Renewed Gear Bicycle Finance developed a finance product specifically for the enthusiastic cyclist to stay relevant and on top of the rapidly advancing sport of cycling. An added benefit is that an upgrade at any time is possible. We will show you how cost of ownership can beat the purchase price.
What Can Be Financed?
- New bicycle frame from manufactured approved dealer (indicating serial number)
- All accessories (e.g. GPS and navigation)
Who Can Be Financed?
- Any Business
- Ltd Company
- Private Company
- Closed Corporation
- Sole Proprietor
- Any individual:
- Older than 18 years
- Full time employed for longer than 24 months
How do they work?
They finance according to an operational rental model which has various advantages:
- Due to the operational rental approach, VAT can be claimed on the premium in terms of such costing. (for business clients that is VAT registered).
- As is the case with golf green fees, your riding expenses (instalment/premium/insurance), when in the company of your clients, could be fully deductible from your taxable income (for business clients).
- Since the rental agreement is off the balance sheet, it does not affect the gearing of the company
- They finance bicycles over a period of either 12, 24 & 36
Advantages of doing it the RENEWED way
- Total flexibility concerning upgrade by addition or
- Rentals can be tailored to fit in with your
- Rentals are viewed as an operating cost – thus off-balance sheet
- The total premium could be fully deductible from your taxable income (for business clients).
- Results in the lowest after-tax cost to you (for business clients).
- Enables you to keep up to date with the newest
- Gives you the flexibility you
- Offers you the most convenience with the least
- Enables you to replace equipment when maintenance costs become excessive