In my 'other' life I adventure race, trail run and mountain bike race.
Not very 'ish' but a heap of fun. Anyways, my race bike, the love of my life [apart from kids, most of the time] is 6 years old and very well used, parts were wearing out and she needed some significant money spent on her to keep her up to speed for racing. I had heard about the scheme and how it is a good saving, so thought I would give it a go. Found the bike I wanted, applied yesterday and have been approved already. The scheme is meant for bikes up to £1000, so I am paying a little extra to top it up, the rest is taken form pay packet before tax and NI and will save me about £400 on purchase price. Very excited. 
Oh and I wouldnt dream of riding new bike or race bike to work. I use my old bike, which was my second race bike and now has a basket and carriers on it.
Well worth looking into a scheme, see if your employer offers similar.
