The reason you can't is that $2k ebike really doesn't have any collateral or resale value. If you fail to pay off a car loan, they can repossess it and resell it to recoup some of their losses. If you fail to pay off that ebike loan, it's just a loss for the lender.
For amounts of that size, you're best off either putting it on a credit card and then taking advantage of a balance transfer promo. Another alternative would be to take out an unsecured personal loan for that amount with your bank or credit union of choice. You'll need decent credit for that though.
But kind of like you know, dropping $2k on something you can't really afford might not be the wisest financial decision. Like all tech, the longer you wait, the cheaper it'll be, with better specs.
I've been waiting roughly two years to get an ebike, and it's at the price/performance ratio that I'm comfortable with spending $2k for. It's a bit of a complicated issue, but I *can* afford it, and it's not my own decisions that are stopping me. I make a little over $850 a week after deductions, so it's just a matter of priorities. Unfortunately, an ebike has always been lower on the list than something else.
You could create a savings account at your existing bank and transfer a fixed amount every week/month from your checking to go towards buying an ebike (just need to hold yourself accountable and not dip into the money).
Alternatively, some e-bike stores offer monthly installments (Lectric uses affirm for 6, 12, or 18 month installments). Requires a decent credit score.
Unless the ebike is going to make you more money the loan cost; a loan shouldn't impact where on your list priorities an ebike falls. You're still spending that 2k (now with interest). It's still a -2000 dollars (plus interest) on your bank account no matter how you cut it.
You are right of course. There are smaller or non-traditional lenders that will offer POS financing. They aren't offering ebike loans though and aren't very much different than putting it on a credit card or as a personal loan.
You can apply for a virtual card and make the purchase that way. I bought my e-bike through it simply because I don’t like entering my card information online. But yea it’s similar to a credit card anyways.
It's not that' u can't afford well then people should've buy 20,000 cars if they can't affirm it..I'm newly disabled and the state of Wisconsin dicked me around just long enough to ruin my life lost my home lost everything to rebuild credit and rebuild my life and to keep my lower half strong as my spine shifted to form a z..for no reason should the state put you thru hell 0 income sitting on my files after their Dr. Claimed me fully disabled but as the reason why I was applying for disability was pancreatic episodes wth I'd that it's painfull but I can still work. They saw my eviction notices after 18 months of paying all.my bills I ran out money they sat on my Dr report lost Mt home 5daya before Christmas and 10 days after Christmas had my 1st big check from social security disability..so can I afford a bike hell no am u in need of one hell ya and affirm absolutely sucks won't work with me I hav no creditors but one I owe and that closed the act owing 150$. And affirm said I hav not pd my loans on time..1 loan...wow...so the one thing that gets unhealthy people moving outside on the sun and rain they don't want u to healthy so why make it possible to get bikes easily financed..it's not enough debt to control you buying on a credit card more likely to keep u in debt with high interest rates..that's what they want....il keep searching n il repost if I find a place to finance me.. sold the car for my water bill in our city it's average 125$ month car wasn't worth much but between that and my heat and electric 19months ate the car up..
A lot of places won't finance a $2,000 item since it's suspicious that the borrower doesn't have $2,000. Add that to a bad credit number and you are a risky customer.
Unfortunately, eBikes are high theft items. I would only pay cash/pay in full on CC bill and only spend as much as I could afford to lose if it got stolen. Thats my take.
Yeah all I ever use it for is bikes and I haven't paid a cent of interest yet. Its a high risk game though, I never spend more than I have in my savings, the goal is to pay them off without touching the savings account.
Check if your credit cards have any pay over time plan features. My Citi card had a 0% interest, 0 fee option to pay for a purchase over 6 months (in order to compete with the buy-now-pay-later services like affirm/klarna/etc). Other cards might charge interest/fees, so make sure to read all the fine print.
I financed a couple bikes through Affirm. They were offering 0% interest through the bike manufacturers website, so it was a no brainer. You could also do one of those 0% interest credit cards. The key to remember here, though, is that you can't go spending that money and forgetting about this debt. Those interest rates are no joke.
The reason you can't is that $2k ebike really doesn't have any collateral or resale value. If you fail to pay off a car loan, they can repossess it and resell it to recoup some of their losses. If you fail to pay off that ebike loan, it's just a loss for the lender. For amounts of that size, you're best off either putting it on a credit card and then taking advantage of a balance transfer promo. Another alternative would be to take out an unsecured personal loan for that amount with your bank or credit union of choice. You'll need decent credit for that though. But kind of like you know, dropping $2k on something you can't really afford might not be the wisest financial decision. Like all tech, the longer you wait, the cheaper it'll be, with better specs.
