Who's on PCP ??

[Giles]

To me, £100 a month for my hobby is no great shakes so I'm happy with the deal. There are plenty of folk who easily spend that a month down the pub, health / gym membership, fishing .... etc, so I don't blink an eyelid at paying that sort of money. (And permanent warranty is good ..)

I'm slowly sorting my bike to how I want it though Admittedly, all the bits I could take off and put on another in three years time - a days work at the most, but I'm beginning to build up a bit of a relationship with the old girl. With decat headers, a remus can, a trip to Hilltop over the next few weeks, and other little gear selector / windscreen sundries, the bike's just about perfect for me.

Not sure if I want to trade up again when the time comes - I'm tempted to pay off the balloon payment ...

 

[Schtum]

You must have put in a fair bit of cash up front to get your monthly payment of £100.

 

[Giles]

I traded in my 2010 GSA .....

 

[Ex-Call Centre Chimp]

I am.

 

[Nutty]

I paid for mine in full, but can understand the thinking behind PCP. But, if you're going to keep the bike, and are in a position to pay it off now, at least you can do all the mods you want without the hassle of having to remove them in the future. Plus, BMW may not be too keen on you remapping the bike, so long as its on finance.

 

[bisbee]

Oh I thought this was about drugs

 

[Delboy777]

Im paying £90 a month with guaranteed value of £6400 in three years time. Now would you be able to buy a 3 year old GSA with all the extras that come with it for that sort of money ? No chance. I will pay the balloon and keep the bike, its already in the ISA ready to pay. £22.50 a week is definitely a no brainer for me and ive had the advantage of a brand new bike and therefore I know it's history. Three packets of fags a week.......cheap hobby really.

Sent from my GT-I9305 using Tapatalk

 

[JayC]

£100.00 pm...I wish!!!

 

[Mr K]

Oh I thought this was about drugs

£100 a month for Angel Dust?....

 

[Delboy777]

I forgot to say I traded in my 2010 gs and had to pay off some finance too bmw but still a no brainer. Cheapest fun you csn have with your clothes on lol

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[(RIP) Tunneruk]

Paging Johnny Boxer

 

[JohnnyBoxer]

Paging Johnny Boxer

I'm saying nothing

There are some positives and there are some negatives...................I'll let people work those out for themselves

 

[Giles]

lend us 6K Johnny .....

 

[enabb]

I forgot to say I traded in my 2010 gs and had to pay off some finance too bmw but still a no brainer. Cheapest fun you csn have with your clothes on lol

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So is that a £8.5/9k deposit plus 90 quid a month....for three years, then 6.4k ballon.....Near on 18k in total

 

[Davey B]

Me.

I retire in 16 mths and didn't want £13k tied up now as I don't know what I'll be doing post retirement. It will give me a good 12 mths from mid 2015 to figure out what I'm doing so works well for me.

 

[Delboy777]

Nope I only had the gs for 10 months and there was a fair bit of finance too pay off on it which was done when new bike was purchased So your figures are way off.

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[JohnnyBoxer]

So is that a £8.5/9k deposit plus 90 quid a month....for three years, then 6.4k ballon.....Near on 18k in total

Aha, bingo.....






Here's an example

New Landrover Discovery £50000

Deposit £5000 (Cash or P/Ex)

Finance Balance £45000

Term 4 Years

Balloon at end of 4 years £25000 (on PCP)

a) HP

48 x £1071/month
Interest £6408
APR 7%

b) PCP

48 x £615/month
Interest £9520
APR 7%


That Balloon has given you lower monthly repayments BUT the pleasure has cost you an extra £3112 in interest on each and every one of those 48 monthly payments

Nothings for free in this world................few people could afford the true cost of purchasing that vehicle at £1071/month, so the automotive company makes it easier and more attractive to the masses @ £615/month to shift metal and cost to the punter is £3112 in extra interest.......kerching

Smoke and mirrors

 

[(RIP) Tunneruk]

Aha, bingo

Legs eleven!

 

[sven]

I am, but there was a £1000 discount from BMW at the time for PCP on the RT and the interest rate was pretty low too - I compared the PCP with normal finance and there was nothing in it at that particular time (a few hundred quid). I took £3500 equity out of the GS and the balloon payment after three years is £6080, so the money is already sitting in the bank ready, but is also there as a safety net if I need it for something else given the economy at the moment

 

[Davey B]

£3k on a £50k vehicle isn't too bad. It equates to less than £1k on a GS, over 3 yrs, so £25 a month.
It's a good job folk want to borrow money in one form or another Johnny or you'd be looking for a new line of work.