Crazy Price Norton Commando PCP Deal

[richh]

That's the part I struggle to get my head around.

Aren't they just making a headache for themselves / the dealers in two years time?

It's not like they have a massive model range is it?

 

[Easy_Rider]

If i only had just the one bike, i think i would of gone for this deal.
It's a free bike for 2 years as it would lose more in value in the first 2 years than you would be paying to PCP it.

 

[Mr Bean]

Did I read on here that if the bike's retail value at the end of the 2 year period is less than the balloon payment, the renter needs to make up the difference - in effect, there is no guaranteed final value.

If so, the finance company (or whoever decides) is hardly likely to put a high value on it.

 

[richh]

No I don't think that's the case.

You can simply return the vehicle rather than pay anything else. Unless you've gone over the 4,000 miles total allowance. But the extra charge isn't extortionate @ 10p per mile.

 

[Devon]

Seems Norton are so desperate they are basically giving their bikes away with this deal.
I note Norton posted losses of £38.2m for the year to March 31, 2024, having also lost £29.6m in the prior 12 months.
I presume the Indian Company that owns Norton is in the process of moving production to India, with a new model line to benefit the Indian market. There is no way they are going to make the company profitable in the UK.
I sold a GTR1400 to an independent dealer from south Devon on Saturday and he confirmed what most people already know: most dealers are barely hanging on, and many have already gone under.

If you want the use of a new M/C for the price of a daily cup of coffee, be quick, because it will never happen again.

 

[GSite]

Did I read on here that if the bike's retail value at the end of the 2 year period is less than the balloon payment, the renter needs to make up the difference - in effect, there is no guaranteed final value.

If so, the finance company (or whoever decides) is hardly likely to put a high value on it.

The PCP contract states the future value which is fixed unless you do something to adversely affect it's value such as fail to service it, cosmetically challenge or modify it. Most folks who look after their bikes won't have an issue, even if you exceed the agreed mileage just pay the 10p per mile penalty.

 

[richh]

It’s as if they have to lose money for some reason.


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[Deleted account 251212001]

there is a thread about these on piston heads, Judd Nottingham had a pre reg one with 120 odd miles on, it was £20 deposit and £20.80 per month.

 

[Nice 'n' Fat]

It’s as if they have to lose money for some reason.


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Or show someone a full order book ?

 

[richh]

there is a thread about these on piston heads, Judd Nottingham had a pre reg one with 120 odd miles on, it was £20 deposit and £20.80 per month.

WTF!

 

[Easy_Rider]

The more i look at it the more i think its a great deal to be had.
I just wish i did not have more bikes than i can ride in the garage.

 

[Berin]

Did I read on here that if the bike's retail value at the end of the 2 year period is less than the balloon payment, the renter needs to make up the difference - in effect, there is no guaranteed final value.

If so, the finance company (or whoever decides) is hardly likely to put a high value on it.

No. It’s a guaranteed future value. If the bike is worth more at the end, buy the bike and keep it or sell it. If it’s worth less, hand it back and let the finance company take the loss.

That is, I believe, how all PCP works.

 

[Paul S]

So how does it work if for example you take one of these bikes on PCP, insure it as normal and then some scrote steals it.

Insurance company pays out the market value which may after say 18 months be only £7,000 - who pays the shortfall to the finance company

Guess this is when Gap insurance comes into play.

 

[Berin]

So how does it work if for example you take one of these bikes on PCP, insure it as normal and then some scrote steals it.

Insurance company pays out the market value which may after say 18 months be only £7,000 - who pays the shortfall to the finance company

Guess this is when Gap insurance comes into play.

Same as any finance deal. You owe the finance company the money.

 

[Easy_Rider]

On all the new bikes i have had (last one in 2012) i have always took out GAP insurance.
It paid off when i W/O my VFR1200F at 18 months old ( 8k from ins, 4.5k from GAP) Bike was £13,350 new. So if you do go for this deal, paying the extra for GAP is worth it for what you are paying for the bike each month. it worked out i lost less than a grand in 18 months of having the bike.

 

[richh]

On all the new bikes i have had (last one in 2012) i have always took out GAP insurance.
It paid off when i W/O my VFR1200F at 18 months old ( 8k from ins, 4.5k from GAP) Bike was £13,350 new. So if you do go for this deal, paying the extra for GAP is worth it for what you are paying for the bike each month. it worked out i lost less than a grand in 18 months of having the bike.

Is that with the insurance company or a separate policy?


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[Easy_Rider]

Is that with the insurance company or a separate policy?


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A separate policy. I think it cost me about £100 back then. it was worth it as the lady from the GAP was giving the insurance company hell as there offers were taking the piss. IIRC 5k was there first offer.

I do remember the bike sold on COPART for £1500. It was W/O because it ended up under water in a ditch which ran beside the road.

 

[GSite]

So how does it work if for example you take one of these bikes on PCP, insure it as normal and then some scrote steals it.

Insurance company pays out the market value which may after say 18 months be only £7,000 - who pays the shortfall to the finance company

Guess this is when Gap insurance comes into play.

GAP insurance policy wise for any finance deal. There are loads of providers that you can purchase from directly rather than go via the vehicle dealer. A 2 year policy with say a £10k shortfall cover will pay the difference between the full invoice price and the insurance payout. This is called a "return to invoice" policy and should be £150 ish.

 

[richh]

Some lucky swine got a bargain !

£500 total cost!


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[leadfarmer]

If there’s no nasty surprise hidden in the small print that’s gotta be the deal of the century