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 907


9 Jul 2025

A recent BBC Breakfast segment has sparked backlash from the cycling community over its portrayal of e-bikes, with critics accusing the broadcaster of conflating legal e-bikes with illegal,...

8 Jul 2025

More than 30 locations across Scotland have seen a major rise in the number of people cycling, according to newly released data.

7 Jul 2025

Sixteen illegally upgraded e-bikes capable of speeds up to 40mph have been seized and disposed of in a joint enforcement operation in Birmingham city centre.

7 Jul 2025

Bristol-based Cytech training provider and ACT member Life Cycle has launched its award-winning Bikes Beyond Bars programme at HMP Bullingdon, expanding a project that has already impacted lives...

4 Jul 2025

New data from Strava reveals a major surge in cycling across the UK, with Gen Z and Millennials leading the charge.

3 Jul 2025

Shimano has launched an urgent investigation into what it describes as a “critical” shortage of skilled bike mechanics across Europe, warning that the situation threatens to...

2 Jul 2025

MPs have called on Amazon and eBay to tighten controls after e-bikes and chargers flagged as serious fire risks were found for sale on their platforms.

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.
 

Back to news menu

New Halfords finance scheme lessens customer experience

Posted on in Business News , Cycles News

Halfords have recently changed finance provider resulting in, what many might consider, undesirable implications for UK consumers. The majority of interest free options have been dropped, penalties for missed payments have been introduced and customers need to have their own web enabled device in order to complete a transaction.

Halfords customers looking to spread the cost of purchases for a period exceeding 12 months will no longer be offered interest free credit, instead customers will only be given the option of an 18.9% APR loan.

The Halfords website also makes it clear that any customer who takes out an interest free loan over twelve months will be penalised if they miss or don't make a payment in full, as stated under "The Small Print" section on the Halfords website:

"If you miss or do not make a full payment, the interest free arrangement will cease and you'll be required to pay interest on all future repayments at 18.9% APR (representative, variable)."

It would also appear that since changing to a different finance provider Halfords customers can no longer simply apply for finance in store, unless they use their own device:

"...you'll need to have a web enabled device with you at point of purchase. Alternatively, a store colleague can email you the link to complete the process at home."

Not the seamless experience today's tech-savvy customers expect.

Ride it away

The ACT work in partnership with V12 Retail Finance to bring Ride it away to the cycle sector, which is on course to contribute £120 million pounds in finance sales for the cycle sector this year.

The highest APR Ride it away customers can be charged is 15.9%, in comparison to the highest APR of 18.9% that is offered to Halfords customers. Ride it away also provides flexibility with 0%, 4.9%, 9.9% and 15.9% options available over terms up to 48 months, enabling retailers to offer the most suitable option for both them and their customers.
Via the Ride it away scheme customers will never get switched to a higher APR.

Lastly, through V12's leading POS system a customer doesn't have to use their own phone to complete a finance transaction in store!

Find out more

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

It may also be worth having a recap on the ‘Avoid the pitfalls' mini-series the ACT published in April 2019 which answered the trade's questions about selecting the most suitable retail finance provider. Key topics examined were why low rates can equal lost sales, the importance of checking the finer details of your agreement and why you should identify who actually lends the money when selecting your provider.

Choosing a finance provider, avoid the pitfalls #1
Choosing a finance provider, avoid the pitfalls #2
Choosing a finance provider, avoid the pitfalls #3


C 2 Zero Limited t/a ActSmart & Ride it away is authorised and regulated by the Financial Conduct Authority 657829.

 

Back to news menu

Useful links

If you have any other queries please contact us.