If you are planning to purchase a bike and are looking for various credit options, then you should know that stores today offer a wide range of credit options. You can always use your credit card for it but most people know today that it is actually quite an expensive thing to do.
The other credit options offered by finance companies and online lenders are sameday personal loans, pounds till next payday loan, no faxing advances, faxless and no fax advance and various others.
While these can be used, the best way to finance the bike is to go for a buy now pay later plan from the store itself since it is quick and easy and works well when you have an emergency need and need an express way to finance the bike of your choice.
If you have a bad credit history, then you should be looking for a program with no credit check.
In a no credit check buy now pay later program, the lender would not conduct a credit check. However, you will still have to provide the rest of the documents like your 3 month pay stubs, you should have no debit card problems, must have a working bank account and an identification proof. Once you provide these, it is only a matter of hours before you get an instant and automatic ok and guaranteed credit from the store. While this might not be the most economical way to fund the bike, it is still the most convenient and if you know how to use it well, you can even save yourself from having to pay high interest rates.
You should expect to come across higher interest rates when you go for a no credit check program since the stores are actually taking higher risk when they provide you credit. Some of the stores that you might want to check are Moores Cycles, George White, Climb on Bikes, Fitness Superstores and others. Check all your options, see what type of interest rates you should expect to pay and then make an informed decision.
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I went to one of the large bike stores the other day and was offered a £2000 aluminium road bike, they advised me that I could open up a credit line with them and I would not have to pay my first installment until July next year…
LollyFred, I don’t believe that two grand is alot of dough, surely you would have had to put some money down.
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