When you really want the e-bike but is a bit short on the cash flow, finance for your bike is available.
We teamed up with the Renewed Group that specializing in this type of financing.
Advantages of doing it the RENEWED way:
• Total flexibility concerning upgrade by addition or replacement.
• Rentals can be tailored to fit in with your budget.
• Rentals are viewed as an operating cost – thus off-balance sheet financing.
• 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 technology.
• Gives you the flexibility you need.
• Offers you the most convenience with the least complications.
• Enables you to replace equipment when maintenance costs become excessive.
1. Client choose the bicycle and accessories from the dealer.
2. Dealer issues a quotation
3. Client completes and signs the RENEWED Application from (example attached) and sends it through to Renewed Group together with the
quotation and the required supporting documentation. Applications can also be done online @ www.renewedgroup.com/apply-now
4. Renewed Group issues an approval and sends it to the client to sign online and dealer is kept in the loop of where we are in the process
5. Clients signs the approval online
6. Renewed Group Requests an invoice from the dealer (invoice example attached)
7. Renewed Group draws up the contact and supporting documentation for the client to sign.
8. The client signs the contract online thus no paperwork for the dealer
9. Credit department makes a final call to the client verifying the details of the contract
10. The first debit order gets loaded to the clients account
11. We request the Insurance from the client and a Tax invoice and components form from dealer
How much will the Required Deposit be?
12 months- 15% deposit
24 months- 15% deposit
36 months- 20% deposit
How to Calculate the Premiums for the Price Tag?
1. Take the selling price of the bicycle (including Vat) and add the selling prices of all the accessories.
2. Minus the Required Deposit
3. Take the Total of the above and multiply it with the factor below
4. Complete the price tag.
Period Required Deposit Factor
12 Months 15% 0.08948
24 Months 15% 0.05010
36 Months 20% 0.03708
Bicycle: R 38 000-00 (Incl. Vat)
GPS: R 6320-00 (Incl. Vat)
Pedals: R 972-00 (Incl. Vat)
Total: R 45 292-00 (Incl. Vat)
12 Months: R 45 292.00 – 15% deposit (R6 795.00) = R 38 497.00 X 0.08948= R3 444.71 Excl. VAT
24 Months: R 45 292.00 – 15% deposit (R6 795.00) = R 38 497.00 X 0.05010 = R1 928.70 Excl. VAT
36 Months: R 45 292.00 – 20% deposit (R9 060.00) = R 36 232.00 X 0.03708 = R1 343.48 Excl. VAT
So go ahead: Go to their website and get your finance: