I build bikes myself and replace parts or upgrade as I go along. The amounts I spend in one go are fairly modest and I fund it from short term savings.

I cycle almost every day and will happily open my wallet to get what I want, but thankfully my tastes have settled at the Hope/XT/105/Cotic/Surly (sensible and not too flash) end of the market.

Done the saved route and used the LBS which offered 0% finance. Last bike (Whyte) was finance cos it was the last one of the right size and I loved the demo! Having said that lots of LBS use the bike finance chaps and it works well. Downside is the temptation of the SC Hightower……..

I pay cash. Finance is fine in principle, but (a) I don’t spend money I don’t have and (b) the return on the money if I keep it at bank compared to the hassle if I miss a payment on the borrowing for some reason just isn’t worth it.

🙂

Last one was credit, kind of a good solution at the time. Took a demo bike out, managed to damage it, had a chat with the LBS (good mate) and we worked out a price as there were no more of that bike left in the country (pointless demo for him to keep running) damage was minor but would impact resale. We did a price, cash flow was tight so we put it through his magic finance calculator and both left happy.

Triggers broom is what I’ve always done too until now, when I hit the wheel size issue.

Got 3 bikes atm. Hardtail, 160mm and fatty, all 26″.
I needed frame, forks and wheels minimum so quite a lot of cash.

Usually through blood sweat and tears, some degrading grovelling, and ignoring threats of divorce.

HTH

0% credit card to buy. Then pay it off from savings, bonus, or over a few months with ‘spare’ wages.

2nd hand
C2W
Sold old bikes, saved for new one…
Last new bike was from T***z who were offering a £3.5k bike for £2k at 0% finance over 3 years. Also got 5% cash back through reward scheme (like quidco) At the time I had the cash, but 0% means I’m paying £60ish a month and the rest is in crappy savings. I’m not usually one for finance but at 0% it’s a no brainier. It also means I can’t look at new bikes till this one is paid off!

A mixture.
I mostly build my bikes as off the shelf never ever give me the spec I’m looking for.
I buy parts 2nd hand and new in a sales or full retail.
The last off the shelf bike I purchased as a Cervelo s3. I wanted one but didn’t want to buy at full retail so went looking for a deal.
In the end I managed to get a new one from Spain when the euro rate was poor. The dealer had lost his dealer rights so I paid 1700 delivered. Just over half price with full guarantee.

I’m lucky to have money in the bank, but if I can get a deal at 0% interest and a good price I see no reason to spend my money.

Cash. If I can’t afford it I won’t buy it until I can. Never know what’s around the corner plus the thought of taking out credit to buy a luxury is madness in my eyes. As for “leave my money to earn interest”…you what?! The rates are cr*ap right now!

you keep the money in your own account making interest!

If you get £3k on an interest free and keep £3k in the bank, then use this to pay off the £3k over 2 years you’ll probably make about £10 in interest…

For me, buy on a credit card, pay the statement when it arrives. That way it costs me no interest but I still get the cc protection.

Despite buying everything up until now on C2W, I think I might build my next bike, as I’ve been hankering after a Bowman Pilgrims frame for a while..

Last one was 0% finance, before that saving up. The finance was the difference between getting it at the start of the summer and the start of winter. I did think long and hard about it though!

Another Triggers Broom buyer here..

Occasional new frame, but mostly 2nd hand bits and online shops for discounted parts.

Frame on finance. 18 month normally as I tend to keep the bike 2 years, save for the 6 months for the deposit for the next one.

Parts where possible are from existing bike or new in sales/deals.

My worry is next bike will be 650b which means “new” wheelset and forks.

I have one bike from the bike to work scheme, 1 mtb bought new and a second-hand one. I don’t have a credit card or loans, I pay cash because I choose to have a small house and inexpensive car, which leaves me with enough cash to spend on bikes and kit.

My cash ISA gives me about 1.1% IIRC.

well that’s still > 0% 😉

But also, if you shop around there are better deals, current accounts paying 3% etc, not to mention anything else (higher risk) you might be investing your money in.

Having said all that I don’t use finance, I’m a save and spend guy, the only finance I have is my mortgage, I just hate owing money and am terrified of having to service a debt after I’ve either destroyed the product or end up in a situation where I can’t afford to pay it in future.

Saving up. I’ll buy new parts but both of my frames are second hand- Trigger’s brooms here too. If I can’t afford it I don’t buy it.

