GS 3.9% APR - anybody got an info on how long it will last?

[cybergizmo]

Hi All

Currently got a 2013 WC GS and looking to replace with 2017 GS but wondering if I jump now as the current finance offers for GS is 3.9% APR. Just wonder if anybody has got any info on how long it will last?

 

[Seawolf]

I was looking at this today and was told the 3.9% offer ends on 31st December. The bike has to be registered this month as well.

 

[nice1myson]

Shame as ill be looking in the new year

 

[AP11 LAD]

I bought a triple black last year when they did this exact finance offer and it ended at end of December. It is very likely to be same this year and bike has to be registered during the offer period to qualify.

 

[Y7 JMM]

Or better still put it on a 0% credit card, you can do this anytime of the year, that's what I have done for years

 

[harryweld]

They did have it earlier in the year and it had to be registered by the end of October then it was extended until end of December. So it may be extended in the new year but I don't know for sure. I doubt it will run into March but who knows

 

[bisbee]

Sainsbury's bank ...3% loan

 

[AP11 LAD]

Sainsbury's bank ...3% loan

That's a good rate but more per month without the residual that BMW offer

 

[roadrider]

That's a good rate but more per month without the residual that BMW offer

Isn't the BMW offer at 3.9% a year interest rate compounded interest. The Sainbury 3% is just that 3% a year . If it is it makes a big difference.

 

[AP11 LAD]

Isn't the BMW offer at 3.9% a year interest rate compounded interest. The Sainbury 3% is just that 3% a year . If it is it makes a big difference.

BMW is 3.9% flat which yes is higher BUT most people who use BMW finance only make payments on part of the bike cost. The remainder is deferred until the end of the chosen loan period and this amount is effectively a deferred payment and is broadly equal to their guaranteed minimum future value. If at the end of the term you wish to keep the bike you have to pay a big chunk of money. Because you are deferring a large percentage of the bikes cost it means your payments per month are lower

 

[roadrider]

BMW is 3.9% flat which yes is higher BUT most people who use BMW finance only make payments on part of the bike cost. The remainder is deferred until the end of the chosen loan period and this amount is effectively a deferred payment and is broadly equal to their guaranteed minimum future value. If at the end of the term you wish to keep the bike you have to pay a big chunk of money. Because you are deferring a large percentage of the bikes cost it means your payments per month are lower

I know all about PCP , but the BMW flat rate as they call it is compounded unlike the Sainsbury which is 3% which is the point I was making re: Bisbees & AP11 lad's posts.
And according to the small print peeps are paying interest (compounded again) on the balloon/ deferred final payment as well.

 

[Pansmiker]

Isn't the BMW offer at 3.9% a year interest rate compounded interest. The Sainbury 3% is just that 3% a year . If it is it makes a big difference.

Interest usually is per annum for PCP, HP or Personal Loans. The easy way to work out you interred payment is to take the per annum rate 3% and multiply by the number of years. So Sainsbury on a 4 year loan with charge 12% on the original amount borrowed. BMW at 3.9% will charge 15.6% over the same period.

Sainsbury will charge £1,200 on a 10,000 loan - from day one you owe £11,200 so 48 x £233.33
BMW will charge £1,560 on a £10,000 loan - from day one you owe £11,560 so 48 x £240.83. if this was a PCP type deal say with a 25% residual value then payments would be 47 x £192.77 + 1 x £2,500

 

[Deleted account 210604001]

*Imagine a mildly patronising voice*
For me all that matters is total cost as indicated by roadrider and pansmiker, if your doing PCP because you think you will walk away from the bike then thats fine, just dont think your not paying more for that. I get mildly frustrated by the focus on low monthly payments (MCN regularly do this, having special features for bikes you can have under £100 pm etc). This means nothing unless you have worked out the total cost and compared it. I've seen a slightly smaller number of threads where people then dont know what to do when forced a) to lose the car, or b) are in finance not PCP and then have negative equity and are stuck.

I've lost count of the number of threads (mostly on car forums) where someone thinks they are quids in as they have managed to buy a new car and keep their payments the same or make them lower, without mention of how much longer they will be paying, what the rate is, and the size of the balloon payment that will inevitably force their hand.

The funny thing is that its a vicious cycle, if everyone is attracted by PCP and more go down this route, the residuals of the bikes will be affected and then the next PCP will have a slightly higher balloon payment to counter for the softening residuals (thats a generalisation, but a logical conclusion).

Not against PCP at all, but I am pro financial knowledge and education.

RBW.

 

[Deleted account 210604001]

What I really meant to say was are they doing this 3.9 on the new GS Rally version ? (Can they get them in before the end of December ?)

RBW.

 

[Georgeeboi]

What I really meant to say was are they doing this 3.9 on the new GS Rally version ? (Can they get them in before the end of December ?)

RBW.

No! My mate has asked.

Sent from my SM-G928F using Tapatalk

 

[oldnfat]

What I really meant to say was are they doing this 3.9 on the new GS Rally version ? (Can they get them in before the end of December ?)

RBW.

No, asked the same question yesterday.....the answer was "rates haven't been released but likely to be in the 7.9 - 9% range". In other words, rates have little to do with prevailing interest rates or risk and everything to do with supply and demand.....which I guess is fair enough if bods are prepared to pay.

 

[fatbob99]

So is it only the GSA that's a 2017 bike ?
No 2017 standard GS on this rate?

 

[B11RGER]

Sainsbury's bank ...3% loan

Applied for a sainsbury loan , was accepted but they were charging 5.4%.. although they were advertising it was 3.3% for the amount of money I was asking for. I called them and queried it, but go nowhere. I was advised if I can get a loan at a better rate than what I was offered they would better it if I sent in my documents of proof. I just politely said if I get a cheaper loan, i will take it . Rip off Ba5tards....

 

[twizzle]

The rate offered is influenced by your credit history....

Or better still put it on a 0% credit card, you can do this anytime of the year, that's what I have done for years

Applied for a sainsbury loan , was accepted but they were charging 5.4%.. although they were advertising it was 3.3% for the amount of money I was asking for. I called them and queried it, but go nowhere. I was advised if I can get a loan at a better rate than what I was offered they would better it if I sent in my documents of proof. I just politely said if I get a cheaper loan, i will take it . Rip off Ba5tards....

 

[DC]

The rate offered is influenced by your credit history....

This is correct. The 3.3 % is a representative rate, if you have a below par credit history or indeed no credit history , that rate will rise accordingly .