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BMW Motorrad PCP

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24

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    #32
    Cienciano
    Registered Users Posts: 14,226 ✭✭✭✭Cienciano


    galwaytt wrote: »
    oh puhleez : chain drive ? Lol, I think not ! :pac:
    K1300R is shaft drive. Think its marmite in the looks department, I really like it though.


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    #33
    Del2005
    Registered Users Posts: 18,871 ✭✭✭✭Del2005


    galwaytt wrote: »

    But, if at end of year 3 you keep the bike, and say borrow (anywhere) for the balloon - you'll be paying interest on it again. Which means you're paying interest on the balloon twice. That's a bit much really........

    Ah well.......it was a nice, albeit short dream........[sighs]

    With PCP, and all leases, they don't want you to buy out at the end of the term. They want you to start again with another new bike. If you want to own a bike save up or go to the CU, if you want new bikes go PCP.

    Not sure if ours is the same as the UK but over there you can change bikes before the end of the term, so you can have a brand new bike every year for a less than a decent 2nd hand bike.


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    #34
    galwaytt
    Registered Users Posts: 12,761 ✭✭✭✭galwaytt


    Del2005 wrote: »
    With PCP, and all leases, they don't want you to buy out at the end of the term. They want you to start again with another new bike. If you want to own a bike save up or go to the CU, if you want new bikes go PCP.

    Not sure if ours is the same as the UK but over there you can change bikes before the end of the term, so you can have a brand new bike every year for a less than a decent 2nd hand bike.

    ....sure, but it's the 2nd time around you really get done: you've spent your deposit already (1st time around.......) and any equity over the balloon payment will be modest, so the payments on the next one are even higher. Yes ??

    Ode To The Motorist

    “And my existence, while grotesque and incomprehensible to you, generates funds to the exchequer. You don't want to acknowledge that as truth because, deep down in places you don't talk about at the Green Party, you want me on that road, you need me on that road. We use words like freedom, enjoyment, sport and community. We use these words as the backbone of a life spent instilling those values in our families and loved ones. You use them as a punch line. I have neither the time nor the inclination to explain myself to a man who rises and sleeps under the tax revenue and the very freedom to spend it that I provide, and then questions the manner in which I provide it. I would rather you just said "thank you" and went on your way. Otherwise I suggest you pick up a bus pass and get the ********* ********* off the road” 



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    #35
    Del2005
    Registered Users Posts: 18,871 ✭✭✭✭Del2005


    galwaytt wrote: »
    ....sure, but it's the 2nd time around you really get done: you've spent your deposit already (1st time around.......) and any equity over the balloon payment will be modest, so the payments on the next one are even higher. Yes ??

    You've the guaranteed minimum value of the bike as your deposit so the payments will be the same. That's the catch as once you enter PCP then you're stuck in it but with a new vehicle every 3 years.


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    #36
    Wonda-Boy
    Registered Users Posts: 10,013 ✭✭✭✭Wonda-Boy


    Del2005 wrote: »
    You've the guaranteed minimum value of the bike as your deposit so the payments will be the same. That's the catch as once you enter PCP then you're stuck in it but with a new vehicle every 3 years.

    The trick to that is the dealer will always err on the side of caution and under value the bike estimate. If you can haggle a really good future sale price you be doing well.....


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    #37
    Del2005
    Registered Users Posts: 18,871 ✭✭✭✭Del2005


    Wonda-Boy wrote: »
    The trick to that is the dealer will always err on the side of caution and under value the bike estimate. If you can haggle a really good future sale price you be doing well.....

    People have been leasing for years we just have a need to own stuff here, look at the USA where ads don't even include the price just the monthly payments. It's not good business practice to rip off the customers, they make their money on the finance not the vehicle to keep you coming back again and again.


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    #38
    Wonda-Boy
    Registered Users Posts: 10,013 ✭✭✭✭Wonda-Boy


    Del2005 wrote: »
    People have been leasing for years we just have a need to own stuff here, look at the USA where ads don't even include the price just the monthly payments. It's not good business practice to rip off the customers, they make their money on the finance not the vehicle to keep you coming back again and again.

    Not good practise to RIPP OFF CUSTOMERS!!! No wonder it never took off in this country.....we get ripped off on ****in everything!

    Absolutely useless regulation over here TBH.


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    #39
    listermint
    Registered Users Posts: 33,613 ✭✭✭✭listermint


    Del2005 wrote: »
    People have been leasing for years we just have a need to own stuff here, look at the USA where ads don't even include the price just the monthly payments. It's not good business practice to rip off the customers, they make their money on the finance not the vehicle to keep you coming back again and again.

    Sorry but that is ridiculous the PCP and finance deals available in the USA, sure even the UK literally shadow anything thats over here. Ireland gets a terrible terrible deal in many aspects sometimes they pretend the market isnt there but unsure whats stopping manufactures using their own bank to do better deals like they do in other countries.

    We are just ripped off, the ownership thing is not the whole part of the story.


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    #40
    Wossack
    Registered Users Posts: 6,999 ✭✭✭Wossack


    since its not actually your bike, theres typically a yearly mileage limitation, you gotta get it main dealer serviced, and not sure what the story is with mods.. probably OEM only?

