How did you pay for your bike?

[NULevo]

You just destroyed my world - I'm an iSheep. Fuuuuuuuuuuuck!

Welcome to my world!

 

[Muttley]

Put down deposit and final settlement all on credit card but paid off straight away mostly using money saved from not having to commute. Also been saving from not going to football, I go to all home and away games so it's been nice not having the hassle and expense booking trains.

 

[celbii]

Voted cash and card because I put my Levo SL carbon comp on the credit card then went home and paid it off the next week.

 

[chrismechmaster]

Both my bikes on credit cards on 0% deals for 24 months

 

[GMLS]

Mmm, congratulations.
Try selling that one to anyone who bought a bike in February 2020, your +9% would most likely have been -40%.

Yup was heavily invested myself but glad to say its recovered nicely as I stayed invested and actually bought quality companies near the bottom

 

[His_Turdness]

10% cash and the rest of it by bank transfer. Borrowed 1/3 of the money from my brother and paying him back before christmas.

That's how you deal with expensive purchases when you're poor. ?

 

[jooles]

Seems most comments are about some form of credit even if short term but over. 60% on survey say cash.

My bike was £2.5k (the good old pre covid days) and cash. No credit card cash. Bank transfer cash.

Being older skool ...like my dad said the only debt you should consider is a mortgage. But that is when interest rates were 15% plus. In the UK.

The mind boggling low current interest rates (set as such so the UK govt can afford to repay interest on £2trillion) are attractive, kids are in debt from being students and debt keeps the banks afloat. So debt is seen as part and parcel of life.

What amazes me is just how much people spend. I outlay less on cars than most to on Ebikes. My full kitesurfing outlay is tiny in comparison as there are myriad used good quality kites a few years old at 25% of new price.

My next Ebike ? I’ll buy one again from funds not on the knock. Borrowing for depreciating assets etc... ;-)

oh...and who actually owns the bike on the bike to work scheme ? What happens when the scheme finishes ?

 

[Ripping g]

Old used £20s ?

 

[Barbara_Reed]

Bank transfer for the trikes. Both on prescription in France as mobility vehicles (keeping a disabled person active) so reduced VAT, a bit of help with the cost of 631 euros each (same as they would pay for a wheelchair) plus a small grant 60 ish euros because they are eco friendly. My hybrid I used a card and paid over two months. Government grant of 200 euros on that, but you can only have that once.

 

[Labrador29]

I don't have a *credit* card and here in Oz the tax is slightly higher for eBikes than regular stuff (yes, I think it's stupid too but we also pay luxury car tax on electric cars instead of promoting them because our PM is a coal loving fucktard.). Even my Matercard and Visa are *debit* cards and the funds come directly from my bank account. It took me nearly 30 years to get out of debt and I want to stay that way. I realise I'm one of the lucky ones in that regard.

I know some people need to use credit or a loan and that's fine if you really use the bike and it's insured. You weigh up the benefits versus the payments. Riding any type of bike is good for the body and the mind. I know a lot of roadies who drop this kind of money and even golfers! When we could travel a three week holiday could cost as much as a mid range bike. People put those on cards all the time.

The real question is whether it's worth the cost, including the extras, interest and running costs? You invest in a bike and the repayments are smiles, a bit of fitness, playing in the mud and the odd broken rib. For me the answer is a resounding yes. I'd sacrifice lots of other things to buy a bike if I had to. (Does anyone know if you have to feed ALL of your kids or just a portion of them?)

Gordon

Yeah, well our 'kiss the babies' Prime Minister and her motley incompetent crew, are going to cease importing Japanese used cars in about 3-4 years. They haven't got the intelligence to realise the majority of lower income New Zealanders won't be able to afford e-mvs, or the newer used petrol or diesel motor vehicles.
Golf was my sport after I retired from rugby 45 years ago. Spent a fortune on subscriptions, golf clubs etc. etc., over the next 28 years, but
how do you measure pleasure? I have a set of top-of-the-line golf clubs, and the whole shooting box in my garage gathering dust now that I have found e-mtb'ing. I don't regret spending the dosh on a top-of-the-line e-mtb, but the maintenance cost is not to be sneezed at either. Certainly more than an annual golf subscription!
In answer to your last question, try feeding them on alternative days

 

[geehaw]

You can get 0% credit cards on purchases for up to two years. If you buy the bike via this route you get the consumer rights protection here in the UK and have two years to 1) Save up the money 2) Invest in the stock market 3) Offset your mortgage 4) Earn more money 5) get a divorce

Now I'm wondering - is an emtb an electronic device and covered under my visa extended warranty program?

Paid on visa, cleared the visa the next day.

My Visa extended warranty states motorized vehicles not covered So I assume ebike would not be covered. They do cover electronic devices like mobile phones and computers.

 

[geehaw]

I use my credit card for everything where the merchant doesent add a surcharge. Pay it in full every month so never pay intetest. Mostly for the benefits.
Damage and Theft Protection for 90 days. (Used this a few times)
Extended Warranties for 2 additional years (use this fairly frequently, although ebikes not covered)
And i get enough points for three domestic or one international trip per year.
Well worth the annual $100 fee.

 

[geehaw]

Isn't this about the time a Bitcoin ad comes up. Where are the Trolls .??

 

[motocrossman1967]

Given how expensive bikes in general, and emtb's in particular are getting, it made me wonder how many people are actually dropping the full amount up front when making their purchases, and how many are financing the purchase is some way or other.

