Financing

MountainMonster

What bike shops offer financing? Parents are thinking of agreeing to finance a bike for me so I can get a good AM full susser since hardtail isn't really cutting it, but noticed wiggle is the only one that does financing, but unfortunately has a small selection of bikes. Looking mainly at a Specialized Pitch.

bennett_346

I know hargroves cycles do 0% finance, and stock both the 2011 pitch pro and comp.

http://www.hargrovescycles.co.uk/produc ... 20-%202011

I bought my pitch from there, excellent customer service.

slowslowslow

Most shops will offer it. Do not know your area but Evans certainly do. Hit the web and find your local shops so you can get in and try them, and they should advertise if they do financing.
If you buy on the net you do not have the chance to try first and risk getting the wrong bike.

try cycle to work scheme as well.

MountainMonster

Hey i@ve actually gotten denied by the parents so it's completely irrelevant now I hate when people change their minds.

cooldad

Get a paper round?

Pauls Cycles have finance. Decent prices on non current models too.

MountainMonster

I've already got a job, but with bills it will take too long (by my standards) to get the bike I want, would be much easier to finance it now and make monthly payments rather than waiting a minimum of a year to have all the cash together.

I cant get finance on my own because my UK bank account is used abroad now, and goes into the red by a pound or 2 every month because of the exchange rate.

cooldad

That's a bummer. I tried financing one last year and couldn't understand why I was turned down. Perfect credit rating for over 30 years.
Turns out I hadn't changed my address on the voting thingy. As a foreigner (UK born but lived most of my life in sunnier climes) that's the last thing I would have thought of.

cat_with_no_tail

Are you 18 then? Just wondering with you saying you had to ask your parents.

Surely the best thing to do is to just put a bit more money away in the UK account so that it STOPS going into the red every month. If you can't afford to stop your account going overdrawn every month, you can't afford finance either.

Once you've stopped going overdrawn every month, shouldn't take long for you to build your credit rating back up.

Of course, personally, I'd stay debt free and just save up. Work overtime or get a second job or something.

MountainMonster

Cat With No Tail wrote:

Are you 18 then? Just wondering with you saying you had to ask your parents.

Surely the best thing to do is to just put a bit more money away in the UK account so that it STOPS going into the red every month. If you can't afford to stop your account going overdrawn every month, you can't afford finance either.

Once you've stopped going overdrawn every month, shouldn't take long for you to build your credit rating back up.

Of course, personally, I'd stay debt free and just save up. Work overtime or get a second job or something.

I'm 21 and happily married, just asked my parents because i'm a foreigner in both the U.K. and in Austria here, so can't get a loan either place on my own terms. I'm employed full time, I have full time university so no time for other jobs or anything.

It's not a problem of not being able to afford keeping out of the red, I just get paid into my UK account and withdraw the money where I live here in Austria with my wife. I have to be very careful with taking my pay out here because of the exchange rate, and it takes 2-3 days for my account online to be updated so I have to estimate every time I get paid as to how much exactly I can take, but exchange rate changes every day so it normally gets 1 or 2 pound overdrawn.

It's quite dumb, but I have no use for the account, but it's easier than transfering money from my businesses account to my personal account here in Austria.

Very complicated story.

altondelmote

You can invest your high yield finance in stock market and get high benefited from this then buy a good bike.

chemicalneil

Je James do 0% for 3 years with a10% deposit.

Great service and good selection of bikes. Trek,specialised,kona,orange etc etc.

Neil

chemicalneil

Je James do 0% for 3 years with a10% deposit.

Great service and good selection of bikes. Trek,specialised,kona,orange etc etc.

Neil

Pudseyp

Blaclava and a replica springs to mind....job done...make sure your Reeboks are in good nick though.

bobcheese

ok heres my version of 0% finance and cash discount at the same time you will need:

2 x new credit cards (one that has a long 0% interest rate for balance transfers and one that will allow you to issue cheques).

1 x bank account

abit of cheek or the balls to ask for a discount

have a look round and find the bike that you want, speak to the shop and see what sort of discount they can offer for cash or what freebies they will throw in (most shops will only do 0% at full RRP and no freebies)
Issue yourself a cheque from CC 1 and pay into your bank account. When it has cashed, go buy your new bike! Then before you get your first bill do a ballance transfer to the 0% card (there will be a little carge for this normally 2-3% so on a 1K bike it will be £20-30) now you have the term of the 0% to pay it off or balance transfer to another card after the term runs out (another small fee)

And there you have it a new bike at 0% with cash discount or freebies

The Northern Monkey

I got a loan through my bank on a very low %apr.

Spreading the cost over a few more months to reduce monthly payments but will be paying it off early anyways.

diy

cooldad wrote:

Turns out I hadn't changed my address on the voting thingy.

Interesting... my sister in law is in the same boat and struggling to get a mortgage. I wonder if that is it..?

cheers.


@MM Regarding Financing...

This might sound a bit holier than thou, but my rule is never finance a depreciating asset, unless owning it is a necessity for earning a living. Much better to save up for things. Why not look out for a quality used AM bike instead?