I bought my 2013 Bonneville out right. It was 18months old and I always make sure someone bar me takes a good hit. At the time the going rate was £5500+ I paid an embarrassing £4400 for what then was a new bike still with around 3k miles. I’ve just been offered £4100 in px for summat else, now that is good depreciation, (if I took it) £300 loss divided by 5yrs, works out at around £5 per month with no ‘balloon’ to pay!! And no it’s not a one off as I always manage to find bargains.
Michael O Buy the bike is my way. If I don't have the money I don't have the bike. That way it's my bike and I can do what I like. All these deals you have to give it back as it left the show room and you can be sure they will find faults that you have to pay for. Or even if you write the bike off God forbid you still have to pay. Regards Joe.
Depends a lot on the age and condition of the bike too. Bikes depreciate quickly because unlike cars, they are not that expensive which means more people can afford to buy new with outright cash. If you plan to keep the bike for long/some time then a nearly new one on cash purchase or even a personal loan is worth considering. If your intention is to dispose it after couple of years and then move on to another one then a PCP might be able to get a good deal when you do switch. Good luck.
I have a pcp, based on the deposit, monthly payments and balloon it will cost me £425 more than paying cash Triumph were offering £500 for bits and bobs, I managed to get that as part of my deposit So 7000 miles a year (first bike inexperience, Ive only done 5000 in 18 months) £84 per month, £3850 balloon Unless I can repeat the super deal I won’t use PCP again interest-free credit card gives you more flexibility
If your looking to purchase, look at P2P loans. (Person to person) I used a company called Zopa, much better interest rate than banks/finance/PCP. Banks don't make money, normal people who each lend you £20 get the interest. Great scheme's. Arranged on my phone in 20 minutes and money in my account in a couple of days. So much easier than finance or bank loans. PCP warning, my mates Audi just lost £20k in 18months, had to downgrade massively to get another car without putting a massive chunk of money into a new deal. Depreciation is killing the 2nd hand car sales industry, expect to see some big dealers go under in the coming year.
