We are currently looking at building another house so I’m looking at discarding as many unnecessary monthly payments as possible. I took my 2018 out on 0% PCP and contacted my local dealer to enquire if they could sell it on my behalf. They told me that they have 2 x 2018 ex-demo SPs that they have advertised at £13,995 that they can’t shift. Selling at that price would leave me in considerable negative equity so it would actually make more sense to see out the PCP contract and hand it back after the 3 years. I’m glad I didn’t buy the bike outright like I had been considering! Anyone else in the same boat?
This exact situation has been widely discussed on @gary1966 thread: https://www.1000rr.co.uk/threads/out-with-the-old-in-with-the-new-sp2-woop-woop.37079/ Disastrous situation to be in, despite us acknowledging we'll take a hit of a few grand on a new bike but not such a hit that it floors us. I think you're in a no-win situation because as has been discussed, why would a purchaser go second-hand when new is similarly priced? I feel for your situation and can't offer any constructive remedy.
Don’t get me wrong, I love the bike. It just makes more sense to keep it for the remainder of the term rather than losing a couple of K now and have no bike for the next 2.5 years. I will also be open to buying it outright after 3 years as long as the market value isn’t considerably less than the £11K final value. I’d say prices will stabilise once the 0% deals with deposit contribution end. The plan is to stay mortgage free so another toy may have to go to achieve this!
Craig’s honda offered 10k for my SP with 1300 miles 2017 model, then had a few offers 11/12k but ended up getting £13250 but that left me in negative equity of £750 so decided to take the offer and pay the £750. Then started a fresh on a SP2 hopefully this won’t drop like a stone? The thing is the balloon payment is less than what was on the SP? I do aim to pay for it at the end term but I have said that several times in the past ha ha your only here once so enjoy it
Only people that gain from a 1yr old SP is a cash buyer, anyone financing and paying £3k interest brings it inline money wise with a new one on 0% Once/if this new offer goes everything will go sensible again
What is the offer everyone is on about lately? I've seen 0% deals but they still require a hefty deposit up front.
Yeah now I understand! My local dealer is asking minimum a couple of grand deposit so that's incredible. I've done pch on a car before and was great but I think i'd be more nervous with a bike when coming to give it back and not paying off the balloon payment on pcp incase of getting stitched on the bikes condition (stone chips etc). Who is that deal with?
John Banks Honda are doing £1149 deposit and £149 per month, theres also Dobles were I got mine I had to put a bit more in as I had negative equity on my out going SP
Thanks but it's the deal Shutty has mentioned i'm interested to know where it's from as it's an amazing deal if it's still available!
Coventry on ebay were doing it but Padgetts matched it... you can put whatever deposit you want down from £299 upwards if you ask
Guess we'll see @Sp0oner out the front of Padgetts first up on Monday. If you do the deal, just make sure they give you the right bike!!
Lol sadly not as mine didn’t sell and i’ve not re-advertised and i’ll not be putting another new or newish bike in my garage after what’s happened to mine during Winter, not unless it’s got a black/painted frame anyway.
So the day has arrived. A basically new SP for sale at less that the same GFV (guaranteed future value) of my PCP contract, which runs until August 2021. Thank goodness I didn’t buy mine outright.
