Financing a 1250GSA

I can't really understand anyone who would choose PCP on anything unless it's to keep up with the Jones's at the end of the deal you end up with nothing, if you buy at least you have 'something'

Actually far from it, but I try to live within my means & not pretend to be something I'm not. Hence why I have a 2005 bike with 63k on it which I own outright & if sold the money would be mine to do with a I please.

My PCP final payment is £2,500 less than the price I could sell my bike for here today, quickly.

That could possibly buy your high mileage 14 year old bike, but I wouldn't.
 
My PCP final payment is £2,500 less than the price I could sell my bike for here today, quickly.
That could possibly buy your high mileage 14 year old bike, but I wouldn't.
Not from me it wouldn't but that's another story, how much have you paid to have the privilege of £2500 in your pocket if you sold?
 
Not from me it wouldn't but that's another story, how much have you paid to have the privilege of £2500 in your pocket if you sold?

An amount well within my means.

These ‘buy cash’ comments are so outdated and misinformed.

Let’s say you have £10k savings. Take low rate finance. Make the monthly payment from your savings account. Retain your savings for ‘emergencies. Repay at any time. Add finance company to your ‘support team’ if any QC issues with your bike.

There is a huge difference in using finance through necessity (house) and choice. Your choice will differ from others.
 
An amount well within my means.
These ‘buy cash’ comments are so outdated and misinformed.
Let’s say you have £10k savings. Take low rate finance. Make the monthly payment from your savings account. Retain your savings for ‘emergencies. Repay at any time. Add finance company to your ‘support team’ if any QC issues with your bike.
There is a huge difference in using finance through necessity (house) and choice. Your choice will differ from others.
But now you are talking about loans & purchasing not PCP, that is a totally different matter.
 
But now you are talking about loans & purchasing not PCP, that is a totally different matter.

no, its exactly the same thing - a form of financing - the point of PCP is to only pay the depreciation.

At the right rate, it makes a lot of sense for a lot of people.

coming on a thread entitled "Financing a GSA" and commenting along the lines of "you shouldn't be financing" isn't very helpful.
 
no, its exactly the same thing - a form of financing - the point of PCP is to only pay the depreciation.
At the right rate, it makes a lot of sense for a lot of people.
coming on a thread entitled "Financing a GSA" and commenting along the lines of "you shouldn't be financing" isn't very helpful.
At which point have I said that? if you wish to read I said I can't understand anyone who thinks PCP is a good idea, you are effectively renting your bike, the only people making money out of it is the finance company.

But we all have different priorities in life, one of mine is not to be burdened with debt, I would rather have a £3K bike which I own sat in my garage than paying a deposit of £3K then £299 a month for 3 years to hand it back at the end of the term with nothing to show for it. But each to their own, if your happy then it's no skin off my nose, don't get so defensive just because I don't agree with you.
 
But we all have different priorities in life, one of mine is not to be burdened with debt, I would rather have a £3K bike which I own sat in my garage than paying a deposit of £3K then £299 a month for 3 years to hand it back at the end of the term with nothing to show for it

You have an option to hand it back at a designated point. You don't have to. You can continue to finance the balance over a further period.

Let's say that is an additional 2 years on top of the initial 3 years, so 5 years total.

The cost to the borrower is the total interest over the five years.

My bike will be worth something in 5 years, probably more than the total interest, plus I have a bike worth more than your £3k bike you bought for cash.

Good decision and nothing to do with priorities and it's not a burden.

Seriously, anyone is entitled to have an opinion, but your thought process is completely wrong.
 
Seriously, anyone is entitled to have an opinion, but your thought process is completely wrong.
Nice edit there to try to not be so insulting, but hey ho if it floats your boat go for it, you've been sucked in by the marketing, don't worry you're not alone. But as far as I am concerned as I have stated before there is only one winner with PCP that's the finance house, who surprising is also the manufacturer under a different guise. I don't give a flying fig if my toys aren't shiny & don't feel the need to fit in with anybody.

But all this doesn't help the OP, if I was in his shoes & had the disposable (which I don't) I'd initially try to sell his current bike privately as it will return the most, then look for a loan via something like moneysupermarket.com get the money in the bank, then walk into a dealership with his debit card, although pay the deposit on a credit card.
 
Nice edit there to try to not be so insulting, but hey ho if it floats your boat go for it, you've been sucked in by the marketing, don't worry you're not alone. But as far as I am concerned as I have stated before there is only one winner with PCP that's the finance house, who surprising is also the manufacturer under a different guise. I don't give a flying fig if my toys aren't shiny & don't feel the need to fit in with anybody.

But all this doesn't help the OP, if I was in his shoes & had the disposable (which I don't) I'd initially try to sell his current bike privately as it will return the most, then look for a loan via something like moneysupermarket.com get the money in the bank, then walk into a dealership with his debit card, although pay the deposit on a credit card.

Insulting?

Living beyond means, trying to be something you're not, keeping up with the Jones's, burdened with debt - just some of your own.

Your opinion to buy for cash is valid, but not all people with cash choose not to finance something.

Each has its own merits for the individual, but just because it doesn't suit you doesn't make it wrong.

And it's nothing to do with marketing, just good financial planning...
 
I’ve bought a couple of cars on pcp but always paid the balloon figure
Would have done it with gsa I bought recently but a bank loan worked out better and bought private
If I can afford the payments I will have it now rather than wait 3 or 4 hr to save
No one knows what’s round the corner so get what u want and enjo, if we have a little interest to pay so be it
 
I remember back in 2014 when I had purchased a 1200GS TE, not long after they had been released. I was unfortunate and had a lot of problems with the bike, it certainly spent more time in the dealers than with me. The biggest issues where the gearbox and corrosion.
At the time there where quite a few folks having similar problems. In the end they started giving people who were in the same or a similar position to me new bikes.
In the end they decided they would swap the engine/gearbox and final drive in my bike. This was not really what I wanted and enquired as to why I wasn't being offered a new bike ? The answer was simple. I was told, but the salesman told me he would deny ever saying it, that the reason they weren't swapping mine was that 'I owned my bike' all the one's being given new bikes where on PCP. I never really did fathom if there was any truth in this, I just got rid of the bike.
 
For those interested in financing via PCP, get the actual deal in front of you and do the maths.
If there is a deal on, low percentage rate finance and they knock an amount off the bike price that is the same as or even more than you’d get from buying cash (well, debit card), and the headline amount of interest is the same, it may be cheaper to take PCP, leave it for a couple of months then settle finance. It’s important to check the total amount payable (as PCP “rate” can be misleading) and any early settlement fees in each case.
 


Back
Top Bottom