With the explosion in the EMTB market, rising bike sales and prices, it seems to me that a lot more people than I imagine have the disposable income to blow on the bikes, or there must be some good deals to be had financing them.

Personally one of my EMTB's I paid in full funded by selling one of my motorbikes, and the other I did on a 0% finance deal over two years.

Obviously a kind of personal question, but given how may 5k plus emtb's I see rolling around the Surrey Hills these days it got me thinking.

Bike was over 5k so paid a deposit upfront and 0% finance over 3 years.

 

[whiterabbit]

I take it "Exchanged for Sexual Favours" falls under the all encompassing "Finance Deal" ?

..... your wife bought it for you?

 

[Frankenbetty]

Cash! I’m old and old fashioned and tight as a fishes arse!
after a lifetime of mortgages and crap I’m finally debt free and determined to stay that way

 

[Stihldog]

..... your wife bought it for you?

A hookah smoking caterpillar told me to use a credit card.

 

[flightrisk86]

Here is my scenario-
Went to buy a Trek Rail 9.8xt - they just changed rules around the Deposit. New orders required a 50% deposit on price of bike.
I applied for Trek card - any purchase over $500 gets 12months 0%.
When bike arrives - I make the remaining 50% on another 0% purchase via the Trek card.
In theory I will have 24months of 0% with this little dance.

 

[Cavi]

I got lucky and found a new old stock that was able to ship to me for $4000. I love my Levo, but sorry they are now on par with motorcycle prices, and I am sorry, there is much more in a motorcycle even in the development. just look at the complexity of the motor on a motorcycle. Sorry we are making Specialized very rich...... As for the other companies they are even worse as they are close in price to Specialized and they do not even have their own motors, most use Bosh or Shimano......... That would be like Ford being able to buy a generic motor to put in their cars instead of developing it.

 

[Husky430]

Sold my just purchased 2nd hand Norco Sight for the same money I paid for it, a Kawasaki F11 (a 1973 250cc 2-storke) and a 1981 Husqvarna 430 VMX race bikes and then chucked a bit of savings at it too. The savings came from my uncles inheritance, he worked at Raleigh for 25 years build wheels so I figured he would approve of the purchase of a ebike .
Nearly 2 years on, and still think it's the best toy I've ever owned.

 

[GrandPaBrogan]

I bought my eBike during the end of year sale when the bike shops don't want to get stuck with 'last year's model.'
I happened to chance upon the last handful of bikes and got mine with 30% off RRP. I don't mind this because the latest model will be the following year's last year's model anyway. I'm glad I got mine when I did, because I prefer 27.5 wheels and all the new versions of my bike are now 29ners. I tried the latest model and really didn't like the big wheels (personal preference, but I'm sure it works great for many others).

Paid for it with cold hard plastic.

Like some here have also shared, by that I mean - we put all our combined income into a bank account to work in favour of resolving our mortgage as quickly as possible. Everything we purchase is done via our credit card - which is paid in FULL every month. In effect it's like using digital cash - but this only works if we maintain the discipline of not spending what we don't have.

 

[GrandPaBrogan]

^ Oh, that was pre-Covid before the current crazy bike shortages...

 

[jerry]

Buying on finance is generally not a good idea. If you can't afford it, enjoy the perfectly good bike you have until you can.

Put in an order for a bike few months ago, with full intention to pay cash... but today, seeing the rates, I applied for finance. Bank is offering finance up to 120% of the bike value, no deposit, at 0,65% interest rate. Which comes to about 50 quid of interest over a 4-year period to finance a 6000 bike. In my opinion, an interest rate that is lower than the inflation, results in profit. But feel free to disagree.

 

[The Hodge]

£1k down ..0% finance over 3 years
Could have paid outright ..but whats the point when I can spread the cost and its costing me nowt ..

 

[Spreaders]

Sold other bikes to around the same value but used card for the purchase protection. Would have happily used a very cheap or free credit deal if I could have got the bikes I wanted at the same price but not available.

 

[Haveland]

Paid with Visa for the points but then paid off the Visa with cash.

I'm now saving for my next eMTB -- I could get one now and finance it but as I've gotten older I've realized how less stressful it is to pay for stuff with money you have. I end up having more money quicker to pay for stuff because I'm not making payments on stuff I already bought.

It did take about 3 years of hardship to flop my life around this way (meaning: buying really nothing new and just paying for what I had). But after that 3 years the money I had felt crazy..

 

[chrismechmaster]

Paid with Visa for the points but then paid off the Visa with cash.

I'm now saving for my next eMTB -- I could get one now and finance it but as I've gotten older I've realized how less stressful it is to pay for stuff with money you have. I end up having more money quicker to pay for stuff because I'm not making payments on stuff I already bought.

It did take about 3 years of hardship to flop my life around this way (meaning: buying really nothing new and just paying for what I had). But after that 3 years the money I had felt crazy..

Sounds just like my life to be honest I am in that hard 3 years of buying nothing at the moment

 

[maynard]

Cash payout for hail damage on my already damaged 4wd . I've since sold truck. Still own my levo .

 

[bigaloha]

Sold orginal Shuttle that I bought used for $7,000 in 2018 for $5,200. Bought a Switchblade for $4, 000 just before COVID and sold it for $5,700. Paid with credit card to earn points, but in truth it was paid off mostly with cash from bike sales and used a little savings to get a new Shuttle SL with some additional appointments. Points FTW!

 

[galaga187]

I wish my employer would increase the C2W limit from the £1000 they are stubbornly sticking with.

Plenty of hub drives at that price - not the bike just the hub powered wheel .