Authorised FSP No: 52167

Mon – Thur 08h30-16h30 | Fri 08h30- 14h00

Bicycle Finance

Cycling Finance: Stay Ahead of the Game with Flexible Upgrades

At Renewed Group, we understand the passion and enthusiasm of cyclists, and we have developed a specialized finance product to cater to their unique needs. Our finance solution for enthusiastic cyclists allows them to stay relevant and keep up with the rapidly advancing sport of cycling. We know that technology and equipment advancements are constantly shaping the cycling industry, and our financing option ensures that cyclists can access the latest and most innovative gear whenever they need it. With our flexible finance terms, cyclists have the added benefit of upgrading their equipment at any time, ensuring that they always have access to cutting-edge technology. We believe in demonstrating how the cost of ownership can outweigh the initial purchase price, helping cyclists make informed decisions that maximize their investment. With our finance product, we empower cyclists to enjoy the thrill of the sport while staying at the forefront of cycling advancements.

What you need:

Personal Capacity:

  • Last 3 months bank statements (Internet statements are accepted)
  • Last 3 months’ salary advises
  • Copy of your ID
  • Completed Application Form
  • Quote from bike shop
 

Business Capacity:

  • Last 3 months Business bank statements (Internet statements are accepted)
  • Company Documents
  • Copy of all members ID
  • Completed Application Form
  • Quote from bike shop

How do we work?

We finance according to an operational rental model which has various advantages:

VAT claimable

Due to the operational rental approach, VAT can be claimed on the premium in terms of such costing. (for business clients that are VAT registered).

Fully Deductable

As is the case with golf green fees, your riding expenses (instalment/ premium/ insurance), when in the company of your clients, could be fully deductible from your taxable income (for business clients).

Off the Balance Sheet

Since the rental agreement is off the balance sheet, it does not affect the gearing of the company

Select your Terms

We finance bicycles over a period of either 12, 24 & 36 months

Best For You

Advantages of doing it the RENEWED way
  • Total flexibility concerning upgrade by addition
  • Rentals can be tailored to fit in with your needs
  • Rentals are viewed as an operating cost – thus off-balance sheet
  • The total premium could be fully deductible from your taxable income (for business clients).
  • Results in the lowest after-tax cost to you (for business clients).
  • Enables you to keep up to date with the newest bicycles
  • Gives you flexibility
  • Offers you the most convenience
  • Enables you to replace equipment when maintenance costs become excessive

Who can be financed?

Any Business
  • Ltd Company
  • Private Company
  • Closed Corporation
  • Trust
  • Sole Proprietor
Any Individual
  • Older than 18 years
  • Full time employed for longer than 24 months

What can be financed?

  • Any new bicycle or frame from OEM approved dealer
  • Wheels sets
  • Attachments (e.g. Indoor trainers)
  • All accessories (e.g. GPS and navigation)

*only serialized accessories, limited to 10% of bicycle value*

Stay Informed and Ride Ahead with Rental Financing

RENEWED is aimed at ensuring that clients are continually kept abreast of the latest financial developments in the cycling market, and to address the individual needs of these clients. It is with this understanding of the industry that rental financing is offered by RENEWED.

Tailor-made packages are crafted depending on the client’s requirements to cater for cash flow and budget constraints, rent-free periods, residual values, bullet payments, etc. An overview of the major aspects of the rental concept is included for your perusal.

Benefits of Rental

Control of the Transaction

By using our product, your salesman has total control over the sale. Many of you will know the frustration of waiting for your client to arrange financing, and never being sure whether he was arranging matters or just keeping you on a string.

Rental vs Cash

Renewed Gear offers your client an inexpensive way to have use of equipment he needs without draining his available cash. The client will also not have to use up his available credit lines with other institutions.

Cash flow improved

If all the documents are in order and the client is approved, we pay out the full amount due on delivery. You do not need to carry debtors. Therefore, your cash flow is improved and bad debts reduced.

Quoting monthly rentals rather than capital

Inflation has pushed the price of goods to very high levels and often the capital price scares off the client. Quoting the monthly figure enables the client to concentrate on the actual monthly cost instead of a huge capital outlay.

Affordability

The monthly rental can be structured (within reason) to suit your client’s budget.

Enhanced Profitability

There will be no need to allow cash discounts thereby improving your profit margins.

Ease of use

The documents are user friendly. You also save your client the time and convenience of looking for finance.

Tax deductible

The rental is an operating rental and can be fully deductible in your client’s hands.

Protection of client base

When a client buys for cash he is free to buy from your competitor without your knowledge. However, if a client is using our rental product, we immediately alert you should the client ask for a settlement figure.

 

Relationship support

The rental agreement is structured in such a way that the client perceives the rental products as being specially structured for his use by the supplier. This reinforces your ongoing relationship with the client.

Upgradability

The unique structure of the rental agreement permits you to upgrade the older equipment with more up to date equipment, without materially altering the client’s monthly rental.
(This depends on when you upgrade the client and we would be happy to discuss this with you in more detail)

Need more info?

Drop us a message and we'll call you back.