Sam Kennedy
New Member
- Location
- Newcastle
What are some good bike shops which offer 0% finance?
What has your experience been like with them?
Cheers,
Sam
What has your experience been like with them?
Cheers,
Sam
0% Finance
- Thread starter Sam Kennedy
- Start date
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Ask your employer if they offer the cycle2work scheme. If not ask them if they offer interest free bike loans repaid via PAYE. Both are better than signing any finance agreement. Most 0% agreements I've seen are only 0% for a limited period - 6 months, 1 year - if you haven't repaid by the end of the 0% period they usually slap on an outrageous interest rate (30%+) and back date it the start of the agreement. Also they usually sign you up on monthly repayments that are longer than the interest free period - to trap you into repaying with interest. If your employer doesn't offer the cycle2work scheme or interest free bike loans then it may be worth a punt - just know what you are signing before you do...
Banjo
Fuelled with Jelly Babies
- Location
- South Wales
My experience of 0 percent is that in reality you may be able to negotiate a better discount if you dont use it so it isnt really 0 percent at all.
I paid for my new bike by negotiating the best price then putting it on a brand new Tescos credit card that gives genuine 0 percent for 6 months.
I paid for my new bike by negotiating the best price then putting it on a brand new Tescos credit card that gives genuine 0 percent for 6 months.
I am Spartacus
Über Member
- Location
- N Staffs
Surely you can escape on your Pinarello Prince into the sunset?
andyfromotley
New Member
- Location
- Otley, west yorks
www.allterraincycles.co.uk
used to do great 0% deals. Awesome showrooms and i think thier bikes were priced about right so you werent paying over the odds for em as far as i can see. havent actually bought a bike of them but they seem a really good outfit.
used to do great 0% deals. Awesome showrooms and i think thier bikes were priced about right so you werent paying over the odds for em as far as i can see. havent actually bought a bike of them but they seem a really good outfit.
Dave5N
Über Member
- Location
- Outside The Little Nibble
Cycle to work is a bit crap really. Talk to your payroll man or woman about beneficial loans.
Will1985
Über Member
- Location
- South Norfolk
I'm pretty sure that the OP is under 18/a student. That rules out C2W and probably also 0% finance unless it is your parents fronting you.
BearPear
Veteran
- Location
- God's Own County
andyfromotley said:
This is my LBS - they have an advert running in Cycling Weekly offering 3 years 0%. As the poster says, their prices are pretty fair. I got my Trek from them and have been completely happy with it.
jamesxyz
New Member
- Location
- Huddersfield, West Yorks
andyfromotley said:
I also got my bike from here on 0% (£2300) - I had most of the money but would rather it be in my bank account earning interest. I got it over 2 years but could have had three. The more the bike costs the more interest free period you get. They use Black Horse and it was very quickly organised so I have no complaints.
That said I think if you pay cash up front you get a 10% discount and I believe a number of places do domething similar (sometimes 10% of free accessories instead).
HJ
Cycling in Scotland
- Location
- Auld Reekie
I bought my bike in a sale, I got 30% off but it was still just above my budget (I was a student at the time) and they offered my six months interest free finance to close the deal. It was great, I just put all the money I had budgeted into a spare account, set up a standing order and saved for a couple more months to make sure that I could cover the final payment.
It was great, pain free and I got a bike which I wouldn't other wise have been able to afford at that time...
It was great, pain free and I got a bike which I wouldn't other wise have been able to afford at that time...
Dave5N
Über Member
- Location
- Outside The Little Nibble
colinr said:
You missed my point. A beneficial loan confers the same tax advantage with fewer restrictions.
Doesn't that have tax implications - benefits in kind and that? I agree with you though, sorting C2W in a small company with limited cash flow is awkward. It's probably easier in bigger companies that are willing to set it up (like ones with showers and fancy stuff like that).
