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to 'lease' a kids bike

(21 Posts)
MaryBerrysSoggyBottBott Tue 15-Nov-16 14:02:26

Both DCs want a bike for Christmas. They are both in the 9-11 age range so I'm looking at about £100-200 a bike which is a bit shock

I've just stumbled upon a thing called 'bike club', a pay-as-you go scheme, with option to buy the bike after 24 months (for RRP of around £400 minus your payments, so you pay about £30-50 to buy it). They can also exchange the bike as the child grows out of it. Price averaging about £20 per month for 2 bikes. I quite like this idea but can't work out if I'm missing something, is this a silly idea or not?

SheSparkles Tue 15-Nov-16 14:05:34

Why not buy a decent one second hand? You'll get a very decent Second hand one for £60-£80
You're initially saying that you're looking at £100-£200 per bike, but the bike club ones will cost £400.

BorpBorpBorp Tue 15-Nov-16 14:05:56

What happens if they break the bike? Do you have to pay?

BikeRunSki Tue 15-Nov-16 14:06:11

Is this the Islabikes scheme?

DefinitelyNotAJourno Tue 15-Nov-16 14:06:47

It sounds like a very expensive loan and you'd be better off sticking it on a credit card instead, assuming the £400 RRP is per bike - after all, you don't want a £400 RRP bike, you wanted a £100ish RRP bike!

Wookiecookies Tue 15-Nov-16 14:07:02

Yes... its a bad idea because you will most likely pay way more than the bikes are worth and your kids will grow out of them well before you finish paying for them.
Have you looked for 2nd hand bikes? There are some great ones out there.

DefinitelyNotAJourno Tue 15-Nov-16 14:08:26

Incidentally, all THREE of mine have decided they wanted bikes for Christmas - I've got all three off Facebook Marketplace, and have paid £10, £20 and £70 for bikes in excellent condition.

Yes, second hand - but wrapped up they'll be delighted, and it means I can spend money on things they'll want to play with more at Christmas time (what with it often being cold and slippery, and generally not a great time for cycling)

Wookiecookies Tue 15-Nov-16 14:08:35

If this is islabikes as an above poster suggested, it may be ok, as they sell very well second hand as they are excellent bikes. So you might get a reasonable amount back. Double check the small print and do your sums though!

toastytoastbear Tue 15-Nov-16 14:09:58

Surely the catch is that you'd be paying £400 for something you wanted to spend £200 max on

BarbaraofSeville Tue 15-Nov-16 14:13:06

You'd probably do a lot better spending £200 on a second hand Isla bike than a new bike from a supermarket/Argos or Toys R Us.

Isla bikes say they sell ex lease bikes on their website and they come serviced etc - that's probably a good way to get a pre-owned one - or what about ebay?

MaryBerrysSoggyBottBott Tue 15-Nov-16 14:14:13

Its not Islabikes, yes you are right, I don't think they need a £400 bike! but quite liked the idea of spreading the cost over monthly payments, with option to return. However as PP have suggested I think second-hand might be the way to go. Secondhand is fine isn't it?

DefinitelyNotAJourno Tue 15-Nov-16 14:20:11

The thing is to see them and check them out. I was only prepared to buy bikes that looked as good as new.

MaryBerrysSoggyBottBott Tue 15-Nov-16 14:22:49

Thanks notajourno. How do you use FB Marketplace?

AllTheShoes Tue 15-Nov-16 14:24:47

Or get a good brand on eBay and recoup when you sell it - I worked out I spent about £3 per year of use (plus the odd service / part) for the Islabike I just sold.

Sonders Tue 15-Nov-16 14:31:54

I agree with PPs about second hand bikes. It's be a good idea to take them into a bike shop for a service and a clean before Christmas though - a few places round here to spray paint pretty cheap too so you could get custom colours!

museumum Tue 15-Nov-16 14:40:16

Actually I just looked at one example in the 9-10 age range and it's £300 and if you buy after 24mo works out at 0% interest. But after two years a 9yr old will probably be on the next size up and they'll swap it for a next size one.
I'd check out the insurance T&C first but i honestly can't be doing with second hand buying and selling as most folk don't maintain bikes well and these will be fully serviced between users.

MaryBerrysSoggyBottBott Tue 15-Nov-16 16:42:16

So do you think its worth doing museumum?
sonders don't know where you are but I've just seen a quote for £80-90 for a respray shock
Found a couple of 'refurbished' ones from a company on ebay who service used bikes, they look pretty new from pictures and are really reasonably priced. Think I'll go for these.

museumum Tue 15-Nov-16 16:48:31

Yes. I think if you want an rrp £300 bike then the lease is worth it.
But you can get much cheaper bikes. Depends what they're using them for and how much they'll be ridden.

BikeRunSki Tue 15-Nov-16 16:56:37

A lot of local bike shops sell second hand bikes. I mean little independents run by cyclists, not Halfords/Evans etc. There are still a few independents about!

Islabikes are the Rolls Royce of kids' bikes and I'd far rather a preloved one of them, that new but poorer quality.

Frog are also very good, slightly heavier in the smaller sizes.

Decathlon bikes are superb value for money, but a bit heavier and after sales support is not up to much, but they are the only warehouse type shop I'd consider buying a bike from.

There are dedicated Isla and Frog Preowned selling pages on FB, but they do hold their value incredibly well. This can cut both ways!

HughLauriesStubble Tue 15-Nov-16 17:45:06

I always see people coming up to Christmas on facebook selling bikes that look like theyve only been used a handful of times. Are you sure your dc will use a £400 bike enough to get the value out of it? And wouldn't you be constantly worrying that they'll damage or break them when they're worth that much?

MaryBerrysSoggyBottBott Tue 15-Nov-16 18:04:00

Well I've just bought the two reconditioned/serviced ones, for the princely sum of £77 for both. They are even delivering them to me free of charge! Very happy. Glad I didn't do the lease thing, I think I'd have regretted it. This way its nice to know they actually own them. Thanks for helping me with this everyone!

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