Removing cashflow concerns.
Workride’s financing solutions empower every employer to deliver a high-value, sustainable ride-to-work benefit—without impacting cashflow. Backed by our leading finance partners, our fully financed model requires zero upfront investment.
We know each employer’s financial situation is unique, but the goal remains the same: maximize benefits for your team. That’s why our framework offers both employer-backed and employee-linked options, with installments aligned to salary sacrifices for predictable, hassle-free costs.
How it works.
Workride’s financing model is designed for simplicity—both for employers and employees. By aligning each step with your payroll cycles, we ensure that no upfront costs or cashflow strain
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Once an employee’s ride is approved, Workride draws on our financing facility to pay the retailer. This allows your team to access their new bikes or e-bikes immediately.
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Once approved employees collect their rides directly from their chosen retailer. Then, starting with the next payroll cycle, their salary is reduced by the pre-tax amount specified on the populated salary sacrifice agreement provided by Workride.
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Rather than juggling multiple transactions, you’ll receive a single monthly invoice covering both new leases and any ongoing benefits. This rolling structure keeps your financials predictable and simplifies reconciliation for your accounts team.
Employer backed.
Employer backed is the lowest cost for your team.
Partnering with a top NZ bank, we access green lending rates for employers willing to guarantee 12-month benefit installments.
This approach secures near market-low interest costs—maximising employee savings—while integrating all financing fees into each employee’s pre-tax salary sacrifice.
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As the guarantor for an approved financing limit, your organization enables employees to access lower interest rates on their ride benefits—available on a rolling basis.
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By acting as a guarantee, you assure the lender that all 12 payments will be made for each ride benefit. In the rare event an employee abandons their salary sacrifice commitment, Workride steps in to help resolve the situation, though the guarantee remains in place.
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All financing fees are bundled into the employee’s pre-tax salary sacrifice during benefit setup, ensuring no additional cost is borne by your organization.
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Most employers can access this financing option—similar to establishing workplace car leases. Our quick digital check process takes just 15 minutes, making it easy to get started.
Employee linked.
Employee linked is the most flexible option.
Our Employee Linked Offer is ideal for smaller employers and Crown organizations. Using a novated lease structure, employees directly finance their ride benefits, transferring all financial responsibility to them and eliminating employer liability.
While it carries a higher interest rate, this self-financing model eliminates employer liability and scales effortlessly—no matter the ride cost or level of employee uptake.
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In a novated lease, employees take on the responsibility for lease payments, with the option to have these payments managed by the employer as long as they remain employed. This arrangement shifts the financing burden entirely to the employee while still allowing for streamlined processing.
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Lease payments are split into 12 equal installments that align with employees’ salary sacrifice deductions. Employers benefit from a simplified process by receiving one consolidated monthly invoice covering all benefit payments.
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The employee ultimately remains liable for the lease payments. If an employee leaves before the lease period ends, any outstanding payments revert to the employee, ensuring that the employer incurs no additional costs.
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When lease payments are novated to the employer, they are deducted from the employee’s pre-tax income, maximizing tax savings. However, if any lease payments revert to the employee—such as when employment ends—they must be made from net income, reducing the tax benefit. For example, if an employee novates only half of the lease term, they will secure pre-tax savings on only half of the benefit’s value.
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Novated leases have a long history in Australia as a proven method for salary packaging—allowing employees to finance vehicles and other benefits through pre-tax salary deductions. This model shifts the financial responsibility to the employee, delivering significant tax savings while minimizing employer liability. Building on this success, New Zealand has now embraced novated leases for innovative benefits like our ride-to-work program. Our Employee Linked Financing option adapts this time-tested approach, offering a flexible and cost-effective solution that scales with your organization’s needs.
An automated process
During onboarding, our team configures your account with the chosen financing system. Once set up, our automated dashboard minimizes administrative tasks by handling invoicing, payments, and real-time tracking.
Workride provides real-time access to all billing, payment, and salary sacrifice data, ensuring finance teams have full transparency and control.
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Workride invoices you monthly for all active leases, with detailed breakdowns of each installment.
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Use the Workride dashboard to monitor the total value of live employee benefits and track committed expenditure. We can also set spending limits on your account upon request.
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For employee-backed financing, please notify Workride one month before an employee’s departure so we can reassign payment responsibility back to them.
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When lease payments are novated to the employer, they are deducted from the employee’s pre-tax income, maximizing tax savings. However, if any lease payments revert to the employee—such as when employment ends—they must be made from net income, reducing the tax benefit. For example, if an employee novates only half of the lease term, they will secure pre-tax savings on only half of the benefit’s value.
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Employers can download all historical data directly from the Workride dashboard, with structured reports that simplify reconciliation and processing. CSV and XLSX export options also make it easy to integrate with existing finance or accounting systems, giving your team clear, comprehensive oversight of every transaction.
Built for you.
Workride’s lease-to-gift model is built to protect your organization at every step. By retaining ownership until employees complete their salary sacrifice payments, we eliminate financial exposure and regulatory risks.
If an employee abandons their salary sacrifice commitments, our structured process—reengage, reclaim, and reimburse—ensures that all costs are fully recovered. Additionally, by maintaining responsibility for warranties and health and safety compliance, we shield your organisation from supplier-related liabilities. Read more details on this here
Want to hear more?
Reach out to learn why CFO’s choose Workride.
✔ Fully funded benefit - zero impact on your cashflow.
✔ Financing solution adjusts for teams of any size.
✔ Fees passed directly to employees via salary sacrifice.
✔ Consolidated billing for streamlined payment management.
✔ Complete control with access to all transaction history.
Let’s get you started.
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Want to reach out directly to the team?
Please contact: support@workride.co.nz