Road Race Bike on credit - anyone know where?

[RabbitFood]

Hi All,

After a few posts and lots of research I have a very small budget in terms of my first road race bike that I will be useing in an upcoming Duathlon.

Anyway I only have £250 - £300 really and unless I can get one on credit or a buy now pay later then im stuffed and ill have to do it the old fashiond way and save up for 4 months but i want to get out riding asap

I haev been on Dales Cycles but all the bike are to exspensive for me.

Thanks
Rabbit

 

[bonj2]

JE James: http://www.jejamescycles.co.uk/finance.html

 

[Sittingduck]

Wiggle do it too. I almost ordered a Focus Summit08 on the buy now pay next year option but thought better of it.

Damnit Ben, you're responsible for me almost spending £566 on a Spesh Allez 27 on the finance deal on that site

 

[RabbitFood]

LOL, by the looks of things I might have to up my budget to that kind of price point as I cant seem to find a good bike for under liek £350 and im happy to buy 2nd hand but not got that sort of cash jsut laying about.

Thanks

 

[Soltydog]

I'm sure there will be a few credit cards offering 0% on purchases. Check out money saving expert website

 

[dodgy]

Quite a few places do 0% interest over 3 years, it makes even quite exotic machinery fairly affordable!
The last time I checked, all of these places did 0% over 3 years

http://www.formbycycles.co.uk/ <---- bought one of my bikes from here
http://www.allterraincycles.co.uk/ <---- bought another one here
http://www.jejamescycles.co.uk/
http://www.dalescycles.com/

Dave.

 

[marinyork]

JEJames only do 20% deposit + interest free for 12 months on orders over £450 unfortunately. I believe their credit check is a bit of a faff too.

 

[dodgy]

From http://www.jejamescycles.co.uk/finance.html

36 Months 0% finance available on purchases over £1250
24 Months 0% finance available on purchases over £700
12 Months 0% finance available on purchases over £450

It's not very clear to me what the OP's budget is, we know how much money he has now but not how much he's prepared to commit himself to. I always do the 36 month one, at the end of 36 months I stick 'em on eBay and use the funds to go towards the next one (unless it's a road bike, then I tend to winterise it or something) B)

As a guide, if the OP was to spend £1250 on a nice shiney road bike with a £250 deposit, his monthly payment would be £27.78.

The problem with 0% over such long terms is that it's very tempting to up the budget

Dave.

 

[Chrisz]

Can you still get credit these days???

 

[marinyork]

They are my LBS which is why I commented.

 

[jay clock]

Why not live within your means. In the current climate it is probably an idea not to overstretch yourself

If you must borrow, would it not be easier and probably less costly to borrow from a relly?

Finally, if aiming for a particular race, why not buy on old mtb, stick on some slicks and Ebay aero bars and off you go. You will go just as fast if not faster than lots of people on carbon TT bikes

 

[mickwood]

Have you not considered the bike2work scheme? although I believe it only goes up to £1000 so it may not be suitable? I got mine from it...spent £950 but will pay back only £480!!

 

[youngoldbloke]

Ribble do a 8 month interest free 'cheque spread' - posted dated cheques - for bikes over £400 - check out 'payment' on their website for details.

 

[bonj2]

Why not live within your means. In the current climate it is probably an idea not to overstretch yourself

If you must borrow, would it not be easier and probably less costly to borrow from a relly?

Finally, if aiming for a particular race, why not buy on old mtb, stick on some slicks and Ebay aero bars and off you go. You will go just as fast if not faster than lots of people on carbon TT bikes

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. It's obviously debatable whether that's a moral thing to do, but personally I'd rather not - imho banks are greedy and I tend to go by "better in the little man's pocket than the big fat cat's".

However (and it is a big however), you might not have been going to buy the bike anyway, and it sounds like this is the case with the OP.
On this basis, I tend to agree with your sentiment to live within your means.

 

[RabbitFood]

Thanks for all the replies and help and I have taken everything on board.

After a few good deals, I work in online sales I have a few months of nice big commision so I think ill do some reasearch pop into my LBS and have a chat and then come back and see what you have to say with the bike choices.

This really is very addictive already lol

thanks