Financing a 1250GSA

yoyo

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Hi,

I've been a long term lurker and subscriber, I currently ride a Yam Super Ten but I've always fancied a GSA, don't know why I just love the look of them, I've not even ridden one yet but I'm holding off as I know full well I'm going to love it!

My question comes around financing, I own my 2016 bike, I guess it's worth £6k in Part ex or £7.5k private with all the toys on it. I've never PCP's anything before but this could be an option. So I've a few questions as I guess this the most common way of buying on of these?

The general deal seems to be £3k down and £199 a month, what happens with extras? If I want a Nav 6 and luggage do I pay up front for these or are they worked into the monthly deal?

When the 3yrs is up and I decide to put it back in and take out a new one is there usually enough margin left in the bike to cover a deposit for the next bike?

I've got a mate who's offered me his GSA for the day which I'll take him up on when the weather breaks a bit but I wanted to get some ideas around finance as I don't fancy shelling out to buy a new one outright.

Cheers!
 
Re your extras bmw do 0% finance on anything clothing, helmets luggage etc when you purchase a new bike.
 
Thanks, that's good to know, something to budget for when working out the monthly payments.
 
There’s a big thread on pcp purchases, run it through the search

Like all things it has it’s pros and cons. Works for some not for others, it depends on different financial situations etc. There’s normally enough equity in the bike if you change it after the plan has ended.
 
Thanks DC, I searched PCP last night but didn't find a huge amount of info, will have a better look later on.

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I haven’t pcp’d a bike I’ll say that up front.

I did have it explained to me by a guy at bowker motorrad though and I think if you can get the rate low it’s a very good option. Oddly I also traded a yam S10 for the 1year old used GSA I bought. There is a part of me wishes I’d pcp’d a new one rather than buying a 2nd hand one.

The way it was explained to me, you want to put the smallest deposit you can down. You can put the luggage and accessories down on the finance but you’ll be encouraged not to - in fairness people keep their luggage etc and take it to the next bike whereas you’d have to start again if you financed it and have to give it back.

The guy at bowker said he monitored customers to see when they would be “in equity” - if he knew that a client had enough equity in their bike to be able to hand it in and not have to put a new deposit on a new one (or a very small deposit), then it was a very easy sales call to ring them and ask if they wanted to swap their bike for a new one. Most did.

I guess what I’m trying to say is that it was very well explained to me at the dealership and I know they will put a positive spin on it, but there was no pressure and they were happy to go through various scenarios, timescales, deposit values etc. Worth doing I think.


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I was told by my accountant buy it you can afford it, if you cannot everything costs more money. My guess is the product the dealers push is the one that suits them, not you. If I couldn’t afford it I’d borrow the rest from a bank, not BMW, Black Horse or any others.
 
Thanks both, I'm always sceptical of information given by sales people as many will say anything to get the sale. I'd never have considered PCP but after 3yrs of the S10 I'm thinking of a change and the bike previous to that i had for 3yrs so there is some logic to it apart from I own my S10 and have gotten used to not paying anything out monthly. The other option I have is to wait for a year and look to buy a used one outright but I like the idea of the 3yr warranty which seems to be needed in some cases.

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Be careful of PCPs at the moment. The car market is collapsing and cars are not reaching their settlement values leaving nothing as a future deposit. This will happen with bikes as well and the leasing bubble will burst. Be prepared to hand the bike back at the end or don't go for PCP at all.
 
Why not sell your YAM for 7k and borrow 4k over 2 years. for 11k you should be able to buy a two to three old sub 10k miles bike with two years warranty and you will OWN it after 2 years and not pay a penny more. You can purchase extended warranties after yours has run out for about £400 per year inc breakdown cover.

Monthly outgoing is around the same price as PCP.

In three years time you could go through the process again.

Once you are on the PCP train it will be hard to get off and you will be paying monthly for years, fine until circumstances change.

In my case my bike will be sitting in my garage for 5 months a year - dammed if i am paying pcp to just look at it.
 
As I did with my car, and the mrs VW, I took the PCP in order to benefit from the deposit assistance, free servicing etc.

Both were paid off the next day.

Alternatively if there is no benefit, an interest free credit card for the longest period available.

The cheapest place to borrow money, apart from parents is the bank.
 
stonehenge said:
Be careful of PCPs at the moment. The car market is collapsing and cars are not reaching their settlement values leaving nothing as a future deposit. This will happen with bikes as well and the leasing bubble will burst. Be prepared to hand the bike back at the end or don't go for PCP at all.
Click to expand...

Here we go
 
Depends if you are buying or hiring

Buying....then all you need to look at is the total amount payable to tell you how good a deal it is

Hiring.....smallest deposit possible and then lowest monthly payment you can afford
 
Some good advice on here as usual ... I would certainly take up the extras on 0% finance through the dealer and someone mentioned again 0% on a credit card for as long as possible ... although you may pay a small %age in 'transfer fee". Go for it .. the GS will make you smile all day long .. throughout the year .. I love mine to bits.:)
 
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'
 
Phaeton said:
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'
Click to expand...

well, you must be very wealthy - well done
 
Geekay said:
well, you must be very wealthy - well done
Click to expand...
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.
 
Phaeton said:
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.
Click to expand...

Exactly
 
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