your only here once and when your dead your dead that's why I went for the SP2, now the hard bit £149 a month and to put £250 away each month to pay the balloon off.
Oh I treasured the days when £250 a month for three years used to pay the bike off. I have never done PCP it still doesn’t sound a great thing to me.
I have been Thinking of renting a new sp myself, £99 a month and give it back at end of 3 year term and keep my hard earnt invested for my retirement, never done this pcp renting thing, are there any pitfalls? Just after a SP for road as thinking turning the R1 into dedicated track bike so don't need to buy new blade as will keep std just for road, apart from tail tidy and end can, send like a bargin to rent for just £25 a week
Yep, in your view. But there are those who believe in reincarnation which means that I could come back as an invisible member, sort of like @Diane piggott and haunt you all .
You don't own the bike u till the balloon payment is paid off, if you go over the mileage or don't look after it u may be in negative equity. But I pick my SP tomorrow and I intend paying it off at the end
I wouldn't pay if off, if I was going to keep I would buy cash first (cheaper to own) or HP (cheaper again to own), PCP seems good for renting it for 3 years and giving back imho So as long as you keep within the mileage and keep in good order there will be NO extra payment at 3 years? £1000 deposit and £99 a month for 3 years is only £4.14 per day, seems like a good rental price? sorry for the questions, I have not used pcp before and dont want to get stung
The current deal is interest free, I haven't got the monies to buy outright but will have by the end of the term so to me it was a no brainier. Exactly you have three options at the end hand it back and walk away ( as disscussed mileage and condition) trade it in against another new one, or pay the balloon payment
And of course that's the difficulty many face; to be able to stump up an immediate 12 - 15 grand or whatever. The best plan is the one that works for each individual. I have paid some heavy interest in my time, but to have the product in hand it all seemed well worth it.
@SimonRR.... I bought mine on pcp over 3 years, here's the maths...... Traded my bike in for 5,600, the deposit was 3,400, leaving me with 2,200. I got the dealer deposit contribution of 1000 as well, which I chose to keep as cashback leaving me a total of 3,200 This went into a separate account that I use to pay off the 99 per month payments of which there are 36. Which means I don't technically pay anything for the first 32 months..... Just need to pay the last 4 payments. At the end of the three years I'll probably trade it in against the new V4 if one does materialise. I've never kept a bike for more than 3 years anyway and the lure of a new one is always to much to resist against getting a 10 plus grand loan (with interest) to pay off the balloon on a 3 year old bike. All depends how much I'm still in love with the bike and what the market value is at the time I suppose..... We shall see, but for me the pcp route has worked out very well. Congrats on the new bike @Vendy
Good analytical report @PauloHRC . It seems as if there can be a lot of variables between different deals, but you've really ended on the good end of the stick with yours. A no brainer as you might have once said. I'll get the 'V4' first and let you know all about it!! Whatever 2020 has in store I'll probably be a candidate for. @Lozzy wants my Castrol, so that'll give me an instant £7500 head start towards the newy.
The only negative with PCP for me is...... Its makes me ride more conservatively. Only a bit mind, you just always have that niggle in the back your that you need to keep this bike in tip top shape ready for when you hand it back. With a bike you own outright there's less to worry about, if you bin it...... Its doesn't really matter as there's no finance to worry about. Track daying a bike on PCP is a precarious prospect! I'll probably do it though...... Now I've got Gb covers and I might get some Chinese fairings too...... All in the name of damage limitation
Ooh, strongly disagree with that, but I'm a non-believer in those whopping big Red 'X' things!! I own mine and I still fear losing it (them) in aggressive cornering despite full comp on most bikes. In fact, perhaps like most of us, I have more fear of damaging the bike than of damaging myself. I don't ride conservatively in open areas. In fact, there's occasions I'd have my butt nailed to a prison cell for some of the things I get up to. Our thirst for excitement frequently displaces our sense of rationality.
Given our age gap...... I can pretty much say, my Conservative...... Your Conservative, and 30 mile loop limit, are worlds apart Also the post clearly states a fear of damaging the bike...... I don't care about me!
I can see what PauloHRC is saying though Nigelrb, If i dump my R1 I can fix in my own time, or just break it and sell it, if its pcp I wouldnt be allowed to, so I "might" ride on Conservative, I of course, at my age I ride conservatively anyway track is another ball game although wouldnt want a PCP bike on there, just in case
