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Substance over form, you own the bike after the 12 months period, put it this way, this is a scheme which really should be a personal allowance for individuals to purchase a bike BUT the powers to be decided that's too easy...
Why the heck does the employer and a 3rd party which takes up to 15% commission for doing fuck all is needed to buy a bike?
coventry_eagle
TM
It depends on the company. Usually if they call the scheme to £1000, usually they own it. If the cap is higher, usually the operator owns it.
See https://help.cyclescheme.co.uk/article/45-who-actually-owns-the-cycle-to-work-package for more.
If you do resign not sure you own it. I did resign once, paid the remaining without the savings, but at the end of the year, Cyclescheme asked me if I wanted to keep the bike or extend the lease until the end of 5 years.