BikeBiz Bicycle and cycling retail news
Moore Large has partnered with V12 finance to provide their Moore Large trade accounts with an interest free credit service, which can be offered to customers of their retail outlet.
The finance packages cost the bike shop nothing and still allow the dealer to maintain his normal margin on the distributor’s products sold via this new deal, the firm said, adding: "A retailer can gain 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 end customer to qualify the credit must be a minimum of £250 used against products distributed by Moore Large – for example on bikes from Forme or Moda, e-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 choose to spread the payments over six months or 12 months. The retailer can decide whether or not to take an initial deposit in addition to the £250 or above finance amount.
For the dealer to be eligible for this offer they need to be a National Association of Cycle Traders (ACT) member, have been trading for at least 12 months and the item’s purchased through the scheme re-stocked through Moore Large. The Moore Large scheme can be accessed via V12’s system. V12 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 are recommended to register with the ACT and V12 so they can take advantage of this valuable service. Once registered with ACT members need to contact V12 to access the scheme. If you are already an ACT member and registered with V12 you can start using this service now through the V12 website.
