Not sure if anyone has seen these artist impressions of the 2020 bike, images from a Japanese motorcycle magazine.
Sorry to pop the bubble (or balloon as it is in this case) but the information you were given was a little misleading. You can voluntarily terminate a PCP contract at the point where 50% of the total value has been paid. This includes the balloon payment. IE - if you got a blade on PCP at £20K and paid £2000 deposit and you kept it for 2 years of your 3 year agreement paying £200 per month (£4800), you would then have to pay £4200 to voluntarily terminate your contract or keep on paying your monthly payments until you reached the £10K mark (at which point your contract would have probably almost finished anyway). Sorry to be that guy.
Leave it with me....... I'm calling Honda finance today to quiz them over this. For them to tell me you can end the agreement exactly half way through is indeed misleading, if its not true. Maybe a training issue? Not sure why they would want half of the total purchase value though. My guaranteed future value is 10900, my bike was 18 grand new. So it would be worth more to them After 1.5 years than it would in 3 years.
It’s the law and is written into every PCP vehicle contract. Finance companies don’t like it because the value of the car can sometimes be more than the 50% so they lose money. If you could just tear up your PCP halfway through then everyone would be at it and no finance companies would be offering PCP. In the case of the current Blade where the values have nosedived early termination actually works in the favour of the finance company. IE - if you got one at £20K, paid £2K deposit and were 12 months into your 36 x £200 monthly payments (£2400) you’d have paid £4400 at this point so you’d have to pay £5600 in order to reach the 50% mark and voluntarily terminate your PCP contract. This works out in the finance company’s favour as the market value is around £13K so they make around £3K profit. Conversely it works in the buyer’s favour if you have a vehicle which is holding its value well. Voluntary termination won’t affect your credit score but it’s worth noting the finance company (Honda finance in this case I assume) may turn you down for future finance as there will be a black mark against your name. Voluntary termination is seen as not being able to afford repayments. Here’s some more info: https://www.parkers.co.uk/car-finance/advice/2016/pcp-car-finance-can-i-get-out-early/
Seen a few artist's impressions. Re your posted pics, they can stick the top one, but I would be a starter on the second one - despite my not being a 'wing' person.
Good info Gcon45, I have spoken with Honda finance this morning and you are whole heartedly correct..... And like a man in orthopaedic shoes, I stand corrected. This does not change the fact that the daft cow at Honda finance 100% informed me that if I wanted too I could end the agreement half way through the term.... Which is 3 years. The girl I just spoke to me confirmed what @gcon45 has said and asked me if I knew who it was that told me that? Not wanting to start a witch hunt I left it there and thanked her for her time Anyway I don't intend handing my bike back until the end of the 3 year term..... With a view to picking up the all new model
Wings on a street bike are absolutely ridiculous and serve no purpose at all other than to up the price of the model and act as another target for some fat lard arse to knock off squashing past at bike meets
I am pretty far away...if she winds up going to NYC, I will bring her a small gift to make amends, or I'll let her borrow the blade. That should work, right?
Sorry mate its an artists impression of what my new arse might look like.... Probably as accurate as Mr Taekwondos new Blade attempts above
Bring on the Wings I say........ Lozzy just steer clear of my front end as by the time I get the new blade, with your spam fritter ratio, you'll be knocking bikes down like domino's down at Matlock
Good work, Loz. Looks a lot like my Triumph. I particularly like the old phone handset on the top yoke!!
