• 04-27-2013
    WC_Mike
    Bike shops that have financing
    Hey everyone my apologies if this is the wrong section.
    Just getting back into biking and wondering if anyone knows of any bike shops in the vancouver tri cities area that has financing available. I dont have the money up front, I was looking at buying used save me some money but since I have not a lot of knowledge I want to make sure I am fitted right and I don't buy so thrashed used lemon of a bike.
    I figure bikes can be fairly substantial in cost more so than my first car someone has got to offer financing? Any help would be great thanks. And once again sorry if this is in the wrong section.
  • 04-27-2013
    cerebroside
    Buying used isn't too hard, and Vancouver is a great place to buy a used bike. Check the Pinkbike Classifieds here, and post if you're not sure if it's a good deal or not.
    I would probably avoid financing, especially for something that is not essential.
  • 04-27-2013
    rockyuphill
    Consumer financing through a retail outlet is rarely any cheaper in interest than a typical credit card. Something like a bike is considered an unsecured loan as the bike doesn't hold enough value to be a self collateralized loan. If you can't walk into your bank and get a demand loan, or a credit card, you likely wouldn't qualify for a retail consumer loan either.

    There'd be a small chance that one of the bigger retail shops like John Henry Bikes or Cap's Bicycles might offer some kind of financing option, but likely only on some brands (the manufacturers that have a floor plan to put inventory on the shop floor) and likely a limited range of bike price, and short term financing, like 90 days.

    Likely quite a few retail bike shops would do a layaway plan so you could start putting money down against a bike purchase.