Just on the Evans web site and a pop up – popped up asking
Would you consider leasing your next bike?

Interesting concept. I don’t think would as I have 10 bikes and they get used for different things at different times of the year year.

May work well for some people. Hora 🙂

So is that not like renting a bike then ?

The leasing company will charge you more than the cost of the bike, otherwise they wont actually have a viable business.

So you pay more than you would if you just bought it.

Seems daft, especially with the zero or very low cost of borrowing.

Might be a good idea if you can look after it without being penalised for a scratch.

A good 0% deal would be nicer for some?

Nah, they’re not expensive enough to lease

It’s been tried back in 2011, but it doesn’t look like the company has a website any longer, so presumably not a go-er.

Road.cc article

I would at the right price, but I suspect that’d be difficult to achieve with the way new bikes depreciate. Any fair wear and tear vs. damage discussions at the end of the term would be difficult, particularly with mountain bikes.

If the numbers made sense why not? I don’t think it’s too viable for bikes given the volumes though and breakage etc. If you want a new Santa Cruz every year why not?

I can get a 30k car for £3000 a year on lease. That car is worth 15k max at 3 years old. People will argue they’d rather buy a car but it is cheaper to lease these days in most circumstances.

If a 5k bike can be bought for 2.5k + vat wholesale, and worth 2k as a used bike a year old, then the lease company only really need to charge £150 a month for 12 months to get a decent profit. That’s a cost to customer of say £2k, which using those figures would be cheaper than buying and selling on after a year.

NO. Crackpot idea and can you imagine the wrangling over condition at the end of the lease period?

Do 5k bikes really sell for 2k a year later ?

I think it made be aimed at this Forum 😳

Did the advert say

“Bored of keeping up with the latest bike trends. You bought a single speed and then next year it turns out that the world has moved and every one has a fat bike. So you have all the pain and expense of selling it on ebay and starting again. With us you can change your bike every year, all in return for a low monthly payment. Fatbike, gravl bike, single speed who knows what next year will bring, but with us you can always be on trend”

New year new bike trend

I can get a 30k car for £3000 a year on lease. That car is worth 15k max at 3 years old. People will argue they’d rather buy a car but it is cheaper to lease these days in most circumstances.

I’ve never looked into leasing. Can you point me at an example?

The used, abused and thoroughly trashed thing I handed back at the end may incur a few charges.

Not for me, as above return conditions are a minefield, either you’ll be rebilled for a bunch of cosmetic stuff or they’ll give such a small RV that it’ll become a way to buy a new bike for 70-80% the cost of a normal HP type deal and having to give it back at the end. That’s before I consider that I’ve had kept a bike standard, ever and I’ve funded the upgrades by selling the OE stuff.

Would make for a great second-hand market, lots of safety checked bikes with a degree of come-back of it’s not right.

^ using the stw method of 50% off rrp as soon as you buy it, then 10% off every year thereafter. Which to be fair isn’t unreasonable given you can easily get 30-40% off last years model of bike brand new. Numbers are broad but shows the leading concept works for some people, I doubt realistically it would be viable though for a lease co.

Ampthill, just google the car you like. simpsons skoda had a Facebook thing for the new superb, £209 a month plus £209 down for 2 years, that’s £5,200 for a 24k car over the lease life – that’s a car that’s never going to be worth 19k at 2 years old. Plus you lose some of the headaches of owning it.

The only way the Lease company can make any money is to charge you more to lease it than it would cost to buy…..

Islabikes are looking at leasing. Which makes some sense the speed kids go through bikes and how little some use them.

I’ve never looked into leasing. Can you point me at an example?

Stick your sunglasses on and have a look at Lings car leasing.

The website is very special

It wouldn’t work for me as I don’t pay through the nose for a bicycle or car.

Islabikes leasing is a very good idea. I’ve actually suggested to a few people I know with a bit of spare cash that they should set up a kid’s ‘sport-level’ bike lease type company. Stock the few big names (eg islabikes, early rider) and rent them out to families for a year.

I know in my local clubs, islabikes are commonly handed down / sold on. Can see this being a great business model for them.

I’m lucky enough to get trade in parts of the cycling industry (the perk to working with cycling brands – decent income sure isn’t one!) so I got myself a 2k ish bike for 1k ish and bought it with a 0% 36 month credit card. (Sainbury’s – if anyone is interested – going by moneysavingexpert’s advice). I think buying on 0% finance makes more sense than leasing unless you REALLY neeed the ‘newest’ gear all the time. But really my upgrade cycle is about 5 years…. I can’t really see the point of upgrading more than that?

We’re at a point where for £2-£2.6k you can get a ‘level’ of bike that would’ve been £4k a few years ago.

Edit: road bike, but exactly the same for mtb including prices, I’d say?

I can get a 30k car for £3000 a year on lease. That car is worth 15k max at 3 years old. People will argue they’d rather buy a car but it is cheaper to lease these days in most circumstances

If you ‘need’ a brand new, or £30k car.

The only way the Lease company can make any money is to charge you more to lease it than it would cost to buy

I do think they can lessen the pain by buying in volume, but essentially this is my understanding.

I don’t think bikes can cost enough, be in demand enough, or retain a high enough value for this to work. But given cost per ride/mile of ownership, I would probably lease if it was possible. But then would I need proof of insurance too?

