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Trek Financing: Fund Your Next Ride With These Funding Options

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Trek makes some of the most popular bikes in the world for bombing down trails, taking on challenging century rides and everything else in between. Whether you enjoy riding a road bike, mountain bike or a city cruiser, consider these Trek financing options to make your purchase more affordable.

Trek Credit Card

Trek offers a co-branded credit card through Comenity Bank that could provide flexible financing terms if you are approved. With the Trek Credit Card, there is a $0 annual fee, and you can use the card at Trek’s 1,300 retailers nationwide.

Financing is offered in two tiers:

  • 6- or 12-month promotional period
  • 9.99% APR for 24, 36, 48 or 60 months

Special financing

If you are eligible for the six- or 12-month special financing plans, you’ll pay 0% APR as long as you pay off your purchase in full by the end of the promotional period.

For six-month special financing, you must spend a minimum of $250. The 12-month financing plan requires a minimum purchase of $1,000, which doesn’t include sale-priced bikes or merchandise.

If you make a late payment or do not fully repay the amount financed within the promo period, you’ll be charged a 28.74% variable APR from the date of purchase. This is called deferred interest, and can cost you a bundle if you’re not careful.

Promotional APR

If you’re not offered either of the 0% interest financing plans outlined above, the 9.99% APR could be right for you. However, you’ll have to spend at least $1,999 on a regularly priced bike. This promo is not available when purchasing merchandise.

Depending on the plan, you can spread out payments over 24, 36, 48 or 60 months at a 9.99% APR (after that, the variable purchase APR of 29.24% applies).

However, before you break away from the pack and start sprinting toward the finish line, there are some caveats to Trek card financing:

  • Spreading out payments over 60 months at a 9.99% APR means you’re going to wind up paying a lot more in interest charges for your bike than what you saw on the price tag. For example, if you purchased a bike at $3,000 and paid it back at a 9.99% APR over five years, you’d owe $823.58 in interest.
  • If you don’t pay off your purchase by the end of the 9.99% period, the purchase APR will apply. The interest will be charged from your purchase date.

Ask local retailers about promotions

Because promotions vary by location, you’ll have to reach out to local Trek dealers to see what bike financing promotions are available to you. Here are a few other things to note about the Trek Credit Card:

  • You can apply for credit online
  • It can’t be used for purchases online, so you’ll have to visit a retailer
  • No rewards are offered

3 other Trek financing options

1. Personal loan

With a personal loan, you are typically borrowing a fixed amount of money at a fixed APR and repaying it over a fixed period. Funds can be used for everything from consolidating debt to making major purchases.

Like most forms of credit, borrowers with the highest credit scores typically qualify for the best lending terms. For example:

  • The average APR for borrowers with a 720-plus credit score is 7.25%.
  • The average APR soars to 107.13% if your credit score is between 560 and 579.

Getting approved for higher loan amounts could come in handy if you’re shopping for a high-end Trek bike. Almost all of its road models will set you back thousands of dollars. The high-tech Checkpoint SL 7 model, for example, starts at $5,999.99.

Even if you have bad credit, you might still be able to qualify for a personal loan. But, it’s important to know that your APR may be much higher, and your approved loan amount will likely be lower.

Some personal loans come bundled with charges such as origination and late fees, which can add to the already high cost of repaying the loan. Make sure to compare personal loan lenders as you search for your best option.

2. Rewards credit card

Depending on your creditworthiness, you might qualify for one of the better cashback credit cards offering 1% or more on everyday purchases.

Suppose you have your eye on a sleek road bike to take on that century ride you’ve always dreamed about, but it costs $3,000. If you pay for it using a 1.5% unlimited cashback credit card, you’d earn back $45.

Some rewards cards also offer a 0% interest promotion for a certain amount of months. You could save money by not paying interest charges if you pay back your purchase within the promotional period.

If you’re shopping for a cashback rewards credit card, look for one or more of the following:

  • Multi-tiered rewards
  • 0% promotional APR
  • $0 annual fee

3. Cash

Sometimes, you just don’t want to take out a loan or add a balance to your credit card. This is when cash (and a bit of frugal shopping) can come into play. The company has a selection of bikes for kids and adults for less than $500.

To pay for your new bike, you could set aside, say, $25 from each weekly paycheck (or $50 if paid every other week). After five or so months, you’d have $500, though you’ll need to remember about the sales tax.

The important thing about cash is you’re in control, and you can put aside amounts with which you feel comfortable. That being said, we wouldn’t advise you use money from an emergency fund or something similar. You might really want that bike, but it’s good to be practical.

Bottom line

Trek bike financing doesn’t have to lead you down a complicated — and bumpy — road. Make a careful assessment of your financial situation, including your bike-buying budget, and compare all the lending options available to you so you can decide which ones make the best sense for you.


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