Road Race Bike on credit - anyone know where?

[cheadle hulme]

Shunning interest free finance if you have the money to buy a bike and are going to buy it anyway is effectively therefore tantamount to handing free money to the bank.

There's no such thing as free finance; its a marketing ploy which you appear to have fallen for.

Why would a business give you free finance when its own finance costs so much?

The cost will be incurred elsewhere, usually in the margin ie the bike is at full RRP or something.

 

[dodgy]

The cost will be incurred elsewhere, usually in the margin ie the bike is at full RRP or something.

Quite true, but my attempts at discounting new model bikes usually fail. the only time I succceed at getting discounts are on bikes that aren't selling well, or last year's or older. Whereas discounts are usually available in the form of free credit, which suits me.

 

[bonj2]

There's no such thing as free finance; its a marketing ploy which you appear to have fallen for.

Why would a business give you free finance when its own finance costs so much?

The cost will be incurred elsewhere, usually in the margin ie the bike is at full RRP or something.

well, quite possibly, but it depends on what they'll sell you the bike for if you don't take up their offer of "interest free credit", which as dodgy experiences may not be any less.

You don't want to be a cash buyer turning your nose up at interest free credit because you take the standpoint that 'there must be a catch', but all the while subsidising those who do take it up instead...
if you can't beat 'em join 'em and all that...

my point is only really valid for comparison with the same bike purchase without interest free credit, but that comparison is imho valid - you don't get some interest free credit bikes and some non-interest free credit bikes. If the shop offers interest free credit at all, then it affects all their bikes.

 

[Ivan Ardon]

you don't get some interest free credit bikes and some non-interest free credit bikes. If the shop offers interest free credit at all, then it affects all their bikes.

Really?

 

[dodgy]

Really?

Certainly in my experience anyway. I bought my Dolan from Formbycycles and none of their bikes were excluded from it. That includes such marques as Litespeed, Colnago, Specialized and more.

 

[jay clock]

The main point about getting a bike on 0% finance, is, that if you were going to buy the bike anyway, you are actually saving yourself (or a relly) money by buying it on interest free credit.
Shunning interest free finance if you have the money to buy a bike and are going to buy it anyway is effectively therefore tantamount to handing free money to the bank

If you have £1000 in the bank, then yes, you could leave it there and get about 3% interest (taxed so only worth at best £24 for 12 mths). I challenge anyone not to get £24 off a £1000 bike these days. And you have the satisfaction of knowing the deal is done and dusted.

More to the point, why not just get a cheap bike for your duathlon?

 

[ed_o_brain]

I'll just make a couple of points here about buying bikes on credit:

If the bike gets accidentally damaged/stolen, you still have to keep paying for it. It's a rather unfortunate situation to have to be in, paying for a bike you haven't got and somehow funding it's replacement. Therefore you may want to consider the extra cost of insurance.

Secondly, if you circumstances change and you need to sell the bike pronto and repay the finance (if the T's & C's allow) or return the bike, you need to make sure that bike is still worth more than the outstanding finance.

There's something to be said for trying to stay within your means. If it came to it, I reckon my 90's dale MTB would still make it fun to compete. I've seen similar offered for anything from £50-£200 depending on condition. That still leaves enough in the budget to tweak for road racing. These bikes are light and stiff. Swap tires, up the gearing and fit aerobars.. you will be away...

 

[RabbitFood]

yes very good points that I am thinking hard about and the more I think off it the more ill not be getting a bike on credit as like i said money is tight at the moment.

So ill keep looking for a good 2nd hand bike on ebay, here gumtree ect.

Thanks for all the advice best and friendliset forum i been on so far

 

[bonj2]

If you have £1000 in the bank, then yes, you could leave it there and get about 3% interest (taxed so only worth at best £24 for 12 mths). I challenge anyone not to get £24 off a £1000 bike these days. And you have the satisfaction of knowing the deal is done and dusted.

More to the point, why not just get a cheap bike for your duathlon?

ISA 4.5%. but yes, see your point.