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Bike redemption in the middle of the leasing period

Updated
You might be changing jobs, moving abroad, or simply prefer to purchase the bike and end your benefit bike contract early. Instead of returning it, you can redeem it. 

How the redemption price is calculated

The redemption price is based on how long you've had the bike and what you've already paid toward it.

Example (for demonstration only): Let's say your bike package costs €2000

  • Your lease started on 1 January and you want to end it on 31 August — that's 8 months
  • Your monthly contribution to the bike rents could be approximately €80 (your taxable value is €100/month, split between bike rents and service costs)
  • Over 8 months, you've paid €80 × 8 = €640
  • Your redemption price is €2,000 − €640 = €1360
  • Some benefits incur an additional service fee €36.44–€50.60 (VAT 25.5%)

Total redemption price on 31 August: approximately €1360-€1410,60

If your contract includes a maintenance budget and you've used more than you've accumulated, the difference is charged together with the return fee.

If you haven't used your accumulated maintenance budget by the end of the contract, the remaining balance is forfeited and cannot be used after the contract ends.

Key things to know

Timing: the price is always calculated for the last day of the month. You must request redemption by the 20th of the month if you want the contract to end that same month. Request after the 20th, and your contract ends on the last day of the following month instead.

Note: you can order a new benefit bike after your current contract has ended. For example, if your contract ends on 31st of August, you can order a new bike starting 1st of September.

How to start the redemption process

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  1. Log in to your Vapaus UserApp.
  2. Open your benefit bike contract under My bikes.
  3. Select … and choose Redeem bike.
  4. The system will guide you through the redemption steps showed above.
  5. The system automatically calculates your redemption price and creates an invoice.
  6. Pay immediately or pay later. The invoice must be paid by the due date, or the redemption process will cancel automatically. See Payment methods.
  7. Once paid, you'll receive the deed of sale after your contract has ended. 

 

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