geemobee Posted January 24, 2014 Share Damn, that is high. But it also depends on the term of the loan - 1 year or 2 years... And new bikes have warranties. 2nd hand bikes, you insure. 2 - 3 year term What are the warranties like on the new bikes? Link to comment Share on other sites More sharing options...
canadonis Posted January 24, 2014 Share Lets say 8% higher. What are the benefits of buying new? .. do all new bikes have warranties? Please understand the following if you have cash the lbs will give you between a 10-20% discount off the normal retail price off a bike. Let's use a practical eg last yr my friend bought a Scott 940 spark,retail was 25500 eventually paid 21000 that was about 18% discount. According o bike finance the current bike retails for 31900 which means applying he same disc you bike if paid cash should cost pu 26 300, with their payment scheme you pay 6200 upfront an total amount paid is 38700 which is 12 400 more than cash amount. This effectively means you payin about 48% more than the bank loan. Check if you have any penalties on early settlement. If in 2 years u sell the bike you will get market value on initial new price of 26k not your 38k spent, so value will be around 15k so for along as you will be cycling you be hoes sing because with your first purchase you have lost 23k. The same applies to all your kit too, full retail price + interest. These guys make money of your circumstances if you can avoid do so. Link to comment Share on other sites More sharing options...
geemobee Posted January 24, 2014 Share Please understand the following if you have cash the lbs will give you between a 10-20% discount off the normal retail price off a bike. Let's use a practical eg last yr my friend bought a Scott 940 spark,retail was 25500 eventually paid 21000 that was about 18% discount. According o bike finance the current bike retails for 31900 which means applying he same disc you bike if paid cash should cost pu 26 300, with their payment scheme you pay 6200 upfront an total amount paid is 38700 which is 12 400 more than cash amount. This effectively means you payin about 48% more than the bank loan. Check if you have any penalties on early settlement. If in 2 years u sell the bike you will get market value on initial new price of 26k not your 38k spent, so value will be around 15k so for along as you will be cycling you be hoes sing because with your first purchase you have lost 23k. The same applies to all your kit too, full retail price + interest. These guys make money of your circumstances if you can avoid do so. That makes a lot of sense! Thanks. Cash is king Let the saving begin, which will give me enough time to scout for bargains. Just a pity that it would delay my time on 2 wheels. Link to comment Share on other sites More sharing options...
g4mb1t Posted January 24, 2014 Share don't forget the bike carrier, how are you going to get the bike to and from the LBS? Link to comment Share on other sites More sharing options...
canadonis Posted January 24, 2014 Share That makes a lot of sense! Thanks. Cash is king Let the saving begin, which will give me enough time to scout for bargains. Just a pity that it would delay my time on 2 wheels. I hope I didn't put a spanner in the works but you def would be a lot better off in the long run. Short term sacrifice for long time reward. There are tons of bargains on the hub just scout around, but cash gives you the position of strength to negotiate. Good luck Link to comment Share on other sites More sharing options...
geemobee Posted January 24, 2014 Share don't forget the bike carrier, how are you going to get the bike to and from the LBS? Good point, what would you suggest? Link to comment Share on other sites More sharing options...
geemobee Posted January 24, 2014 Share I hope I didn't put a spanner in the works but you def would be a lot better off in the long run. Short term sacrifice for long time reward. There are tons of bargains on the hub just scout around, but cash gives you the position of strength to negotiate. Good luck No it was a good perspective check. I wonder if BikeLife would finance a discounted deal from the LBS ?Like you mentioned where the LBS gives you a discount as part of the negotiations. Link to comment Share on other sites More sharing options...
canadonis Posted January 24, 2014 Share No it was a good perspective check. I wonder if BikeLife would finance a discounted deal from the LBS ?Like you mentioned where the LBS gives you a discount as part of the negotiations. Worth a shot, then maybe the deal won't be so bad after all; looking at the deals advertised on the hub it appears lbs specific not finance specific. Cana Link to comment Share on other sites More sharing options...
brian1 Posted January 24, 2014 Share I have been shopping over the last couple of weeks after asking a few questions and driving from LBS to LBS,Here is what I have so far and what it cost, not all was bought at the same place. Bike Merida Big 9 lite 1000 R13500 considered 2nd hand but measured for a 21inch and no so many of those around and I got impatient and wanted a warranty.Helmet Bell R700Bib shorts x2, Assos Uno and Merrel, R1800 for both, Assos big special.Bottle cage R150Mtb Shoes R600Gloves R170Multitool R160CSA license R110Serengeti reg R130 Still want in order of priority:Tubeless conversion R500, Maxxis tyres came with the bike.Camelbak, budget R1000Pedals, budget R600Cycling top R400 I initially set my self a budget of R20k and with this lot I am close to that.I already had a carrier. I am doing my first race at Serengeti. Can't wait. Good luck with your shopping. Link to comment Share on other sites More sharing options...
