FAQs

Frequently Asked Questions

 
 
 

Who can Finance a bike through Renewed Gear Bicycle Finance?

Any business or business owner, as well as, any individual over 18 years with employment of at least 24 months.

From which bike shop can I buy my bike financed by Renewed Gear?

Renewed Gear has a lot of approved dealers on the books where we know you will get the best service, BUT we will finance your bike from any OEM dealer.

Can I finance a second hand bike?

We do finance second hand bicycles from selected dealers only.

Do I have to pay a deposit?

Yes,

12 Months – 15%

24 Months – 15%

36 Months – 20%

Over what term can I finance my bike through Renewed Gear?

Over 12, 24 months or 36 months

Does my premium stay the same for the term or are there any escalations?

There are no escalations and your premium stays the same for the duration of the contract.

Is there any additional costs?

There is only a once off contract fee of R750 ex VAT

How does ownership work?

Ownership does not transfer automatically, but client can have ownership at the end of term.

How long does the process take?

We will give you an formal answer in writing within 6 business hours.

Can I choose to settle early?

Yes, we do allow for early settlement. However most of our clients choose to upgrade their equipment.

Can I work out how much I will pay?

Yes, use the calculator on our website if you want an idea of what your monthly premiums will be.

What exactly can I finance through Renewed Gear?

You can finance any bicycle and/or serialized accessory like wheels & group sets.

How do I apply?

Three ways:

  1. Download the application and send it back to us, along with all your supporting documents
  2. Apply on our user-friendly online application form
  3. Contract one of our friendly consultants and they will walk you through the process