gummibear Posted October 4, 2013 Share Hi All, we will be starting our advertising campaigns in all the countries major bike stores during the month of October, so please look out for these!! Id like to know your guys thoughts on this, will it work, concerns, anything you would like to discuss / bring forward will be greatly appreciated!! If you have any queries around the financing of either road or MTB's , please feel free to drop me a mail and Ill get some info to you.It is being packaged as an insurance included deal, however we have still not got the two linked as yet, so in the interim we can do separate cycle insurance too.Terence@nicolfin.co.za ; leandro@nicolfin.co.za Can i mail you my details?How long before i get the money?I want a Santa Cruz Bronson and a Parlee Da_Hunk 1 Link to comment Share on other sites More sharing options...
TheV Posted October 4, 2013 Share Okay, so I understand the general response tone and message to be "bad idea, we are going to get ripped off..., you are going to be a crook, stuff you, etc". If someone is offering a finance service, and someone wants to make use of it, and the person is credit worthy, and willing to pay the interest {whatever it may be} then I don't see a problem here.Because if it's too expensive, then they won't get customers....If they issue credit to someone who cant afford it, then they won't get paid. And it will be very difficult for them to recover their capitalIf they allow you to negotiate the price and bike yourself, and they just bolt on finance at the end, then there should be no risk of the bike shop inflating the product price and selling you a 1k bike for 10k, etc.Don't overcomplicate it. If the interest rate should be in line with credit card rates, because if you don't pay they can't really recover anything from you... You can't try and save people from making bad credit decisions, personally I think they (credit provider) have more risk and complexity on their end... Good luck Mr Hope, I think if you keep the term short (6, 12 max 18 months) and the rates keen then you just might pull it off. (And it would be *** funny if you start seeing okes in races wearing advertising "You can own this new bike for R699 per month if you race, train and transport this bike with 500 cheap advertising stickers on display, SMS this number, SMS's cost 10 RANDS....) Cav', ChUkKy, fabes and 8 others 11 Link to comment Share on other sites More sharing options...
LazyTrailRider Posted October 4, 2013 Share Before you know it a Pina Dogma costs R500,000 Don't they cost that already? SaKiwi 1 Link to comment Share on other sites More sharing options...
Wayne Potgieter Posted October 4, 2013 Share Can i mail you my details?How long before i get the money?I want a Santa Cruz Bronson and a Parlee You have great taste in bikes. gummibear 1 Link to comment Share on other sites More sharing options...
shaper Posted October 4, 2013 Share If you can't save for it, then you shouldn't own it , especially something you can break on the first ride... Link to comment Share on other sites More sharing options...
Guest Latent Blue Posted October 4, 2013 Share I think I'll Have a beer. Only one of course. One of these! I plan on having "some" (read litres!) of these in Clarens tomorrow BerghoffBrews.bmp My three favourite beers Andyr249 1 Link to comment Share on other sites More sharing options...
gummibear Posted October 4, 2013 Share If you can't save for it, then you shouldn't own it , especially something you can break on the first ride... They do the insurance to,so if you break it then they'll replace it.This is a no risk investment Link to comment Share on other sites More sharing options...
andydude Posted October 4, 2013 Share I think its a better idea to save every month and then splurge when you have the cash in hand. Financing bicyce wil only serve to drive the price even higher.Whats next, residual deals, maintenance plan, lease? Before you know it a Pina Dogma costs R500,000 True that. And except if you commute I guess you can still argue a car is worth more in terms of getting you around even though it depreciates every year. Link to comment Share on other sites More sharing options...
gummibear Posted October 4, 2013 Share I plan on having "some" (read litres!) of these in Clarens tomorrow My three favourite beers CHEERS http://www.marksmayo.com/wp-content/uploads/2011/05/IMAG0180.jpg ChUkKy 1 Link to comment Share on other sites More sharing options...
gummibear Posted October 4, 2013 Share You have great taste in bikes. I'd prefer a BAUM but the sale on carbon will be better than the steel Link to comment Share on other sites More sharing options...
andydude Posted October 4, 2013 Share It's a business so good luck to them. I'm a credit analyst so it would be interesting to know how they are being funded, because that would have a direct bearing on whether it's feasible with the interest they're going to charge. Personally I'm against lending for things like everyday consumption. And like I said, except if you're commuting, cycling is not in my mind a neccesity. @TheV your post is rational, but I can promise you people taking up micro lending is not always that rational. There are 19.7 million active credit consumers in this country (compared to only 13 million people formally employed). Consumers with impaired records total 9.3 million. http://www.link2media.co.za/index.php?option=com_content&task=view&id=19789&Itemid=12 Link to comment Share on other sites More sharing options...
orbeaorca Posted October 4, 2013 Share looks like just another unsecured lending deal. They normally nail you on interest rate and screw you on insurance linked to finance eddy 1 Link to comment Share on other sites More sharing options...
Terence Hope Posted October 4, 2013 Share I do understand you are not always on the hub but this being a discussion forum, you may consider discussing the queries online for all to see. Email is a bait to offer and sell, let's hear about it before going second base. Is this offer only on full bikes as Rifi wants to know, or can we supply a shopping list of items too? At the moment it is only on full bikes and frames , needs to be serialized Link to comment Share on other sites More sharing options...
Terence Hope Posted October 4, 2013 Share Can i mail you my details?How long before i get the money?I want a Santa Cruz Bronson and a Parlee Appreciate the sarcasm and fully understand your apprehension. We don't pay you out, we pay the retailer, we are not in the business of selling bikes. All apps will go through the retailers. Link to comment Share on other sites More sharing options...
Terence Hope Posted October 4, 2013 Share They do the insurance to,so if you break it then they'll replace it.This is a no risk investment As said upfront, the insurance has still not been bolted on, but you are correct, the asset has to be insured as it is secured lending. Same way a car needs to be insured Link to comment Share on other sites More sharing options...
Terence Hope Posted October 4, 2013 Share looks like just another unsecured lending deal. They normally nail you on interest rate and screw you on insurance linked to finance As stated in an earlier post, it is secured lending, item needs to be serialized, we not here to compete with the flyers saying R50 000 loans in 5 mins. Link to comment Share on other sites More sharing options...
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