Touring bike purchased with a loan.

Bicycle Financing With Bad Credit

Even if you have poor or bad credit, we may be able to help you get an offer for the bicycle financing you need. It takes just a minute to get your answer. If approved, you could be shopping for your bike as a cash buyer. Buy the exact bicycle you want at any dealer.

First, how much will you need to borrow?

Riding an e bike in the woods after getting bad credit bicycle financing.

About Bike Financing Online

If you need a sporting goods but have bad credit, online bicycle financing might just be the ticket. It has a number of advantages over store credit, especially if your credit rating is poor or has seen better days. Let’s take a look.

The primary advantage of online bike financing is that it may be easier to get with bad credit. With a store card, you are usually dealing with just one finance company and they often have high standards. Fail to meet these standards and you get denied. With online lending, there are more lenders ans that can increase your odds of getting that one loan offer.

Another advantage to online lending with a group like ours is that you will get your money in cash. That will allow you to buy the exact bike that you want and not be limited to just what one store offers. This is particularly important if you have a certain bike in mind like a specific brand of mountain bike or even an e bike.

Last, but certainly not least is the entire convenience factor. It is far easier to apply for bike financing for bad credit online. Doing so at a store is inconvenient and could be potentially embarrassing if you were to get denied.

Getting Your Bicycle Financing Offer

Now that you can see the benefits to this online bicycle financing thing, even with bad credit, why not familiarize yourself with the process. Here is the basic process in a nutshell.

You will get started by filling out the quote form which is located at the top of the page. This should just take a few minutes at most. Enter in how much you expect to need to borrow and a little information about yourself. Wrap it all up by entering in where you want your money to be sent.

When you are done, take a look at the terms of service and if you agree, hit submit. Then, you just need  to wait for your answer which usually comes fairly quickly. If approved, one of the lenders in the group will make you a cash loan offer that you can use for bicycle financing. You will be sent to their website where you can take a look at this offer.

At this stage of the game, it is important for you to slow down and read the terms of the offer. A loan for bad credit has the potential to have some rough terms. Make sure they are agreeable to you. Ask yourself a few questions before you decide, things like:

  • Can you afford the payment on your bicycle loan?
  • Is the cost of the loan too high?
  • Do you have other options besides financing?

If, after taking time to review the offer, you decide to go ahead, you can typically complete the process online. Then, your lender will go about getting you the money that you need ASAP. That might be as soon as the next business day.

Buying Your Bicycle

If you decided to accept an offer, once you have your money, you can immediately start shopping for a bicycle. Your lender will get you the money just as soon as possible and this can happen as soon as the next business day. Keep in mind also that this will be a cash loan and that means that you can shop for your bicycle anywhere you like. This is a huge benefit.

When looking for your bicycle, be sure to take full advantage of having cash by taking the time to shop multiple dealers or stores. This is particularly important with things like electric bikes or e bikes that can vary wildly from dealer to dealer.

Another option to consider is the used market. Having cash could let you buy a gently used bike and then use your extra money for whatever you like. Buy gear for your bike, a home gym or even a new outdoor smoker. The choice is up to you.

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