Good morning,
I would run a mile from this;
Once you take the hype out it seems to be a clever way of marketing loans, it may not have started out that way but that seems to be how it has ended up.
The bike is bought on finance but you don't get to choose who offers the loan and who you buy the bike off. You have to use a tied retailer who will get "we will pay you the majority of the margin (based on full RRP) that you would have earned selling the bike yourself"
The Organisations T&Cs link points to a non exitsant page at the time of this post.
https://www.free2cycle.systems/spon...3.1199422152.1553323220-1479807647.1553323220
The Organisation (employer) seems to be obligated to pay 20p per mile, that's a lot. As the T&Cs aren't available for the Organisation it is not clear how long they have to pay this, for example after the loan is paid off.
I would be concerned about this being a taxable benefit, the site says that they have expert opinions that say it is not but I couldn't find one from HMRC. In general commuting to a from the normal place of work is not eligible for expenses reimbursement, but this seems to be that.
The price of the bike is RRP, it does seem that brands like Specialized have a price fixing agreement for current model year bikes, but it is less clear if dealers are willing to discount this by offering accessories at a good price. So you wont be able to get last year's model.
You have to use a mobile phone tracker app, sounds like an excuse for you having to pay part of the monthly loan as your phone battery was flat, the app had issues or you just forgot it.
I wont ask what happens when you change employer as that seems to be discretely forgotten in the main site body.
Having thought about it further it appears that you are not buying the bike from the supplying shop, they are just a collection point so they would not have any warranty obligations.
Bye
Ian