Monthly Archives: September 2013

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Funding you cycling hobby can be incredibly expensive. Consider getting a loan to finance your dream bike

Funding you cycling hobby can be incredibly expensive especially when it comes to buying a new bike. If you are struggling to find the funds needed for your hobby then why not take a finance package out. Finance can help you purchase the bike of your dreams. There are many cheaper bikes available however these may not be the best bike to help you reach your full potential in your hobby.

There are many loan options available to help you finance a new bike. Many bike shops offer finance on the more expensive bikes often for an interest free period. Although with this option a deposit could be needed of 10% for example. There are some bike shops which offer the possibility of purchasing the bike now and paying nothing for 12 months. This would give you the opportunity to save up the money over the year, to pay the balance when the first repayment is to finance

A credit card can help you purchase the bike you want by spreading out the repayments. If you have a month in which you are struggling financially then you can pay the minimum payment for that month instead.

If you do not have a credit card a bank or finance provider may be able to provide you with a loan. A bike can be an excellent form of exercise. If you usually pay regular payments to the gym, replacing this with regular payments on a bike can help you get the bike of your dreams. When applying for a loan you will usually need to be at least 18, a resident of the UK and in employment. It is worth checking your credit rating with a credit referencing agency before applying with for a finance package as this can improve your chances of acceptance.

You may find that you struggle to get the finance you need for you bike hobby if you have a bad credit score. It may be worth you applying for you loan at if this is the case.