Nick Dale Posted June 6, 2007 Report Share Posted June 6, 2007 (edited) So what do you think? I mean they do it on praticly everything else aslong as you clear a credit check...So if you pass a credit check do you think it should be an option for shops to have a finance option?I only say this because looking at the price of new bikes putting £1000+ straight out is alot of money in one go...Opinions and options around this?Reasons why and why not...Lets discuss :]EDIT: If you vote yes or no then just leave a comment to why you said it...Would help to get a gneral idea of what people think :] Edited June 6, 2007 by Nick Dale Quote Link to comment Share on other sites More sharing options...
ogre Posted June 6, 2007 Report Share Posted June 6, 2007 why not...Like the idea, be good for little timmy to start riding on an uber bike and fund it with his paper round... but can't they reclaim bike if you miss payments? (i've got virtualy no knowledge of finance stuff, but methinks thats right) you could have a comp, "buy" a koxx uber machine use it untill a payemnts due, batter it to fook and then say you've got the money and they have to reclaim a battered bike+loose out. could be way off there meh. it'd be good though Quote Link to comment Share on other sites More sharing options...
Nick Dale Posted June 6, 2007 Author Report Share Posted June 6, 2007 I think it would go through to a debt collection agency if there was no payments made and can reposese items and sell them to make the price of the bike up. It would obviously only work for people over the age of 18 or mummy or daddys little spoilt child.I say it could work in the long run because say a bike is £1000, pay say what £50 a week? in 20 weeks it is paid off. otherwise can pay more money or somthing? Or even have a deadline to pay off the full ammount and then an APR put on top of somthing like 8%? Quote Link to comment Share on other sites More sharing options...
rider_01 Posted June 6, 2007 Report Share Posted June 6, 2007 my local bike shop actualy does that lol but he is a very trust worthy man he has bikes in his shop that are like £900 and he trust you to pay weekly without fail!sean Quote Link to comment Share on other sites More sharing options...
Joe Aston Posted June 6, 2007 Report Share Posted June 6, 2007 Its good from a customer point of view and also from the shops view in an idealistic world where everyone does what they say they will. Some shops offer a short of finance system where you pay so much in every week or whenever but the bike dose not leave the shop until you have fully paid it off. So the shop cant lose out. I can see it helping a lot of people get into biking. But the shop is at a lot of risk if the customer cant pay up as second hand used bikes are not worth anywhere near as much as the rrp so the shop has lost out. Thats my viewJoe Quote Link to comment Share on other sites More sharing options...
sfboy Posted June 6, 2007 Report Share Posted June 6, 2007 What happend to buying stuff you can actually afford? Encouraging people to rack up debt is terrible. Quote Link to comment Share on other sites More sharing options...
David Posted June 6, 2007 Report Share Posted June 6, 2007 Many shops do already. Leisurelakesbikes.com do 0% finance on bikes, its a good way of buying them. Quote Link to comment Share on other sites More sharing options...
Jamie_Neal Posted June 7, 2007 Report Share Posted June 7, 2007 Wheelies do 0% finance - have to be credit checked or they'll put a bike by for you an you pay it off when you can and you get the bike when it's paid for - not before.I do disagree with getting into debt though. Quote Link to comment Share on other sites More sharing options...
Anodised Adamant Posted June 7, 2007 Report Share Posted June 7, 2007 they already do this down where i live leisure lakes do it aswell Quote Link to comment Share on other sites More sharing options...
Nick Dale Posted June 7, 2007 Author Report Share Posted June 7, 2007 I mean like big trials dedicated shops and suck like tartys or select bikes? I mean i myself want a new bike because i have been out for a while and yeah...but dropping a grand out of my pocket is ALOT of money to go in one big bash. Anybody know anyshops that can get trials bikes in such as the echo's or adaments and so on...? Would love to do the finance if i could but no shop to do it? Quote Link to comment Share on other sites More sharing options...
