Mostly
Save, see a bike I like and buy it from savings.
I bought a bike in 2014 with a tax rebate. It got stolen bought a new bike with the insurance pay out in 2019. Sold the frame, bought my current frame. Bits have changed over the years.
Sold a drop bar gravel bike and bought a ridgid MTB with the profit.
Slightly disappointed that nobody has said: "I load myself up with debt for a £10k superbike and my kids go hungry."
Cash is 👑
Slightly disappointed that nobody has said: “I load myself up with debt for a £10k superbike and my kids go hungry.”
I think the people (like me) who'd do that are mostly shamed out of saying it on this forum but all the wonderful superiority that exists in spades on here.... It's very much a middle class, "wealthier than you" forum this place.
I don't think it's deliberate and i love this place and many of it's members are lovely people... but there's really a sense of wealth on here.
I buy bikes second hand - they're really good value for something 12 months old!! £5k on a new bike.....forget that! It saves me a boat load!
I'd never buy anything bike related I couldn't pay off straight away, if Tesco or Barclaycard suddenly decided they want their money back I've got it. I either want it cheaper(Cycle 2 work) or to be in control so I can pay faster on a 0% card, and I never want to pay interest.
Last Cotic I did the frame on C2W and the rest on 0% 24 month credit card. C2W comes out before I see it and then the plan was to pay £100 a month till the other £700 was paid off but as I don't like owing money I always end off paying it faster.
I think most people know deep down If credit cards are a good idea for them or not, I've had 3 or 4 and never paid 1p in interest.
I save up monthly into a “new bike pot”. This is just a savings account that I don’t touch until there is enough for what I want.
I like this idea but I'd never spend it, I've always been one of those people that once it is in savings I won't ever touch it.
I buy bikes very rarely, usually on mega discount, in this case the start of the CRC mega sale bargain Nukeproofs. Of course I didn't anticipate them being on sale as long as they were, but in this case I just used a credit card. At £1600 it's less than 6 months to pay off. I do have a weekly pocket money payment which goes into a separate account - I stopped that for a year to pay off most of that purchase.
Before that, I bought a road bike in 2020 for £2k, that was cash as we had a windfall. In both cases I had 'needed' them for many years - I had been riding a too-small road bike since 2007 which was the last time I'd bought new bikes, after an insurance claim. The bikes that were claimed for were bought between 2000 and 2005 and even then only one of them was full price from another windfall I should have invested. So I thought after 20 years of regular cycling a new bike was justified.
If you're asking how I afford top end fancy bikes - I don't.
I sell coke and turn tricks for MAMILs. 😉
Thinking about the last new bikes I have bought:
Pace RC627. Bought the frame and forks during sales, mostly funded by selling other bits. Rest of the bike was then bought when I could afford the part and when PSA's turned up.
On One Whippet. Selling retro and spare cash.
Ragley Trig. C2W.
Orange Segment/Stage 5. Got it in the sales and made over half by flogging my previous 5 29. Think the rest was a bit of retro selling and spare cash? Frame cracked so it was replaced under warranty.
Orange P7. C2W.
Orange 5 29. Same as Segment except sold a 5.
I've had a good 15+ years on the retro scene and used to buy old bikes all the time. Once I got an eye for it bargains would pop up everywhere and it was easy to fund the hobby, and new bike purchases by building one good bike out of five others then selling on the left overs. Even though I've not bought much for a few years the kit I had left has paid good chunks towards new kit although the well is running dry and I'd be in to the bikes I don't really want to sell if I needed some cash.
Orange full suss bikes used to really hold their money too so you could keep a bike a few years then sell for a good % of the new model. With price rises, second hand bikes not holding their money and the retro scene not being what it was though means it could be a while before I buy a new full suss.
Recently purchased a Planet X Tempest, final total was about £2200. Decided to finance it interest free over 4 years at £45/month. Inflation erodes debt, so im happy with my choice.
