PCP question....
Discussion
Hello All,
long story short, bought at Multistrada 1200s (2017 MY) from Metropolis Barnet. That close down, and i was refered to Vauxhaul, which has now also shut down within a year!! this has peed me off royally.
I'm only in the first year of my PCP contract, and in all honesty lost faith in the brand. Question is, how hard will i be hit for getting out of my agreement and getting another bike from a different manufacturer?
or am a stuck with having to travel 40 miles east or west to get my bike serviced?
long story short, bought at Multistrada 1200s (2017 MY) from Metropolis Barnet. That close down, and i was refered to Vauxhaul, which has now also shut down within a year!! this has peed me off royally.
I'm only in the first year of my PCP contract, and in all honesty lost faith in the brand. Question is, how hard will i be hit for getting out of my agreement and getting another bike from a different manufacturer?
or am a stuck with having to travel 40 miles east or west to get my bike serviced?
Sounds odd that you want to get rid of the bike just because the dealer closed. More likely it’s buyers remorse. You’ll probably have a chunk of negative equity to pay if you want to stop a year in.
You might find a dealer from another manufacturer gives you a good trade in price to sell you one of their bikes.
The “lost faith” phrase always makes me laugh, as if that entitles you to anything! It’s a bike not a religion!
You might find a dealer from another manufacturer gives you a good trade in price to sell you one of their bikes.
The “lost faith” phrase always makes me laugh, as if that entitles you to anything! It’s a bike not a religion!
It all depends on how much you've paid off versus how much someone is willing to buy it for. Request a settlement figure from your finance provider and then see how much you'd get for trading it in for another bike. It could go a number of ways:
- You paid a small deposit and small monthlies and have a larger settlement figure. Sale (or trade-in price) is less than settlement figure = negative equity.
- You paid a small deposit and small monthlies and have a larger settlement figure. Sale (or trade-in price) is the same as settlement figure = 'break even'.
- You paid a small deposit and small monthlies and have a larger settlement figure. Sale (or trade-in price) is more than settlement figure = equity in the bike to transfer to next PCP deal.
Obviously the deposit and monthly amounts paid influence this, the variables all change but you'll be in one of these three camps. Your situation is unique to you, so the only way to find out is to request the settlement figure and go through the motions.
- You paid a small deposit and small monthlies and have a larger settlement figure. Sale (or trade-in price) is less than settlement figure = negative equity.
- You paid a small deposit and small monthlies and have a larger settlement figure. Sale (or trade-in price) is the same as settlement figure = 'break even'.
- You paid a small deposit and small monthlies and have a larger settlement figure. Sale (or trade-in price) is more than settlement figure = equity in the bike to transfer to next PCP deal.
Obviously the deposit and monthly amounts paid influence this, the variables all change but you'll be in one of these three camps. Your situation is unique to you, so the only way to find out is to request the settlement figure and go through the motions.
king pain in the arse.
Maxheadroom said:
or am a stuck with having to travel 40 miles east or west to get my bike serviced?
Depends if you are planning on keeping the bike after the duration of the pcp. If you are planning on keeping it then may as well get it serviced by your trusty mechanic as you know the service will be done and done well. If not then I think it is better to stick to a main dealer service.I read my PCP contract only the other day there and was amazed how difficult it is to get out of. It costs me something like £4600 to avoid paying £1500. So I'd be trying to rekindle my love for the bike if I were you.
More helpfully, I was reliably told don't need to have your bike serviced by the manufacturer to maintain the agreement and/or warranty . You just need to ensure it's documented as serviced to exact same standards (something to do with competition fairness or something).
How you demonstrate this I don't know, presumably you have a checklist completed by the garage, and to demonstrate genuine parts and correct fluids were used and have this clearly stated on the invoice for when you return the bike.
I'd call Ducati UK, ask them what their expectations are to keep inside the contract, then find some local dealer who is willing/experienced in doing so.
More helpfully, I was reliably told don't need to have your bike serviced by the manufacturer to maintain the agreement and/or warranty . You just need to ensure it's documented as serviced to exact same standards (something to do with competition fairness or something).
How you demonstrate this I don't know, presumably you have a checklist completed by the garage, and to demonstrate genuine parts and correct fluids were used and have this clearly stated on the invoice for when you return the bike.
I'd call Ducati UK, ask them what their expectations are to keep inside the contract, then find some local dealer who is willing/experienced in doing so.
The finance house won't care less about you travelling a bit further to a dealer.
Unless you have warranty work that needs doing (or are desperate for a Ducati stamp in the book), there are closer specialists who can service them and keep the warranty intact. Or depending on which bit of London you're in, Ducati Proteam in Strood will come and pick it up and drop it back for you.
Unless you have warranty work that needs doing (or are desperate for a Ducati stamp in the book), there are closer specialists who can service them and keep the warranty intact. Or depending on which bit of London you're in, Ducati Proteam in Strood will come and pick it up and drop it back for you.
"Lost faith in the brand" 
The brand has nothing to do with the dealers shutting. It comes from Metropolis just being a terrible business.
If you've had a Ducati that has repeatedly failed and loads of problems then I can see you "losing faith in the brand".
Sounds like you've bought a bike and now regret buying one or aren't too sure about the monthly outlay. 40 miles for a service! God forbid! You've bought a Multistrada which is mainly bought by people who want to do big miles! I used to do a 50 mile trip commuting each day, what are you using your bike for, going to the corner shop?
When I bought my MV I would do a 220 mile round trip for a service. Next year I'm going to a dealer I trust. 500 mile round trip and a week/ weekend away for me.
Anyhow winding you up aside. If you decide to drop your PCP you will likely lose some money. It is situation dependent on deposit and monthly contributions, along with term of the agreement. I suspect unless you have hammered the bike in the salt through winter, it will be in good condition and with a FSH. You would get a better deal trading in for another Ducati, unless you can find another manufacturer that will match the agreed value from Ducati.
The brand has nothing to do with the dealers shutting. It comes from Metropolis just being a terrible business.
If you've had a Ducati that has repeatedly failed and loads of problems then I can see you "losing faith in the brand".
Sounds like you've bought a bike and now regret buying one or aren't too sure about the monthly outlay. 40 miles for a service! God forbid! You've bought a Multistrada which is mainly bought by people who want to do big miles! I used to do a 50 mile trip commuting each day, what are you using your bike for, going to the corner shop?
When I bought my MV I would do a 220 mile round trip for a service. Next year I'm going to a dealer I trust. 500 mile round trip and a week/ weekend away for me.
Anyhow winding you up aside. If you decide to drop your PCP you will likely lose some money. It is situation dependent on deposit and monthly contributions, along with term of the agreement. I suspect unless you have hammered the bike in the salt through winter, it will be in good condition and with a FSH. You would get a better deal trading in for another Ducati, unless you can find another manufacturer that will match the agreed value from Ducati.
I have to travel 3 miles to have my bike serviced and 2 miles for the car.
It's a logistical nightmare if I am being more bone idle than usual. A quick call to either and they will come and pick them up and return them to me so I can continue to lie on my settee wile being fed grapes by Mrs Nemesis.
It's a logistical nightmare if I am being more bone idle than usual. A quick call to either and they will come and pick them up and return them to me so I can continue to lie on my settee wile being fed grapes by Mrs Nemesis.
TimmyWimmyWoo said:
The main question is how have Metropolis gone out of business given how much they charge for everything?
Quite possibly! To be honest I never like the one in Vauxhall... shocking customer service in clothing and parts. Hardly surprised they have gone out of business, I was never going to part with any of my hard earned there again.
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