Any hubbers can assist or advise on financing a new bike?

[Chris_]

..did you finance your Merc, BMW, Land Rover, Jag? Those are not necessities yet people finance them all the time.

 

...

 

My Range is an investment on the health of my happiness. You can't put a price on that.

[gummibear]

My Range is an investment on the health of my happiness. You can't put a price on that.

Is your bike financed?

[Chris_]

Is your bike financed?

 

Of course. I have a ton of savings.

[Shebeen]

if you want to go FULL JARGON, and finance a bike. why not go here?

https://bike-addict.co.za/pages/bike-finance

 

RENEWED GEAR BICYCLE FINANCE - BICYCLE FINANCE FOR BUSINESS OWNERS:

We finance according to an operational rental model which has
various advantages:
 

• A deposit is usually not required – therefore no negative effect for your company or in terms of your personal cash flow.
• Due to the operational rental approach, VAT could be claimed in terms of such costing.
• As is the case with golf green fees, your riding expenses (installment/premium/insurance), when in the company of your clients, could be fully deductible from your taxable income.
• Since the rental agreement is off the balance sheet, it does not affect the gearing of the company.
• We finance a bicycle in your company name over a period of either 12 or 24 months.
• Subject to credit approval. E & OE.

 

 

of course the web address doesn't work

http://www.i-me.finance/

because it has been rebranded as

https://renewedgroup.com/about-us/

 

you'll find bikelife finance is now Yonda (well the same people) so draw your own conclusions there.

[Grease_Monkey]

I don't finance toys.

 

But I don't get this thread - we are not the OP's financial advisor, he didn't ask for our opinions on financing a bicycle, he asked if someone can advise on the financing options available. Keep in on topic..

[IceCreamMan]

Always good to have cash on hand (or in savings) 

 

Companies do it all the time in having cash on hand and loans... While simplistic savings could be for other items like a rainy day. Having savings and watching them grow is motivating for some. 

 

the concept of financing something at a relatively low interest rate to your savings is not necessarily a bad idea. 

 

In my grandads day financing a car was unheard of , he bought everything cash. Then vehicles started being financed and people though that was crazy. Now its bikes. 

 

Here, you can finance anything , from a toaster to a lambourghini if you so wish. Credit is not always an evil. While it may not make financial sense to some thats viewing it purely from a financial viewpoint and not taking the complexity of human decision making into account.

[Chris_]

I don't finance toys.

 

But I don't get this thread - we are not the OP's financial advisor, he didn't ask for our opinions on financing a bicycle, he asked if someone can advise on the financing options available. Keep in on topic..

 

If you look at the topic title they may have also asked for some cash.

 

Not a lot of help coming there either. 

[DJuice]

Silly me thinking the below will become the Friday thread.

https://community.bikehub.co.za/topic/188754-seek-investor-to-import-new-bicycle-brand-to-south-africa-as-an-authorized-distributor/?fromsearch=1

[Wayne Potgieter]

So did OP buy a bike, house or car? I’m confused now.

[IceCreamMan]

So did OP buy a bike, house or car? I’m confused now.

 

Applying for finance as we type. sommer a jet ski too.

Edited April 29, 2021 by IceCreamMan

[Quagga]

Understood, however the principles remain the same and the effect only worsens over 36 months (R2276/month).

 

Scenario 1 gives you R80k in your savings account after 36 months (financing the bike instead of using savings)

 

Scenario 2 gives you R95k in your savings account after 36 months, so the difference is R15k (self-financing; i.e. using your savings to buy the bike and saving up your monthly installment over the same time period)

That is IF you can afford scenario two 

[Patchelicious]

Always good to have cash on hand (or in savings)

 

Companies do it all the time in having cash on hand and loans... While simplistic savings could be for other items like a rainy day. Having savings and watching them grow is motivating for some.

 

the concept of financing something at a relatively low interest rate to your savings is not necessarily a bad idea.

 

In my grandads day financing a car was unheard of , he bought everything cash. Then vehicles started being financed and people though that was crazy. Now its bikes.

 

Here, you can finance anything , from a toaster to a lambourghini if you so wish. Credit is not always an evil. While it may not make financial sense to some thats viewing it purely from a financial viewpoint and not taking the complexity of human decision making into account.

Yes we can finance anything we want now, that is why consumer debt is what it is now.

 

Yes, credit is not ALWAYS evil, but using corporate finance models where financing depreciating assets that can be leveraged else where or capitalised as an argument to support financing a bicycle is a bit ignorant.

 

Here we are defending lending, then tomorrow we scream how big business is out to screw the little guy.

 

The argument is simple, the OP is person, who can make his own decisions about their own finances.

If the OPs wants the bike and he is ok with paying the the premium via a finance vehicle for it, well that's his choice.

Edited April 29, 2021 by Patchelicious

[Quagga]

hey Quagga, i though you were extinct, but maybe it's just your line of reasoning that is out of date.

snip

Low blow.....

 

What if the OP has just bought his first house and first car.

Or has only been workig for year or three and do not have savings yet.

 

You know nothing about me, what I drive, ride etc yet you have taken a few low blows at me and others

Edited April 29, 2021 by Quagga

[IceCreamMan]

Yes we can finance anything we want now, that is why consumer debt is what it is now.

 

Yes, credit is not ALWAYS evil, but using corporate finance models where financing depreciating assets that can be leveraged else where or capitalised as an argument to support financing a bicycle is a bit ignorant.

 

Here we are defending lending, then tomorrow we scream how big business is out to screw the little guy.

 

The argument is simple, the OP is person, who can make his own decisions about their own finances.

If the OPs wants the bike and he is ok with paying the the premium via a finance vehicle for it, well that's his choice.

 

People are complex creatures and problem solvers. Viewing something purely from a financial point of view is ignorant. Utility is a difficult concept and when viewed from an individual perspective nearly impossible to ascertain from a simple post. 

 

We should be talking about utility. 

 

Edit: When looking from a purely financial perspective the worse decision i ever made was being on Discovery medical aid. 20 years of payments and i went to the doctor once. (as an example)  And another edit: Actually now i think about it the worst financial decision looking at it from a financial perspectivei ever made was having kids. 

Edited April 29, 2021 by IceCreamMan

[Showtime]

Off course the OP is an adult who can make his own financial decisions but making good decisions is one of the hardest things in life and sometimes we can do with some help.

 

Maybe he read some replies and made a better financial decision than he would have otherwise. Maybe he doesn't need advice.

 

How much bike does a person really need etc is a complex discussion that we can't answer but no need to chastise people for sharing some hard earned wisdom.

Edited April 29, 2021 by Showtime

[BigDL]

Finance a bike if it brings you pleasure and you can afford it. I hate financing and it eats away at me if I owe for something I don’t need, but that’s my problem, not anyone else’s. My good mate finances all his toys and doesn’t lose a moments sleep over it. In the last 5 years he’s bought a ghost e-MTB, a gravel bike and an enduro bike, all on finance. He can afford it, he loves the bikes and doesn’t stress. Good luck to him. Having said that, 0% interest offers don’t hurt either.

 

If the OP wants to finance a bike and live in a shack, good for him if it makes him happy. If he wants to finance a bike because he has massive investments that he can’t touch, also good for him.