Majority over the years have been on interest free deals.
Don't spend savings when I can pay from income.
Interest free credit card for me, usually having enough in the bank to pay it off whenever. I always make only ONE purchase on ONE interest free card at a time though. I would never load up more and more.
Now if we're talking about how to pay for a van? I'm still figuring that out...
I have a 35mm front wheel which I think is too wide, and a set of old brakes
Seriously considering buying a new 30mm front wheel, and then but a 29+ frame for the wheel and brakes
I have a problem
I had an interest free credit card finished early in the year... but I forgot to cancel the DD... ended up £200 credit on a credit card.. Doh! 😀
The only credit I've done in the past was an interest free loan from work. Now I just buy up front. I have a pretty constant stream of parts being sold on ebay so cash flow is rarely an issue.
But I did regret every new bike I've "just bought". It's much more fun and satisfying watching a bike evolve to perfection with strategic purchases.
If you’re asking how I afford top end fancy bikes – I don’t.
These are the choices we make.
I'm almost 50 and acutely aware of my slowly diminishing capabilities. What time I have left to ride 'proper mtb™' will be spent on equipment to enhance the experience. Life's too short to spend what you love doing with shiite equipment.
My current bike was bought with cash but then this was all but recouped (Shortfall of £200 ) by selling the Carbon Nukeproof Mega I had just built from the CRC frame offer and the sale of the Mondraker frame it had replaced.
In the past I've always bought end of season bargains,funded by savings.
I think the people (like me) who’d do that are mostly shamed out of saying it on this forum but all the wonderful superiority that exists in spades on here…. It’s very much a middle class, “wealthier than you” forum this place.
I don’t think it’s deliberate and i love this place and many of it’s members are lovely people… but there’s really a sense of wealth on here.
My anecdote is always from a few years back. 2 threads on the front page, one "what do you carry on a ride" and the other "do you carry a first aid kit".
If you beleived the first aid kit thread, a good 80% of us were carrying full first aid kits, which was odd, as three quarters of us from the other thread were minimallist packless riders.
I think the people (like me) who’d do that are mostly shamed out of saying it on this forum but all the wonderful superiority that exists in spades on here…. It’s very much a middle class, “wealthier than you” forum this place.
I tend to think of it the other way round. Those of us who have less to spend on toys tend to be fearful of debt as we don't have another "pot" to dip into in the event of a proper emergency outlay.
Savings if possible but Cycle2Work as well.
I often buy secondhand - but I am a handy mechanic usually.
Just got a 4year interest free loan of 3k from the Scottish government for an ebike. Repay over 4 years. Own money staying in Premium bonds.
I think the people (like me) who’d do that are mostly shamed out of saying it on this forum but all the wonderful superiority that exists in spades on here…. It’s very much a middle class, “wealthier than you” forum this place.
I would second what scotroutes says - I am very fearful of debt and try to avoid it at all costs. In fact, our avoidance of larger moortgages and loans for things has in fact reduced our wealth as we live in a smaller, cheaper house than many friends. I do genuinely run our bikes as cheap as I can, mrs_oab's new eeb is the only bike over £1500 we have ever bought ourselves, and most have been under £1000, last one was £500. We have a 'fun fund' which saves up and buys things as we can afford it.
And yes we are well off in my eyes, but we spend a *lot* less on bikes than many on here. And I couldn't entertain a large bike loan other than C2W for a bike...
Occasional whole bikes - Cycle to work then usually fairly static bar minor upgrades
Most bikes - built from 'bargain' parts located from all of the usual channels and funded by various means both above and below board (from my wife's perspective). This is a general cycle of upgrades, changes, etc
I tend to think of it the other way round. Those of us who have less to spend on toys tend to be fearful of debt as we don’t have another “pot” to dip into in the event of a proper emergency outlay.
Although conversely, some will take the known quantity of a monthly payment for their toy, rather than deplete their rainy day fund which might be needed for the boiler or car or roof.
