Should you pay for an e-bike or bicycle with instalments?


Have you ever eyed an item that costs thousands of dollars for so long because you keep telling yourself, “Not Today”, “I’m going to save up first”, “I’m going to wait for my bonus” and so on? 

Here’s how instalment plans come in handy!

Paying with instalments basically means dividing your payments into smaller sums at regular intervals over a certain period of time. So rather than paying the full price at once and leaving a hole in your wallets, this payment option is highly used among higher-priced products you see every day like Properties, Televisions, Vehicles and even Bicycles or Electric Bicycles (E-Bike).

Even so, many are still hesitant about buying a bicycle or e-bike with instalments.

This is due to the strong belief in the community that paying by instalments is not recommended as it may be financially draining in the long run or throughout the months/years you pay for the item.

If you find yourself at a standstill, not sure of what you would be up against when you commit to paying by Instalment, especially if you’re someone who needs a bicycle or e-bike urgently, then continue reading!

Let us help you break down the pros and cons of paying by Instalments to aid in your decision making!

Pros of paying by Instalment

  1. Less Financial Burden

When you pay for a product that costs close to $2,000 at one go, you will definitely feel the pain to survive for the month with a lot of other financial burdens waiting for you like your house bills, phone bills or taxes.

With Installments, these financial burdens would feel lighter since you managed to fork out a smaller amount as compared to the retail price for that month!

  1. You can use the product immediately

Saving money would take months for you to finally buy the bicycle/ebike you’re eyeing for. If you’re unlucky, you might not even get it if the Stocks are limited. Current Stocks include the popular Express Drive Plus E-Bike, Royale Folding Bicycle, and many more!

With Instalments, you’ll just have to fork out some from your monthly salary and you can immediately enjoy your new adventure with your new ride!

  1. Use balance for others essentials

Emptying your pockets in a single transaction when you still have your regular groceries, take-outs to pay for? 

Pay with Instalments and you for sure would still have enough to help you for that month! You could also use that extra cash to purchase accessories to go along with your new ride!

Here’s some popular cycling accessories to consider:

Tonyon Bicycle Lock With Keys


GUB A2 Bicycle Helmet


GUB G-85 Mountable Bicycle Phone Holder

  1. Use it to earn more income

This is for the riders who need an e-bike or bicycle to work! Just think about it!

A food delivery rider earns on average about $5 per delivery these days. If you do 10 orders daily, that would be almost enough to cover the price you paid for the bike that month!

Not a bad move after all, isn’t it?

  1. Instalment cost stays constant while disposable income may increase

As the amount you commit to paying monthly for your instalment remains constant, the burden of the monthly payment decreases with more disposable income. Even if your disposable income remains constant, there is a constant certainty that the amount paid will not suddenly increase.

Cons of paying by Instalment

  1. Additional commitment monthly

Might not seem much to most, but you might need to include one more payment to the equation when you plan your monthly budget.

It may be a hassle at first but once you’ve gotten the pace of paying the amount monthly, it would be easier to manage.

It is obvious how the benefits of paying for a product using our 0% instalment plans outweigh the disadvantages. With that being said, we’ve also diversified our payment options to give customers more options when it comes to their preferred mode of payment.

Types of Installments

  1. PACE

The most popular choice of instalment plan. PACE is known for their 3 months interest-free instalments.

The process will be made via the Pace app! Conveniently, it only takes 3 minutes of your time to register and approvals are made instantly as well!

  1. Credit Card

We also do Credit Card Instalments with interest-free for 6 or 12 months! Accepted cards are OCBC, UOB, AMEX, POSB/DBS.

  1. Grab

One of the rising apps in Singapore, Grab, also has instalment Payment options called Grab Paylater. You can activate Grab PayLater to enjoy 4 months interest-free instalments or get the bike first and pay next month!

  1. Fundbox

Lastly, if all of the options are still inconvenient for you, we also have the Cash instalment option which allows 6, 12 or 24 months.

This however will require application with our instalment partner, Fundbox to see if guarantor is needed.

With all the pros that outweigh the cons and a Variety of instalment plans to choose from, paying by instalments may just help you achieve your needs without bursting too much of your monthly budget. At Gill, we give our customers the lowest and most convenient payment modes with 0% interests for all our instalments. Click here to visit our e-bike and bicycle shop.

If you would like further in-depth calculations based on your budget and the ebike or bicycle you want, please do not hesitate to get in touch with us on Facebook or Carousell. If you prefer dropping us a call, do so at 6734 9373.

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