How finance works
How finance works
No deposit. Nothing to pay today. 12 fixed monthly payments and it is done. Payitmonthly charge you no interest and no fees. The one thing to know up front: the bike costs more on finance than paying in full, and this page shows exactly how much.
What each bike costs
The finance price difference is £149 on the Hyper Bee, £199 on the Light Bee X, £299 on the Ultra Bee. Everything else is the same.
Sur-Ron Hyper Bee
£149 more on finance
Representative 10.9% to 11.4% APR
Sur-Ron Light Bee X
£199 more on finance
Representative 11.9% to 12.7% APR
Sur-Ron Ultra Bee HP X
£299 more on finance
Representative 10.4% to 10.8% APR
Ranges cover the different colours and shipping options. UK stock costs more than the longer-lead pre-order direct from the factory. The exact figures for your bike, colour and warranty choice are shown on the product page before you apply, along with the representative example for that basket.
If you add an extended warranty it is financed with the bike, so it is included in the amount financed and it changes the monthly payment, the total and the APR. Gold 1 year cover at £199 is the default: a UK stock Light Bee X with it comes to £3,597.00, which is over the £3,500 single agreement limit, so £3,500.00 goes on the agreement and the remaining £97.00 on card. Representative 11.2% APR.
Why the finance price is higher
Payitmonthly charge us a fee on every agreement they run for us. It is a percentage of the order, so on a bike it is a lot more than most people would guess. Until now we absorbed it and priced every bike as if everyone paid by card.
We are not willing to raise prices for everyone to cover a cost that only applies to some orders. So the difference sits where the cost actually lands: on finance orders.
There is nothing else. No arrangement fee, no admin fee, nothing added at the end, and nothing to pay if you are declined. If you would rather not pay it, pay in full by card or PayPal and the price is the one on the product page.
Why there is an APR when there is no interest
Payitmonthly charge you no interest and no fees. Not a penny of the difference goes to them. The bike costs more when you buy it on finance, and that difference is ours, not theirs. UK rules say an APR has to include every cost you only pay because you are buying on credit, so the difference gets converted into an annual rate. Your Payitmonthly agreement will show 0% interest, and that is correct: the difference is part of our price, not their charge.
Representative example
Representative 11.9% APR
How to apply
- Pick your bike, colour and warehouse option on the product page.
- Choose a warranty tier if you want one. It is added to the amount financed and goes on the same agreement.
- Hit the finance button. It shows the extra cost before you click.
- Fill in the short Payitmonthly form. A decision usually takes minutes.
- Sign digitally. We then confirm your order and book delivery.
Nothing is charged today and there is no deposit.
Who can apply
- 18 or over and a UK resident
- A UK bank account
- Regular income that comfortably covers the monthly payment
Payitmonthly make the lending decision, not us. Finance is subject to status.
Orders over £3,500
A single Payitmonthly agreement covers up to £3,500. Above that the total is split across two agreements that run side by side, so you still make one set of monthly payments. One bike goes over that line on finance:
- Sur-Ron Ultra Bee HP X: £5,798.00 on UK stock, split into agreements of £3,500.00 and £2,298.00, or £5,598.00 from the China warehouse, split into £3,500.00 and £2,098.00.
The Light Bee X at £3,198.00 to £3,398.00 on finance and the Hyper Bee at £2,648.00 to £2,748.00 stay on a single agreement. Adding a warranty raises the amount financed and can push a bike over the £3,500 line, and the product page tells you before you apply. You complete the agreements back to back and it takes a couple of minutes longer.
You can also finance £3,500 and pay the remainder by card if you prefer.
Common questions
Why is there an APR when Payitmonthly charge no interest?
Payitmonthly charge you no interest and no fees. Not a penny of the difference goes to them. The bike costs more when you buy it on finance, and that difference is ours, not theirs. UK rules say an APR has to include every cost you only pay because you are buying on credit, so the difference gets converted into an annual rate. Your Payitmonthly agreement will show 0% interest, and that is correct: the difference is part of our price, not their charge.
Is there a deposit?
No. There is nothing to pay today and no deposit at any point. You make 12 monthly payments and that is the whole agreement.
Does an extended warranty go on the finance?
Yes. If you choose a warranty it is included in the amount financed, so it is spread across the same 12 monthly payments. It changes the total and the representative APR, and the product page shows both before you apply.
What happens if I am declined?
Nothing. You have not been charged and there is no application fee and no difference to refund, because the difference only applies to a bike actually bought on finance. The pay-in-full price is unchanged and you can still order by card or PayPal.
Can I use a discount code with finance?
No. Discount codes apply to card and PayPal orders only. If you have a code, paying in full will always work out cheaper.
Can I pay it off early?
Yes. You can settle early with Payitmonthly at any time. There is no interest, so there is nothing extra to save and no early settlement penalty.
How do I apply?
Pick your bike and options on the product page, then hit the finance button. The Payitmonthly form is short and a decision usually takes minutes. Nothing is charged today.
Traction Bikes is a credit broker and not a lender. We introduce you to Payitmonthly and we do not charge you a fee for that introduction. Finance is subject to status and available to UK residents aged 18 and over. Representative 11.9% APR. All bikes are supplied off-road only and are not type-approved for UK public roads in stock form.