RNPL: bicycle finance allows you to ride now and pay later
How does bicycle finance work in South Africa? You can typically finance a bike of R15k or more and not older than 3 years. Including road, MTB, gravel, E, TT or tri bike. And it can be from a retailer/shop or when buying from a private person, ie Bikehub or Facebook marketplace. PSA: Just remember when selling, don’t send the bike before the money reflects in your account 😊
Now you can BNPL (buy now pay later) and RNPL (ride now pay later). Here are over 10 bicycle finance options available locally. Of which some are providers, and some are white-labelled. And for the astute reader there are 5x unique FSP or NCR bicycle finance providers listed below.
YONDA bicycle finance
Yonda was launched privately in 2012. And say they are the market leaders for bicycle finance in SA with 280+ accredited dealers. And have partnered with major SA banks. Yonda is backed by Wesbank. They say you can get pre-approved in 30 seconds. With a quick online application. Which shows an average interest rate of 13.74% at the time of writing. Compared to the current prime lending rate of 11.5% in South Africa. With YONDA you can choose from 12 to 48 months to repay the bicycle loan. And in the example, if you buy a R50k bike over 4 years it costs R1430pm. Yonda is based in Howick, close to where we passed through on the Amashova bicycle race from PMB to DBN this very weekend. More on Bicycle finance South Africa | Yonda Bicycle Finance below.
Bicycle Finance SA
https://www.bicyclefinancesa.co.za/
This purple and orange website falls under Wozipo Capital, NCRCP402. And they also do other types of finance, ie employee payroll finance, 4×4 accessory finance, water sport finance and art finance. The bicycle finance application looks to be very much a manual one, but typically takes 3 working days. Bicycle Finance SA’s lending rates differ and they state 18% as an example. Same for the lending term, which runs from 6 to 36 months. But you can finance more than just bicycles, including forks, groupsets, handlebars. And, if bought together with the bicycle, also pedals, tubeless conversions, helmets, shoes, sunglasses, bottle and cages, bags, computers and trainers. Wow. Bicycle Finance SA – Finance for the bike you need.
ROLA bicycle finance
https://www.rola.co.za/bicycle-finance
The Clever Company (Pty) Ltd is trading as Rola Financial Services (FSP 51266). Only for new bicycles of R25k or more. Their online example defaults to 11% interest rate and 48 months. Which on a R50k bicycle gives a monthly repayment of just under R1300pm with a zero deposit. With brand ROLA brand ambassadors Mariska Straus and Alan Hatherley, they’ve made sure to be noticed! And did you know of the ROLAcoaster MTB trail at Lourensford? Fit for an EPIC! Here is Mariska to introduce the ROLAcoaster below. Bicycle Finance | Finance Your Cycling Passion
Cyclelab bike finance
https://www.cyclelab.com/unbeatable-bike-finance
Unbeatable Bike Finance. Cyclelab is certainly bog enough to have their own bike finance. They have partnered with WESBANK. Which is an authorised Financial Services and Credit Provider under NCRCP20. The minimum term is 3 years. And the minimum amount is R10k. You can finance only 1 bike per application. And their bicycle finance is only available to individuals, not companies. Their bike finance calculator shows that a R50k bicycle bought at 13% over 4 years will coast around R1444pm to pay off. Please note that The following can NOT be financed: Nutrition, Shoes, Clothes, Sunglasses, Bottles, Bags, Computers and lights, Home Trainers.
