PCP deals for motorbikes?

[Fats25]

moanthebairns said:

I wouldn't touch a pcp with a view to actually owning the vehicle at the end of the pcp deal as the figures i looked at your screwed over a personal loan say.

You have actually hit the nail on the head here and something no-one (including me) has said yet. Don't every use PCP to buy a car. Use PCP to lease a car. Is a different mentality but you have to remember to hand the keys back in at the end, and never think of it as your car.

Would be the same with a bike, you can never think of it as yours, I think that is partly why it would not work for a bike for me, as well as not being financially viable.

These horror stories above of modern cars, especially those with no warranties scare the hell out of me. Especially as I am sitting here with £25k+ of cars on the drive, that I could have to put in the bin for some spurious issue.

To the person that asked re the extended warranty - I have one, and it costs approx £500 per year for the level of cover I have on my particular car. I have claimed 5 times in 2 years, and managed to get everything bar the first £50 for the claim paid for. However it is a headache every time, and they try to squirm out of it. To be fair when I say "they", it is predominantly the Dealer, rather than the warranty company that squirm. Remember there is a fair usage policy dependent on age and mileage of the vehicle as well, where the warranty company will only pay a % towards parts - so typically only works well from years 3-5 of a vehicle.

So the extended warranty does give some piece of mind, but not the same as a dealer warranty on a car less than 3 years on a PCP deal.

[Gas1883]

I’m seriously considering a pcp , not had a bike for 20+ years due to mainly working away ,5/6 days , kid , last bike spent 99% of the time in garage doing nothing .
Now circumstances have changed & that bug to have a bike hasn’t gone away ( well I think it hasn’t ) , so I’ve never had a pcp ( always paid cash ) but I believe it would be easier to upgrade in a year / two if I get back into bikes , or if it doesn’t work out easier to get out of .

[hiccy18]

I PCP'd a bike after a similar length of time away, was cheap and easy to get into, as the bike was cheap the payments were trivial and it was easy to move on when I wanted something more capable.

[Gas1883]

hiccy18 said:

I PCP'd a bike after a similar length of time away, was cheap and easy to get into, as the bike was cheap the payments were trivial and it was easy to move on when I wanted something more capable.

m
Thanks , confirmed my thinking pcp is the way to go , will have a wander round a few dealers & see what pcp deals are on offer .

[AceOfHearts]

Gas1883 said:

Thanks , confirmed my thinking pcp is the way to go , will have a wander round a few dealers & see what pcp deals are on offer .

My local KTM / CF Moto dealers are getting heavily subsidised PCP deals from KTM on some bikes, so maybe worth a look. There were a few at 0% Apr!

It was Gear4 in Peterborough

[hiccy18]

AceOfHearts said:

My local KTM / CF Moto dealers are getting heavily subsidised PCP deals from KTM on some bikes, so maybe worth a look. There were a few at 0% Apr!

It was Gear4 in Peterborough

I was going to mention that, KTM are having a summer promo with significant discounts and cheap/zero interest, which of course is important when talking finance.

Suzuki have some low-ish rates too right now; I purchased an SV650X a few years back, it was a few hundred down, £60 a month and, when I decided to trade in 32 months later, the residual cleared the outstanding balance and paid the deposit on the next bike (low rate HP). The trade are obviously well versed at trading in bikes with outstanding HP.

People pay more a month on phones and telly, I feel like a motorbike is a hell of a lot more for the money!

[crofty1984]

bogie said:

Prof Prolapse said:

I still don't understand any reason you would go for a PCP deal over a loan?

They cost a damn sight more, and you're under massive pressure to either give the bike back at the end, or to buy another new one.

The dealers favourite, the PCP deal, that defers a lot of the capital, so it makes it appear more affordable...instead of paying back £300 a month its only £150 a month ....but you are just renting really , paying enough to cover the depreciation

then you are stuck in the 3 year upgrade cycle that keeps the car industry afloat these days

May as well give the monthly payment to a bike hire club and have a fleet of superbikes at your disposal for 1/6 dozen weekends per year.......

I went PCP when I "bought" my eGolf. I appreciated the face that I was likely to give the car back at the end so all the money I put in was gone forever. I did the sums and came to the conclusion that my £175 per month fuel and tax bill for my old diesel was gone forever money. But against a 200pm PCP for an extra £25 I could drive round in something a bit nicer, so it worked out for me.
Everyone's circumstances differ though.

[AceOfHearts]

Talking of interesting PCP deals again, Ducati are offering a 2 year 0% '50/50' deal on certain bikes.

You pay 50% up front deposit, no monthly payments then pay the final 50% at the end of the 2 years, or trade the bike back in like a usual PCP deal

[KobayashiMaru86]

I'd HP a bike and did for my Triple. Not sure I'd want to PCP but there's not much about lately that's worth it. I PCP'd the GR86 as it was a decent deal and where cars are now, the likes of we won't see again. I intend to buy it at the end.

[Skyman]

AceOfHearts said:

Talking of interesting PCP deals again, Ducati are offering a 2 year 0% '50/50' deal on certain bikes.

You pay 50% up front deposit, no monthly payments then pay the final 50% at the end of the 2 years, or trade the bike back in like a usual PCP deal

Yep. A no brainer really, imho. It would be rude not to.

[moanthebairns]

Skyman said:

AceOfHearts said:

Talking of interesting PCP deals again, Ducati are offering a 2 year 0% '50/50' deal on certain bikes.

You pay 50% up front deposit, no monthly payments then pay the final 50% at the end of the 2 years, or trade the bike back in like a usual PCP deal

Yep. A no brainer really, imho. It would be rude not to.

I have to admit. That's a very attractive way to sell a PCP on a bike.

[P675]

AceOfHearts said:

Talking of interesting PCP deals again, Ducati are offering a 2 year 0% '50/50' deal on certain bikes.

You pay 50% up front deposit, no monthly payments then pay the final 50% at the end of the 2 years, or trade the bike back in like a usual PCP deal

What's the advantage of this? Would a usual 2 year pcp have you pay over 50% of the total by the end?

[Crudeoink]

P675 said:

What's the advantage of this? Would a usual 2 year pcp have you pay over 50% of the total by the end?

My initial thoughts were you could utilise a modest credit limit on a 0 credit card. Take the SuperMono for example, pay 6k on credit and pay it off at 250/month for 24 months and do it all again for the balloon. Get a 12k bike for 250/month over 48 months. Much cheaper than the 6.9% Apr Ducati are offering even if the credit was facilitated by balance transfers over a straight purchase

[Skyman]

P675 said:

What's the advantage of this? Would a usual 2 year pcp have you pay over 50% of the total by the end?

No interest is payable, perhaps?

[P675]

Well yeah but most people don't have the chunk of cash anyway which is the usual reason for PCP, the credit card option could work I suppose. Shame they don't do something in-between a streetfighter and multistrada.