Bicycle Loans: Here’s A Nifty Guide To Getting Moving

Arguably the most common type of bike, the road bicycle boasts a sleek build, slim tyres and dropped handlebars; these machines offer the perfect balance between speed and efficiency. If you are fortunate enough to live in a city with ample road and bikeway infrastructure, road bicycles provide an enjoyable, exercise packed and low-emission commute to work or wherever you’re headed. Now, we know what you’re thinking “Aren’t these bikes dangerous?”, well yes, but also no. As with everything, so long as you’re responsible, follow the road rules and use common sense, cycling can be one of the safest modes of vehicular transport.

Apart from being grouped with lycra-wearing middle-aged dads, there are few catches in getting a road bike. For one, road bicycles cannot be taken off-road. Their slim wheels and light frames cannot endure the rough terrain of off-road environments. So if you’re looking for an all-purpose bike, this option may not be the one. Along with this, they do not come cheap. A decent road bike will set you back anywhere between $500 to $11,000. Although, If we’re being realistic, this amount will likely fall between $500 and $1,500 if you’re a beginner.

Along with being the choice of trail riders and mountain bombers, mountain bicycles are perfect for those looking for a little thrill in their ride. With a sturdy frame, wider wheel-base and in-built suspension, mountain mikes are meant to be thrown around. Although designed for trail riding, you can think of the mountain bike as the ‘jack of all trades’. Feel free to take it just about anywhere; whether you’re hitting the road or shredding the trails.

Being significantly heavier than other options, mountain bikes should only be purchased if the main intention is to take it off-road. To hit this home, the price of a good mountain bicycle can be eye-watering. However, this can differ significantly depending on what you’re looking for. If you’re looking at simple trail riding, meaning not much impact, you could get away with getting an el-cheapo for $200 to $500. Although, if you’re looking at taking it seriously, the average cost of a good mountain bike falls between $2,000 to $3,000. Again, eye-watering.

Before you apply for your bike loan from Nifty, you should check that you meet our minimum eligibility criteria. Don’t stress, there are only a few basic criteria you need to meet! That’s because we like to keep things simple. Just make sure you:

• Are over 18 years of age
• Have received a regular income for the last three months
• Had your income paid into personal bank account accessible via internet-banking
• Have both an active mobile number and email address
• Are an Australian citizen or permanent resident

So, you meet the basic criteria? That’s Great! You can scroll on up and submit an application for your bicycle loan now!

So you might also be wondering, what if I have bad credit? Can I still be eligible to apply for a bike loan? Here at Nifty, we pride ourselves on being different. We take a fresh approach to lending. This means we can still look to approving a loan for you even if you have bad credit. How might you ask? Well, rather than base our assessment solely on your credit file like some lenders, we will also look at your recent bank statements and payment history. This enables us to look at your current relationship with money and get a full picture of your current financial situation. Nifty right!

Nifty is a lender that offers bad credit loans, however, as a responsible lender, we will still perform a credit check. But don’t worry! Your credit file is not the only thing we look at. We don’t think one credit default from years ago should necessarily block you from all credit! We will look at the whole picture before providing you with an outcome. So if you were looking for no credit check loans for your bicycle, Nifty might still be right for you!