e-Bike Finance

e-Bike Barn offer finance options that allow eligible customers to buy an e-bike and accessories, and spread the cost of the purchase over an extended period of time.

Who is our Finance Partner?

Finance is provided by Mitsubishi HC Capital UK PLC, trading as Novuna Personal Finance, with e-Bike Barn acting as your credit introducer. Novuna Personal Finance is one of the UK’s leading financial services companies with millions of customers across the UK and reputation for providing innovative finance solutions that help consumers and businesses realise their ambitions.

How to apply for Finance

Finance is available for both in-store and online customers. Once we have helped you finalise your bike choice and accessories and created an order, the application can be completed on your own device through a link we will send you.

  • In store, the deposit payment will be taken by card in the regular manner,
  • Online deposits are made using a secure card payment link we will send you.

To start the application process contact us on info@surgebikes.co.uk / 01256 648510  

What Finance is available?

  • We offer 0% APR finance over 12/18/24 Months on Full Price Bikes
  • We offer 9.9% APR finance over 12/18 Months on Sale Bikes.
    *Not all brands & models are eligible for finance.

Representative Example of interest free finance at 0% APR over 12 months

  • Cash price of goods: £5,000
  • Deposit at 20%: £1,000
  • Amount of credit required: £4,000
  • Number of Payments: 12
  • Interest Rate: 0% APR
  • 12 Monthly Payments of £333
  • Total to Pay: £4,000
  • Total amount of interest: £0
  • Total amount payable: £5,000

Representative Example of interest bearing finance at 9.9% APR over 12 months

  • Cash price of goods: £5,000
  • Deposit at 20%: £1,000
  • Amount of credit required: £4,000
  • Number of Payments: 12
  • Interest Rate: 9.9% APR
  • 12 Monthly Payments of £366
  • Total to Pay: £4,366
  • Total amount of interest: £366
  • Total amount payable: £5,366

Key terms and conditions for paying with finance

  • A minimum 20% of the value of the goods as a cash deposit is required (i.e. debit/credit card payment)
  • The value of the full price e-bike must be greater than £2,999
  • The loan can include payment for accessories, as well as an e-bike
  • Finance cannot be used in conjunction with a cycle to work voucher
  • Finance payment options exclude our Surge Boost promotion of 10% of the value of the bike as free accessories
  • In order to safeguard against fraudulent applications, we are only able to deliver goods to the home address of the applicant.

When do my repayments start?

Your monthly repayments will begin one month after your purchase has been delivered. For Buy Now Pay Later agreements the monthly repayments will start 12 months after the agreement has been signed.

Are there any arrangement fees or hidden extras for credit?

No. There are no arrangement fees or hidden extras.

What are the eligibility criteria?

To apply for finance you must:

  • Be at least 18 years of age
  • Work at least 16 hours per week, or be retired with an income
  • You must also be a resident of the United Kingdom and have lived in the UK for the last 12 months or more
  • Be able to make repayments by direct debit
  • Provide proof of id (valid photo card driving licence, old style driving licence or valid passport)
  • Provide proof of address (dated within the last 3 months).

Homemakers aren’t excluded from applying under their own names; however the employment details of your spouse / partner will be required in order to process your application.

Your application will be completed by you and a member of e-Bike Barn staff, either in person in the shop, or over the phone if you are buying entirely online. Please ensure you have the above information to hand. The application process will take approximately 30 minutes to complete.

How quickly will my finance application be approved?

All finance decisions will be made within 60 seconds. Once you are approved, we will contact you (during working hours Monday to Friday) to arrange delivery. If you your application is referred Novuna’s Underwriting Team will review your application and may request some further information from you before making their decision.

If you decline my application, what is the reason?

In addition to credit scoring, Novuna also takes into account confirmation of your identity, validation of certain application details, existing commitments and information held at the credit reference agencies. Though Novuna is unable to provide you with a main reason for declining your application, it is usually based on one, or a combination of the following:

  • Your credit score (please note that every finance company will score you differently)
  • Adverse credit reference agency information
  • You are considered to be overcommitted
  • You are aged under 18
  • Your existing account performance with other lenders.

What type of information do credit reference agencies hold about me?

Some of the information is public information, for example electoral roll, County Court Judgments and bankruptcies. Other lenders may also file information about accounts you hold with them for instance this could include your payment history and outstanding balance on these accounts. Any requests for credit, where a credit reference search has been undertaken, will also be filed, although the result of the request is not recorded.

How do I obtain a copy of this information?

Send a request to the relevant credit reference agency, together with details of all addresses at which you have lived over the last 6 years:

  • Experian Limited, Customer Support Centre, PO Box 9000, Nottingham, NG80 7WF
  • Equifax Ltd., Customer Service Centre, PO Box 10036, Leicester, LE3 4FS
  • TransUnion International UK Limited, Consumer Services, PO Box 491, Leeds, LS3 1WZ

The above listed agencies will provide details of information relating to these addresses. If you believe that the information is incorrect, you can ask the agency to correct it.

If my application is not successful, can I re-apply?

Yes. We acknowledge that circumstances change and just because a previous application has been refused, it does not mean that a further request will automatically be turned down. We do suggest however, that you leave at least 6 months between applications.

Once my application is approved, what happens next?

Within minutes of your application being approved, you will be presented with the options to either e-sign or print and return your finance agreement. If you choose to e-sign your agreement, a PDF of your agreement will be displayed on screen. You should read the agreement carefully before clicking all the relevant sections agreeing to its terms. If you choose to print and return your agreement you should print the agreement, read it carefully and then sign the document following the instructions on the covering letter. This signed document should then be posted to the address shown on the covering letter of the finance agreement.

Note that products will not be allocated to your order until your completed and signed agreement is returned and received by Novuna Personal Finance. Shipment of your goods will follow soon after your agreement has been returned and received.

What is APR and Rate of Interest?

The ‘rate of interest’ is the cost you will pay each year to borrow the money, expressed as a percentage rate. It does not reflect fees or any other charges. The ‘APR’ is a broader measure of the cost of borrowing than the interest rate. The APR reflects the interest rate, and other charges that you pay to get the loan. The FCA description of any APR is “APR stands for the Annual Percentage Rate of charge. You can use it to compare different credit and loan offers. The APR takes into account not just the interest on the loan but also other charges you have to pay, for example, any arrangement fee. All lenders have to tell you what their APR is before you sign an agreement. It will vary from lender to lender.

The small print

Credit is subject to status and affordability.
Terms and Conditions for the loan apply.
e-Bike Barn standard Terms & Conditions of sale apply.
Guarantee/Indemnity may be required for your loan.
Mitsubishi HC Capital UK PLC.
e-Bike Barn Limited T/A e-Bike Barn is a credit introducer not a lender for this financial promotion, authorised and regulated by the Financial Conduct Authority.
Our Financial Conduct Authority number (FRN) is 977734. The register can be accessed through http://www.fca.org.uk