All in all, the two camps of "pay monthly for everything on 0% credit" and "only buy what you can afford from your savings" are equally valid and equally viable for most people...
but you have to commit to one method or the other. If you live your life on monthly payments for your car, new kitchen, phone, holiday etc, its going to take a long or (infinite) amount of time to build a meaningful savings pot. And someone who runs their life in that camp might seem a bit suprised when someone from the other camp can just drop a month's gross pay or more on a bike.
Some people pay monthly for a car lease an amount that makes my heart skip a beat... no way would I want that payment coming out every month... but that same amount x48 I just paid cash for my car (and consider it totally worth it and a reasonable investment given the amount of time I spend in it)
When there is money in the bank & we agree it's affordable (we have no separate bank accounts)... Except one, which was on C2W, but as we own the company it's just a different bank account with the same affordability criteria.
C2w every time. It's deducted at source, never hits your bank account so doesn't really count as real money.
I've just taken delivery of a £3700 Trek. It's my first new mtb for 7 years. It was heavily discounted so I happily paid the admin fee to the bike shop. All in with C2W savings I'll be paying £1300. My old bike will be passed on to my son.
Just got an ebike,
bike 4k sold old bike for 350 quid. rest on credit card.
Got new bike and all is good 🙂
works out about right for me.
honourablegeorgeFull Member
1 – Generally buy frames, and build from there
2 – I always set a strict budget, do a spreadhseet of all my costs, and try to never go much more than a grand over it
3 – I sell all the spare bits to recoup every last penny
4 – Except those wheels, if I pick up a hardtail frame they’d be ideal
Amazing. I've been there. More than once.
depends on money situation and amount, always on credit card to earn 1%, maybe through C2W or a 0% finance offer. depends.
Although conversely, some will take the known quantity of a monthly payment for their toy, rather than deplete their rainy day fund which might be needed for the boiler or car or roof.
All in all, the two camps of “pay monthly for everything on 0% credit” and “only buy what you can afford from your savings” are equally valid and equally viable for most people…
Yep. I think there's a mindset thing. For me, I think it just harks back to my upbringing. My folks were very debt-averse.
but you have to commit to one method or the other.
This is binary thinking.
Its perfectly possible to position yourself along the sliding scale between the two extremes you describe. I save and use finance, because one allows me to do the other more effectively.
Mostly I buy bigger things like shiny, shiny bicycles or sofas (boo) on finance, because thats where you find the low cost/free borrowing.
I think it's useful to admit that I am very privileged to be able to spend the amount of money that I do on a hobby.
Last bike I bought was about 18 months ago. I used an inheritance...I mean I still haven't got the inheritance money and also don't know how much it will be. But still, fingers crossed by the time the money arrives everyone will have forgotten I have already spent it and then I can buy another bike 😜😜😜
The fact that I have three MTB's and they are all still 26" paints a picture about my bike spending habits!
In fairness I have a reasonable road bike, but I bought it as cosmetic damaged ex-demo and slowly upgraded bits, as it was a bit of a mid-life crisis purchase, but again, it is a rim brake bike! My winter/gravel bike was a very cheap Ridley frame, and all the parts off my previous winter/gravel bike.
I'd love a new long/low/slack 29" full suspension bike, but the money just isn't there, and the 26" still make me smile.
I just buy stuff that's cheap enough to get with cash I have in the "slush fund". the most expensive bike I've bought in the last 20 years was £2000, the last one I bought was £350
Cash on the barrelhead!
Cycle to work scheme.
Only new ones i've bought have been through the cycle to work scheme. Everything else has been 2nd hand frames, forks etc
Credit card, that is then paid off the next month. And it’s only the credit card rather than the debit as I want the extra consumer protection.
If I can’t afford it I don’t buy it and wait until I have the money saved.
Bikes, likes cars, are not things I want to be carrying debt for.
