Buying a bike v pcp

[dern]

If you have to buy a new bike (someone has to) it makes sense depending on the deal and compared to buying a new bike outright maybe it makes sense. I just can't get my head around buying a bike new and pissing away all that depreciation when there are second hand bikes hardly used for loads less. Same with cars. Each to their own.

[Ho Lee Kau]

swerni said:

Jazoli said:

Rubin215 said:

I'm very happy to buy a bike on your behalf and let you pay me a set amount every month to use it on the understanding that you will tax, insure and service it regularly, keep it in good condition, not exceed a certain mileage and then hand it back to me in a few years time to sell on with the understanding that we will do exactly the same all over again and again and again.

PCP? Mugs game...

Yup there's always one.

I thought this corner of PH was free of bellends.

I feel such a mug letting the dealer pay the £2500 deposit for my Africa Twin and then all the payments being interest free.

Maybe I should go to Rubin for financial advice

I am DREAMING of interest-free leasing. NEVER seen one. Not in Switzerland.

[bogie]

Many finance companies will do you interest free if you put down say 30-40% deposit. I bought the last bike like that. Sure the payments were higher than PCP, but no interest and 2 years later you have say £8k of bike sat there with no payments going out every month.......again no "right" way of doing it, but sometimes manufacturers do make it appealing with certain deals if they need to shift some stock.

The Honda deal on the new Africa twin was crazy good....if you wanted a new Africa Twin of course

[JustAnotherNobody]

Ho Lee Kau said:

I am DREAMING of interest-free leasing. NEVER seen one. Not in Switzerland.

Motorcycles are very cheap here compared to the average income though, so it's no surprise that we don't get good leasing deals. We are very lucky in that regard.

[Birky_41]

Rubin215 said:

I'm very happy to buy a bike on your behalf and let you pay me a set amount every month to use it on the understanding that you will tax, insure and service it regularly, keep it in good condition, not exceed a certain mileage and then hand it back to me in a few years time to sell on with the understanding that we will do exactly the same all over again and again and again.

PCP? Mugs game...

Happy to do a deal on mine at the end then if you want? Fsh, any warranty work done, all recalls done, will be about 22k on the clock, 3 years old and a very sensible rider

All within pcp guidelines with fair wear and tear.

I can be the mug who's been nurburgring on it 3 times, iom TT twice, Europe tour, 3 track days and alot of great road rides at a cost of £192 a month and you can be awesome buying mine outright and get a right 'steal' while I pcp another new one in warranty with the latest tech

Win win

[Hungrymc]

swerni said:

Was funded by Honda to a single dealer.
Quite a few other PHers went for the same deal.
£70 a month for a new Africa Twin, cheaper than an iPhone.

That’s a great deal.

[Birky_41]

Hungrymc said:

swerni said:

Was funded by Honda to a single dealer.
Quite a few other PHers went for the same deal.
£70 a month for a new Africa Twin, cheaper than an iPhone.

That’s a great deal.

Yep my brother and I work for a brand that supplies Honda and suzuki. He personally bought a cb650f with about 500 deposit for 50 a month and sold that a year later for a gsxs1000 for 500 deposit 99 a month

I mentioned it on here recently as he's now touring the world so sold it back to the dealer for 7300 what he owed in finance. Such a bargain of a bike

[Zarco]

swerni said:

I thought this corner of PH was free of bellends.

Whatever made you think that?!

[Biker's Nemesis]

Camelot1971 said:

Rubin215 said:

I'm very happy to buy a bike on your behalf and let you pay me a set amount every month to use it on the understanding that you will tax, insure and service it regularly, keep it in good condition, not exceed a certain mileage and then hand it back to me in a few years time to sell on with the understanding that we will do exactly the same all over again and again and again.

PCP? Mugs game...

It's not our fault you can't afford a new bike so don't take it out on us.

A stty reply to a stty reply!

[phil4]

If it's anything like the car world, I fear it'll lead to new bike pries going up.

It's entirely theory... so shoot me down, but I figure the reason many cars are now higher priced is that they're sold on PCP, so the buyer doesn't really pay much attention to the price, they just want to know what the monthly are.

[HughiusMaximus]

dern said:

If you have to buy a new bike (someone has to) it makes sense depending on the deal and compared to buying a new bike outright maybe it makes sense. I just can't get my head around buying a bike new and pissing away all that depreciation when there are second hand bikes hardly used for loads less. Same with cars. Each to their own.

I'm torn on this... I'm the same, I have never bought a brand new bike, and my natural disposition is to let someone else take the hit and pick one up second hand..

The reality is though that if people keep on waiting or second hand bikes there wont be enough new bikes bought to keep the whole thing going.

I guess secondhand pcp bikes are effectively the same thing, but it still worries me.

I'm tempted to do my bit and selflessly buy a 765 Daytona if Triumph release one.

No need to thanks me...!

