Most any place that does this kind of lending does so on lines of credit with different liens than the item purchased. Usually it's a "credit card" credit line opened and those can garnish your wages, withhold your tax return moneys, etc... to recoup if you don't pay.
I think even the "rim time" sports rims for your car places "rent to own" wheels and those might repossess since they don't necessarily use credit lines.
So, I'd think the more expensive bikes would be more like a traditional credit line.