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Obviously depends on individual circumstances (which scheme, workplace agreement, othersalary sacrifices, if you save money by not commuting on train etc.) but the basic calculator that makes it look like you pay £600 for a £1000 bike doesn't include the "transfer of ownership" or "extended usage" fee options (or whatever they're called) at the end of the first year
In my case unless you return the bike after 12 months, you can only save ~25% or so. You save a bit more if you pay the 3 year extension, rather than the immediate end of hire and at the end of 3 years the bike has equal or less value than the 3 year extension fee you pay.
For some people it's probably easier to get and less risky than a 0% card and you do pay a little less tax while they're making the deductions...
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atk
Where does 3 years enter into the equation? Have you got any fact to support this?