Sparky and the Warden Posted September 22, 2017 Share Hello I know this has been a hot controversial topic but it's FRIDAY! The question is simple who is using what financial institution? Reason I ask is a friend was looking into it but the company bikelife said that they're not financing any more bikes.... Any recommendations would be appreciated! Have an epic Friday it's almost the long weekend!!!!!(Happy dance) Link to comment Share on other sites More sharing options...
Jurgens Smit Posted September 22, 2017 Share Hello I know this has been a hot controversial topic but it's FRIDAY! The question is simple who is using what financial institution? Reason I ask is a friend was looking into it but the company bikelife said that they're not financing any more bikes.... Any recommendations would be appreciated! Have an epic Friday it's almost the long weekend!!!!!(Happy dance) The guys that ran bikelife now have a company called Yonda. Powered by Wesbank I believe.Finance is a completely viable option if it suits your budget, does not put you under financial strain and you don't mind the interest you pay back. I've financed all my bikes and will likely do so again. https://www.yonda.co.za/ Escapee.. and Sparky and the Warden 2 Link to comment Share on other sites More sharing options...
rudi-h Posted September 22, 2017 Share The guys that ran bikelife now have a company called Yonda. Powered by Wesbank I believe.Finance is a completely viable option if it suits your budget, does not put you under financial strain and you don't mind the interest you pay back. I've financed all my bikes and will likely do so again. https://www.yonda.co.za/ seeing that its friday... i haven't met anybody that "doesn't mind paying back interest", neither have I found anyone in need of a loan not to be put in financial strain because of more debt... good sales pitch though, but the more sound advise is that high-interest finance for minor goods is not a (edit) viable smart option. Edited September 22, 2017 by rudi-h Kalahari Vegmot and ChUkKy 2 Link to comment Share on other sites More sharing options...
khayale Posted September 22, 2017 Share Sometimes there are super bike specials (think 50%). I financed my first bike at I think 13% interest over 24 months and paid it off in 10 months. Even if I paid it off over the full term the discount far outweighed the interest charged. I would not have done so on a 10% discount. It may be useful for your friend to review his budget and determine what he can afford. P.S. Wesbank has been doing it for a while and their systems are quite sound (you can monitor the facility and easily request a settlement when ready. Edited September 22, 2017 by khayale Link to comment Share on other sites More sharing options...
Heel Drop Posted September 22, 2017 Share Sometimes there are super bike specials (think 50%). I financed my first bike at I think 13% interest over 24 months and paid it off in 10 months. Even if I paid it off over the full term the discount far outweighed the interest charged. I would not have done so on a 10% discount. It may be useful for your friend to review his budget and determine what he can afford.bikelife could not finance discounted bikes so how did you manage to do that Link to comment Share on other sites More sharing options...
Shebeen Posted November 14, 2017 Share Don't finance toys. slickjay007, Albatross, Steven Knoetze (sk27) and 8 others 11 Link to comment Share on other sites More sharing options...
dave303e Posted November 14, 2017 Share Don't finance toys. +1, never finance but always insure He who dies with the most toys, WINS! Hairy, Wimpieva and Dexter-morgan 3 Link to comment Share on other sites More sharing options...
Hairy Posted November 14, 2017 Share Don't finance toys. +1, never finance but always insure He who dies with the most toys, WINS!1 gazzillion percent agreed!!!!! Link to comment Share on other sites More sharing options...
Shebeen Posted November 14, 2017 Share This proves my point exactly, stick to riding bikes and talking about them with Gerald. These okes are going to do you inn eventually. Wayne Potgieter 1 Link to comment Share on other sites More sharing options...
Hairy Posted November 14, 2017 Share This proves my point exactly, stick to riding bikes and talking about them with Gerald. These okes are going to do you inn eventually.I am sure they could "fix" you a good deal ........ Link to comment Share on other sites More sharing options...
Albatross Posted November 14, 2017 Share as a wise old man once said "live by your means" Steven Knoetze (sk27), Red Robin, Patchelicious and 3 others 6 Link to comment Share on other sites More sharing options...
Patchelicious Posted November 14, 2017 Share Oh gaaawwddd you guys are going to get Myles all wound up, he is probably 5 pages into his 20 000 word white paper on why it’s a viable option, will be titled “Bicycle Finance, it’s not all Mayhem!”. ChUkKy, Kalahari Vegmot, PhilipV and 2 others 5 Link to comment Share on other sites More sharing options...
Hairy Posted November 14, 2017 Share Oh gaaawwddd you guys are going to get Myles all wound up, he is probably 5 pages into his 20 000 word white paper on why it’s a viable option, will be titled “Bicycle Finance, it’s not all Mayhem!”.flipping great title for a book if you ask me Patchelicious and dirtypot 2 Link to comment Share on other sites More sharing options...
Coolspin Posted December 1, 2017 Share Don't finance toys.So it seems that financing bicycles is not deemed to be smart by many hubbers, lets say its the common view, think there have been other threads on this topic.But,,, many people do finance toys, eg, motorbikes, boats, jetskis, fancy cars, aircraft.Whats the real difference? If you finance 100k motorcycle, okFinance 100k on a 250k car that you cannot afford to buy cash, okFinance a bicycle for 30k, you are branded an idiot ? Dont get the logic. Escapee.., WaynejG, Sparky and the Warden and 7 others 10 Link to comment Share on other sites More sharing options...
Butterbean Posted December 1, 2017 Share So it seems that financing bicycles is not deemed to be smart by many hubbers, lets say its the common view, think there have been other threads on this topic.But,,, many people do finance toys, eg, motorbikes, boats, jetskis, fancy cars, aircraft.Whats the real difference? If you finance 100k motorcycle, okFinance 100k on a 250k car that you cannot afford to buy cash, okFinance a bicycle for 30k, you are branded an idiot ? Dont get the logic.I think the general feeling exists because of a few reasons, at least, they're the ones that stop me from financing a super bicycle: Massive rate of depreciationRisk of total loss is much higher than mang hobbies Fact that it's a very personal item, ie, no one else is going to be riding your bikeMaintenence costs Likelyhood of changes and upgrades Hell, the cost to insure a bike is nearly a vehicle repayment. Finance if you must, if you can really afford the finance, and if you're going to make the effort to pay it off sooner. There are much worst things you can blow money on each month anyway. Basil 1 Link to comment Share on other sites More sharing options...
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