The UK's IBD initiative Ride it away retail finance has enjoyed its biggest single month ever in terms of sales.

IBDs enjoy biggest ever month of finance sales

Despite recent reports suggesting cycle sales are suffering, the UK’s IBD initiative Ride it away retail finance has enjoyed its biggest single month ever in terms of sales.

A representative from ACT said: "Although bike sales remain challenging – not only for IBDs but for the entire cycles sector – when done right, finance is proving to be the solution."

900 retailers are now offering their customers finance through the ACT’s exclusive scheme, which saw more than 7500 transactions approved in July alone, generating well over £8m in cycle and accessory sales and surpassing June 2015 as the biggest month ever for sales.

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