    (I believe anyway..)


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    #41
    Thinkingaboutit
    Registered Users Posts: 2,180 ✭✭✭Thinkingaboutit


    cantdecide wrote: »
    The whole industry has been knackered here for the want of the easy breezy finance the rest of the world uses. I don't know why Paddy can't have finance. Even in the boom, I'd say most bikes were bought either Credit Union or cash. If you can't find info on finance from BMW it's either not available or you'd have to not need it to qualify for it.

    Some did and do finance. Harley Davidson did, I got a bike from them before, and now Ducati (which the import agent sells too) has it. It might be something the agent is doing, perhaps. Perhaps the volumes might be too low, no idea.


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    #42
    Paulw
    Moderators, Society & Culture Moderators Posts: 13,381 Mod ✭✭✭✭Paulw


    BMW definitely do finance. My bike is part financed, just to make it easier on my pocket.


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    #43
    listermint
    Registered Users Posts: 33,613 ✭✭✭✭listermint


    Pulling up this zombie thread as got an add for Yamaha finance appear in my feed.

    Checked their rate and still a crazy 8.9 % remembered this thread (sad I know) so their rate is fairly crap even in comparison to banks. Whom I think we're winging around 7.9%.


    But then whilst looking it all up flexifi came up on bike world with a rate of 6.99%

    I know them from being a small loans lender for TVs and furniture likes of Harvey Normans


    Anyone know if this bike rate is true ? Seems to best all lenders or am I missing something.


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    #44
    galwaytt
    Registered Users Posts: 12,761 ✭✭✭✭galwaytt


    listermint wrote: »
    Pulling up this zombie thread as got an add for Yamaha finance appear in my feed.

    Checked their rate and still a crazy 8.9 % remembered this thread (sad I know) so their rate is fairly crap even in comparison to banks. Whom I think we're winging around 7.9%.


    But then whilst looking it all up flexifi came up on bike world with a rate of 6.99%

    I know them from being a small loans lender for TVs and furniture likes of Harvey Normans


    Anyone know if this bike rate is true ? Seems to best all lenders or am I missing something.

    Well I looked at €5000 over 36 moths on FlexiFi via Ross Motorcycles in Cork and it quoted a total cost of €5718.68 including charges.

    https://photos.app.goo.gl/BNkNVYz7mus3mF3L9


    My man maths makes this 4.18%.

    Is this right ? - cos if it is, it's cheaper than the credit union....

    Ode To The Motorist

    “And my existence, while grotesque and incomprehensible to you, generates funds to the exchequer. You don't want to acknowledge that as truth because, deep down in places you don't talk about at the Green Party, you want me on that road, you need me on that road. We use words like freedom, enjoyment, sport and community. We use these words as the backbone of a life spent instilling those values in our families and loved ones. You use them as a punch line. I have neither the time nor the inclination to explain myself to a man who rises and sleeps under the tax revenue and the very freedom to spend it that I provide, and then questions the manner in which I provide it. I would rather you just said "thank you" and went on your way. Otherwise I suggest you pick up a bus pass and get the ********* ********* off the road” 



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    #45
    macplaxton
    Moderators, Motoring & Transport Moderators Posts: 2,957 Mod ✭✭✭✭macplaxton


    I think the APR in your example is around 8.93%

    http://www.online-calculators.co.uk/interest/loanrepayment.php


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    #46
    batman_oh
    Registered Users Posts: 1,393 ✭✭✭batman_oh


    I was told by a dealer race flexi fi only do finance over 1-3 years. With the price of new bikes being so ridiculous now you are looking at massive monthly amounts unless you have half the value in a deposit at least. Works better for used stuff I reckon.
    I think the 6.99% rate is on short term lower amounts - it’s around 8.9% on bigger stuff


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    #47
    listermint
    Registered Users Posts: 33,613 ✭✭✭✭listermint


    batman_oh wrote: »
    I was told by a dealer race flexi fi only do finance over 1-3 years. With the price of new bikes being so ridiculous now you are looking at massive monthly amounts unless you have half the value in a deposit at least. Works better for used stuff I reckon.
    I think the 6.99% rate is on short term lower amounts - it’s around 8.9% on bigger stuff

    There max has always been three years. But I can't see any information of he rate changing. Even 3 years they are smashing the other rates.


  • Options
    #48
    monkeybutter
    Registered Users Posts: 3,398 ✭✭✭monkeybutter


    galwaytt wrote: »
    ..where would we be without MS Excel, huh ?? :p

    361691.png

    Logically, the CU is the way to go, but the cost-per-month you have to find may be the stumbling block.

    That said, the PCP solves that, but BMW are making big money on it - €2411 interest on €4261 borrowed.........mmmmm :(




    surely there'd be a discount if you rocked up with cash?


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    #49
    galwaytt
    Registered Users Posts: 12,761 ✭✭✭✭galwaytt


    monkeybutter wrote: »
    surely there'd be a discount if you rocked up with cash?

    Once Upon A Time, maybe.

