Taking out a loan for a bicycle may sound a little unconventional, however when you’re serious about riding you know that means you’re serious about spending.
Bicycle options have evolved and bicycle commuting is more popular than ever in Vermont. Whether you’re in the market for a mountain bike, cargo bike or an electric assist bike for help getting up those steep Vermont hills, there are options available to you that don’t require emptying your savings account or pulling out a credit card.
VSECU member Matt Cherry was riding his old mountain bike to work every day partly because he loves cycling, and partly to minimize his environmental impact. But when Matt needed a new ride, better suited to his 10-mile round-trip bike commute in Putney, he came to VSECU.
“It was hard for me to afford a new bicycle so the option for a low-interest loan was really helpful. It allowed me to get a great bike that I can start using now,” Matt said. “I was able to get a bike that fit my needs, is of great quality, and it should last a long time.”
Not only are newer bikes more costly but the accessories are too. We’re here to help you get the bike you need with the accessories to make your ride safe and practical. You may need electric assist to get to and from your destination, you may need cargo options for carrying groceries or other items, and of course everyone needs a good helmet.
Our VGreen program offers a loan that can be used specifically for the purchase of a bicycle, the Energy Improvement Loan. Originally designed for unsecured energy saving purchases for your home, this loan can also be used to finance a bike purchase with the same discounted rate. Complete an online application to get pre-approved before you shop.
If you’ve recently purchased a new bike and would like to use VSECU financing to pay down another line of credit, such as a credit card, you may have used to make the purchase, contact us to see what options are available for you. A copy of your purchase agreement/receipt will be required.“I am bike commuting because I love riding bikes,” said Matt. “It’s great exercise, great for the environment, and it’s a wonderful way to be outside.”
Let VSECU make your bicycle purchase as easy and affordable as we did for Matt.
Resources for Vermont bike enthusiasts: