In my last 2 years at my last job, I had a C2W bike.
22-mile commute each way, which I did from February to November, 3 days a week. In the cold months I just did the occasional day when I felt brave.
The bicycle was £1000 (the most I've ever spent on one) and in terms of saved petrol money alone it was paid for within the first year. Were I the type of saddo who added other variable costs (tyres, brakes and so on) it would have been much less time.
I was riding to work before I got the C2W bike, but I'd never bothered with doing the sums before then.
I wouldn't be without a car, but commuting by bike does pay. And it is fun.