Discount on 1200 GS

[Markblox]

Hi all,
I am considering either buying a late second hand or new 1200 GS in late winter and recently read in Ride mag that because of great demand the prices of secondhand bikes are holding up v. well and with new ones the dealers are not discounting much/at all.
My questions are:
A, How much and what do BMW discount? ( what are your experiences)
B, Are the deals better in the winter? ( new and second hand)
C, What are the BMW finance deals like?

thanks, Mark

 

[Schtum]

A) Officially, they don't. You pay retail, take it or leave it. You may be able to negotiate something on luggage, other accessories and servicing.

B) See above.

C) Don't know.

 

[nadeem]

c- the finance deals seem to be pretty good on anything over 5k with BMW Finance at all dealers - I heard one of the sales people last week punting it out - think it's a flat rate of 4.9%

 

[Mouse]

When I bought my bike I seem to remember the rate sounded good on BMW finance, but the actual repayments were higher than a personal loan which had a "higher" rate. Difference between APR and normal interest I suppose, I don't really know, but the moral is, check the repayments before signing on the dotted line

 

[BBB61]

I think a flat rate of 4.9% is about double that when converted to APR. There are good personal loan rates out there. Off the top of my head, I know Nationwide have a single rate of 6.7% APR whatever the amount borrowed. I think that could be bettered by Cahoot and one or 2 others.

Bob

 

[MIKA]

Don't hold your breath trying to get a discount on a BM, they are few and far between. Second hand prices are very good for all GS's, probably because of the publicity from The Long Way Round in my dealers opinion. Finance is cheaper elsewhere, I got a loan through the internet for my GS last month at only 5.7% APR from Northern Rock which is half the price almost of BM. Just stick LOW COST LOANS into a search engine and look about for half an hour, guaranteed to save yourself a few quid over the loan period.

 

[big mike]

discount

ive orderred a new gs from john clarcks..excellent trade in, £350 discount and a good offer on finance if you need it..you have to borrow a minimum of £4000 over three years, this costs just over £120 a month and a total of under £400 intrest in 3 years

 

[JohnnyBoxer]

c- the finance deals seem to be pretty good on anything over 5k with BMW Finance at all dealers - I heard one of the sales people last week punting it out - think it's a flat rate of 4.9%

That's a crap flat rate @4.9%

 

[Professional Boxer]

Flat rate can be as low as 3.75%

Now for Hire Purchase that is a very good rate, considering that it gives you far more protection than a personal loan for 3 reasons:

1) The loan is only secured against the goods, so if you finances turn to sh*t all you risk losing is the goods the loan is secured against- not your house & all your assests as is the case for a personal loan.
2) The HP company is jointly & severally liable for the goods I.E. if you have a problem with the goods you could seek redress via the HP company, a personal loan loan company will just say 'tough'
3) when you have paid over 1/2 the loan you can simply hand the keys back & terminate the contract with no penalty, try this with a persoanl loan & you will find yourself in court.

 

[JohnnyBoxer]

Flat rate can be as low as 3.75%

Now for Hire Purchase that is a very good rate, considering that it gives you far more protection than a personal loan for 3 reasons:

1) The loan is only secured against the goods, so if you finances turn to sh*t all you risk losing is the goods the loan is secured against- not your house & all your assests as is the case for a personal loan.
2) The HP company is jointly & severally liable for the goods I.E. if you have a problem with the goods you could seek redress via the HP company, a personal loan loan company will just say 'tough'
3) when you have paid over 1/2 the loan you can simply hand the keys back & terminate the contract with no penalty, try this with a persoanl loan & you will find yourself in court.

To clarify more specifically..........

1) The loan is only secured against the goods, so if you finances turn to sh*t all you risk losing is the goods the loan is secured against- not your house & all your assests as is the case for a personal loan.

Partly true, yes it is secured against the goods, but that can be both bad and good.
Most Personal Loans are UNSECURED,so you're not going to lose your home

2) The HP company is jointly & severally liable for the goods I.E. if you have a problem with the goods you could seek redress via the HP company, a personal loan loan company will just say 'tough'

Not entirely correct, you have to start your own legal proceedings and the HP company MIGHT act as an 'expert witness', but most try to avoid if at all possible.They will not initiate legal proceedings for a third party ie the hirer, only themselves

3) when you have paid over 1/2 the loan you can simply hand the keys back & terminate the contract with no penalty, try this with a persoanl loan & you will find yourself in court.

