Finance is a great way to spread the cost of buying an electric bike. We can offer finance on any order over £500 excluding a minimum deposit of 10%.
Our finance is provided by V12 Retail Finance
We offer 0% Interest-free credit over 6 or 10 months and comparatively 14.9% interest bearing credit on 12-48 months (subject to a minimum order value)
If you would like to see a finance example on a specific bike, simply click on the V12 link above the Add to Basket button which will open a pop up window showing available options. Furthermore, select the rate and term and then adjust the deposit slider to see your typical monthly payments.
Any V12 finance application is explicitly subject to a credit check and acceptance by V12 Retail Finance.
The Electric Bike Shop Limited t/a ecycledirect.co.uk is authorised and regulated by the Financial Conduct Authority, registration number 815537,. Furthermore it acts as a credit intermediary and not a lender, offering credit products provided by a limited number of finance providers, including V12. We recommend to always get independent financial advice before entering into any finance agreement.
Credit provided is subject to age and status. We may receive a commission if your application is successful, and the amount may vary depending on the product chosen and the amount of credit taken out.
Finance Example
This example shows the repayments on a 0% interest rate. Conversely, with a deposit of £500 and the remaining balance spread over 10 months.
Bike Cost: £2399
Deposit: £239.90 (minimum 10%)
Loan Value: £2159.10
Repayments: £215.91 p/m over 10 months
Comparatively, we also offer E-Bike finance up to to 48 months at 14.9% typical APR (interest rate may vary).
Bike Cost: £3599
Deposit: £359.90 (minimum 10%)
Loan Value: £3239.10
Repayments: £88.46 p/m over 48 months
V12 Retail Finance Limited act as a credit broker and therefore introduces you to Secure Trust Bank Plc, its parent company.
If your application for finance is successful, consequently you will enter into a Credit Agreement with either Secure Trust Bank PLC or Omni Capital Retail Finance Limited.
V12 Retail Finance Limited is authorised and regulated by the Financial Conduct Authority under registration number 679653 .
Secure Trust Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 204550.
Omni Capital Retail Finance Limited is authorised and regulated by the Financial Conduct Authority under registration number 720279.
V12 Retail Finance is a trading name of Secure Trust Bank PLC.
Registered address:
V12 Retail Finance Limited
Yorke House
Arleston Way
Solihull
B90 4LH
Correspondence and Trading Address:
V12 Retail Finance Limited
25-26 Neptune Court
Vanguard Way
Cardiff
CF24 5PJ
What Information Is Required To Apply For Finance?
You will be asked for personal information including your full name, 3 years of address history, your date of birth, an email address, telephone contact details, employment/income information and bank details so you can be identified. Additionally, a credit check completed.
What Is The Criteria To Be Eligible For Finance?
To apply for finance you must:
- Be at least 18 years of age
- Have been a UK resident for 3 years or more
- Be able to make repayments by direct debit
- Provide proof of id (valid photo card driving licence, old style driving licence or valid passport)
- Provide proof of address
What Happens If My Application Is Approved?
You will have to electronically sign your agreement so we can complete your order. Furthermore, if you have chosen to Click & Collect your order, to release the goods to you, you will need to bring in your photo ID, proof of address and additionally the card you paid your deposit with. Conversely, without these, we cannot release your order.
What If My Application Is Referred?
By and large, referred applications usually mean V12 want additional information from you. They will certainly contact you directly for this which may delay completion of your application.
What Can I Do If I Am Declined Finance?
Despite not being approved, you will be informed if your application has been declined however V12 will not disclose the reason to us.
Correspondingly, some reasons your application might be refused may basically be:
- you do not meet the eligibility criteria forthwith (see above);
- adverse credit reference agency information;
- your credit score;
- you are considered to be overcommitted; or
- your existing account performance with other lenders.
Can I Change The Delivery Address Of My Order If I Have Purchased On Finance?
No, we can only deliver to the address you have explicitly given us on your finance agreement.
Can I Pay Off My Finance Agreement Early?
Indeed you can. Contact V12 directly who can confirm your account balance and equally take payment.
Can I Make Overpayments?
Yes you definitely can. Depending on your account balance and the overpayment(s) you make, accordingly you will be able to reduce the term of your loan or conversely keep your monthly payment the same or reduce the monthly payment of your loan for the remainder of your original term.
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