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Thread: BMW PCP should I ??

  1. #81
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    I got a GSA TE

    The dealer is miles away so I wouldn’t be using them again anyway to be honest as I always tend to use Jeffries
    People are more violently opposed to fur than leather because it's safer to harass rich women than motorcycle gangs

    2008 R1200 GSA {R.I.P}
    2009 R1200 GSA
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  2. #82
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    Quote Originally Posted by Rushy View Post
    Even when I pointed out to my best mate a few years back that I’d bought a fully specced 5yr old 42k mile S Type Jag in Jewish racing gold for less than the 1st years payment & deposit on the 1 yr old 19k mile Audi A3 1.6 poverty spec he was about to rent AND that I could therefore literally hand the keys to a complete stranger after 1 yr, walk away and I would still be in a better position financially....
    I am always amused to see comments about how you can buy something cheaper for (gasp) less money, and you therefore assume you've won! By that rationale, nobody would ever buy a new Porsche, Bentley, Range Rover, Audi or whatever because they could of course run around in a 5 year old S-type instead. However, being "in a better position financially" surely means you have more money to do what you want to do. If what you want to do is NOT drive around in a 5 year old S-type Jag (and frankly, who would...) then buying the Audi instead is a great example of how you could spend that money you were about to save.

  3. #83
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    Quote Originally Posted by Big Nick View Post
    Thought I’d update the thread even though I bought my bike a few months ago!

    I went PCP via the dealer which to be honest wasn’t too bad a deal and it helped secure me a good overall package with luggage etc

    I then got a bank loan that was nearer half the APR rate of the PCP and paid it off within the cooling off period

    When I pay the bike off when I retire in a couple of years, doing the switch will have saved me around £1200 in interest plus a rebate on the interest still left on the personal loan so maybe a £2000 total saving.

    The only downer is my monthly repayments are £80 a month more that they would have been on PCP
    Interesting ,

    I had a colleage who went to get a loan for a car, he was comming off PCP schemes which he's been on for the past 13 years

    His loan was turned down because he had the PCP for the car!


    If you got a better deal on a bank loan, why didnt you just go in with that and batter the dealer to get what you wanted?

  4. #84
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    Quote Originally Posted by Santa-2512 View Post

    If you got a better deal on a bank loan, why didnt you just go in with that and batter the dealer to get what you wanted?

    Cash really isn't king. They make their money on the finance/PCP. You MAY get lucky and get a decent deal but the way he has done it seems to be the best way nowadays.

    I hadn't realised PCPs had been going 13+ years

  5. #85
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    Quote Originally Posted by FlyingPanda View Post
    I am always amused to see comments about how you can buy something cheaper for (gasp) less money, and you therefore assume you've won! By that rationale, nobody would ever buy a new Porsche, Bentley, Range Rover, Audi or whatever because they could of course run around in a 5 year old S-type instead. However, being "in a better position financially" surely means you have more money to do what you want to do. If what you want to do is NOT drive around in a 5 year old S-type Jag (and frankly, who would...) then buying the Audi instead is a great example of how you could spend that money you were about to save.
    I would! Audi, BMW etc used to be aspirational in the 90s, now common as dog shit. S type remind me of jags of old and in my opinion a better looking car although maybe not as reliable.

    The point is that it does not matter which car is "purchased" it has to be better to own it then rent it if the total cost of ownership is lower. I suspect it was the fact that the Audi was a year old and look at me i am doing really well. Personally I could not give a flying fuck about how old cars are or worth. I just want something comfortable that when i press the button it starts and is reliable. I drive and own a 5 year old Ford Mondeo Titanium. I could go and buy most brand new cars outright but i have no desire.

  6. #86
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    I got a really good PCP deal the first time round on my 2012 RT i.e. very low interest rate, deposit contribution and also a bit of a discount from Allan Jefferies.

    Second time around I was too eager and I wish I hadn’t used it for my 2014 GS LC. I just looked at the affordable payment rather than the whole package.