Tommy d Posted June 8, 2007 Report Share Posted June 8, 2007 No. If you can't afford stuff, don't buy it. New riders can get bikes off here/Ebay. If you get in debt for a new bike, you'll be screwed when you need to replace bits and you're still in debt...And I don't like 0% finance either, it just means that you pay the extra regardless of whether you go for the installments. Quote Link to comment Share on other sites More sharing options...
anzo Posted June 8, 2007 Report Share Posted June 8, 2007 Because...Under finanical ownership you do not own the bike, with a trials bike it gets mashed and smashed, therefore, your finance deal will more than likely out live the bike. Also, for finance and to be held liable you must be over 18, most over 18's on here buy they're own bikes and parts and therefore finance COULD be an option, but is it seriously worth it? And as said, if you don't keep up repayments then they will take items of equivilant value from your house and you'll be blacklisted and in a deep shit...worth it for a bike? Me thinks not.Ok, bikes are expensive, but not THAT expensive compared to buying a new car or motorbike where finance is the only option for most. With an item as cheap as a trials bike, if you cant afford the one off payment, you can't afford it full stop. Also, I think tartybikes are busy enough without the 'ermmm, I haven't got the money today but...' excuses from 15 year old kids. Quote Link to comment Share on other sites More sharing options...
Nick Dale Posted June 9, 2007 Author Report Share Posted June 9, 2007 Who said abything about not having the money....Finance is a good option because dropping like a grand out of your account in one go is alot to do...sure people can afford it but dropping a grand out of a bank account in one huge lump is alot of money.. Quote Link to comment Share on other sites More sharing options...
Ben Cox Posted June 9, 2007 Report Share Posted June 9, 2007 you lot seem to think that finance is based on you send em x amount of dollar per week, not at all! they will send your request to there finance company and then they will send you a direct debit form so it will remove the money from your account every month/week/ etc Quote Link to comment Share on other sites More sharing options...
Has anyone seen my shoe? Posted June 9, 2007 Report Share Posted June 9, 2007 (edited) Could do it a different way.You pay £X a week into a account (which you made). Depending on what you want and how much your putting into the account you'll have the bike in no time. This is called 'saving'. Edited June 9, 2007 by Has anyone seen my shoe? Quote Link to comment Share on other sites More sharing options...
Nick Dale Posted June 9, 2007 Author Report Share Posted June 9, 2007 Alot of people find it hard to save. There aint no need to be all sarcastic and cocky about it. It is just an idea since alot of companys from other such things do it. Thats like saying to a lad who wants a £13k car...Yeah save up mate. But most get it on a finance, i know this is alot less money but for £1200ish to go out ur bank in one big go is quite a dent. Quote Link to comment Share on other sites More sharing options...
Has anyone seen my shoe? Posted June 9, 2007 Report Share Posted June 9, 2007 Its still as big a dent, just spread out more.Plus theres really no benefit for shops, unless they start charging for finance.Dont get me wrong I think its a good idea, its just wont happen.Ive never had a brand new full build as I cant afford it. I cant afford average second hand bike Quote Link to comment Share on other sites More sharing options...
Captain Scarlet Posted June 9, 2007 Report Share Posted June 9, 2007 I like the idea of it, or buy now pay later (my mum would buy me anything if its under these circumstances).But then again, a trials bike is a very versatile and used item, its not like a fridge/freezer or household appliance that stays in the house and nothing our of the ordinary can happen to it, these will then usually always tend to last longer than the payback rate.A bike however is dependable on the rider, I'm sure some people would buy a bike wreck it or abuse it, and still have to finish payments for it.Good idea but I can't really see it happening with trials bikes. Quote Link to comment Share on other sites More sharing options...
Andrex Posted June 9, 2007 Report Share Posted June 9, 2007 Just buy a second hand bike, its much cheaper than splashing out loads for a new bike and can avoid getting a debt . Thats what I've done ever since i started riding. Quote Link to comment Share on other sites More sharing options...
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