Buying a bike – what’s my budget?

One of the biggest questions for many people when buying a bike relates to how much they should spend and what will they get for their money.

First of all its important to understand what type of bike you want, as choosing the right bike is just as important as how much you spend.

Once you know what you want always try and spend as much as you can afford, as you really will get what you pay for.

Remember – with Ride it away finance you could afford much more than you think…for example, if you choose a bike that’s on offer at 0% APR:

RIABicycle Cash Price = £1000

You pay initial deposit of £100

Representative APR = 0%.

Total Amount of Credit remaining= £900.

Duration of Agreement: 12 months.

Monthly Repayment Amount = £75

Total Amount Payable £1000.

What can I get for my budget?

Generally we don’t recommend spending less than £250.

This is because your bike will be of particularly poor quality in terms of parts and components and as such will require regular maintenance which ultimately will end up costing you as much if not more, than the price you paid for your bike. The more you use your bike the more you should invest in it.

Below is a quick guide to pricing guidelines for adult bikes.

Under £200

Bikes at this price level will likely be heavy, rust-prone and require constant maintenance if you want a pleasurable ride. If that’s all you’ve got to spend then keep it simple – cheap extras (suspension, fancy disc brakes etc.) will only ensure that the quality of the basic components is compromised to achieve the low price.

£200 to £350

For this price range, you can get some great recreation bikes, some comfortable commuters but only very basic, entry-level road and mountain bikes. Keeping it simple is still a good idea – any extras will only compromise the quality of the basic components.

£350 to £600

Commuters and recreation bikes in this price range will be good quality, reliable and fast. Mountain bikes will still be basic but usually strong enough to bash about on rough trails. Road bikes will still be on the entry-level side.

£600 to £1000

Expect to pay in this range for top-of-the-range commuters, reliable hardtail mountain bikes and entry-level full suspension mountain bikes. Some road bikes at this level will be light and fast.

Over £1000

All bikes over £1000 should be light, fast and come with good quality components.

If you are looking to buy a high end, quality bicycle, the Ride it away finance scheme is perfect – you can get a much better quality bike than you thought possible on your budget!