Saving for £1500 bike

timboellis
timboellis Posts: 223
edited October 2016 in Road buying advice
I decided that i will start buying some vouchers for a new bike rather than putting cash aside as it tends to disappear for something sensible.

However what vouchers do i get and for what shop, I currently have a Planet X RT 58 so looking for a sportive style bike.

Looking for under £1500 ?

Comments

  • londoncommuter
    londoncommuter Posts: 1,550
    That's a really bad idea as you can't have a clue who will have good deals by the time you've saved your vouchers up. Add in the chance they go bust in the meantime leaving you as an unsecured creditor and the chance of loss/theft as well as the lack of interest while you're saving. Can you open a savings account (burn the PIN when it comes through without reading it) and just move money into there?
  • Redbaron1
    Redbaron1 Posts: 116
    Credit card it, transfer the balance to one that is 12 months interest free on balance transfers.
  • wotnoshoeseh
    wotnoshoeseh Posts: 531
    Agree with londoncommuter - the vouchers are not a good idea, on the basis that it is an unsecured sum that you will have in vouchers; so if said retailer goes bust, then so does your hard earned. Also when you have the vouchers collected, the retailer you have chosen to buy the vouchers from may not have the bike that you want, or not in your size - and vouchers are usually not refundable...
    Redbaron1 wrote:
    Credit card it, transfer the balance to one that is 12 months interest free on balance transfers.

    This is a little better but I would say don't do that either - Instead, take out a new credit card with interest free purchases on it for the first 12 - 18 months, or whatever is offered. Then purchase said bike - no interest; no transfer fees to another interest free card (unless you don't pay it all off first time around over the 12 - 18 months), and pay it off in the allotted time.
  • Phil&hisbikes
    Phil&hisbikes Posts: 75
    A lot of stores will do interest free credit as well.
    Not a fan of (don't own) credit cards in all honesty, don't trust myself!

    Don't do the voucher thing. My mum and sister (bless em) bought me vouchers for my lbs. Luckily I used them pretty much straight away, cos that shop is now closed! A lot of vouchers have a one year limit on them also.
  • timboellis
    timboellis Posts: 223
    Thanks for the feedback got myself a wee jar putting pennies into it, up to £450 in a week so getting there.

    Thinking about a ribble

Categories