BIKE FINANCE: SPREAD THE COST WITH OUR BIKE CREDIT OPTIONS

Bike Finance header.png

What is Bike Finance?

Instead of having to pay for your new bicycle all in one go, bike finance allows you to buy bike product today but spread the cost with monthly repayments. Edinburgh Bicycle Coop offer a range of options between interest free credit and interest bearing credit. As we have 0% finance (0%APR) options, you can choose a plan which has no additional cost to yourself for paying monthly. (Applications are subject to status, minimum spend applies.)

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.

If you spend £500 or more you can apply for 6 months interest free credit (0%APR)
If you spend £750 or more you can apply for 12 months interest free credit (0%APR)
If you spend £1,000 or more you can apply for 18 months interest free credit (0%APR)
If you spend £1,750 or more you can apply for 24 months interest free credit (0%APR)
If you spend £3,500 or more you can apply for 36 months interest free credit (0%APR)

Choose to take out a bike finance option over 6-36 months and you'll benefit from 0% interest (0% APR). However, if you are under the £3500 spend limit, you can still apply for 36 months credit but will pay 15.9% APR interest.

V12 FINANCE 0% APR REPRESENTATIVE EXAMPLE
Loan Repayment	£900.00	Cash Price	£1,000.00
Deposit	10%	Deposit Paid	£100.00
Monthly Payment	£75.00	Loan Amount	£900.00
Final Instalment	£75.00	Cost of Loan	£0.00
Total Amount Payable	£1,000.00	Number of Monthly Payments	12

V12 FINANCE CLASSIC CREDIT 15.9% APR REPRESENTATIVE EXAMPLE
Loan Repayment	£4,500.00	Cash Price	£5,000.00
Deposit	10%	Deposit Paid	£500.00
Monthly Payment	£155.66	Loan Amount	£4,500.00
Final Instalment	£155.66	Cost of Loan	£1,103.76
Total Amount Payable	£6,103.76	Number of Monthly Payments	36

bike finance faq's

Am I eligible for bike credit?

Finance is suitable for customers who:

Are 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 a working student or in receipt of disability benefit with a minimum income expected over £4,999 per annum.
Are able to afford the monthly payments.
Have a bank or building society account.

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.

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.

Terms and conditions

Interest-free credit (0%APR) is only offered on full price (MSRP) eligible bikes and products. Some exclusions may apply. A minimum deposit of 10% of the order value is required by either credit or debit card.
V12 Classic Credit is available on discounted items, interest is charged at 15.9% APR and can be spread over 36 or 48 months. A minimum deposit of 10% of the order value is required by either credit or debit card.
Edinburgh Bicycle Cooperative Ltd is regulated by the Financial Conduct Authority as a credit broker only - Registration Number 677173. We are not a lender. We broker credit on behalf of V12 Retail Finance which is a trading name of Secure Trust Bank Plc. We do not receive any commission from V12 for introducing customers to them. Applications are subject to status, minimum spend applies.
V12 Retail Finance is a trading name of Secure Trust Bank PLC. Not all products offered by Secure Trust Bank PLC are regulated by the Financial Conduct Authority (FCA)
For full details of Edinburgh Bicycle Cooperative's returns policy, please see here.

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BIKE FINANCE: SPREAD THE COST WITH OUR BIKE CREDIT OPTIONS

What is Bike Finance?

If I use bike credit, how much will I end up paying?

bike finance faq's

Am I eligible for bike credit?

Who provides the bike finance?

How do I apply?

How quickly will I receive my items?

When will I make the first payment?

Can I pay off the bike finance early?

Is it possible to return an item if I bought it using bike finance?

Can my order be delivered to a different address?

Terms and conditions