Bike finance - CRAZY EXPENSIVE

[Patchelicious]

As is the same with a motor vehicles. And bicycles has become so expensive so I don't see how you can do it otherwise. If you buy a bike on a credit card which is normally between 22-29% interest bike financing is a bit cheaper with the interest between 10-15% depending how many months you pay it off. It is better to save for your bike but it will take forever.

The interest rates are better with a bike finance, BUT.. You can still negotiate the sale price of the bike down if you buy it yourself.

 

You need to ask yourself why they can offer lower interest rates, then ask yourself why they don't give you retail discount and their financial model starts making sense.

[Muddy]

As is the same with a motor vehicles. And bicycles has become so expensive so I don't see how you can do it otherwise. If you buy a bike on a credit card which is normally between 22-29% interest bike financing is a bit cheaper with the interest between 10-15% depending how many months you pay it off. It is better to save for your bike but it will take forever.

 

Not even close to being the same as a motor vehicle, which is a necessity for most people. And why you would want the best and most expensive for the sake of having it is beyond me. But as was said previously, willing seller, willing buyer. The truth remains, if you want to incur debt for a toy then interest rates and T&C should be least of your worries.