Buying a bike on credit

[spidaman]

any shops around pta that have easy payments?

[bikemonster]

Just say no!

[Caerus]

any shops around pta that have easy payments?

 

 

Im sure Cyclelab are advertising bikes are available on credit.

[bikemonster]

Im sure Cyclelab are advertising a way to make their already expensive bikes are available on credit even more expensive.

 

EFA.

 

Crack, it's a dig at Cyclelab, not at you.

 

A bike is a toy. We can wrap it up in all sorts of other justifications, but really, it's a toy. Toys are nice to have, but their is no need to make an already-expensive indulgence even more expensive.

 

The only time it makes sense to buy a bike on credit is if:

a.) you could afford to pay cash and

b.) the finance is being offered at 0%.

 

Otherwise save up and pay cash.

[gummibear]

Don't do it.

[Dicky DQ]

So what is the diff between whipping out the credit card and buying on credit? Most PPL buy bikes using a credit card and in most cases this is even more expensive than buying on fixed credit terms.

 

Just a question.

[bikemonster]

So what is the diff between whipping out the credit card and buying on credit? Most PPL buy bikes using a credit card and in most cases this is even more expensive than buying on fixed credit terms.

 

Just a question.

 

You answered it yourself: there is no difference.

 

Do most people really use credit card card as a way of buying bikes, though? If they do, then "most people" are arses. Unless you're being paid to ride a bike, you don't need anything more than a Tiagra/Deore level bike. And most people can afford that without resorting to credit, can't they?

 

And if you can't, then buy a decent second hand bike.

 

(Obviously there is a hyooge distinction between using the drastic plastic as a means of payment and using it as a means of finance.)

[PeterM]

EFA.

 

Crack, it's a dig at Cyclelab, not at you.

 

A bike is a toy. We can wrap it up in all sorts of other justifications, but really, it's a toy. Toys are nice to have, but their is no need to make an already-expensive indulgence even more expensive.

 

The only time it makes sense to buy a bike on credit is if:

a.) you could afford to pay cash and

b.) the finance is being offered at 0%.

 

Otherwise save up and pay cash.

 

Well said. One needs to know the diff between a Need and a Want.

[greatwhite]

Hi Spidaman,

 

Welcome to the hub. I'm sure you have your reasons for wanting credit to buy the bike and to give you a direct answer to your question, I can't offer any specific options to help you, although I guess most banks will give a loan as long as they get their 'pound of flesh' and there are also some guys on the hub offering cycle finance (do a search).

 

Like the other guys here, I would strongly urge you to consider buying with cash that you have saved. Perhaps a second hand bike will do the trick until you have the cash available to get your dream machine. Also, have a look at the likes of www.cwcyles.co.za and www.solomons.co.za locally or www.chainreactioncycles.co.uk internationally and buy bit from them and save some cash.

 

Whatever you do, avoid the urge to use a credit card to pay off over some months - with the exception of some of the private banking cards, they are just about the most costly way to buy things on credit.

[firewolf]

Have you tried the "Sell a Kidney" hotline? 0800webuyyourbeans112233. T's & C's apply.

[chris_w_65]

EFA.

 

Crack, it's a dig at Cyclelab, not at you.

 

 

 

 

I went to Cajees Fourways to buy a bike stand, they wanted R250.00, it sounded steep so I went to Cyclelab and I bought the same thing for R115.00

[Minion]

(Obviously there is a hyooge distinction between using the drastic plastic as a means of payment and using it as a means of finance.)

So true.

 

I buy everything on my credit card, but I pay every statement in full, so no interest. It's a great way to avoid cash and the rewards programs make it more beneficial than a debit card.

[Sharkie 2]

any shops around pta that have easy payments?

Their is one company I know of think its called Sure Assist if I remember correctly, Wesbank and some other finance houses wanted to start a section fr bicycle purchases not sure if they did though

[Mojoman]

I read in some old magazines that there is 0% interest on bikes bought on credit in the UK, is this true?

[spidaman]

Thanks for the advice, I have decided that I'll save up cash and take it from there! I realised that there is a want and a need, I still need some other things in life