Pedal Bike finance???

Ant_Wish

I want to get a pedal bike and was thinking about getting one on finance, can any one tell me what bike companies us what credit reference agency to check credit worthiness for bike finance?? I have 999 out of 999 on Experian and only 378 on Equifax. So I would rather apply to a company that use experian. Thanks.

marcarm

Your score is meaningless, the finance companies do not get to see it.

They have their own criteria on which to base lending which they do not publish so people cannot tailor their applications accordingly. Companies do not lend based on score, but on history.

Have you thought about a 0% credit card or even a cycle to work scheme?

TadleyBaggie

Regardless of which CRA the finance company uses, they will never see your "score". What matters is what is on your credit record. So what is on your record that causes Equifax to generate a low score?

PeacefulWaters

Save up for crying out loud.

Nebulous2

I've no idea which CRAs individual companies use, but I certainly wouldn't purchase a bike based on that.

Many retailers will give a 0% interest option on bikes, Evans for example.

Find the bike you want and then try the finance from there. One check isn't going to do very much harm.

The other thing, as has been said already, is to identify and fix what is on your Equifax report.

ViolaLass

If you're 'thinking' of getting one on finance, does that mean you can afford not to? It'll be cheaper if you don't.

dealer_wins

PeacefulWaters wrote: »

Save up for crying out loud.

Thats so last century, its all about NOW NOW NOW, now. :rotfl:

PasturesNew

If you just want "a bike" then get a £30 one off ebay and ride that while you save up for something better.... and you might decide you hate cycling (wind, rain, never got the right outfit, nowhere to park it, mucks your hair up) and give it up after 2 weeks.

Nebulous2

PasturesNew wrote: »

If you just want "a bike" then get a £30 one off ebay and ride that while you save up for something better.... and you might decide you hate cycling (wind, rain, never got the right outfit, nowhere to park it, mucks your hair up) and give it up after 2 weeks.

No, no, no - that doesn't work. Buy a really nice bike and then sell it to somebody who will appreciate it in a few months, practically unused, for around 50-60% of what you paid for it!

dresdendave

Nebulous2 wrote: »

No, no, no - that doesn't work. Buy a really nice bike and then sell it to somebody who will appreciate it in a few months, practically unused, for around 50-60% of what you paid for it!

With the added benefit that having bought it on finance, you will have the pleasure of still paying for it for months on end even though you no longer own it.

DCFC79

PeacefulWaters wrote: »

Save up for crying out loud.

Now what is this new fandangled new idea, is it some of wizardry or black magic.