True, but why would you as you should have plenty of equity in most cases if you've paid 50%, to sell and pay off the debt

 

[Professional Boxer]

1) The loan is only secured against the goods, so if you finances turn to sh*t all you risk losing is the goods the loan is secured against- not your house & all your assests as is the case for a personal loan.

Partly true, yes it is secured against the goods, but that can be both bad and good.
Most Personal Loans are UNSECURED,so you're not going to lose your home
The loan is secured against the person so all personal assests are up for grabs if they take you to court, if you have no assests but your house then it goes !!!

2) The HP company is jointly & severally liable for the goods I.E. if you have a problem with the goods you could seek redress via the HP company, a personal loan loan company will just say 'tough'

Not entirely correct, you have to start your own legal proceedings and the HP company MIGHT act as an 'expert witness', but most try to avoid if at all possible.They will not initiate legal proceedings for a third party ie the hirer, only themselves
It is correct as stipulated in the consumer credit act!!!

 

[JohnnyBoxer]

I work in the banking and finance industry and I know most banks would not go to court to evict somebody for an unsecured personal loan............it would be written off or other assets pursued. Most judges would not rule in favour of a bank, to evict and repossess somone's house for repayment of an unsecured personal loan either.
If the personal loan was secured against property, then that's a different matter, but it's unwise to enter into that arangement for a sub-£10k - £12k loan for a bike

I was only putting a 'real-life' perspective on your comments, that's all - knowing you too have experience of matters as a dealer sales person

 

[Professional Boxer]

end of that one then

 

[Steptoe]

1) The loan is only secured against the goods, so if you finances turn to sh*t all you risk losing is the goods the loan is secured against- not your house & all your assests as is the case for a personal loan.

Partly true, yes it is secured against the goods, but that can be both bad and good.
Most Personal Loans are UNSECURED,so you're not going to lose your home
The loan is secured against the person so all personal assests are up for grabs if they take you to court, if you have no assests but your house then it goes !!!

2) The HP company is jointly & severally liable for the goods I.E. if you have a problem with the goods you could seek redress via the HP company, a personal loan loan company will just say 'tough'

Not entirely correct, you have to start your own legal proceedings and the HP company MIGHT act as an 'expert witness', but most try to avoid if at all possible.They will not initiate legal proceedings for a third party ie the hirer, only themselves
It is correct as stipulated in the consumer credit act!!!

Now , is that a company man, or not . Wonder what would happen if he had to work in the real world

 

[Markblox]

Well, thanks for all your answers. I think I'll wait until the depths of winter to buy my first bike for about 13 years (unlucky?). I don't get my licence back until the 7/2//06! Lots of speed cameras and all five were either 36 or 38 mph. Magistrate made me out to be arch villian.

 

[Professional Boxer]

Now , is that a company man, or not . Wonder what would happen if he had to work in the real world

Define real world.!!!!

 

[clarkey]

Discounts are available.

I took delivery on my 1200GS on 1st september. List price came to about £10,700 with full luggage, ABS, heated grips, chrome exhaust.

I was offered a deal of my 03 Multistrada plus £5750. As the 'strada was probably not worth much more than £4000 at trade in, I got a discount of around £1000.

So if you keep your wallet in your pocket, spec up the bike, and keep talking about something cheaper like a Triumph Sprint ST, you'll get a discount.

 

[Deleted Member MM]

Ducati Multistrada 1000DS 2003/03

Original Price £ 7600
Independent Dealer £ 6225
Private Good £ 5810
Private Poor £ 4730
Part Exchange £ 5395

What condition was the 'Strada in? According to Parkers price guide your p/ex price was £445 less than book.

 

[clarkey]

I don't believe the price guides. Multistradas don't seem to be selling privately at anywhere near those prices. Most Ducati dealers offered around £3800. There is loads of stock and unsold 04 bikes, so I don't think anyone wants to buy them. Anyway, I paid far less than the supposed book price for it a year and 6000 miles earlier, so I was pretty happy.

 

[clarkey]

Just to add- you can buy a brand new, zero miles 04 Multistrada with 05 bits added for £5999, so I don't believe the independent dealer price for a 2 year old average miles bike.