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What Promotions Are On The Market With Bike Finance?
By Credit Watcher | March 16, 2010
Many people are choosing bike finance as a convenient and easy way to pay for their new bike or bike frame because of the great deals around at the moment. below is a selection of some of the great finance deals offered by retailers in the UK however there are some shops that refuse to offer modern payment plans like these. For this reason you will have to look around for a retailer who will give you a good bike finance deal, but they are out there so do not settle for second best.
You can find the four best finance offers below on the internet and in physical stores.
Interest Free Credit
Interest free credit is the best way that you can pay for your new bike as you only have to pay the price that is on the sales ticket. Many finance deals will charge you extortionate rates of interest for the privilege of paying for your bike over a long period. But with interest free credit you do not incur this extra cost.
Low %APR Deals
If you are in the situation that there are no interest free offers available, you can still find bike finance deals that will not charge you over the odds for paying in finance. Bike finance with a low %APR of 10% or under are still a convenient way to buy an expensive bike without having to shell out the entire cost at the time of purchase. The small fee is in case you break the bike before it is fully paid off or if you stop payments and do not return the bike, it should be thought of as risk-covering.
Flexible Repayment Plans
You can choose your repayment terms as well as the costs with some bike finance deals. You can find retailers who will let you pay off the bike over a term of 6 to 36 months. Choosing a longer term means that you pay less every month, which is great if you have a low income. This means it is possible for everyone to enjoy biking.
Low Deposits
Finance deals are great but when you have to put 50% of the cost down as a deposit they become less convenient. However, there are some low deposit options to be found if you look hard enough.
Some of the best retailers are offering a package where you give 10%-20% of the total cost as a deposit, can pay it off over two or three years, and will not be charged interest. There are no better bike finance deals than this.
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