Where are these bike shops offering cash discounts? I’ve never had anyone offer money off for cash when I’ve asked.

C2W is hard to beat even if you buy on an interest bearing credit card! Not that I’d ever do that.

Jamis Gravel Bike £700- Corporate Health Account
Chromag circa £2100- Insurance Money
Surly Krampus £2300ish- Mixture of Corporate Health Account, CRC Gift Voucher for Warranty, won the frame and a few spare parts.
Surly Karate Monkey £800ish – Corporate Health Account and a few spare parts.
Previous few bikes had been a Trigger’s broom sort of thing.

I save the money, pay by credit card then promptly pay that off and claim the air miles.
If its really expensive, pay half cash and the other by credit card, my LBS understands that sometimes a gentleman may need to keep some secrets from the wife!

Cashmoney.

Or sometimes card (but from savings).

Not worth the hassle of credit for my meagre needs.

“If you get £3k on an interest free and keep £3k in the bank, then use this to pay off the £3k over 2 years you’ll probably make about £10 in interest…”

Interested in the maths on that .

excel spreadsheet fag packet maths says it would be >230 quid over 3 years at 5% (which i am getting in an account on 3k currently) – even at 1% its 45 quid.

for the sake of a bit of discipline – setting up at direct debit thats free money over spending your own money. I’m a big fan of stoozing BUT that only works if its a carefully thought out planned purchase otherwise your just spending money for the sake of spending.

FWIW for bikes i spend on an interest bearing credit card and pay off at the end of the month before interest applied – but i stooze on general spending and put the end of month statement value into savings until the end of 0% – before paying off , canceling the card and starting again.

All of this goes out the window if you have existing interest bearing debt as your interest is likely more than that of the money your earning.

I did the same calc as Trail Rat and came out with different numbers 🙂 But pretty similar. I have a Santander account paying 3%, and according to my fag packet that would make me £131.25 “profit” over the three years on the £3k 0% example. £130 is £130, but over three years it’s an average of <£4 per month and that’s not going to change my lifestyle very much. I’d feel happier with the peace of mind that it’s all paid for and out of the way.

Having said that, the last time I bought a complete brand new bike was 1998, and that was only because it was heavily discounted at the end of the season. Everything since is s/h for whole bikes, a mix of new & s/h for parts, and a few nice freebies from a relative who’s in the bike trade 😉

Matched betting, latest bike will be paid for courtesy of Paddy Power, Ladbrokes, William Hill… etc.

Next one might not be mind they have pretty much all banned me now 🙁

5% (which i am getting in an account on 3k currently)

More info definitely required here! 🙂

Money saving Expert dot com have a list of the best 0% credit cards, some offer you up to 24 months now (or more, i forget) – finance on any bike!

mine is a legacy with n ationwide but tsb doing 5% on 2k current and thats without searchin.

Drove a 5 hour round trip for my last one as the shop had the ones I wanted to see in stock and good length of 0% on offer. They ended up offering 10% off cash or full RRP on finance. So ended up paying cash. Not quite what I’d planned for but not a major disaster I guess.

Have done both ways and C2W in the past, usually look more at what else I’m paying out monthly then balance the risks against that.

my first mtb was given to me. my second was a used Marin i paid £600 for…but that was in 1996
first ever bike i bought from a shop was a gt palomar in 1999 after the previous one got stolen..cost me £175 brand new…i was skint after blowing all my money doing up the Marin
after that i’ve only ever bought the frames/components separately
fast forward more than 10 years and i bought my next complete bike 2 years ago…it was my hybrid bike for commuting to work on…bought through cyclescheme
of the about 26 bikes i’ve owned in the last 26 years only 3 have been complete bikes
i’m planning on getting a top end bike for my 40th next year…i doubt i’ll be able to pull together £4-5k in cash so i’m saving up as much as i can for the deposit then the rest will have to be on finance

Mainly cash. I have 8 bikes. 6 of them were cash (technically credit card but paid off on the next statement due date so no interest charged), 1 was C2W and 1 was 0% finance (with the money in the bank to cover it).

Sold my motorbike, used the cash to have our bathroom redone, and bought a mountain bike with what was left. Kind of reverse midlife crisis!

I got hit by a taxi and broke my collarbone, Leigh Day did their thing, so I bought a 2nd hand T275c

I usually buy new and secondhand parts funded buy the sale of my own bits.
Although the last full bike purchase was on 12 months 0%.