[Ho Lee Kau]

JustAnotherNobody said:

Ho Lee Kau said:

I am DREAMING of interest-free leasing. NEVER seen one. Not in Switzerland.

Motorcycles are very cheap here compared to the average income though, so it's no surprise that we don't get good leasing deals. We are very lucky in that regard.

Average has NOTHING to do with reality.

Edited by Ho Lee Kau on Sunday 29th July 09:35

[coffeeguy66]

Mr2Mike said:

Camelot1971 said:

Rubin215 said:

I'm very happy to buy a bike on your behalf and let you pay me a set amount every month to use it on the understanding that you will tax, insure and service it regularly, keep it in good condition, not exceed a certain mileage and then hand it back to me in a few years time to sell on with the understanding that we will do exactly the same all over again and again and again.

PCP? Mugs game...

It's not our fault you can't afford a new bike so don't take it out on us.

That makes no sense at all directed at someone that (quite sensibly) avoids hiring new cars/bikes via finance.

swerni said:

I thought this corner of PH was free of bellends.

I feel such a mug letting the dealer pay the £2500 deposit for my Africa Twin and then all the payments being interest free.

Sounds like a very special dealer who is practically paying you to take the bike and won't be making anything on the deal at all.


Dealer gets paid by the finance company for the bike so of course they make money plus, if they are taking a bike in p/x you prolly not getting as much as you would like meaning they will sell it on at a higher price and make more money !!

I did PCP with Pure Triumph Woburn a few years ago ( stupidly ) on a new Speed Triple 94R ....got over excited about the bike after a test ride and just sat down and did the pcp finance, got accepted and rode off on my shiny new Speed Triple with not a care in the world until after a week or so when I sat down and thought about what I had done and how much money I had lost on my practically paid for Tiger 800 that I chopped in to get the 94R.

The end of the 3 years came last year and as I was starting a business I needed a decent car so thought, ok. I won't buy the bike, I will return it to Triumph and that will be that. Only it wasn't, they weren't interested in taking the bike back despite me saying we had a contractual agreement of which I kept my side and part of that agreement was that I pay the balloon payment, p/x it and carry on with a new bike or return the bike and end the agreement. They said, oh, we are not buying any bikes at the mo as our showroom is full and that was that! I should have taken it further but my local Ford dealer in Leicester who I have a great relationship with offered to buy the bike off me and clear the balloon payment, which they did. I then bought a Ford Focus from them.

I'm sure PCP is good for some, but be very careful. I didn't think about what I was doing and lost a load of money and ended up with no bike out of it all.

[tedblog]

I dont mind pcps at all if it right for me, as some bikes are now £20k upwards its a lot to finance so pcp deals work. You only have to look at the fireblade offer , £99 a month interest free £2700 deposit then hand it back after 3 years?
If you want to keep the bike after the term then you can but the final payment is always cheaper than they would have it on the forecourt for and you know how its been looked after?
Also with a pcp if you have paid 50% back including the final payment you can hand it back early with no penalties

[crofty1984]

I always like to own my bike because I tend to like older bikes and mess around with them. But I can definitely see why people go for PCP deals. At some of the deals out there, if you were going to buy a new bike anyway it's a no-brainer. Especially if the amount "lost" to PCP is the same as the depreciation. I'd be tempted to look to see if there's any deals to be had on 650 interceptors next year. That's probably the only bike I'd buy new.

[Daniel T]

i bought it outright so i have something to show at the end.
i put £1000 down, loaned the rest and paying £100 pm for 3 years.

but the bike is mine...for ever!

[tedblog]

Daniel T said:

i bought it outright so i have something to show at the end.
i put £1000 down, loaned the rest and paying £100 pm for 3 years.

but the bike is mine...for ever!

Read the above post . To have the bike forever you have pay for it all .
At £4600 a pcp isnt worth it and yes you would buy outright.
But a £20k bike is a different matter

Edited by tedblog on Tuesday 19th November 15:37

[kennydies]

there is a third option. Take out a 24 month interest free credit card and buy the bike on that...

[tedblog]

kennydies said:

there is a third option. Take out a 24 month interest free credit card and buy the bike on that...

Good idea but they limit the amount you can pay by credit card. It can be quite low?

Edited by tedblog on Tuesday 19th November 15:53

[Rawwr]

Daniel T said:

i bought it outright so i have something to show at the end.
i put £1000 down, loaned the rest and paying £100 pm for 3 years.

but the bike is mine...for ever!

You know that PCP is a Personal Contract Purchase, right? It's not a lease, it's not a rental, it's not some sort of trap, it's just like a traditional Hire Purchase arrangement but deferring part of the purchase to the end of the term. Then again, you appear to think using Hire Purchase is 'buying outright' and you get the terms 'loaned' and 'borrowed' confused so maybe the fast-paced world of consumer finance isn't for you?

I suspect this post will not be popular.