Bike PCP question.

[Martylaa]

Quick question I'm wondering if anyone can help me with, I have a bike on PCP but I'd like to switch it for something else, question is would a different dealer to the one I bought the bike from take my PCP bike in as part ex against a new bike?

[scorcher]

Can’t see no reason why not. Adjustments would be made to ensure your pcp would be paid off before a new contract was drawn up. Depending on how far through your contract is and the amount you owe , you may need to put your own money towards settling the first contract, or you may have a small amount to put towards your next bike.

[Birky_41]

Simply put yes. They'll value your bike, get your settlement and then let you know if you have equity, parity or negative and you need to put cash in/lump and bump

[Biker 1]

Yep - I've done this with cars previously.

[hiccy18]

I traded my last bike in a few months before the PCP was up, there was enough equity to be the deposit for the current bike.

[airsafari87]

Yes. I traded a Ducati in at a BMW dealer.

[Martylaa]

Thanks all for the advice, reason I’m asking is I feel I’ve bought the wrong type of bike for myself when all along I knew I should of got the one I really wanted, it’ll most likely be an expensive lesson for me, a proper relative newbie mistake.

[Stevemtb]

Why not get a settlement figure, sell it privately, clear the finance by transferring funds to the lender in front of the new buyer and start again. Good time to be selling, shouldn't be tricky.

[Jazoli]

Stevemtb said:

Why not get a settlement figure, sell it privately, clear the finance by transferring funds to the lender in front of the new buyer and start again. Good time to be selling, shouldn't be tricky.

Probably just as straightforward to trade in it at a dealers against the bike he wants, done it many times now.

[podman]

Stevemtb said:

Why not get a settlement figure, sell it privately, clear the finance by transferring funds to the lender in front of the new buyer and start again. Good time to be selling, shouldn't be tricky.

Agreed, thats why I did with my car end of last year...I sold it to we buy any car and used the profit on another deal.

See who offers the best deal OP.