According to Mordor Intelligence, the bike market is expected to grow by 4.29% between 2021 and 2026. This boom was largely due to the COVID-19 pandemic restrictions that made people realize how safe and dependable bicycles are as a mobility, recreational, and lifestyle option.
The increase in outdoor sports and leisure cycling (mountain bikes, road bikes, fitness bikes, and city bikes) has made them more expensive. But this shouldn’t worry you, as there are still ways to get great bikes at affordable prices.
Here are the ten ways to get a great deal on bikes.
Buy bikes during the off-season.
Big bike stores often try to get rid of the old stock at certain times of the year. In such cases, they lower the bike prices to encourage many discounted sales. This is the best time to buy that bike you wanted but couldn’t afford.
These sales are typically held twice between late fall and the winter season. Bike shops use this price promotion strategy to get rid of the old bikes and make room for the newer bike models.
Online auctions
If there’s a place to get the too good to be true deals, online auctions are the place to go. You can get a legit bike, say the newest model, at a giveaway price. Bidding prices start as low as $2 at this great online auction.
Seizing such deals helps you save a sizable amount of money.
Online bike shops/stores
Online bike stores offer great bikes at bargain prices if you’re looking for a great Toronto Bike Shop in your area. But their catalogues can be confusing. The trick is to know exactly what you need, like details about your preferred bike brand, model, color, and size. Otherwise, you will get confused with the diverse assortments of bikes and end up buying anything that looks good.
Buy used or second-hand bikes from accredited stores/dealers.
A used bike is usually cheaper than a new one. That said, you can never be sure if it’s in the proper condition that the seller says it is.
To avoid getting cheated, buy used or second-hand bikes from accredited stores. If you are purchasing a bike online, look at the seller ratings. A higher rating or ranking shows that the seller is legitimate and sells quality products.
You could also ask an experienced biker or cyclist to look through the listing and help you check out the bike when you are picking it up.
Most second-hand/used bike dealers offer discounts according to how long the bikes have been used. These discounts can go up to 45% for first-year depreciation. This means that you can get a one-year-old bike at half its original price.
Buy the bike with cash.
Most bike shops offer a discount for cash payments. On the other hand, buying a bike on a loan or installment basis is more expensive in the long run.
Depending on the loan terms, you can end up paying much more money than you would have spent buying it with your own money.
Buy a bike that is overstocked.
One of the easiest ways to get a great deal on a bike is when it is overstocked.
When there is an overstock in bikes, shops or manufacturers offer discounts to get rid of the excess inventory. This scenario is great for those who want a bike with no specific brand in mind.
As long as you don’t care about riding the same model as everyone else, you can save up some hundred dollars. You can also opt to buy a wheel size that is out of fashion.
Haggling or bargaining
As a new customer, you can use this to your advantage. Because bike sellers want to convert new clients, they are flexible in their prices and packages. You can leverage your position to get a great price on the bike of your choice.
You can also bargain or negotiate for lower bike accessories’ prices and after-sales services such as bike fitting or maintenance. Doing this will help you get a great deal on your bike and its accessories.
Buy a bike from bike rentals.
Although these bikes are already used, they are still in good condition. This is because bike rentals have mechanics who repair and keep them in proper working order. On top of that, bikes from rentals come with the original manufacturer’s warranty.
Apart from their low prices, you can still score a discount on the bike selection you make.
Build a custom bike
Do you like to build things from scratch? Well, this alternative will not only save you a lot of money, but it will also give you the chance to do something you love.
You need to buy the bike frameset and all other bike components from a trusted dealer to build your bike. And the beauty of it is that you get the freedom to choose the specifications of all bike parts at budget prices.
Get one from a good demo program.
A demo program does more than get you a good deal; it gets you the perfect bike.
You’ll pay a fixed fee, say 200 dollars, to demo or ride as many bikes in the program as you like for a specific period.
By the time you finish the demo, you have ridden many bike brands, models, and sizes. And you get to know which bike suits you best.
And, of course, if you choose to buy a bike, you get a discount for participating in the demo program.
Buy from a direct-to-consumer Bike Company.
You can get a brand new bike at a discount from a Direct to Consumer Company. Bike manufacturers like YT Industries, Commencal, and Canyon make great mountain bikes that they sell for hundreds/thousands of dollars less than the big bike brands in the world.
Conclusion
All of the choices we’ve reviewed will provide you with excellent value.