I’m just about to buy my first bike, however being a poor 19 years old student it’s hard to get a lump sum of money to pay for things.

I’ve secured a loan for £2000 at 15.8% p.a which seems good due to having no credit history, and this could go to my bike as well as insurance and gear. Do you think it would be worth it to go for this loan? Just for more information, there is a minimum of £5pm repayment for 40 months, and afterwards it would be around £192 p/m, but I plan on repaying within a year or two at around £100pm to decrease the interest accrued, and there is no penalty for repaying early.
Thanks for your advice on wether to take this loan or not