased, the lower the price will be.
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Examples include dismissal or resignation, long-term illness, or death. The exact conditions are detailed in your lease agreement.
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No, when you buy the bike privately, maintenance and insurance coverage usually end. From then on, you are responsible for these costs yourself. Of course, you remain welcome at Cyclobility for all maintenance services.
