What's my bike worth?

[SJPB1982]

Sorry if this has been covered elsewhere. I am pretty good on what cars are worth but do not know what to expect as a trade in value for my bike. It is coming to the end of its finance agreement and I don't want to be turned over by the dealer. The bike is a 2010 R1200GSA with dynamic and premium packages, 10,000 miles and is in really good condition. I have tried the internet but the values are sporadic.

 

[Schtum]

What's the agreed final value in your PCP?

 

[SJPB1982]

About £6500 but I thought that was a bit low given the values they are charging on the forecourt for similar bikes.

 

[autogs]

dealer px price,9k i reckon,but as above what is final value figure.the select ststem needs careful thought as to values and cost to change etc.

 

[autogs]

so about right then as helpfully the diff between 6.5 and 9 will be your new deposit,if i understand select properly?

 

[SJPB1982]

Thats around the area I was hoping for as I put a decent deposit down.

 

[Pukmeister]

I bought my mates 2008 GSA when he gave it back at the end of his contract period from the dealers, they were going to retail it for £9750. I got it for a good price with my 2004 bike as Px plus a cash adjustment. I don't do finance.

If prices have held firm in the past couple of years and yours is within the agreed mileage I would expect the dealer to be selling it to its next owner for about the same. I would guess they'd give you about six and a half to seven grand for it, but thats just a guess.

EDIT: Just saw the post above, looks like I was on the money.

 

[autogs]

as i understand it putting a big deposit down on select is not good

 

[Schtum]

About £6500 but I thought that was a bit low given the values they are charging on the forecourt for similar bikes.

So that's a good thing if you intend to buy it. Otherwise, see how it influences the cost to change, if you're intending to use it to fund the deposit on another PCP.

 

[SJPB1982]

Thats probably the best way to be I certainly won't be taking another finance package. They do get you a good bike but the cost is ridiculous.

 

[B4ndit]

Thats probably the best way to be I certainly won't be taking another finance package. They do get you a good bike but the cost is ridiculous.

I have never bought a vehicle this way so I would like to understand how it works. Are you saying that you now have to pay £6500 if you want to keep it or that is the allowance they will give you against another new one?

 

[SJPB1982]

I have never bought a vehicle this way so I would like to understand how it works. Are you saying that you now have to pay £6500 if you want to keep it or that is the allowance they will give you against another new one?

Either or. That is he cost to buy the bike outright at the end of the agreement. If the trade in value exceeds the cost to buy you use that either as a deposit on a new bike or, if you are lucky, take it away from a mutual trade.

It doesn't seem to be that way though. Traditional HP is better in my opinion; the PCP brings lower monthly cost but higher costs overall.

 

[Pukmeister]

A credit scheme for those with no money IMHO.

The idea is that you are only financing about half the vehicle, so the monthly premiums are a lot less. When the agreed time is up, you pay the other half in cash and get title to the goods or hand it back start another scheme. If the vehicle condition/mileage is worse/greater than the contract states you usually get penalised heavily.

It's a good way for dealers to tie up their customers into the easy option of renewing for a shiny new bike or car every two years. Most can't find the large sum required to settle the deal, which is why they took credit in the first place.

The other option is to take the bus home and reflect on the half a vehicle you spent two years paying for, but don't actually own.

 

[SJPB1982]

A credit scheme for those with no money IMHO.

The idea is that you are only financing about half the vehicle, so the monthly premiums are a lot less. When the agreed time is up, you pay the other half in cash and get title to the goods or hand it back start another scheme. If the vehicle condition/mileage is worse/greater than the contract states you usually get penalised heavily.

It's a good way for dealers to tie up their customers into the easy option of renewing for a shiny new bike or car every two years. Most can't find the large sum required to settle the deal, which is why they took credit in the first place.

The other option is to take the bus home and reflect on the half a vehicle you spent two years paying for, but don't actually own.

Yep. No bus though.

 

[Pablo1]

£6500 FOR A 2010 GSA WITH DYN & PREM

IT sounds like a no brainer to me, theres nought much to be gained by swopping your bike for a 2012.
Take a personal loan if necessary and keep your bike.
regardless of how overall bad value the pcp deal was 2years ago you just need to look forward and start again, you will never buy the bike you have now for £6500.

 

[B4ndit]

IT sounds like a no brainer to me, theres nought much to be gained by swopping your bike for a 2012.
Take a personal loan if necessary and keep your bike.
regardless of how overall bad value the pcp deal was 2years ago you just need to look forward and start again, you will never buy the bike you have now for £6500.

He is right. I will give you £6600 for it if you want £100 in your back pocket.

 

[Bobbin-Man]

IT sounds like a no brainer to me, theres nought much to be gained by swopping your bike for a 2012.
Take a personal loan if necessary and keep your bike.
regardless of how overall bad value the pcp deal was 2years ago you just need to look forward and start again, you will never buy the bike you have now for £6500.

+1

 

[Blackal]

A credit scheme for those with no money IMHO.

The idea is that you are only financing about half the vehicle, so the monthly premiums are a lot less. When the agreed time is up, you pay the other half in cash and get title to the goods or hand it back start another scheme. If the vehicle condition/mileage is worse/greater than the contract states you usually get penalised heavily.

It's a good way for dealers to tie up their customers into the easy option of renewing for a shiny new bike or car every two years. Most can't find the large sum required to settle the deal, which is why they took credit in the first place.

The other option is to take the bus home and reflect on the half a vehicle you spent two years paying for, but don't actually own.

Jasperthehorse (who's in the trade) speaks highly of the schemes............

http://ukgser.com/forums/showthread.php?t=314783&highlight=personal+contract&page=3

I couldn't live with it - that's for sure

Al

 

[Blobby]

Pablo1 is right. Buy it for £6500 as it's a fantastic buy.

 

[JohnnyBoxer]

A credit scheme for those with no money IMHO.


The other option is to take the bus home and reflect on the half a vehicle you spent two years paying for, but don't actually own.

Whilst on that bus you can also add up all the interest paid on that final value balloon too, which has cost you dearly