geemobee Posted January 24, 2014 Share I have been shopping over the last couple of weeks after asking a few questions and driving from LBS to LBS,Here is what I have so far and what it cost, not all was bought at the same place. Bike Merida Big 9 lite 1000 R13500 considered 2nd hand but measured for a 21inch and no so many of those around and I got impatient and wanted a warranty.Helmet Bell R700Bib shorts x2, Assos Uno and Merrel, R1800 for both, Assos big special.Bottle cage R150Mtb Shoes R600Gloves R170Multitool R160CSA license R110Serengeti reg R130 Still want in order of priority:Tubeless conversion R500, Maxxis tyres came with the bike.Camelbak, budget R1000Pedals, budget R600Cycling top R400 I initially set my self a budget of R20k and with this lot I am close to that.I already had a carrier. I am doing my first race at Serengeti. Can't wait. Good luck with your shopping. WOW well done. Exactly what I had in mind. Good luck for Serengeti Link to comment Share on other sites More sharing options...
schizo Posted January 24, 2014 Share My approach to this was I wanted to start riding first, but I didn't have a very big budget, Also didn't know if I was going to enjoy it or not, So I got a fairly cheap bike a helmet and a few other spares, had flats, normal tshirts and shorts, I loved it and was hooked, so following month got a pair of shorts, gloves, glasses and a bike rack, following month got some nice scott mtb shoes & cleats, and so it went, Now I'm at the stage of saving for a new bike because I realized I bought too cheaply, but every month I had something to add to my riding experience and no loan to worry about. geemobee 1 Link to comment Share on other sites More sharing options...
Wayne Potgieter Posted January 25, 2014 Share Um. Most of the stuff suggested here is to improve your riding/comfort level. Honestly speaking...the only things that are essential is a bike and a helmet. Dont get me wrong, you should eventually get all the other stuff...but to start out, all you need is a bike and a helmet. geemobee and usxorf 2 Link to comment Share on other sites More sharing options...
Dubber Posted January 25, 2014 Share No it was a good perspective check. I wonder if BikeLife would finance a discounted deal from the LBS ?Like you mentioned where the LBS gives you a discount as part of the negotiations. I don't see why not. You tell them you want a loan of R20k, they check whether you can afford it - simple. I don't think they care what bike you are buying? Unless they are also getting kickbacks (or giving kickbacks) to the bike store. They don't use the bike as security - it's an unsecured loan. So I think make/model should be irrelevant. G Link to comment Share on other sites More sharing options...
Dubber Posted January 25, 2014 Share Um. Most of the stuff suggested here is to improve your riding/comfort level. Honestly speaking...the only things that are essential is a bike and a helmet. Dont get me wrong, you should eventually get all the other stuff...but to start out, all you need is a bike and a helmet. yep - agreed. If money is tight (and when isn't it), buy a cheap 2nd hand bike. Even if you replace it after 6 months (or when you've saved enough) you won't loose much - you can probably sell your R5k bike for R4k. If you buy a cheap new bike and sell after 6 months you are probably loosing a 3 or 4 times that amount. The benefits of riding a cheapie:You learn to do your own maintenance quickly You can do you own maintenance without fear of trashing a R30k bikeYou will appreciate a new bike so much moreYour bike will probably be heavy - so when you get a new bike you will fly like the wind! Link to comment Share on other sites More sharing options...
martinsnyman Posted January 25, 2014 Share Monday is too far.... just kidding, there is actually no rush and I prefer doing my homework first. I would like a new bike, should I bump overall budget to R20k then?Sell that bike in your profile pic, and then phone me - I will take you out shopping! Link to comment Share on other sites More sharing options...
martinsnyman Posted January 25, 2014 Share Ok serious - you sound like you have decided to go for this Mtb thing, my recommendation: Bike - 16.5k, buy a second hand 29er dual suspension.Ghetto tubeless conversion - R 500- if not already done.Bell Yukon Helmet - R 600Serfass MTB shoes - R 800 - SolomonsShimano m520 pedals - R 450 - cycle lab, get a price at Solomons as wellAnatomic bib - R 450 make sure it fits properly!Long finger gloves - R395 anywhere, make sure they fit!Anatomic shirt - R 250Socks R 50First ascent sweat band - R 50Camelback rogue 2l - Buycycle - R 779CO2 pump R 893x co2 cannisters - R 10 each cycle lab1 x spare tube with sealant - R 85Tubeles plugs - R 20 solomonsTubeles screwdriver thingy with small plugs - R 20 cyclelab2 x Tyre levers - R 20 anywhereRyder floor pump - R 300 solomonsBasic cycling computer - R 200Multitool - R 285Quick link R 20Sunnies - The hub - R 200 Total - R 22 073.00 If you can manage this, you will not need anything else for quite some time and you will have many happy, comfy miles from the word go. Edited January 25, 2014 by martinsnyman Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now