Pedal Bike finance???

ViolaLass

DCFC79 wrote: »

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

It's denying people their rights, that's what it is.

Richey_

Does your company offer a cycle2work scheme? If they do it will mean that you can pay for the bike over either 12 or 18 months and you will pay less for the bike than its purchase price as there is a tax incentive. Of course you would have to use the bike for some of your journey to work (so may not be applicable) but my understanding that can include cycling to the train station as part of the commute. They will not credit check you as this is done through your employer.

On a different note, if I were you I'd save the £10-£15 a month you are paying for Experian/CreditExpert. Use the £2 statutory check periodically to see your Experian data, sign up with Clearscore to view your Equifax data for free and with Noddle to view your Call Credit data for free. Remember it is only the content that counts, but If you want a made up score that no lender will ever see, Noddle and Clearscore will provide one for you
:j :beer: :j

CottonTail

Many of the smaller bike shops use what used to be called V12 finance or Creation finance.

Ive used them twice over the last 5 years for 24 months 0% rate and have never had a problem. Obviously it goes without saying make sure you are absolutely within your monthly budget for payments and to never miss a payment. My credit score is pretty healthy but If you are worried about being refused the credit then wait for the moment. I do know people who have fairly terrible ratings and have still manage to get it. not saying that was right but just an FYI.

In my case I had the money saved up to purchase outright. the cash deal wasn't much better than the finance price and so I kept the money in my premium bonds/savings and got the bike on finance.
Then I had the money set aside in case of any emergency. But paid the normal monthly payments on the loan every month no problem.
Have two lovely bikes and still some savings.
As one of the guys mentioned above just make sure you really really want to be using the bike as they do indeed loose value at an alarming rate! So to sell the bike if you got into financial trouble would not cover the outstanding loan value.

happy riding!

Azzzaa

I have a V12 finance loan over 10 months on a Macbook pro, it's just a 0% repayment scheme to pay off the item over time. Personally though unless you're really into your bikes and want a professional road/touring bike worth a couple of thousand so what Pasturesnew has said, buy a cheap one off ebay or a local facebook group and run it into the ground until you can afford something you want!

Originally i wanted a reasonable decent fold up bike to fit on the boat which i could cycle to and from work on, it would save me money in the long run and be beneficial to my health. To cut a long story short, i didn't buy one and to this day think to myself " I should have bought a cheap bike and used it first to get into the pattern on biking again then bought a new one this summer"!