Having said that I do really like my new bike…

I’ve thought about doing something similar for a mountain bike. I have a few road bikes and recumbents, but I do like the idea of riding off-road. However, for some reason I can’t bring myself to slap money down for a mountain bike! MTBs seem really expensive, and there’s a lot of variation (suspension – rigid, gears – singlespeed, fat bike – skinny bike etc.) and I’d like to try a few out. Also, I wouldn’t be riding it all the time – maybe just a few days or weekends a year – and I wouldn’t ride from home – I’d probably set off from somewhere like Aviemore. I’m also not that hot at keeping my bikes clean, so I imagine a mountain bike is going to look quite sorry for itself after its first muddy ride.

I think what might suit me is to pay a bike shop an annual ‘lease’ in return for being able to arrange an insured hire or demo bike at short-ish notice, and drop it off again after a ride without worrying about its maintenance.

“I can get a 30k car for £3000 a year on lease.”

Can you drive it as far as you want?
Do you need permission to take it out of the country?
Can you scratch it, damage it with no recourse to your wallet?

Leasing only works in a minority of deals.

I was talking to a handback guy and he was amazed at the condition I handed it back in. He said the vast majority are charged/fine.

I’d consider it for sure.
With a new wheel size or axle standard every month or two it’d save the headache of upgrades and compatibility over time – just hand it back at the end of the year and get whatever new thing has come along.

I think what might suit me is to pay a bike shop an annual ‘lease’ in return for being able to arrange an insured hire or demo bike at short-ish notice, and drop it off again after a ride without worrying about its maintenance.

Now we’re talking…

… But I do still really like my new bike.

I saw this pop-up on Evans’ website a few days ago. I’ve been thinking about it all week and had thought about doing a thread!

My main thoughts are that this is really about selling more expensive bikes; making money on the finance; and developing the market for both. I guess Evans are either being pitched-to by a finance house, or the other way around.

I suppose that there is a sizable market for “big purchase” category bikes, which are (as we hear here and in other threads) being funded through other routes to debtcredit. This must be about consolidating the market into something that could make a finance house and Evans some money, by being early to a new lease-based market segment.

As has been pointed out, the condition of bikes will be one challenging area. However, I think that the main hurdle is actually the demand for 18-month old bikes. Again, this market could be developed – but is less well established and probably less easy to exploit than selling them new. Selling old(er) bikes will come with costs of sale that are quite probably higher than new ones.

Overall, I think I’m a bit sad about the idea of bike leasing. I’m struggling to explain exactly why, but I think it’s because it makes bikes less special… Rather than being an emotional and cherished purchase (possibly built over time), it grows the market towards higher turnover and lower ownership times.

So, just like car leasing, so desperate to have the ‘new’ thing you’re prepared to pay out constantly and never own something? Not for me thanks.

I would if the figures worked and there was reasonable wear and tear included in the contract. In fact, it would probably work better for road bikes than MTB.

Just like my car id rather have a lesser spec but own it and make my own decision when to replace it than be caught in the cycle of rent/ride/replace.

What happens if you drop it on a rock and dent it ?

What about servicing & repairs, do you have to go to an authorised ? If that’s Evans then ok but what if the only option is a local that you know is rubbish?

Wouldn’t work for me cos I’m price conscious and also like to have control over the spec so I build my own

Can you drive it as far as you want?
Do you need permission to take it out of the country?
Can you scratch it, damage it with no recourse to your wallet?

Leasing only works in a minority of deals.

Yes, not always, and if you damage your own property it has recourse to your wallet.

People finance new things, and if you want new and change frequently then it could make sense. I could see a case for needing a new bike, i.e. Amateur non sponsored riders etc, who might change year on year?

Not for me, bikes are want not need and I can’t afford what I want at the best of times..! I could see myself leasing a road bike if I was riding heavy mileage, club competition etc. Same as the car – doing the miles I do for work puts a nice, new car into the need category and then leasing makes sense.

Seem to see a lot of websites and shops now not offering things with prices on, and just x per month. Annoys me but people must go for it?

Yes, not always, and if you damage your own property it has recourse to your wallet.

Depends where on the depreciation curve really you are.

Non if my cars will be devalued by a dent or 10.

A lease will always place you in The top of the depreciation. Curve. Those lease seller really have got it stitched up. Get the punters to rent the car through the most expensive period of a cars life and pay the bulk of the depreciation for them.

Great gig.

I think the main problem with leasing is the rrp inflation that goes with it to make lease deals attractive

The cost of lease has to been built in somewhere and it’s been added to the headline cost of the car to the detriment of people who would buy new outright.

Given the ludicrous price of some really rather ordinary cars (30k Passat?!) Compared to lease cost it makes sense to lease rather than buy a new car

If the same happens with bikes then prices go up for everyone

The advert has it imo. Might be worth it if you are interested in keeping up with the latest trends. I am not so no good for me but for some it could work.

I was talking to a handback guy and he was amazed at the condition I handed it back in. He said the vast majority are charged/fine.

I think the main problem with leasing is the rrp inflation that goes with it to make lease deals attractive

There is no such thing as a free lunch. I had wondered how they made money

If the same happens with bikes then prices go up for everyone?

Without 0% finance the cycle industry will contract hugely.

Would you buy a £5,000 bike on 20%APR?

Plenty will buy an expensive bike and pretend/hide behind their monthly payments. If interest rates change we’ll see these sort go to the used market and/or lease.

Just leased a £19k (web site price so dont belive anyone would pay that) Astra for £140/ month 10k mileage / year and including servicing, tax and tyres.

To scale that down to even a £5k bike would mean the cost about £36/ month. But bikes consume more parts than cars and what if the leased bike becomes an out of date “standard”?

Cant see it working.

Bigdean did you take out gap insurance?

Where was the deal? That’s bloody good.