Bike financing

[MORNE]

For your second thread I heartily recommend any of the following topics:

1. Tubes are more efficient than tubeless in the long run. They are, monetarily speaking...IMO
2. You think the geometry of a mtb doesn't really matter, its all about the drivetrain! it is to a large extent
3. A Specialized Epic is the only bike anyone ever needs to own as it can do everything. I mean, its a 29er! well if you did, it could be.
4. Anything about veganism. "not gonna f'n happen - copyright Vanzweelism 2019"

 

Welcome!

 

if you REALLY want to hit a nerve...go to an enduro-bro thread and tell them XCO courses are plenty technical enough

Edited February 12, 2020 by morneS555

[Captain Fastbastard Mayhem]

I have been out the country now for 5 years. Holy schmoley - is this what gear costs now???

 

That is insane. That's almost double from 5 years ago (loose bush maths)

No, it's not. Those figures are a little bit inflated... 

[Captain Fastbastard Mayhem]

 

if you REALLY want to hit a nerve...go to an enduro-bro thread and tell them XCO courses are plenty technical enough

They are, generally.... LOL. Only diff between enduro and xco is that the xco guys do laps, and get timed on the ups, too...

[Shebeen]

Good Luck China - Suggest you brace yourself

this post would not be out of place in the coronarivus thread

[Patchelicious]

Good Luck China - Suggest you brace dont over extend yourself

daarsy

[Pure Savage]

Do what you want, I see there is a Spez e-bike thats now R250k, I would get that.

[Markellis]

The real question is does Biogen Naugat really make you faster....

[RobertWhitehead]

You know what really grates my nipples?

Someone comes onto the hub and makes his / her first post about some or other topic, everyone chimes in and the thread reaches 14 pages and said OP never even makes another post. I find it quite annoying, some folks actually takes time to type out a carefully crafted reply with pearls of wisdom and nothing follows - rant over please continue  . 

[SoloCyclist]

You know what really grates my nipples?

Someone comes onto the hub and makes his / her first post about some or other topic, everyone chimes in and the thread reaches 14 pages and said OP never even makes another post. I find it quite annoying, some folks actually takes time to type out a carefully crafted reply with pearls of wisdom and nothing follows - rant over please continue .

What grinds my gears is when a new person is "attacked" by asking a genuine question

 

You honestly expect the OP to reply after his question gets ripped apart ......

 

That's why outsiders lurk the forums only and dont interact

[stefmeister]

You know what really grates my nipples?

Someone comes onto the hub and makes his / her first post about some or other topic, everyone chimes in and the thread reaches 14 pages and said OP never even makes another post. I find it quite annoying, some folks actually takes time to type out a carefully crafted reply with pearls of wisdom and nothing follows - rant over please continue  . 

 

What would this forum be without our one-hit-wonders.

[Nettie R]

My 2c. It's a leisure item, so don't expect prime, but fight for the best interest rate. Check that it is an installment sale without a residual. Wesbank now finance gear too. Insurance is probably a requirement. Shop around. 

[Shebeen]

I was skeptical about financing a bike, it was a big decision for me but do some math and make sure it works for you.

 

1- shorten the repayment period as much as possible- they will try hammer you with a higher rate but ya my rule was I will not pay in for more than half the time I plan on owning the bike so I will keep this bike for 5 years min so max 2 years repayments.

2- try get as much in as deposit to borrow as little as possible

3- don't overstretch the budget because you are financing. For me the big sway was a 45k bike marked down to 34k and in terms of spec and offering it was 8-10k less than any other comparable bike at that stage. Do your research make sure it really is a good deal. It would have been easy to go and get a 60k bike on financing but reality is I don't need that level bike.

4- Fly it past the Mrs and keep her involved. Mine works at a bank to make it worse but though she was all for me getting a bike(current bike is 8 years old) they don't get swayed by the excitement and can still think clearly about it.

 

My last thing- as much as they are not that popular on the Hub, Cycle lab and their Wesbank set up is actually incredibly efficient in how they work and how they arrange finance. In fact I was scared how quick and efficient it was to get into debt. I was in store Thursday evening knowing exactly which bike and what size and fetched bike Friday afternoon financed all dialed and sorted.

2- how about a 100% deposit - saves you all the interest!

 

I'm thinking the main reason why this made sense was:

a)you did your homework

b)you used it to buy a deal of a bike

c)you did your homework

[MORNE]

What grinds my gears is when a new person is "attacked" by asking a genuine question

 

You honestly expect the OP to reply after his question gets ripped apart ......

 

That's why outsiders lurk the forums only and dont interact

natural selection.

(it's part of the charm of this place.)

 

Edited February 12, 2020 by morneS555

[Danger Dassie]

 

shoes - Olympic R1000-00  I ve done a sub 12 Transbaviaans on a pair no problem. Underated, Ryder also a good option.

peddles - Ryder BI R 450 from CWC , great beginner. Shimano entry level are about the same and slightly better. Replacement Shimano cleats are worth the slight extra.

saddle -  R 500 for a decent saddle right here from the hub. New options also worth a look, Ryder/Farr

clothing - R 500 for top , R 650 for rapid sport bib. I ve done TB, 3 hours Argus, W2W ect on those.

helmet - Shop around, lots of specials on very good Helmets. I ve bougt a UVEX for R1000-00 on a sale. Bell/Giro on 3 year crash replacement warranty, under a grand. Titan Racing also under a grand with a five year crash replacement warranty.

gloves - R 300. 

