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I-ME Solutions

Mountain View

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I-ME Solutions developed a finance product specifically for the enthusiastic cyclist to stay relevant and on top of the rapidly advancing sport of cycling. An added benefit is that an upgrade at any time is possible. We will show you how cost of ownership can beat the purchase price.

WHAT CAN I FINANCE?

  • New bicycle frame from manufactured approved dealer (indicating serial number)
  • Wheels
  • Attachments
  • All accessories (e.g. GPS and navigation)

BICYCLE TERMS

  • Get a loan from R10,000.00 and up.
  • Finance Period (rental): 12 or 24 months
  • Deposit: 0%
  • Escalation: Available with or without

REQUIRED DOCUMENTS

BUSINESSES
  • Company registration documents
  • Latest financials/management account
  • 3 months bank statements
  • Copy of ID of directors/shareholders/members

INDIVIDUAL

  • Last 3 months salary advices
  • Last 3 months bank statements
  • Copy of ID

I-ME SOLUTIONS - BICYCLE FINANCE FOR BUSINESS OWNERS:

We finance according to an operational rental model which has
various advantages:

  • A deposit is usually not required – therefore no negative effect for your company or in terms of your personal cash flow.
  • Due to the operational rental approach, VAT could be claimed in terms of such costing.
  • As is the case with golf green fees, your riding expenses (instalment/premium/insurance), when in the company of your clients, could be fully deductible from your taxable income.
  • Since the rental agreement is off the balance sheet, it does not affect the gearing of the company.
  • We finance a bicycle in your company name over a period of either 12 or 24 months.
  • Subject to credit approval. E & OE.

EXAMPLE:

A bike valued at R40 000.00 inclusive of
VAT, will attract a rental amount of
R2 304.40 including VAT, per month
over 24 months:

  • R2 304.40 minus claimable VAT = R2 003.82.
  • R2 003.82 minus 28% deducted from taxable income = R1 441.52.
  • R1 565.49 times 24 months = 37 571.74.
  • Total cost in terms of the agreement as structured, will amount to R34 596.38 and it is easy to see the savings involved.

 

 

 

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