This is a trade facing website. Visit the ACT's consumer site thecyclingexperts.co.uk for information and advice on cycling and find your local independent cycle retailer.

Search News

Results: 1-10 of 900


25 Jun 2025

The E-Bike Positive campaign has seen major success in the first half of 2025, with its message reaching nearly 8 million people across the UK through high-profile media coverage and growing...

20 Jun 2025

The House of Commons Business and Trade Committee has asked the ACT, and its parent company Bira, to help them reach out to small business retailers across the country, for their quick input on...

20 Jun 2025

Activate Cycle Academy has reopened its Cytech training facility in Darlington, offering a full range of courses from Home Mechanic up to Cytech Technical Three.
 

18 Jun 2025

The Association of Cycle Traders believes the time has come for greater accountability throughout our supply chain, writes ACT Director Jonathan Harrison in an article published for BikeBiz.

16 Jun 2025

The ACT has welcomed the All-Party Parliamentary Group for Cycling and Walking's report "Unregulated and Unsafe: The Threat of Illegal E-Bikes", which calls for urgent Government action to...

11 Jun 2025

A new academic study has found that overzealous pro-cycling campaigners on social media may be inadvertently damaging the case for better cycling infrastructure across the UK.

11 Jun 2025

Bira has welcomed the Welsh Government's consultation on business rate reforms for retail shops, whilst calling for significant improvements to ensure the proposals truly support high street...

10 Jun 2025

Bike thefts across England and Wales have continued their steady decline, according to new data released by cycle insurance specialist Bikmo.

9 Jun 2025

Retailers on Britain's high streets are being encouraged to put themselves forward for the first-ever Love Your High Street Awards, designed to celebrate the small businesses that bring...

9 Jun 2025

 To coincide with Bike Week (9-15 June) – the UK’s annual celebration of cycling – new research has revealed a clear shift amongst Gen Z and Millennials in their approach...

Back to news menu

Choosing a finance provider, avoid the pitfalls #1

Posted on in Business News , Cycles News

Ride it away

Following an increase of incoming calls querying finance providers in the cycles market, the ACT are publishing a mini-series to answer the trade's questions.

We know that more customers are spending using retail finance as the latest figures from the Finance and Leasing Association (FLA) identify that UK consumers now spend nearly £800 million every month on goods and services using retail credit.

The cycle retail finance landscape is currently experiencing many changes; providers consolidating, a lack of funds meaning providers have had to close and providers withdrawing from the market. Some of these scenarios have left cycle businesses high and dry.

This series examines which options are best for your business and how to avoid potential pitfalls.

The importance of market knowledge

As the cycles finance marketplace is growing every year, now worth over £100m p.a., more and more providers turn their eyes towards it. This in turn brings finance products which are aligned closer to white goods and other products as opposed to bicycles and related accessories.

These providers tend to spare little thought for the end customer or the product that customer is buying.

Ensure your provider has experience in the cycles marketplace so that their finance solutions are tailored specifically for the IBD.

The ACT work in partnership with V12 Retail Finance to provide that all-important market knowledge and to ensure their finance products are just the right fit for the cycle trade - under the consumer-facing brand Ride it away.

A little bit of love for the bicycle trade

Take a look at all of the finance providers in the cycle marketplace and see if they are really invested in it.

Does your current provider adjust their standard requirements to enable IBDs to access finance? Most providers do not deal with smaller independents as their turnover is too low. V12 have always, and will always support IBDs.

V12 are clearly passionate about cycling, just take a look at the V12 sportive coming up in August or their continual support for the Cycle Show.

Looking after your customer

Remember you introduce your customers to a finance provider, if they get it wrong this reflects on your business and your ability to benefit from any recurring purchases.

Ensure your customers will get the best customer service experience they deserve.

V12 have just been awarded the Feefo Gold Trusted Service Award for providing superb customer service and best possible experience for all their customers.

Feefo gold
 

Part 2 in the series coming soon!

If you have any queries about the Ride it away scheme you can find out more here or call the ACT on 01273 427 700.

V12 are the leading provider of finance in the cycles sector, are the number one provider of online POS retail finance in the UK* and are widely accepted as having the ‘best' online integration solution; even by their competitors!

*based on finance and on 4 continuous quarters from FLA

 

Back to news menu

Useful links

If you have any other queries please contact us.