Rockets & Rascals have partnered with Ideal 4 Finance to offer consumer finance options for customers.
Is it 0% Finance?
No, a common misconception with 0% finance is that it's a better option for the consumer however the costs for 0% are simply hidden in the purchase price. Usually this stops us offering finance on sale bikes, giving you loyalty against the sale or some custom bikes. Similarly, to offer our customers 0% finance their credit score needs to be extremely high. Many of the applications we made for 0% finance were rejected on these grounds and this is common for other bike stores.
Our new finance is not free, however for clients with a perfect credit score rates can typically be around 4.9%, the worst credit scores will attract a rate up around 20% but NO application will be rejected. The only exception to this are bankrupt or individuals in IVA's (as it is illegal to lend money to these individuals).
Typically customers can save 10% on a sale bike (or more) and then pay only 4.9% for finance, this represents a better than 0% finance offer. It's also a clear and simple finance and avoids the need to take out credit cards or bank loans with hidden charges.
One additional bonus is that our finance can be spread over more flexible terms, something that is very difficult with 0% at other stores. We, in asociation with Ideal 4 Finance, can offer terms up to 5 years and lending up to £25,000.
How does the process work?
1. We will produce a quote for your bike plus any accessories to give you a clear final value
2. You will make an application online direct with Ideal 4 finance, you can do this here or at home. You will have a decision in principle within 45-60 seconds. If you're happy with this we'll need a minimum 10% deposit to secure your bike.
3. The money will be sent direct to you within 5 days and then you will need to come in, pay the balance of your bike in full and ride away!
1. Who is my agreement with?
The agreement is direct between you and Ideal 4 Finance, we only look after the bike elements of the deal. Speak to them ref finance, speak to us about bikes.
2. What will the interest rate be?
The interest rate will be broken down clearly at the time of application and you will be asked clearly if you are happy with the application.
3. Is there another way to apply?
Yes, an application can be made by phone from Mon-Fri from 0900-1800.
4. Is there a minimum or maximum value?
We can finance anything above £500 up to a maximum of £25,000.
5. Can I make a finance application in store?
Yes of course, we have a computer and quiet place where you can enter your details and make a quick finance application. It only takes a few minutes.
6. Will I be rejected due to my credit score?
No, Ideal 4 Finance use 24 different lenders to locate you finance, you'll be given a choice of lender at the time of application. This is far more favourable than V12 finance offered by the bulk of the cycle trade that only offer one lender.
7. Can I make an application online?
Yes you can, follow the link below and be sure to put our shop name 'Rockets & Rascals' in the supplier code box.