The Chainlink

Financing for bikes

Since I'm in the unfortunate position of being in the market for a new bike, I was looking at some of my options.  One of my posibilities is the Trek 520, which is on sale at Village Cycle Center.  I was looking at their site and noticed that they noted a financing plan.  Normally, I don't finance anything and try to pay my credit card in full each month.  Since I'd like to get back in a good saddle as soon as possible and since this offers no interest for a year, I'm somewhat tempted.

 

Has anyone else done this?  Any hidden catches? Any other thoughts on this? Anyone have a 520 they want to sell cheap?

 

 

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Permalink Reply by Liz on August 31, 2010 at 10:37am
i was surprised to read your bike was a 50 cm, since you're taller than I am and that would be size I would get. I got my fisher at village cycle. It came with 2 free anual tune ups and a 1 month adjustment. They took a lot of time with me, in fact I went in twice and they spent over an hour both times swapping stems trying different sizes/bikes, etc to get my fit exactly where it was comfortable. The first guy I talked to there, didn't really know anything, so I asked if there was someone who could answer more questions and he got someone who knew what was up. If I had not actually known what to ask for I don't think I would've proper help, but if you ask the right questions you will get someone who can answer them. I wouldn't really shop there often, but I was satified with the bike purchase and with the shop for my tune ups, especially since the price I paid was well under retail elsewhere.

jamimaria said:
Well, it looks like On the Route Cycles also carries Trek, so I'll definitely take a look at them as well. I stopped in the Village Cycle Center last night and tried otu the 520 on the trainer and wasn't too impressed with the service, so I was a little wary of buying there anyway.

I'm also going to try out some other bikes as well. I'd go with the same bike as I had before, but after riding it a lot, I had noticed some issues with the sizing, so I'm definitely interested in shopping around some more.

I've certainly thought about purchasing from bikes direct. I'm more interested in the Windsor Touring and I've read some CGOAB journals of people who have ridden cross country on them. I'd prefer steel to aluminum, so that motobecane isn't really my top choice.
Permalink Reply by A.K.A Paul on August 31, 2010 at 10:43am
The Crazyguyonabike.org website has a classified section that I've seen some bike for sale.
Permalink Reply by A.K.A Paul on August 31, 2010 at 10:51am
Rapid transit had a sale on Jamis Auroras a little while ago. Not sure if its still going on but it doesn't hurt to ask if they'd give you the sale price once you explain the situation.
Permalink Reply by Liz on August 31, 2010 at 10:58am
After months of keeping an eye out for a good touring bike last fall (between CL and some shops) I found my Voyaguer. The standover is high, but the top tube is perfect. Though there are many upgrades I keep debating making to it (bar end shifts, change out the crank arms to 165s, nicer seat) but don't because I use it as my commuter and am afraid of it getting stolen and having to start over from scratch.

It took me like a 2-3 months of having a steel touring bike in mind before I found it. Since I have multiple bikes it wasn't as critical to get a bike imediately I had a mountain bike with skinnies as a commuter at the time. While there are good used touring bikes to be found, it was a highly time intensive process. So in your situation with insurance and it being your main transportation a new bike would probably be the way to go.

jamimaria said:
Where are you finding nice used touring bikes? I haven't seen any in some time...

Fortunately, I did have renters insurance which should cover some of the replacement cost, so I'm kind of thinking about going for a new bike, but if I were too see a used bike that was good, I'd definitely go for it.

Cameron Puetz said:
I had pretty good luck with On the Route Cycles when I lived in that neighborhood. I didn't make any major purchases, but when I was in there for little stuff it seemed like a good shop. Also in the world of steel framed touring bikes there are a lot of nice used ones out there.

jamimaria said:
Well, it looks like On the Route Cycles also carries Trek, so I'll definitely take a look at them as well. I stopped in the Village Cycle Center last night and tried otu the 520 on the trainer and wasn't too impressed with the service, so I was a little wary of buying there anyway.

I'm also going to try out some other bikes as well. I'd go with the same bike as I had before, but after riding it a lot, I had noticed some issues with the sizing, so I'm definitely interested in shopping around some more.

I've certainly thought about purchasing from bikes direct. I'm more interested in the Windsor Touring and I've read some CGOAB journals of people who have ridden cross country on them. I'd prefer steel to aluminum, so that motobecane isn't really my top choice.
Permalink Reply by Pablo on August 31, 2010 at 11:08am
Just be careful. Financing companies offering 0% make money somehow. Some unscrupulous ones will hold your check and not cash it until after the due date to generate late fees. My opinion is pay cash.
Permalink Reply by Joel on August 31, 2010 at 11:11am
You might also check out a Salsa Vaya. It is a decent steel frame with disc brakes for a fair price. You would want to swap out the double chainring/shifter for a triple if you are actually touring. It uses 26" wheels for the smaller frame sizes, just like the Surly LHT.
Permalink Reply by BalloonBiker on August 31, 2010 at 11:18am
I'll check them out again. I know the owners, so that's a definite maybe. I'm just not sure if I want to go with an Aurora again since I kind of had issues with sizing. I talked with the insurance adjuster today and it sounds like my claim should go through today.

