At E-Bikes Express, we want to give as many customers as possible the opportunity to reap the health, fitness, financial, and environmental rewards of buying an electric bike. That’s why we’re proud to have partnered with Payl8r.
Fully authorised and regulated by the Financial Conduct Authority (FCA), Payl8r allows you to finance the cost of goods over time on a schedule that makes sense to you.
Why Finance an Electric Bike?
Instant Benefit – Spread the Cost Over Time
Whether you’d like an e-bike for your commute, recreational purposes, or a bit of both, financing an electric bike will allow you to get started straight away without needing to save for a hefty upfront cost. Instead, you’ll immediately reap the rewards for your physical and mental health.
What’s more, financing an e-bike for commuting means you’ll instantly save on the costs of things like public transport, petrol, and parking. We also work with a range of Cycle to Work scheme partners to reduce the costs of electric bikes for employees – learn more about this here!
Easier Budgeting and More Electric Bike Options
As the saying goes – buy cheap, buy twice. At E-Bikes Express, we stock highly recommended, top quality electric bikes at a range of price points. But a great electric bike can cost anything from the £1,000 region to upwards of £5,000. Improve cashflow by spreading the cost of your e-bike over up to 12 months of regular payments.
Fancy a model with extra features (e.g., a long range, Shimano 7-speed gear shifter, or hydraulic disc brakes) to fit your lifestyle seamlessly, but unsure if this month’s budget can stretch? Financing an e-bike may open the door to more choice, so you can find an electric bike that ticks all your boxes and will last for many years to come.
Build Your Credit Score With Regular Repayments
When all payments are made on time, financing an e-bike could help you build good credit. Keep in mind that missed payments will likely have a negative impact, though. To get the most from Payl8r, don’t just borrow the highest amount possible. Be sure to carefully consider what monthly payments you can afford to stay on track with, even if your circumstances change.
5 Reasons We’ve Partnered With Payl8r to Offer E-bike Financing
There are a whole host of finance providers out there – here’s why we chose to partner with Payl8r:
- Detailed and fair affordability checks. Payl8r uses open banking, not just your credit file to assess affordability. This means you’ll be assessed not only on your credit history, but also on your current ability to repay the loan. If open banking checks deem you to have good financial health, financing could be an option even if you’re new to credit or your score has been damaged in the past.
- Quick and easy application. The online application takes about a minute to complete, and most customers receive an automated decision within 30 seconds of applying.
- Repayment reminders and autopay. Payl8r offers text and email payment reminders to help make sure you don’t miss a payment. You’ll be able to pay using your Payl8r portal, autopay, or over the phone – whichever suits you!
- 0% interest if you pay within 30 days. On standard Payl8r loans, you’ll pay 0% interest if you pay the full amount within 30 days. This is the case whether you choose a 0% interest plan from the outset, or select a longer plan with interest but pay it off fully within 30 days.
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Support if you’re struggling to pay. Life happens. Sometimes, circumstances beyond our control can affect our financial situation. Payl8r encourages open communication, and will work with you to find the best solution if you’re struggling.
What Requirements do you Need to Meet to use Payl8r?
If you fit the following criteria, you’ll meet the minimum requirements to be considered by Payl8r:
- You’re 18+
- You’re a UK resident
- You have online banking
- You have a regular source of income
Depending on your financial situation, you may be asked to complete a more detailed affordability assessment. To get an idea of what you might be able to finance, you can use Payl8r’s quick and easy eligibility checker.
To find out more about how Payl8r works and decide whether it’s right for you, you can visit their website here.
Find Your Ideal Electric Bike With E-bikes Express
Founded in 2024, E-Bikes Express has quickly gained a reputation as a leading electric bike retailer. Our customers appreciate our knowledge, integrity, and commitment to stocking only the best and most highly recommended e-bikes and brands on the market. Whether you’re looking for a mountain e-bike, commuting e-bike, or something different, our experts will match you with the right fit for your needs and budget.
Got questions about financing an e-bike, or need some support in pinpointing your next electric bike? Get in touch today!
*Subject to affordability assessments. E-Bikes Express Ltd is an Introducer Appointed Representative of Social Money LTD t/a Payl8r. Missed payments may affect your credit file, future borrowing and incur fees. Representative Example: If you borrow £200 over 12 months at a fixed monthly interest rate of 4% and an annual rate of 48% and representative annual percentage rate of 127.34% You will pay: Monthly payment: £24.66. Total amount you repay: £295.92 Total charge for credit: £95.92. 0% interest rate applies only where the loan is repaid in full within 30 days.
