Hi All, My PCP is about to end, never had one before so unsure what the best course of action is. It’s a Speed Triple RS 2018. I had allowance for 5k miles a year and I’ve only done 6k total. Bought a Steamer which to be honest I prefer to ride bizarrely. Anyway, will the dealer offer me owt if I don’t start another PCP or just take bike back? Am I gonna get more money paying the balloon (7k) and selling myself? Is it worth the hassle? Any info gratefully received!
Given you have covered less miles than expected, then your bike will be valued higher than the GFV (guaranteed future value) that was on your paperwork. As well as contacting your supplying dealer, I'd also contact other dealers up and down the country and see what they offer for your bike. Also check WeBuyAnyBike and see what your bike is currently trading at. In addition, private sale is also an option if you clear the finance balloon first. Basically, you have plenty of options so shouldn't expect to get screwed by your supplying dealer as you're in a favourable position to negotiate a good way out. If you decide to get another bike then you should have decent equity to carry over as a deposit into your next bike. Hope this helps.
You are in a strong position at the moment if you want to see back to the dealer. Most are very short of good quality low mileage stock so ask the local dealers what they are prepared to offer, don't just hand he bike back it will almost certainly be worth more than your balloon payment. Best of luck!
Thanks guys that’s reassuring to know. Currently offshore so will get on the case when I’m home. I’ll update this thread when I get info.
Had a quick look on auto trader, an rs with 4500 miles is £8,900 from a dealer. If your balloon payment is 7k then you should still be able to sell privately at £8,500. This gives the buyer a bit of a discount for not buying at a dealer. I know from mates in the trade that they want to make at least 1k off a trade in or buy in so even if you did sell to another dealer without buying a new bike should get £7,500. Many options!!
Little update. Got offered a decent price above the settlement figure off the supplying dealer. About 1k shy of private sale figure but immediate deal which I actually favoured at the time.
Steamer is an 885 Tiger based on the carbed T300, pre 885i which are injected. Nice bikes but top heavy