To everyone, if you can, make sure that you get renters or homeowners insurance. I know that I would be pretty devastated without it.


Not Nathan Fillion (aka Paul) said:
Rapid transit had a sale on Jamis Auroras a little while ago. Not sure if its still going on but it doesn't hurt to ask if they'd give you the sale price once you explain the situation.
Permalink Reply by Digital Dario on August 31, 2010 at 11:22am
My understanding of that type of insurance is that it only covers if your bike is stolen from your home/apt, is this correct?

jamimaria said:

To everyone, if you can, make sure that you get renters or homeowners insurance. I know that I would be pretty devastated without it.

Permalink Reply by Kevin C Dormant on August 31, 2010 at 11:48am
Homeowner's and renters' policies should typically be reserved for disaster insurance; e.g. the meth lab in the basement blows up and the entire contents of your home are lost, kinds of things. Insurance companies are in the business of collecting premiums and investing that premium income to expand their balance sheets. Paying out claims is bad for their business model. People who make claims against their policy get a bad "claims history," and are subject to higher rates and/or cancellation. If you have the kind of relationship with your agent which permits you to make a discreet inquiry, please do so before making the claim.

Ruben Dario said:
My understanding of that type of insurance is that it only covers if your bike is stolen from your home/apt, is this correct?

jamimaria said:

To everyone, if you can, make sure that you get renters or homeowners insurance. I know that I would be pretty devastated without it.

Permalink Reply by heather s on August 31, 2010 at 12:05pm
I have seen some nice older touring bikes, like 80's-era Voyageurs and Marathons, on CL from time to time. I bought my Miyata LT1000 on eBay a couple years ago - I prefer eBay over Craigslist for expensive purchases, because there's an accountability system in place.

But I would agree with other folks who've said that if you need to replace it now, you should buy one new, because you could end up waiting around for a while until a used bike that you like and that fits you properly shows up on the used market.


jamimaria said:
Where are you finding nice used touring bikes? I haven't seen any in some time...

Fortunately, I did have renters insurance which should cover some of the replacement cost, so I'm kind of thinking about going for a new bike, but if I were too see a used bike that was good, I'd definitely go for it.

Permalink Reply by h' Zerocats on August 31, 2010 at 12:16pm
Partially agree.
If I had renter's insurance I would keep a low deductible and claim a stolen bike.
Not the end of the world if your rate goes up (or if you;re cancelled.)
In regard to homeowner insurance-- I've heard (from insurance folks) that "2 claims you're dropped" is standard post 9/11, so I keep a high deductible and wouldn't think of using it for anything short of my meth lab blowing up. Homeowner's insurance is a requirement of mortgagers, renter's is not.

Kevin Conway said:
Homeowner's and renters' policies should typically be reserved for disaster insurance; e.g. the meth lab in the basement blows up and the entire contents of your home are lost, kinds of things. Insurance companies are in the business of collecting premiums and investing that premium income to expand their balance sheets. Paying out claims is bad for their business model. People who make claims against their policy get a bad "claims history," and are subject to higher rates and/or cancellation. If you have the kind of relationship with your agent which permits you to make a discreet inquiry, please do so before making the claim.

Ruben Dario said:
My understanding of that type of insurance is that it only covers if your bike is stolen from your home/apt, is this correct?

jamimaria said:

To everyone, if you can, make sure that you get renters or homeowners insurance. I know that I would be pretty devastated without it.

Permalink Reply by BalloonBiker on August 31, 2010 at 12:19pm
I figure that it makes sense. My rate will go up, but it isn't that much to begin with...and as long as I don't make another claim in the next 3 years, it will go back to what it was. I suppose that home owners insurance is quite a different story.

H3N3 said:
Partially agree.
If I had renter's insurance I would keep a low deductible and claim a stolen bike.
Not the end of the world if your rate goes up (or if you;re cancelled.)
In regard to homeowner insurance-- I've heard (from insurance folks) that "2 claims you're dropped" is standard post 9/11, so I keep a high deductible and wouldn't think of using it for anything short of my meth lab blowing up. Homeowner's insurance is a requirement of mortgagers, renter's is not.

Kevin Conway said:
Homeowner's and renters' policies should typically be reserved for disaster insurance; e.g. the meth lab in the basement blows up and the entire contents of your home are lost, kinds of things. Insurance companies are in the business of collecting premiums and investing that premium income to expand their balance sheets. Paying out claims is bad for their business model. People who make claims against their policy get a bad "claims history," and are subject to higher rates and/or cancellation. If you have the kind of relationship with your agent which permits you to make a discreet inquiry, please do so before making the claim.

Ruben Dario said:
My understanding of that type of insurance is that it only covers if your bike is stolen from your home/apt, is this correct?

jamimaria said:

To everyone, if you can, make sure that you get renters or homeowners insurance. I know that I would be pretty devastated without it.

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