BIKE FINANCE: SPREAD THE COST WITH OUR BIKE CREDIT OPTIONS
What exactly is Bike Finance?
Instead of having to pay for your new bicycle all in one go, bike finance allows you to buy your stuff today but spread the cost with monthly repayments and no deposit. Plus, because we have 0% interest finance options, you can choose a plan which has no additional cost to yourself for paying monthly.
Our promise is to treat all our customers fairly and when dealing with people with any vulnerability, we will take account of such vulnerability to ensure that the way that we sell and provide our services does not cause them harm. The Financial Conduct Authority (FCA) defines a vulnerable customer as “someone who, due to their personal circumstances, is especially susceptible to harm, particularly when a firm is not acting with appropriate levels of care.” If you believe that this may applies to you, please see our Vulnerable Customer Policy.
If I use bike credit, how much will I end up paying?
The minimum spend amount is £500, and you can spend this on a bicycle alone, cycling kit alone, or a mixture of both. You can also use finance to pay for multiple lower value bikes (for example, two kids bikes) as long as the total value surpasses £500 and excludes sale bikes.
- If you spend £500 or more you can apply for 6 months 0% interest free credit
- If you spend £750 or more you can apply for 12 months 0% interest free credit
- If you spend £1,000 or more you can apply for 18 months 0% interest free credit
- If you spend £1,750 or more you can apply for 24 months 0% interest free credit
Choose to take out a bike finance option over 6-24 months and you'll benefit from 0% interest. However, if you want to repay the cost over 36 months with lower monthly repayments, you can do so but will pay 15.9% interest.
In a nut shell, if you took out finance for the above purchase, you wouldn't pay anything extra because you chose bike finance.
Am I eligible for bike credit?
To apply for finance, you need to:
- Be at least 18 years old.
- A permanent UK resident.
- In regular employment (minimum of 16 hours per week) including self-employed, or living with your spouse/partner who is in regular employment.
- In receipt of a pension if you are retired.
- Able to confirm sufficient income if you are registered disabled.
The Financial Conduct Authority (FCA) defines a vulnerable customer as “someone who, due to their personal circumstances, is especially susceptible to harm, particularly when a firm is not acting with appropriate levels of care.” If you believe that this applies to you, please see our Vulnerable Customer Policy.
Who provides the bike finance?
Our trusted finance partner is V12 Retail Finance.
How do I apply?
For in store purchase, you can mention interest-free credit to the sales person, who will need a photo ID and your bank details. They will then go through the straightforward application with you. We are normally able to see if your application is successful straight away. If you are buying online then you simply select the 'finance' option at the Payment Information stage of the checkout. You can also purchase over the phone by calling us on 0345 257 0808. Please note that we are unable to offer finance on sale bikes.
How quickly will I receive my items?
Providing your finance application is successful, you can take your items home straight away. Or if you're buying online, we'll process your order and you'll receive your goods in a few days.
When will I make the first payment?
The first payment won't be taken until the month after you've received your items.
Can I pay off the bike finance early?
Yes, you need to arrange this with our finance partner, V12 Retail Finance, directly on 029 2046 8900.
Is it possible to return an item if I bought it using bike finance?
Yes, V12 Retail Finance will take a few days to cancel your credit agreement and refund previous payments.
Can my order be delivered to a different address?
Finance orders must be delivered to the address used during the bike finance application. If you live close to one of our stores, you can apply for finance in store instead.