Bike Life finance, are they legit?

[BDF]

Its not about the bike

LA obviously agrees...

[Balkan_Rider]

Agree that Bike life credit is cheaper than some credit cards, also agree that buying an expensive bike when you can't afford it is probably not the right choice. Be wise, think it through properly. My advice would be to use credit when you get an amazing deal but just don't have the cash at that moment, but are confident you will pay it off much sooner. Use credit to your advantage.

[BigDL]

14 months later.....

[intern]

GETTING FINANCE FOR TOYS NEVER A GOOD IDEA, JUST SAYING

 

IF YOU CANT AFFORD IT CASH DONT GET IT,

 

GET LAST YEARS MODEL HELL GET 2010 YEARS MODEL RATHER

Best advice ever. I got my 2015 S-Works Tarmac for $4500, so much less than $12k that even 'no warranty' will put me off of it.

[lerouc]

Agree that Bike life credit is cheaper than some credit cards, also agree that buying an expensive bike when you can't afford it is probably not the right choice. Be wise, think it through properly. My advice would be to use credit when you get an amazing deal but just don't have the cash at that moment, but are confident you will pay it off much sooner. Use credit to your advantage.

Good advice but i think they guys that opted for it already paid it off by now...

[Steven Knoetze (sk27)]

Would be coll to hear from some Bike Life client, 12 or 18 months in.

How they still feel about it, etc.

Industry moves so quickly but also if they bought before the rand meltdown it might not have been that bad. New bike prices have rocketed!!!

[Ride4Life]

Just spent some time reading all the post around BikeLife.

Good Read so here is my story.

I financed a bike with them in 2014.  Service WAS amazing.

As time went by there were the odd niggles like double debit orders that they reversed asap and even reversed the admin fee as apology for the mistake and all was good.

You send a mail with an enquiry and not even 2 min later a response.

 

I would like to call this the honeymoon phase.  As my financial status got better and I started looking at settling accounts I noticed some dodgy stuff.

2 Months went by with no debit order running and it wasn't due to lack of funds.  If only.  But yet the interest kept on going.  Then depending who was cooking the balance sheets they would add in the monthly admin fee of R57 and then only calculate the interest.

 

My best is I settled amy account with them the 12th September and sent them Proof of payment.

come the 30th September they debit me.  I sent a mail questioning this the 1st Oct.  Gen from Bikelife only responded the 3rd Oct asking her accounts department to look at it.  The 21th Oct they sent me a statement saying they adjusted my account to zero.  But no mention of the debit they took.  I responded to them the same day asking about the money they debited from my account only to to get copied in a mail to accounts again asking about this on the 24th Oct.

 

Since then I forwarded them a statement the with the amount they owe me and just cause I can added R57 admin fee and some creative interest on the 1st of Nov.  No response.

As I am typing this I notice a response today all of a sudden on the 22nd Nov that they apparently have loaded the payment to refund me the original amount.  So how about the interest you have been making on my money for the last 53 days?

 

I understand sometimes we really want something and we will go to great extends to buy it.  But Bikelife is and will never be the solution.  A good business model yes.  But the people running it? They are in trouble

[Ride4Life]

Just spent some time reading all the post around BikeLife.

Good Read so here is my story.

I financed a bike with them in 2014.  Service WAS amazing.

As time went by there were the odd niggles like double debit orders that they reversed asap and even reversed the admin fee as apology for the mistake and all was good.

You send a mail with an enquiry and not even 2 min later a response.

 

I would like to call this the honeymoon phase.  As my financial status got better and I started looking at settling accounts I noticed some dodgy stuff.

2 Months went by with no debit order running and it wasn't due to lack of funds.  If only.  But yet the interest kept on going.  Then depending who was cooking the balance sheets they would add in the monthly admin fee of R57 and then only calculate the interest.

 

My best is I settled amy account with them the 12th September and sent them Proof of payment.

come the 30th September they debit me.  I sent a mail questioning this the 1st Oct.  Gen from Bikelife only responded the 3rd Oct asking her accounts department to look at it.  The 21th Oct they sent me a statement saying they adjusted my account to zero.  But no mention of the debit they took.  I responded to them the same day asking about the money they debited from my account only to to get copied in a mail to accounts again asking about this on the 24th Oct.

 

Since then I forwarded them a statement the with the amount they owe me and just cause I can added R57 admin fee and some creative interest on the 1st of Nov.  No response.

As I am typing this I notice a response today all of a sudden on the 22nd Nov that they apparently have loaded the payment to refund me the original amount.  So how about the interest you have been making on my money for the last 53 days?

 

I understand sometimes we really want something and we will go to great extends to buy it.  But Bikelife is and will never be the solution.  A good business model yes.  But the people running it? They are in trouble

Just received a mail from Devlin with an apology for the bad experience and that they are trying to resolve it asap.  Just sad it had to come to this point. 

[TAAHIRWP]

Just received a mail from Devlin with an apology for the bad experience and that they are trying to resolve it asap.  Just sad it had to come to this point. 

So you still with them? how they treating you now? still dodge stuff going on?