Where is BikeLife?

[Devlin Fogg]

That is an interesting story about BikeLife.I never had any problems with them, ever. 

 

Before I bought my Anthem bike, I saved up a year for it (which was like a water torture treatment - very very long wait as I did not have any other bike then). And by the time I finally could buy it, it was just sheer bad luck that the bike I wanted was sold out and I had to buy the next year model (which was more expensive and above my total savings).

 

So I thought "waddehel, willie nog wag nie" and went to BikeLife (as suggested by the bike shop where I ordered my bike) because their terms were even cheaper than a getting a credit card or any other loan option. Their invoices (and prompt responses) was top notch. When I paid off my last instalment, they promptly closed my debt account, and send me proof of everything.

 

Just curious on why they are gone?

Hi Groen. Bikelife was not able to raise further funding to keep lending, so they had to stop.

[GroenHoender]

Hi Groen. Bikelife was not able to raise further funding to keep lending, so they had to stop.

 

Thanks. A pity. Will consider my choices with Yonda. Wife is hesitant but I saw how much that e-MTB impressed her. 

[Harryn]

Actually wanted to keep my current Giant Anthem bike and get a Giant e-bike as extra. But was shocked to find out how much value it has lost over a year's period (bike itself is less than 1.5 years old). Plus service cost is also increasing.

 

According to the Giant sales person in Durbanville, it is due to SA's poor economy and bicycle market (high costs to import and distribute). Secondhand values are dropping like dead flies while new (normal) bikes prices are skyrocketing.

Quite ironically, in these 2 paragraphs you make an exceptionally strong case for *never* financing a bike, even though I get that this was not your intention.

[PingPong]

Financing an e-bike..... priceless

[Shebeen]

Hi Groen. Bikelife was not able to raise further funding to keep lending, so they had to stop.

They still got some videos on YouTube.

 

Maybe ran out of cash by spending it all on bike trips like this Heli flip in the Drakensberg!

 

https://youtu.be/GFosh-QAONQ

[Slowbee]

Quite ironically, in these 2 paragraphs you make an exceptionally strong case for *never* financing a bike, even though I get that this was not your intention.

Is your coffee finished yet ?

[Harryn]

Is your coffee finished yet ?

Long gone bru. I really enjoyed! Actually, I was almost over my addiction, and then you caused me to relapse. [emoji6]

[Slowbee]

I am tempted to say that I was bringing you  back to the light, but recent mutterings on the Hub might construe that in the wrong way.

 

So I will say this .... I will have to keep the next batch for me then ..... I mean for the guys at work.

[Devlin Fogg]

They still got some videos on YouTube.

 

Maybe ran out of cash by spending it all on bike trips like this Heli flip in the Drakensberg!

 

They were actually two separate entities. There was a finance business and a media business. Different partners mostly, with two common partners, if that makes sense. Me being one of them. Now it's just myself doing Yonda, and a re-branded media side called On the Trail. But yes, flying in choppers in the berg was awesome.

[PhilipV]

I

 

So I will say this .... I will have to keep the next batch for me then ..... I mean for the guys at work.

"guys at work" I thought you are the sole man at work? But if a bag of coffee keeps those lovely ladies happy, then Harryn's loss is for a good cause.

 

On that note, Slowbee, you are hereby formally invited for a coffee when I have an office day again.

[Slowbee]

"guys at work" I thought you are the sole man at work? But if a bag of coffee keeps those lovely ladies happy, then Harryn's loss is for a good cause.

 

On that note, Slowbee, you are hereby formally invited for a coffee when I have an office day again.

ssshhhhhhhh dont say anything about soul man.

 

they might get the wrong impression.

 

When next you in the office would be totally great !

[Shebeen]

They were actually two separate entities. There was a finance business and a media business. Different partners mostly, with two common partners, if that makes sense. Me being one of them. Now it's just myself doing Yonda, and a re-branded media side called On the Trail. But yes, flying in choppers in the berg was awesome.

Well at the end of the video it's advertising bike life finance, so it appeared to be very related to me Joe public. We can be even more skeptical and say Heli flying would be an excellent way to expense some profits and reduce that pesky tax bill.

 

I'm totally biased because I think financing high end bikes is a terrible idea for most people. If the business required more funding to stay afloat, then it might not be the best idea for both parties.

What I am going to concede -

a) you've kept your name the same and not tried to hide behind the previous business closing

b) an interest rate of 14% ain't bad for something like this.

 

So I suppose good luck, more bikes on the trails is good for everyone n the end

[Devlin Fogg]

Well at the end of the video it's advertising bike life finance, so it appeared to be very related to me Joe public. We can be even more skeptical and say Heli flying would be an excellent way to expense some profits and reduce that pesky tax bill.

 

I'm totally biased because I think financing high end bikes is a terrible idea for most people. If the business required more funding to stay afloat, then it might not be the best idea for both parties.

What I am going to concede -

a) you've kept your name the same and not tried to hide behind the previous business closing

b) an interest rate of 14% ain't bad for something like this.

 

So I suppose good luck, more bikes on the trails is good for everyone n the end

I really appreciate your feedback thanks. Sadly, having the two entities being so similarly branded turned out to be a bad idea.... and I wish reducing profits was a problem we faced!! 

 

I agree with your sentiments on finance. In fact, I openly say that if you can, you should pay cash. It's just that not everyone can sadly, so we have finance as an option.

As you point out, more people on bikes is a good thing, which is why we don't finance anything else. We love bikes and that's our goal.

[GroenHoender]

Quite ironically, in these 2 paragraphs you make an exceptionally strong case for *never* financing a bike, even though I get that this was not your intention.

 

Well, yeah. I always prefer to pay hard cash for everything but even then there are situations that do not give one that luxury. But at least you got what I am trying to say.

 

Like I mentioned in one of my previous posts: time taken to save vs price fluctuations vs bike value lost over time vs many other factors. Everyone's circumstance differs from others giving the reason why some buy with some financing. 

 

Anyone who laughs at stories of getting loans for e-bikes or even a normal bike is clearly not living the life 99% of us currently have (eg studies loans, house/car loan, children upbringing, school fees, etc) and so on.

 

I am at the stage that I could still ride right now for a few years more before trading my bike in for e-MTB. But my wife will still not be able to take part in the fun. Buying a standard bike won't help as she won't be able to keep pace with a group ride, or have the fitness/strength to ride an MTB trail uphill (let's ignore the various obstacles of bike riding for now - the fact is, people want to ride and are now getting the opportunity to so).

 

So, trading in/selling my current bike and getting two e-bikes would be best for us. True, an e-bike's value will depreciate over time, rising service costs and all that. And we don't know whether e-bikes will get cheaper in the future. If one even looks at the various brands of e-bikes, it is actually scary to see how expensive it is (+/-R35k - 60k for Giant, +/-R70k for Spez, and so on). With the current SA economics and looming recession, it would probably get worse.

[shaper]

Personally my avocation is that if I cannot afford the sport then I look to do other sports I can afford to do without financing it.... until I can save up enough.

 

But each to their own!

Edited October 9, 2018 by shaper