BIKE ADDICT bicycle finance
https://bike-addict.co.za/pages/bicycle-finance-sa
Bike Addict in Malmesbury (not far from us in Stellenbosch) uses Bicycle Finance SA as bove. Part of the Wozipo group of companies. On the upside you can finance almost anything other than nutrition and sealant (because there has to be a cut-off point somewhere, right). R10k and up over 6 to 36 months. Shop till you drop, as The following CAN be financed: Bikes, Forks, Gear/Group sets, Handle Bars, Pedals, Bottle Cages, Pumps, Tubeless conversions, Helmets, Shoes, Clothes, Sunglasses, Bottles, Backpacks / Camelbaks, Computers and lights, Training watches, Home Trainers, Bike carriers, Tailgates, Travel Bags, Action cameras. Get a quote, get approved, pay 10% deposit, and collect your bike from the shop. Or we can send it to you…
TREK bicycle finance
https://www.trekbikes.com/za/en_ZA/bicycle-financing/
TREK also partnered with YONDA. So the offering should be very familiar it you started reading at the top of this page. The following T&C apply. Any Processing Fee for the above listed finance offers / loans to be paid by applicant / customer at the time of application itself. Bikes must have a minimum value of R20 000. Acceptance of loan application, its processing, sanction and disbursal of the loan amount shall be at the sole discretion of Yonda and will be subject to the rules, terms, conditions, policy and procedures of Yonda and Wes Bank. Trek reserves the right to withdraw /or change the scheme at any point without prior notice. TREK bicycle finance: Finance your dream bike.
BIKET bicycle loan calculator
https://biket.co.za/pages/bike-finance
Connect the dots. Biket sells Trek. Trek uses Yonda for bicycle finance. So Biket uses Yonda for bicycle finance. And Yonda partnered with Wesbank for bicycle finance. There you have it. Full circle. All that remains is to browse through the catalogues or visit your nearest store because at the time of writing TREKFEST is in full swing. What is on your shopping list? And will you be financing your bicycle through Biket ie Yonda and Wesbank? Bike Loan Calculator – YONDA BICYCLE FINANCE.
RENEWED group bicycle finance
https://renewedgroup.com/finance/bicyclefinance/
Now here is a thought. And something NEW. The total premium could be fully deductible from your taxable income (for business clients). And YES, the Renewed group bicycle finance is available to both individuals and legal entities. Now you can finance your bicycle, wheelset and accessories in the name of your company. The rental is an operating rental and can be fully deductible in your client’s hands. So, this is a RENT-TO-OWN model. There are many benefits to providers (ie shops) of these products listed on their site. Ie The rental agreement is structured in such a way that the client perceives the rental products as being specially structured for his use by the supplier. This reinforces your ongoing relationship with the client. Bicycle Finance!
Specialized bicycle finance
https://specializedbicyclesafrica.com/
YES, I am a Specialized fan and YES, we have covered YONDA bike finance above. And even though the Specialized SA website does not specifically mention that they are using YONDA to finance bicycles purchased through them, the text is straight from the latter’s marketing material. Ie lowest rates. Partnered with SA banks. 12-48 months. Values of R15k and up. not older than 3 years. OH, and did you know that you can settle your bicycle finance account in full at any time, with no financial penalty. That’s great! From Specialized Bike Finance: HOME.
FUZION group bicycle finance
https://fuzion.co.za/bicycle-finance/
Fuzion motor group says they finance all bicycles valued at R25 000 and higher. And for your hassle-free process, all you need are the following docs. Copy of your ID. 3 months’ bank statements, 3 months’ pay slips. Proof of address. And the quote for your new (or soon to be) bicycle. Take your adventure to the next level with Fuzion Bike Finance. Finance your bicycle through their easy process. Finance Your Bicycle with Fuzion.
BIKEMARKET finance
https://bikemarket.co.za/home/finance/
Bikemarket has the non-bicycle-specific payflex option. Which allows you to pay with zero interest and no fees in 4 installments over 6 weeks. How does payflex work? You pay a larger amount upfront with the remainder spread across three payments over the following six weeks. And BIKEMARKET also allows you to finance your bicycle bought from them over 12-48 months from 11.5%. On any amount over R20k. and yes, you can also finance Pedals, Bottle cage, Handlebars, Tubeless conversion, Helmets, etc. hop on over to Bikemarket and see if the have and carbon TREK road bikes in size 56 with disc brakes for you to consider. I think I found one. Finance – BikeMarket.co.za.
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