Cycling brand distribution company Positive Sports Solutions announced an arrangement with financing company I-ME Solutions whereby their clients can qualify for loans of up to 24 months on new purchases.
Positive Sports Solutions spokesman David Pieterse said there was a strong demand among their customers for an arrangement of this nature as they continued on their mission of making the sport more affordable to South African consumers.
“When it comes to purchasing bicycles, not everybody can lay out all the money at once,” he said.
Positive Sports Solutions customers can benefit from an arrangement with I-ME Solutions, who offer bicycle finance for individuals. Picture: Supplied
“Through our contact with I-ME Solutions, we make it possible for any cyclist to access the finance to buy their dream bike.
“This benefits a customer as he or she is then not liable to pay the initial full cost, but can do so on a monthly basis.”
Freddie Fourie, co-owner of the Roodepoort-based financing company, said the demand for bicycle finance led to them widening the offer to individuals.
“The I-ME Gear product was initially focused on bicycle finance to businesses, with various advantages to the business owner.”
He said they then opened it up to individuals and now had a “very balanced split” between individual and business clients.
Fourie added that they used the same rates and processes for businesses and individuals.
“Both can either apply online or send us their documentation via email or the dealer.”
He said financing was available over 12 or 24 months and they covered complete bikes as well as wheel or groupset upgrades.
Fourie added that due to the development of bicycle technology there was a viable market for their products.
“The rate at which the sport is growing in all its different categories and the price tags of new bicycles means the model makes it possible to keep up with technology.
“Furthermore, it enables the cyclist to compete in more than one of the sport’s disciplines.”
There had been a positive response from the cycling public, said Fourie, with many clients financing more than one bicycle with them.
“We also have a very high upgrade ratio and that is a good indicator that the product works well for our clients.
“For example, around 86 per cent of our clients buy new bikes at the end of the term.”
Positive Sports Solutions have sole distributorship agreements in SA for several premium international brands. These include HEAD bikes from Europe, Gipiemme wheels from Italy, Westfalia racks from Germany and Controltech components from the United States.
