Canyon, maker of some of our favourite reasonably priced bikes, has announced that its entire range is now available on 0 per cent finance with free shipping.
Canyon’s new scheme is offered in partnership with finance company Splitit, and it works slightly differently to a conventional hire purchase agreement.
Under the scheme, Splitit authorises the full price of the bike against your chosen payment card, but takes the actual money in instalments. Buyers can choose to spread the cost between two and six equal monthly payments.
No interest is charged and there’s no price limit, so you can use Splitit to buy any of Canyon’s bikes.
However, according to Canyon, you won’t be able to exceed the funds available on your payment card, meaning that it isn’t quite the ‘free money’ bonanza it might sound like at first glance.
If you’re paying with a credit card, you’ll be able to buy any bike up to your credit limit this way. With a debit card, the full funds would need to be available, perhaps making it a less appealing option. Either way, the authorisation amount drops as each instalment is paid off.
Splitit is available as an option right now more or less worldwide, and in the EU (plus Switzerland, Norway, and the UK but excluding Malta and Cyprus) bikes bought between now and 30 April will also get free shipping (Canyon usually charges for it).
Are you shopping for a bike in these strange and troubling times? Let us know what’s tempting you in the comments below.