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<\/p>If you\u2019re looking for an easier commute to work or some extra motivation to get active, an e-bike could be the answer. And if you want to finance an e-bike in Canada, there are several ways to go about it.<\/p>
In this guide, we\u2019ll look at six e-bike financing options to help get you pedalling.<\/p>
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How it works:<\/strong> In-store electric bike financing is a quick and convenient option to get your new bike. Stores work with third-party providers to offer financing, and you can split up the purchase price into regular repayments over terms ranging from 3 to 60 months. 0% and low-interest financing are available, but 0% interest may only be available for an introductory period. Some retailers also offer Buy Now Pay Later financing, where you can split the purchase price into four equal payments over six weeks, with no interest charged.<\/p> Suited for:<\/strong> People looking for a quick and easy e-bike financing option. Keep in mind that you\u2019ll typically need good credit to qualify for 0% financing.<\/p> Pros<\/strong><\/p> Cons<\/strong><\/p> How it works:<\/strong> You can use an unsecured personal loan<\/a> from a bank, credit union or private lender<\/a> to fund your e-bike purchase. Banks and credit unions have strict eligibility criteria, so you\u2019ll typically need good to excellent credit to qualify. Many private lenders accept borrowers with bad credit, but you\u2019ll need to settle for higher interest rates as a result. Loan terms typically range from 3 to 60 months.<\/p> Suited for:<\/strong> Borrowers with good credit.<\/p> Pros<\/strong><\/p> Cons<\/strong><\/p>Option 2: Finance an e-bike using a personal loan<\/h3>
Compare personal loans to finance an e-bike<\/h3>
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