More Ways to Pay for Your New Bike
More Ways to Pay for Your New Bike
We are seeing more people wanting to spread the cost of their new bike. This is a mix of cost of living pressures and the popularity of electric bikes, which tend to be higher priced than traditional acoustic bikes. To help you get the bike you want we have a range of ways you can pay.
Cycle to Work – save 26% to 40% and pay in instalments
The various different cycle to work schemes remain the best way for most people to get a new bike. Your employer actually buys the bike for you and then you pay them back in monthly instalments, normally for a year. These instalments are interest free and come directly out of your gross pay. Because this reduces your tax bill you end up with an effective saving of between 26% and 40% on your new bike, depending on your tax bracket. This has recently gone up from a 25% minimum saving with the latest National Insurance changes. The application process is usually pretty simple and there is minimal paperwork to do. If you have a cycle to work voucher from CycleScheme.co.uk you can checkout directly on our website with your voucher code.
Klarna – pay in 3 instalments interest free*
We now have Klarna Pay In 3 available in our stores and on our website. You can use it to buy bikes, parts and accessories up to a value of £1500. A simple example would be a £600 bike. In this case you’d pay £200 immediately and be able to take the bike away (or have it delivered). You would then pay another £200 after 30 days and a final £200 after another 30 days. You can pick the option to pay with Klarna on our website or in-store. If you do the application in our shops we’ll text or email you a short form to fill out directly on the Klarna system so you don’t have to share any personal or financial data with us.
% Finance – pay in instalments from 6 to 24 months*
We partner with V12 Finance to provide interest free finance on bikes from £250 to £15,000. The options available depend on how much you are spending.
- 6 months interest free finance is available on orders over £250
- 12 months interest free finance is available on orders over £400
- 18 months interest free finance is available on orders over £1000
- 24 months interest free finance is available on orders over £2500
On all options you will need to pay a minimum 10% deposit. You can pick the option to pay with V12 Finance on our website or apply in store. As you will need to supply personal information to V12 many customers choose to do the application online as a click and collect order.
We are happy to discuss the different options with you to help you find both the right bike, and the right way to pay for it.
* Both Klarna and V12 Finance are available subject to age and status. You will need to go through an application process which will include a full credit check with V12 and a soft credit check with Klarna. Read the full terms and conditions for V12 here and for Klarna here.
Klarna's Pay in 3 / Pay in 30 days are unregulated credit agreements. Borrowing more than you can afford or paying late may negatively impact your financial status and ability to obtain credit. 18+, UK residents only. Subject to status. Ts&Cs and late fees apply.