 

No need to break the bank to get started. There is a lot of cycling snobs out there that will tell you you must have this and you must have that. I do admit that I own a pair if SIDI`s and Assos and they are awesome and comfy as hell. As you get into the game you can upgrade. 

 

P.S nothing against what Robbie said just my 2c

 

 

 

I was skeptical about financing a bike, it was a big decision for me but do some math and make sure it works for you.

 

1- shorten the repayment period as much as possible- they will try hammer you with a higher rate but ya my rule was I will not pay in for more than half the time I plan on owning the bike so I will keep this bike for 5 years min so max 2 years repayments.

2- try get as much in as deposit to borrow as little as possible

3- don't overstretch the budget because you are financing. For me the big sway was a 45k bike marked down to 34k and in terms of spec and offering it was 8-10k less than any other comparable bike at that stage. Do your research make sure it really is a good deal. It would have been easy to go and get a 60k bike on financing but reality is I don't need that level bike.

4- Fly it past the Mrs and keep her involved. Mine works at a bank to make it worse but though she was all for me getting a bike(current bike is 8 years old) they don't get swayed by the excitement and can still think clearly about it.

 

My last thing- as much as they are not that popular on the Hub, Cycle lab and their Wesbank set up is actually incredibly efficient in how they work and how they arrange finance. In fact I was scared how quick and efficient it was to get into debt. I was in store Thursday evening knowing exactly which bike and what size and fetched bike Friday afternoon financed all dialed and sorted.

 

Pretty much the most common sense logical and level headed advice, the thread can stop here.

[Riaan H]

Some perspective from someone who actually financed a bike before and will do so again.

 

In 2015 I wanted to upgrade from my R6k (when new) very basic Momsen HT to something I would be happy to own for a couple of years. After deciding on an alloy Spez Camber which cost R 33k at the time I started saving up my deposit and put something like R 7500 together before approaching my bank for the difference . I was offered an overdraft at 9% with a monthly fixed debit order which would pay off the overdraft within 24 months. I reckon it was a pretty good deal as I can't see myself actually saving for another 2 years towards a bike with a purchase price that just kept increasing. I still ride this bike as often as possible and would happily do so for the foreseeable future.

 

My wife saw a brand new 2016 Epic World Cup for sale late in that year (when the new colourways were released) for about R 10k under retail and jumped on it, but went a different route and accepted a rent to own type deal. We would definitely not go this route again as it does not allow you to settle the outstanding amount earlier (and thereby save interest) and and forces you to continue paying monthly installments for the full duration you agreed upon. 

 

Will I finance another bike, yes definitely. TBH I am already starting to save up a nice deposit towards a triathlon bike I would likely buy as a from me to me Christmas gift. As stated by others the Wesbank/Yonda route seems to work very well and they specifically allow you to settle early which is a necessity. 

 

Don't be discouraged by the preachy naysayers, much as we would like to, we don't all earn the kinda money to walk into a shop and buy our dream bikes cash, and neither should we be bullied for deciding to buy our bikes now and pay for them over a term, how many of them paid cash for their cars?

 

Just make sure you go into it with open eyes and do your research, work out what can realistically afford to pay per month and how long you are realistically prepared to pay for the bike (and how long you are prepared to keep it), and bear in mind that wear and tear on the bike will have to be taken into account (DS Mtb's like a lot of attention) 

 

If it still looks like a viable option to you, then get the bike, place it on your couch and take a pic to post in the New Gear section then go and have lots of fun with it. 

 

End of sermon

[DIPSLICK]

Some perspective from someone who actually financed a bike before and will do so again.

 

In 2015 I wanted to upgrade from my R6k (when new) very basic Momsen HT to something I would be happy to own for a couple of years. After deciding on an alloy Spez Camber which cost R 33k at the time I started saving up my deposit and put something like R 7500 together before approaching my bank for the difference . I was offered an overdraft at 9% with a monthly fixed debit order which would pay off the overdraft within 24 months. I reckon it was a pretty good deal as I can't see myself actually saving for another 2 years towards a bike with a purchase price that just kept increasing. I still ride this bike as often as possible and would happily do so for the foreseeable future.

 

My wife saw a brand new 2016 Epic World Cup for sale late in that year (when the new colourways were released) for about R 10k under retail and jumped on it, but went a different route and accepted a rent to own type deal. We would definitely not go this route again as it does not allow you to settle the outstanding amount earlier (and thereby save interest) and and forces you to continue paying monthly installments for the full duration you agreed upon. 

 

Will I finance another bike, yes definitely. TBH I am already starting to save up a nice deposit towards a triathlon bike I would likely buy as a from me to me Christmas gift. As stated by others the Wesbank/Yonda route seems to work very well and they specifically allow you to settle early which is a necessity. 

 

Don't be discouraged by the preachy naysayers, much as we would like to, we don't all earn the kinda money to walk into a shop and buy our dream bikes cash, and neither should we be bullied for deciding to buy our bikes now and pay for them over a term, how many of them paid cash for their cars?

 

Just make sure you go into it with open eyes and do your research, work out what can realistically afford to pay per month and how long you are realistically prepared to pay for the bike (and how long you are prepared to keep it), and bear in mind that wear and tear on the bike will have to be taken into account (DS Mtb's like a lot of attention) 

 

If it still looks like a viable option to you, then get the bike, place it on your couch and take a pic to post in the New Gear section then go and have lots of fun with it. 

 

End of sermon

I have always said you never finance toys,,,,,,,,,,,,but your logic is sound in your situation

problem is most look at it from their financial position

as you say with bikes jumping in price over "your saving" period by 20k its a no brainer as in two year you would only have a better deposit and not a bike

 

different approach relating to different circumstances