    I paid the balloon payment at the end of the agreement and have been PCP free for two years. I do keep looking, but it’d be a bank loan next time as the interest rate is less than 3% APR at the moment.

    One thing I have noticed is that the sales guys at Allan Jefferies completely lose interest in trying to sell you a new bike once you’ve escaped the PCP trap. I guess they know that someone who has escaped the PCP trap isn’t going to be daft enough to enter into another PCP agreement...

  7. #87
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    “I just looked at the affordable payment rather than the whole package.”


    I think that must be the case in the majority of PCP deals - that is why ‘almost new’ private sales struggle.
    If I am ever on life support - Unplug me......
    Then plug me back in..........

    See if that works .....

  8. #88
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    Quote Originally Posted by Blackal View Post
    “I just looked at the affordable payment rather than the whole package.”


    I think that must be the case in the majority of PCP deals - that is why ‘almost new’ private sales struggle.
    You wouldn’t do that with a Multistrada. I was quoted £460 a month over a 2 year deal yesterday.

  9. #89
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    Quote Originally Posted by Blackal View Post
    “I just looked at the affordable payment rather than the whole package.”


    I think that must be the case in the majority of PCP deals - that is why ‘almost new’ private sales struggle.
    The price of used bikes at BMW dealers also makes a new bike look very appealing when you can have a brand new bike for a comparatively small premium.

    I quite fancy an R1250RS and I can buy a new base spec model for £12100 compared to a two year old R1200RS Sport SE for £11500 at a BMW dealers. I’d rather spend £600 on a new bike as I don’t need the gadgets on the Sport SE.

  10. #90
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    Quote Originally Posted by sven View Post
    The price of used bikes at BMW dealers also makes a new bike look very appealing when you can have a brand new bike for a comparatively small premium.

    I quite fancy an R1250RS and I can buy a new base spec model for £12100 compared to a two year old R1200RS Sport SE for £11500 at a BMW dealers. I’d rather spend £600 on a new bike as I don’t need the gadgets on the Sport SE.
    Its really down to what you want to do, if you want a cheap way to get a bike and not planning to continue with PCP - its a clever way to get a bike for relativly low monthly payments , but

    but you need a sizeable deposit up front

    You just have to be aware that this is not going to be a 3 year bike and you will have a lump sum at the end , although if you have a decent CC or good credit, it shouldnt be a problem

    its when you add all the options, have no deposit & the mean to clear the lump sum at the end, you could get trapped in a PCP spiral

    The other way would be a loan at 2.8% and spread over 5 years

  11. #91
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    Quote Originally Posted by Santa-2512 View Post


    If you got a better deal on a bank loan, why didnt you just go in with that and batter the dealer to get what you wanted?
    It was easier and quicker and the bike was one of the last ones I could find.

    Dealers seem to prefer finance than going in with cash on new bikes and I actually managed to squeeze a bit more out of them for my part ex and got nationwide delivery thrown in as well by going with BMW Finance.

    After doing more thinking about my finance options I decided, as it’s my intention to keep the bike, the total amount payable was the key factor.

    I nearly halved the total interest payable so was a happy bunny going the route I did.
    People are more violently opposed to fur than leather because it's safer to harass rich women than motorcycle gangs

    2008 R1200 GSA {R.I.P}
    2009 R1200 GSA
    2013 F800 GS
    2018 R1200 GSA Rallye

  12. #92
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    I’m doing PCP with an EVO scooter . Low deposit and ok monthly rent. The unknown is what it will be worth in 3 years with 18000 miles on it , as most do 2000 a year . Can’t wait to pick it up in March 😎I’m allowed 6000 a year which is what I do on the T Max so no penalty 😎
    You Soft Southern Jessy

    My Glass is half Full

  13. #93
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    [QUOTE=

    Dealers seem to prefer finance than going in with cash on new bikes and I actually managed to squeeze a bit more out of them for my part ex and got nationwide delivery thrown in as well by going with BMW Finance.

    .[/QUOTE]

    This is what i expected when i bought mine from Jefferies , but i got a decent discount and finance wasn't mentioned once. No pressure , made a nice change.

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