How much do you want to spend on your mountain bike?
Financing A Mountain Bike
If you want a cheap bike, you can probably come out of pocket for it, no problem. A cheap mountain bike from a big box store can be had for one or two hundred dollars. The problem is, if you really intend to use your bike, a cheap sporting good gear will not get you far.
Cheap mountain bikes will break easily and lack the suspension and design to get the job done. If you are serious about mountain biking, you need a serious bike.
Unfortunately, serious bikes come with serious prices. You can pay anywhere from 1000 dollars to 10,000 dollars for a top of the line bike. This is where we come in.
If you do n0t have thousands of dollars burning a hole in your pocket, we can help, even if you have bad credit. Take a look at how you can get a mountain bike financing offer in just a few minutes.
Getting Your Loan Offer
We make getting an offer for your mountain bike easy. Just scroll back up to the top of the page and fill in the very short loan form. Most people can complete it in just a matter of minutes. It only asks for some basic contact information, information about your income and banking information. Lenders need your bank information because this is how they send you the money for your bike, but we will get to that in a minute.
Once you have entered in your information, simply check everything for accuracy and submit your form. It will then be sent to the lender group for approval. If approved, a single lender will make you an offer for the financing you need. You may be able to get an approval, even with bad credit because this is a large lending group with all kinds of lenders.
If approved, you will be directed to the lenders website where they will present the offer. We ourselves do not have any details of the loan, this will be between you and your lender. If you like the terms of your offer, you can accept it and the lender will get you your money just as soon as they can, often the next business day. Don’t like the loan offer, no problem, just turn it down.
Deciding On Your Financing Offer
Before you commit to a loan, make sure that you understand all of the loan terms and that they are acceptable. This is a loan for a luxury item after all, so if the loan fees and/or interest are too high, you should probably walk away.
Make sure that you can first and foremost afford the loan payment. Put the payment into your monthly budget and make sure that you have sufficient room.
Also, take a look at the total cost of the loan. This is how much the loan will cost you over the entire life of the loan. Be sure that the cost is not too high.
Buying Your Mountain Bike
If you decide to accept your loan offer, your lender will deposit money directly into your bank account. This means that you can buy your bike just like any other cash buyer out there. This comes with a number of benefits to you.
The biggest benefit is that you are not locked down to one retailer. If you were to be approved for store credit, you would have to buy at that store only and this means that you would have a limited selection and limited ability to price shop.
Since you will have cash in your account for your mountain bike, you can shop wherever you like, in person or online. That allows you to both get the exact mountain bike that you like as well as the best price. It can save you hundreds of dollars on the purchase price, depending on the bike you are interested in.
Mountain Bike Loan FAQ’s
By now, you might have a few questions about mountain bike financing, so we would like to answer some of the most common ones.
1) Can I get a loan with bad credit?
Yes, you may be able to get a loan for a mountain bike even if you have bad credit. We give you access to a number of lenders that may be able to work with you. While, if approved, you will only get one offer, getting in front of more lenders means better odds of getting a yes.
2) What do I do with extra money?
If you take out a loan with a lender from our group they will give you a cash loan. Any extra cash is for you to do with as you please. Buy extra gear for your bike, buy a tent for camping or anything else you like.
3) How will I get my money?
If you accept a loan, your lender will deposit money directly into your bank account. This can happen as soon as the very next business day.
4) What are my loan fees?
We have no knowledge of the details of your loan. What we do is put you into contact with lenders. Since we are not lenders, we can not guarantee approval and we can not quote you any loan terms. Make sure that your lender has explained all loan terms to you before you agree to a loan.