Originally Posted by
topflightpro
No. Bicycles do not hold value well nor is there a standardized secondary market for them. No lender would ever take a bicycle as collateral.
They'll just keep sending monthly bills, letting the interest accrue until they give up and send it to collection, ruining your credit.
I was thinking the same thing.
BTW they can also grab your paycheck or bank account in addition to ruining your credit. Depends on how aggressive they want to be.