BikeBiz Bicycle and cycling retail news
Moore Large has partnered with Pay4Later to provide Moore Large dealers with an interest-free credit service, which can be offered to customers in-store and online.
Pay4Later is pitched as a fast and easy way to offer finance. The packages allow dealers to maintain their normal margin on the distributor’s products sold through this new deal. There are no sign-up, monthly or transaction fees and no need for ACT membership or a consumer credit license.
For the end customer to qualify, the purchase must be a minimum of £440 used against products distributed by Moore Large. This could be on bikes from the likes of Forme or Polygon, electric bikes from Peugeot or alternatively on P&A such as American Classic Wheels or Lake Shoes. It can even be a mix of products rather than one big purchase, as long as all the products are purchased through Moore Large. The customer can then choose to spread the payments over six months, 10 months or 12 months. The retailer must take an initial 10 per cent deposit.
The offering is hoped to give retailers competitive advantage as well as a significant increase to turnover by offering customers help with obtaining the funding to purchase products, especially if the market is tough.
For the dealer to be eligible for this offer they need to be a bike shop with an annual turnover greater than £300,000. Pay4Later will take a subsidy amount at source (a small percentage of the total credit application), which Moore Large then credit in full once the statements have been produced and the items brought through the credit agreement have been re-ordered by the retailer.
Interested dealers can follow this link to receive exclusive discounts and benefits. Shops that register for the scheme will be eligible for one free ‘join.me’ training session which explains how it all works. If you have any queries please contact Adam Kirkby at Pay4Later on 07557344259. He can also be contacted via email, adam.kirkby@pay4later.com.
The Pay4Later offering for Moore Large dealers is running in addition to its V12 Finance partnership.
