How To Finance a Used Electric Bike
Written by: Rémy Rossi | November 26, 2025 | Time to read 6 min
Dreaming of an e-Bike but not the upfront cost? Learn how to split, finance, or defer your payments— without slowing your roll.
More about the Author: Rémy Rossi
Rémy Rossi is a bike writer, mechanic, and educator who got his start in community-based bike shops and co-ops. With a decade in the industry, he still wrenches on bikes when he can and plays bike polo on a fixie.
What financing options are there when buying a used e-Bike?
Here are the financing options available from Upway:
- Splitit: Pay for your e-Bike over 3 months
- Affirm: Pay-in-4 & Monthly Payments options up to 24 months
- Klarna: Pay in 4, Pay Now, Pay in 30 days, or monthly financing plans
- Shop Pay: Split into 4 bi-weekly or monthly payments
- Synchrony Freedom to Ride: Plans with up to 12-month deferred interest
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Splitit
The authorization hold is managed by your card issuer and is typically temporary, though the duration can vary depending on your bank’s policies. To use Splitit, your credit card must have enough available credit to cover the full purchase amount at the time of checkout.
Affirm
Your payment terms will vary based on the total cost of your purchase and the retailer. Some plans may include interest, but you’ll always see the exact amount upfront so you know exactly what you’re getting into.
Klarna
Klarna provides a handful of financing options, including Pay in 4, Pay Now, Pay in 30 Days, and Financing plans that extend from 6 to 24 months. For financing plans, Klarna’s APR ranges from 7.99% to 33.99%, depending on your credit profile. Beyond this, there are no hidden fees— you’ll always know exactly what you’re paying.
Klarna uses two types of credit checks depending on the payment option you choose. There are soft credit checks, used for options like Pay in 4, which have no impact on your credit score. Hard credit checks, on the other hand, may be required for long-term financing and will appear as an inquiry on your credit report.
Shop Pay
With Shop Pay, you can pay in full at checkout or split your purchase into more convenient installments. Installment options vary based on your order and can be used for purchases of $50 or more, meaning nearly all Upway purchases.
If you choose to divide your purchase into four biweekly payments, your credit score won’t be affected. For monthly payment plans, your repayment activity may be reported to credit bureaus, but applying for installments won’t impact your credit score.
Synchrony Freedom to Ride program
Synchrony offers flexible financing specifically for bike purchases, called its Freedom to Ride program. There are plans featuring up to 12 months of deferred interest, so you can spread out your payments over time.
There are no annual fees, and the application process is fast and straightforward. Freedom To Ride often provides higher approval rates than some competing options, helping more riders get on the road sooner. Pay your promotional balance in full within the designated term, and you’ll enjoy zero interest on your purchase.
How to finance your e-Bike purchase from Upway
You’ll be able to review all available options at the final stage of checkout, once your shipping details have been entered. Affirm, Klarna, and Shop Pay Installments are available under the credit card payment section.
The specific payment plan options and conditions are determined by several factors, including the price of the bike, your chosen repayment schedule, and your credit profile. Upway does not control or influence the financing terms offered.
Please note that financing options are not available if you select Express Checkout (such as Apple Pay) at the start of the checkout process. If you’d like to split your purchase between multiple payment methods, please contact us via chat on our website or by emailing helpdesk@upway.shop
Is financing an e-Bike purchase a good idea?
Financing options help manage the payments of a large purchase, such as an electric bike. Smaller payments over a specified period of time can better fit your financial schedule, especially for pricier items that are worth the investment. However, penalty fees, impact on your credit score, or high interest rates can make financing an unwise decision— so be sure to do your homework.
To be clear, I’m not a financial advisor, but I want to get the word out on the financing options available to Upway customers in case they may help. I think electric bikes are some of the most worthy investments out there, but the high initial cost can make pulling the trigger on the purchase difficult, or simply a straight-up bad idea at the moment. If the conditions are right, financing flexibility from the partners mentioned above can get you riding as you pay off your dream ride over time.
Shop Upway’s clearance sale for the best e-Bike deals!
Key Takeaways
- Multiple Financing Options: Upway partners with Affirm, Klarna, Splitit, Shop Pay, and Synchrony to make owning an e-bike more accessible.
- Flexible Payment Terms: Choose from short-term, monthly, or deferred-interest plans to fit your budget and timeline.
- Transparent and Simple Checkout: Financing is available at checkout with no hidden fees, helping you get on the road faster.
