BMW PCP should I ??
- Thread starter Big Nick
- Start date
£11,325 for three years borrowing a TE Exclusive!
Too fucking much, considering how much the bloody things cost
And the best bit is that friends say to me “ I/we PCP it (bike/car) because we can’t afford to buy it “ !?!!?
I tell them I know exactly what they mean , I’m in a worse situation in that I don’t earn enough to be able PCP a new car/bike so I buy something I can afford instead...... it usually goes right over their head
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 he still thought he was getting a good deal. Even more so because the dealer was throwing in a key care policy and an Autoglym paint care package
Probably about two thirds of 11,325.
And the best bit is that friends say to me “ I/we PCP it (bike/car) because we can’t afford to buy it “ !?!!?
I tell them I know exactly what they mean , I’m in a worse situation in that I don’t earn enough to be able PCP a new car/bike so I buy something I can afford instead...... it usually goes right over their head
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 he still thought he was getting a good deal. Even more so because the dealer was throwing in a key care policy and an Autoglym paint care package
But yours was 5 years old, his was a year old. If that's what he wanted & that's what he could afford surely that's up to him?
I have 3 bikes & am hoping to buy a 4th & possibly a 5th this year. I work full time including evenings & weekends so rarely get to ride 2 of the 3 that I have & the one that does get used is my commuter scooter.
Now that makes no financial sense whatsoever but it's not always about what we need is it?
£9,200 in June 2021... get saving....
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Phatcat
Registered user
It's not all about the money boys!
Just ride and enjoy.
Just ride and enjoy.
It's not all about the money boys!
Just ride and enjoy.
Fair point. I guess we form opinions based on personal experience. The PCP thing just seems a lot of dosh when I consider what I paid for my GS LC..... Admittedly its wasn't new but still immaculate and, nearly three years later, probably still worth 80% of what I paid for it.
It's the contrast between what pcp man would spend (and still not own the bike..) and what I paid that strikes me as too much to stand.
2550+ (169 x 36) = 8364 . I can see why the 169 is attractive to some people though.
Phatcat
Registered user
PCP isn't for everyone, but I've had my last 2 bikes on one and it suits me.
You're a long time dead is my way of thinking. If you can afford it and you've weighed up the pros and cons , then why not ?
You're a long time dead is my way of thinking. If you can afford it and you've weighed up the pros and cons , then why not ?
Just out of interest does anyone know what the finance deals are like on the bmw approved used bikes?
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
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
What bike did you buy?
don't expect too many smiles from the sales team at the dealer as they will have lost the commission on the PCP deal which they may have factored into the deal..
best not drink the coffee!!!
best not drink the coffee!!!
Or trade the bike in in a year or two with them, as they will have you bent over the desk all lined up in a orderly queue.
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