I'm wondering if anyone has suggestions or advice on financing the purchase of an E-Bike.
By my way of thinking, an E-Bike can be a viable substitute for owning a car - especially in cities with car-sharing programs such as Zipcar. To me, that's a very appealing combination - use a bike or e-bike for the daily commute and getting around town, and use a car when you have a specific need for one, such as moving large items, going on a ski trip to the mountains, etc.
I have a pretty good financing deal on my current car - I'm paying 4.74% through my employer's credit union. Just a couple days ago I learned about the Optibike, built and sold just up the road from me in Boulder, CO. Their 800 Watt models approach $10,000 but if I compare that to owning a car, it doesn't seem like such a bad deal - except for the financing. My credit union's car loans - and those of most other banks apparently - requires things like a VIN # and vehicle title, which are not part of the e-bike package.
None of the financial institutions I contacted offered a better deal than their standard personal loan, with a rate much worse than their vehicle loan rates. Has anybody else dealt with this issue? If so, any suggestions or advice? I'm strongly considering making a switch, but I don't want to be ripped off on the financing. That would likely kill the deal for me.
By my way of thinking, an E-Bike can be a viable substitute for owning a car - especially in cities with car-sharing programs such as Zipcar. To me, that's a very appealing combination - use a bike or e-bike for the daily commute and getting around town, and use a car when you have a specific need for one, such as moving large items, going on a ski trip to the mountains, etc.
I have a pretty good financing deal on my current car - I'm paying 4.74% through my employer's credit union. Just a couple days ago I learned about the Optibike, built and sold just up the road from me in Boulder, CO. Their 800 Watt models approach $10,000 but if I compare that to owning a car, it doesn't seem like such a bad deal - except for the financing. My credit union's car loans - and those of most other banks apparently - requires things like a VIN # and vehicle title, which are not part of the e-bike package.
None of the financial institutions I contacted offered a better deal than their standard personal loan, with a rate much worse than their vehicle loan rates. Has anybody else dealt with this issue? If so, any suggestions or advice? I'm strongly considering making a switch, but I don't want to be ripped off on the financing. That would likely kill the deal for me.