1.       Split the cost of your bike across a year

The first of our three finance options gives you the chance to pay for your bike across the course of 12-months. This means that you could enjoy your bike for a whole year before paying the full amount!

Only available on purchases over £280, our 12-month interest-free option is perfect for those higher priced, and possibly unforeseen purchases. Let’s imagine your mountain bike is unexpectedly damaged and you need to buy something new. It’s almost impossible to plan for this, so it could be quite an expensive purchase for you. With our 12-month finance option, we’ll split your purchase price into 12 equal, more manageable amounts that you’ll pay monthly until the year is up.

To explain a little better, let’s breakdown how your individual costs would look. Let’s say this bike is worth a total of £480. After removing the 10% deposit required, we’re left with £432 which works out at £36 in 12 monthly payments. With a fixed 0% rate of interest, this means that all you will pay month-by-month is £36. Suddenly your £480 bike seems much more affordable!

 

Here’s a breakdown of these costs:

Purchase price

£480.00

Deposit

£48.00

Amount of credit

£432.00

12 monthly payments

£36.00

Total repayable

£480.00

Agreement duration

12 months

Rate of Interest (fixed)

0% per annum

 

2.       Split the cost in three

With our second financing option, purchasing your new bike becomes three times easier! In a similar fashion to the previous route, this time we’ll split the cost of your purchase in three even chunks, and you’ll pay across the following two months.

This option is perfect for those in-between priced bikes, where you’re looking to spread the cost a little but not across an entire year. A good example of where this could be used is for a beginner cyclist. This might be someone who is ready to begin cycling with a mid-priced bike but not quite ready to pay for it in full.

Therefore, in this example let’s say you’re purchasing a bike worth £150. To begin with, we’ll require the first third as a deposit on the day, meaning you’ll pay £50 in-store or online with us. Then, the following month you’ll pay the second £50 and the month after that, the final £50.

 

Here’s a breakdown of our example costs:

Purchase price

£150.00

Deposit

£50.00

Amount of credit

£100.00

First month

£50.00

Second month

£50.00

Total repayable

£150.00

 

3.       Buy now, pay in 30 days

Why wait for payday to ride away on your dream bike? With our final new finance option, you can enjoy your brand-new bike without paying a thing for 30 days. This option is only available on purchases over £30, meaning it’s perfect for those less-pricey bikes.

A great example of where this option might come in handy is when buying a gift for your child. Their birthday might be looming, and we understand it can be an expensive time of the year. Postponing this payment for 30 days could really help!

This finance option is open to anyone as there is no credit check required. We’ll simply request a postcode and debit card with the same details.

 

Here at Cycle King & Hawk Cycles, we promise great quality bikes at low prices, all year round. With our three new finance options, we can help you reduce your initial cost even further and become one step closer to riding away on your dream bike! For more information about our financing options, visit our website. You can also message us on Twitter and Facebook or request more information at your local store.