Novuna Finance

Novuna Personal Finance

Paying by your goods by finance can be a helpful way to spread the cost of your purchase over a longer period of time. With our finance partner, Novuna Personal Finance, it's quick and easy to apply for.

We offer three different types of finance package each of which may be available over different length terms. The exact finance packages which will be available to you will depend on your spend level and if you are purchasing sale items. You will find the exact packages which are available to you detailed on the relevant product's webpage. Please note, some other promotions, such as our Podium Point promotion, will only be available with certain finance packages.

The finance packages we offer are:

Buy Now Pay Later - Nothing to pay for 12 months other than the initial 10% deposit. Settle your loan within the first 12 months and there's no interest to pay, just a £29 settlement fee. After the initial 12 months payment holiday period you'll repay your loan in 48 monthly instalments which are subject to interest.

Classic Credit - A traditional interest bearing loan. Pay an intial 10% deposit. The remaining balance is then subject to interest and repaid in monthly instalments.

Interest Free - A loan free of interest. Pay an inital 10% or 20% deposit and then repay the remaining balance in monthly instalments.

Finance packages

Finance Product	Buy Now Pay Later	24 Months Classic Credit	36 Months Classic Credit	12 Months Interest Free	24 Months Interest Free	36 Months Interest Free
Available on Sale Items	Yes	Yes	Yes	No	No	No
Minimum Spend	£399	£995	£2995	£399	£995	£2495
Eligible for Podium Point	Yes	Yes	Yes	Yes, Deduct 10	No	No
APR representative	24.9%	9.9%	9.9%	0%	0%	0%
Payment Holiday	12 Months	No	No	No	No	No
Fee if settled in Holiday	£29	-	-	-	-	-
Deposit	10%	10%	10%	10%	10%	20%
Monthly Repayments	48	24	36	12	24	36

Representative Examples

Worked examples for each finance product based on a £3000 spend.

Finance Product	Buy Now Pay Later	24 Months Classic Credit	36 Months Classic Credit	12 Months Interest Free	24 Months Interest Free	36 Months Interest Free
APR representative	24.9%	9.9%	9.9%	0%	0%	0%
Payment Holiday	12 Months	No	No	No	No	No
Fee if settled in Holiday	£29	-	-	-	-	-
Cash Price	£3000.00	£3000.00	£3000.00	£3000.00	£3000.00	£3000.00
Deposit	£300.00	£300.00	£300.00	£300.00	£300.00	£600.00
Total Credit	£2700.00	£2700.00	£2700.00	£2700.00	£2700.00	£2400.00
Repayments	48	24	36	12	24	36
Monthly Amount	£105.09	£123.95	£86.46	£225.00	£112.50	£66.66
Total Amount Payable	£5344.29	£3274.71	£3412.73	£2999.99	£2999.96	£2999.93

Please note the above examples are indicative cost and actual monthly payments may vary by +/- 2p per month.

The credit advertised is provided by one credit provider with whom we have a commercial relationship. Credit is provided by Novuna Personal Finance, a trading style of Mitsubishi HC Capital UK PLC, authorised and regulated by the Financial Conduct Authority.

Basic Requirements

Finance only available with purchases which include a bicycle or finance eligible wheels
You must be 18 years of age or older
You must have 3 years' address history in the UK or a British Crown Dependency (if approved by Novuna Finance)
Have a personal bank account from which a Direct Debit can be taken
Have an email address and telephone number
You must be in permanent paid employment (>16hrs pw) or retired and receiving a pension, or be a houseperson with a partner in permanent paid employment or be self employed
You must be purchasing the bicycle or wheels for personal use and not for business use.

Credit subject to status and affordability. Terms & Conditions Apply. Pedal On Limited are a credit broker and are Authorised and Regulated by the Financial Conduct Authority.

Credit is provided by Novuna Personal Finance, a trading style of Mitsubishi HC Capital UK PLC, authorised and regulated by the Financial Conduct Authority. Financial Services Register no. 704348. The register can be accessed through https://www.fca.org.uk (Novuna Personal Finance, 2 Apex View, Leeds, LS11 9BH. 0344 375 5500).

Applying Online

You can apply for finance for both home delivery and in store collection online.

To apply for finance through this website:

Add the items you'd like to your shopping cart and go to checkout.
At checkout you can chose between Home delivery or in store collection. Note, we can only deliver to the address shown on your finance application.
At checkout you will be presented with the finance packages that are available to you based on the goods in your shopping cart. When you select each package you'll be shown a tailored finance quote based on the contents of your shopping cart. If you would like to proceed with any package then select that option and proceed through checkout.
You will be forwarded to the Novuna Personal Finance to apply for your finance.
Novuna will normally either Accept or Decline your application immediately. In some cases your application may be Referred for further checks. If your application is Referred we will reserve the stock for you whilst this process takes place.
Once your application has been Accepted and e-signed we will send you a payment link to pay the Finance deposit.

If you have chosen to collect your goods in store then we will contact you to arrange a collection date. You will be required to pay your deposit in store and you will need to bring the following documents with you:

Photographic ID: Valid Passport or Driving Licence
Proof of Address: Driving Licence or Public Utility bill (Dated in last 3 months showing applicant's name & address, online bills/statements are not acceptable.)
Credit/Debit card to be used for the deposit payment. This must show the applicant's name and be registered to the address used in the finance application.
Proof of order: A copy of your order email confirmation from us.

Applying In Store

You can apply for finance in person in our store.

You will require the following items:

Bank/Building society details to complete the Direct Debit mandate
A major credit/debit card to pay your deposit.
Identification (one of): A valid photo driving licence or a valid passport.
Proof of residence (one of): A valid photo driving licence, an original Bank statement (not internet, dated in last 3 months), an original Public utility bill (dated in last 3 months, not mobile phone) or an Official document (original mortgage statement from a recognised lender, HMRC tax notification.)

You will be asked to answer the following questions:

Date moved in to Current Address.
How long has Mortgage been held for.
Post Codes & dates of all address lived in during the last 3 years.
Employees Name, Telephone Number & Post Code.
Net Monthly Salary.
Date Employment started.
Bank Sort Code & Account Number.
Date bank account opened.

Satisfying the above criteria and possessing the correct information does not guarantee you will be accepted for finance. Should your finance application be declined or referred you will not be able to leave the store with any goods.