We all love mountain bikes but that doesn’t necessarily mean we can all afford what we want. Yes, there are low priced mountain bikes to fit pretty much everyone’s wallet but if you’re like me, you’ll want the best bike to suit your riding potential. This usually means that the mountain bike you want, is expensive. However, this does not mean you can’t afford it.

The following options are available for purchasing your next mountain bike on finance, with a loan from one of these leading retailers.

Evans Cycle Finance

Evans Cycles offer competitive finance packages for purchases on all bikes. Finance is available for all orders above £330 and up to a maximum value of £5,000. A minimum 10% deposit is required by credit or debit card. If you are looking to purchase a bike above the £5,000 maximum, you can pay the difference by credit or debit card and the rest on their finance scheme.

Finance terms are as follows;

  • 12 months interest free – orders over £330
  • 24 months interest free – orders over £2,200

Finance is available over 12 or 24 months and as always, is subject to status. Applicants are required to be at least 18 years old, employed and a UK resident for the last 3 years to qualify. Typical APR is 0% or Representative as we now have to call it.

Wiggle Finance

Finance at Wiggle is available via their Classic Credit scheme. It is available on all bike orders over £280 and requires a minimum 10% deposit. Finance is provided at a representative 19.9% APR over 36 months.

Chain Reaction Cycles Finance

The Chain Reaction Cycles finance option has now been set up to offer UK customers the opportunity to purchase their products over an extended period when with finance being provided by one of the UK’s leading online Finance companies, V12.

To qualify for finance customers must spend a minimum of £300. Customers have the option of two payment options;

  • #1: Classic Credit which offers a fixed 36 or 48 month repayment period
  • #2: Buy Now Pay Later which allows you to buy now and pay NOTHING for 12 months. Then have the option to clear the balance incurring NO INTEREST, or pay the balance off with fixed monthly payments (APR Applies)

The loan application is processed online and an instant approval decision is made! There is also the option to include Payment Protection Insurance (PPI) should you so desire but do NOT take it if you don’t need it. Ask a qualified independent financial adviser if you are unsure. Finance is available to customers with a UK residential address only.

Hargroves Cycles Finance

With all new model bikes listed at the full retail price, Hargroves Cycles offer 0% finance. At time of purchase you will fill out the form with all personal details required. They then contact Moneyway for authorisation.

Upon approval 10% of the bike value is debited to your debit or credit card. The remaining balance is then debited over 6, 12, 18, 24 or 36 equal monthly instalments until your balance is reduced to nil. Here are the options;

  • 6 months 0% finance on bikes £250 and up
  • 12 months 0% finance on bikes £250
  • 18 months 0% finance on bikes of £500 and up
  • 24 months 0% finance on bikes of £1000 and up
  • 36 months 0% finance on bikes of £2000 and up

If you wish to buy a £3,000 bicycle and pay off the balance over 6 months, you are welcome to do so, but it is not possible to buy a £300 bike and pay off the balance over a longer period than 12 months.

You are not able to cancel the finance agreement once it is set in motion, but you do have options to pay off the remaining balance after ¼, ½ or ¾ of the way through your finance period.

0% finance is one of two options available against new full priced bikes.