• This topic has 21 replies, 14 voices, and was last updated 9 years ago by Dave.
Viewing 22 posts - 1 through 22 (of 22 total)
  • Contentious one – should bike shops offer 5 years finance options
  • swanky
    Free Member

    If riders have the option to pay full cash up front, or get anything from 12 months upwards on 0% finance or low rate finance – should it be an option and why?

    wwaswas
    Full Member

    5 years?

    that’s pretty long for a consumer product which is probably going to be either broken or mostly replaced in 3 years?

    davosaurusrex
    Full Member

    Let me guess, does your shop offer it by any chance?

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    Jamie
    Free Member

    Let me guess, does your shop offer it by any chance?

    His shop offers 2yrs. I assume they are contemplating upping it to 5 years, so doing a bit of research, to see if it would drum up extra business.

    Apparently so.

    davosaurusrex
    Full Member

    Had to be something along those lines. Seems almost like free advertising?

    I’d quite like it if bike shops offered part exchange. It’d save the hassle of selling privately.

    annebr
    Free Member

    Anyone who needs 5 years to buy a bicycle shouldn’t be given finance.

    And TBH should really consider buying a cheaper bike.

    weeksy
    Full Member

    Seems excessive for something that’s generally not that expensive.

    3 years should be plenty.

    Jamie
    Free Member

    Had to be something along those lines. Seems almost like free advertising?

    Not really. As no company has been named etc etc.

    Jamie
    Free Member
    hilldodger
    Free Member

    I’m sure it’s just coincidence 😆

    convert
    Full Member

    3yrs is plenty. At 5 there is a fair chance you would be paying for something you no longer own.

    dannybgoode
    Full Member

    At 0% why not spread the cost over 5 years if you can afford the payments. If you were being hit by a usual credit APR of 19-31% then no.

    faustus
    Full Member

    5 years is a long time for something that is getting on for worthless in 5 years/tiny fraction of what you paid. As a consumer i wouldn’t want to be paying for something in 5 years, that i’ve paid a lot of interest on that is worth £250 or less (depending on model/brand). A car has the residuals for this, much else doesn’t.

    Also, the repayments would be pretty tiny and pointless, but you’d be bound by a credit agreement.

    No.

    EDIT: assuming 0% is only offered on short term not long..?

    MrSalmon
    Free Member

    What wwaswas said. Can’t see any need for more than 3. Or 1 really TBH!

    sandwicheater
    Full Member

    I’d quite like it if bike shops offered part exchange

    Leisure Lakes agreed to buy my old Stumpjumper off me when I was purchasing an Enduro off them. Made my life very easy. Rocked up with one old bike, walked out with something bouncy and shiny.

    This was back in 2004.

    dannybgoode
    Full Member

    @faustus – the ad clearly says ‘We can offer u up to 5yrs 0% finance on them!’

    0% is a no brainer if the monthly payments are affordable

    nealglover
    Free Member

    As a consumer i wouldn’t want to be paying for something in 5 years, that i’ve paid a lot of interest on that is worth £250 or less

    I’m no good with maths, you say a “lot” of interest.

    How much interest would you have paid on a £5k bike on 5 years 0% finance 😉

    Jamie
    Free Member

    How much interest would you have paid on a £5k bike on 5 years 0% finance

    Hang on, I’ll get my abacus.

    nealglover
    Free Member

    Hang on, I’ll get my abacus.

    Cheers 🙂

    Dave
    Free Member

    Thread closed for borderline astroturfing.

Viewing 22 posts - 1 through 22 (of 22 total)

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