LC PCP
- Thread starter MartinL
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PAL55
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You should be able to get 5.9%.
Deleted account 220319001
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5.9 is what I got.
demonbiker
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Got mine down from 10.6 to 8.1 
not brilliant but got 10k a year
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not brilliant but got 10k a yearSent from my iPhone using Tapatalk
waynecoluk
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I never went down the PCP route when I got my GSA last month as they would only offer 4000k. If they would have offered 10k like you I would have considered it. Bank loans are at 3.3% at the mo thats what I did.
Yes, There are bank loans to be had at 3% or less, then you can bargain with cash and you own the bike, not BMW. Until you've made the last payment and settled the finance, if it gets stolen or written off BMW gets the insurance payout, not you. If you find yourself on hard times or no longer need the bike you can sell it. Finance is attractive as its a low monthly payment but You could end up putting in a sizeable chunk of cash and losing the lot.
My approved used GS LC was advertised at 10.9% I was trying to negotiate a discount on a bike by around 1k and lower APR. No movement on the price was detected but APR was dropped to 8.9% which wasn't quite good enough. Was asking for extras like panniers or Nav V but no great result come from that. At the end I was ready to say no to the deal and search elsewhere. I was then asked to wait a minute as (I was about to shake hands goodbye), he desapeared and about three minutes later came running in with an offer off 5.9% which he said normally only available when purchasing a brand new bike. If you are going down a "new"route, try to bluff them in to low APR and a few farkles like panniers, top box, Akra exhaust, nav V you may not like the unit it self and may go down a tomtom route but you'll easily sell nav v for a good £500 that's worth it in my view.
demonbiker
Registered user
I didn't shop around it was a spur of the moment,
The dealer principle had gone - who was a large penis and wouldn't have bought anything from him!
Took a test ride on a triple black 2013 and was going for that , but for £10 a week more get a brand new TE!
They did throw in full luggage , transfer my number plate and drop rate from 10.6 to 8.1 , upped mileage to 10k a year , gave me £3000 for my 2001 GS with 50 k on it
So I don't think it was a terrible deal
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Moose
Registered user
I never considered that aspect. So, you would lose your initial deposit as well?
Buy BMW Shortfall insurance - I'm bought it four times and used it 3 - only one of them my fault. It pays out the difference between what the insurance pays on a write off and what your original invoice or the finance owing....whichever is the greater. Negotiate the dealer down - plenty of commission in it.
That's not the point - read the small print of your finance agreement about insurance claims - the payment goes to BMW and you're at their mercy to get something back. They're under no legal obligation to return anything to you as you don't own anything until the finance is cleared. Shortfall only protects you from having to give th insurance payment to BMW AND a balance on top 
That's not the point - read the small print of your finance agreement about insurance claims - the payment goes to BMW and you're at their mercy to get something back. They're under no legal obligation to return anything to you as you don't own anything until the finance is cleared. Shortfall only protects you from having to give th insurance payment to BMW AND a balance on top
Who's mercy ? If you owe finance then its reasonable to accept that you need to pay that back (admittedly - if you had a bank loan, you could keep the loan going). Any difference between the settlement figure on your BMW finance and the insurance payout is sent to you by your insurance company. BMW Shortfall (that's the only one I know about - there are lots of others out there) pay the difference between the Insurance payout and the original invoice. If you write your bike off in the first 6months - its negligible benefit as your insurance company should provide a new bike anyway. But if your bike was 2.5yrs old (like mine) - they are paying over £5k to me - for a premium of a couple hundred £ for a 3yr policy. The insurance company are most definitely under a legal obligation to return the balance of the write-off payment minus the finance settlement. The policy also covers your excess on the insurance... You can have a shortfall policy if you pay cash as well...... Wasn't putting forward an argument for or against a bank loan - just giving some feedback on shortfall.....which I'm not on commission for btw
https://www.ala.co.uk/quote.php?action=goto&prod=GAP&group=motorcycles&options=1&qual_gap=1
£121 a month, probably half or one third of what BMW want. Reputable company
£121 a month, probably half or one third of what BMW want. Reputable company
??? £121 a month???
Who's mercy ? If you owe finance then its reasonable to accept that you need to pay that back (admittedly - if you had a bank loan, you could keep the loan going). Any difference between the settlement figure on your BMW finance and the insurance payout is sent to you by your insurance company. BMW Shortfall (that's the only one I know about - there are lots of others out there) pay the difference between the Insurance payout and the original invoice. If you write your bike off in the first 6months - its negligible benefit as your insurance company should provide a new bike anyway. But if your bike was 2.5yrs old (like mine) - they are paying over £5k to me - for a premium of a couple hundred £ for a 3yr policy. The insurance company are most definitely under a legal obligation to return the balance of the write-off payment minus the finance settlement. The policy also covers your excess on the insurance... You can have a shortfall policy if you pay cash as well...... Wasn't putting forward an argument for or against a bank loan - just giving some feedback on shortfall.....which I'm not on commission for btw
You're still missing the point. If your bike is stolen or written off at ANY time during the agreement of course your insurance pays out - but you're signing a legal agreement to instruct the insurance co to give that entire amount to BMW financial services. Now on PCP you will have paid between £2-4K deposit plus payments so for your 6 month old bike you have spent anywhere up to £5K with absolutely no guarantee BMWFS will return a balance. If you are near the end of the 3-year agreement you still haven't paid 50% of the purchase price for the bike so face losing the lot. This is not the insurance co legal requirement or shortfall insurance but the finance company. You DON'T own the bike, BMWFS does. This is why the agreement insists you have fully comp insurance.
For GAP insurance???
'No guarantee BMWFS will return a balance'......you don't seriously believe that ?! You think they just keep it on the off chance you don't challenge it ? I'm obviously missing the point here but BMWFS will, absolutely, categorically, pay the balance to you - once they've taken what they're owed. No question.
When you say 'the entire amount' - your insurance company only pays the settlement figure to BMWFS.
I agree you don't own the bike until you've fully paid....which you will have done once the insurance company pays the settlement...and passes you the balance. If the write off doesn't cover the settlement - you have to pay the difference.
I know this....because it's happened 3 times to me !
My mistake...£121 for the 3 yrs policy, brain not in gear when typing. (I had an ALA policy on my last car)
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