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It seems to be working fine. Are you multiplying the "monthly cost to you" by 48 months instead of 12? The hire period is 12 months regardless of whether you select "4 years"(own it later) or "1 year" (own it now) in the calculator. Choosing the "own it later" reduces the ownership fee.
hullian-
No there is definitely something wrong with it. Why would the hire period be fixed at 12 months? If I do the same thing with the Evans calc for 48 months, the monthly cost is a quarter of what the Cyclescheme one is.
https://www.evanscycles.com/b2b/ride-to-work/savings-calculator
Unless you can only pay it off in a year via Cyclescheme?
dubkev
Is it just me or is the cyclescheme.co.uk calculator fucked?
Any time I put a 4 year option in, the monthly repayments end up totalling way more than the full price of the bike.
https://www.cyclescheme.co.uk/calculator