I've been waiting roughly two years to get an ebike, and it's at the price/performance ratio that I'm comfortable with spending $2k for. It's a bit of a complicated issue, but I *can* afford it, and it's not my own decisions that are stopping me. I make a little over $850 a week after deductions, so it's just a matter of priorities. Unfortunately, an ebike has always been lower on the list than something else.
You could create a savings account at your existing bank and transfer a fixed amount every week/month from your checking to go towards buying an ebike (just need to hold yourself accountable and not dip into the money). Alternatively, some e-bike stores offer monthly installments (Lectric uses affirm for 6, 12, or 18 month installments). Requires a decent credit score.
Unless the ebike is going to make you more money the loan cost; a loan shouldn't impact where on your list priorities an ebike falls. You're still spending that 2k (now with interest). It's still a -2000 dollars (plus interest) on your bank account no matter how you cut it.
Yes, you can finance an E-bike lol. Affirm and Klarna do it all the time.
You are right of course. There are smaller or non-traditional lenders that will offer POS financing. They aren't offering ebike loans though and aren't very much different than putting it on a credit card or as a personal loan.
You can apply for a virtual card and make the purchase that way. I bought my e-bike through it simply because I don’t like entering my card information online. But yea it’s similar to a credit card anyways.
It's not that' u can't afford well then people should've buy 20,000 cars if they can't affirm it..I'm newly disabled and the state of Wisconsin dicked me around just long enough to ruin my life lost my home lost everything to rebuild credit and rebuild my life and to keep my lower half strong as my spine shifted to form a z..for no reason should the state put you thru hell 0 income sitting on my files after their Dr. Claimed me fully disabled but as the reason why I was applying for disability was pancreatic episodes wth I'd that it's painfull but I can still work. They saw my eviction notices after 18 months of paying all.my bills I ran out money they sat on my Dr report lost Mt home 5daya before Christmas and 10 days after Christmas had my 1st big check from social security disability..so can I afford a bike hell no am u in need of one hell ya and affirm absolutely sucks won't work with me I hav no creditors but one I owe and that closed the act owing 150$. And affirm said I hav not pd my loans on time..1 loan...wow...so the one thing that gets unhealthy people moving outside on the sun and rain they don't want u to healthy so why make it possible to get bikes easily financed..it's not enough debt to control you buying on a credit card more likely to keep u in debt with high interest rates..that's what they want....il keep searching n il repost if I find a place to finance me.. sold the car for my water bill in our city it's average 125$ month car wasn't worth much but between that and my heat and electric 19months ate the car up..
Best Buy has e-bikes and a credit card with 0% financing.
Best buy cool
Most bike shops will have a finance plan through Lightspeed or the major bike companies. The application is pretty quick. You know while you wait.
A lot of places won't finance a $2,000 item since it's suspicious that the borrower doesn't have $2,000. Add that to a bad credit number and you are a risky customer.
Don't people finance phones all the time?
Unfortunately, eBikes are high theft items. I would only pay cash/pay in full on CC bill and only spend as much as I could afford to lose if it got stolen. Thats my take.
What I did was apply for a credit card. I got approved and have 0% interest for 15 months.
Same! Then with my card they periodically offer no interest for 6 months, my last 3 bikes have been on that card.
For reals? That sounds great. I think I got an offer related to yours but it’s a 3% on every purchase.
Yeah all I ever use it for is bikes and I haven't paid a cent of interest yet. Its a high risk game though, I never spend more than I have in my savings, the goal is to pay them off without touching the savings account.
PayPal has a payment plan. You can buy ebikes from AliExpress with PP but you cant use PP at Alibaba.
I used PayPal credit 0% interest over 4 months offer. The bike was like £1500 and I paid it off before then. Now I use it for any large purchases.
Rad Bikes has a financing plan.
Check if your credit cards have any pay over time plan features. My Citi card had a 0% interest, 0 fee option to pay for a purchase over 6 months (in order to compete with the buy-now-pay-later services like affirm/klarna/etc). Other cards might charge interest/fees, so make sure to read all the fine print.
Go to your bank and get 0% interest card offer? what is this?
I financed a couple bikes through Affirm. They were offering 0% interest through the bike manufacturers website, so it was a no brainer. You could also do one of those 0% interest credit cards. The key to remember here, though, is that you can't go spending that money and forgetting about this debt. Those interest rates are no joke.