    But now, when margins are tight on the item, there's money to be had on the finance, and that becomes the actual 'sale item'. You won't get as much off as you think, for cash.

    Credit earns interest payments: cash actually costs them to deposit these days.

    Look at VAG (VW/Audi/Seat et al): they make more money from VAG Bank (their own in-house bank, providing finance so you can buy the actual VW/Audi/Seat ) than the actual car..........

    Ode To The Motorist

    “And my existence, while grotesque and incomprehensible to you, generates funds to the exchequer. You don't want to acknowledge that as truth because, deep down in places you don't talk about at the Green Party, you want me on that road, you need me on that road. We use words like freedom, enjoyment, sport and community. We use these words as the backbone of a life spent instilling those values in our families and loved ones. You use them as a punch line. I have neither the time nor the inclination to explain myself to a man who rises and sleeps under the tax revenue and the very freedom to spend it that I provide, and then questions the manner in which I provide it. I would rather you just said "thank you" and went on your way. Otherwise I suggest you pick up a bus pass and get the ********* ********* off the road” 



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    #50
    TheBlaaMan
    Registered Users Posts: 3,442 ✭✭✭TheBlaaMan


    Assuming you go in to the contract with full awareness of the terms, PCP with a zero finance option looks pretty attractive, and Joe Duffy Motorrad are now offering this.

    I was considering a G310 - RRP €7103 and the pricing comes out at :

    Deposit €1500
    36 months @ €64
    GMFV €3,283.84

    The balloon payment is conservatively low, IMO (maybe others disagree) but at 46% of RRP is below what I would expect you would get for a 3 y/o bike?

    Any "gotcha's" here...?


  • Options
    #51
    mjsc1970
    Registered Users Posts: 642 ✭✭✭mjsc1970


    TheBlaaMan wrote: »
    Assuming you go in to the contract with full awareness of the terms, PCP with a zero finance option looks pretty attractive, and Joe Duffy Motorrad are now offering this.

    I was considering a G310 - RRP €7103 and the pricing comes out at :

    Deposit €1500
    36 months @ €64
    GMFV €3,283.84

    The balloon payment is conservatively low, IMO (maybe others disagree) but at 46% of RRP is below what I would expect you would get for a 3 y/o bike?

    Any "gotcha's" here...?

    I may be adding the sums incorrectly but it looks to me that If you were to buy the bike outright after 3 years on PCP, what you would pay overall then would be ballpark RRP. Have I this right?


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    #52
    TheBlaaMan
    Registered Users Posts: 3,442 ✭✭✭TheBlaaMan


    mjsc1970 wrote: »
    I may be adding the sums incorrectly but it looks to me that If you were to buy the bike outright after 3 years on PCP, what you would pay overall then would be ballpark RRP. Have I this right?

    Yeah, exactly. Effectively free financing over the term. AKA a very good deal!


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    #53
    mjsc1970
    Registered Users Posts: 642 ✭✭✭mjsc1970


    TheBlaaMan wrote: »
    Yeah, exactly. Effectively free financing over the term. AKA a very good deal!

    That's sweet.


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    #54
    galwaytt
    Registered Users Posts: 12,761 ✭✭✭✭galwaytt


    mjsc1970 wrote: »
    I may be adding the sums incorrectly but it looks to me that If you were to buy the bike outright after 3 years on PCP, what you would pay overall then would be ballpark RRP. Have I this right?

    You're not wrong :)

    If you were of a mind to, and could save some money into an account/CU whilst you were making the PCP payments, you could find that when the time comes you have the GMFV already saved, and you could just walk in and pay it off: so you'd have had the benefit of the cheaper 'per month' payments without the pressure of pure HP ones.

    So the question is, if the bike comes in at RRP then, the only difference compared to cash would be, maybe, 5% - 10%, at which you'd ask yourself: do you think that the Total Amount Payable represents value, and considering you'd have a span new bike under you ? I think in a lot of cases the answer to that would be 'Yes'.

    It's a pity no-one else bar BeeEmm does anything like it.

    Ode To The Motorist

    “And my existence, while grotesque and incomprehensible to you, generates funds to the exchequer. You don't want to acknowledge that as truth because, deep down in places you don't talk about at the Green Party, you want me on that road, you need me on that road. We use words like freedom, enjoyment, sport and community. We use these words as the backbone of a life spent instilling those values in our families and loved ones. You use them as a punch line. I have neither the time nor the inclination to explain myself to a man who rises and sleeps under the tax revenue and the very freedom to spend it that I provide, and then questions the manner in which I provide it. I would rather you just said "thank you" and went on your way. Otherwise I suggest you pick up a bus pass and get the ********* ********* off the road” 



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    #55
    listermint
    Registered Users Posts: 33,613 ✭✭✭✭listermint


    any details of this, their website is poxy no matter what link you press for further details on those motorad finance options the link is broken.


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    #56
    TheBlaaMan
    Registered Users Posts: 3,442 ✭✭✭TheBlaaMan


    listermint wrote: »
    any details of this, their website is poxy no matter what link you press for further details on those motorad finance options the link is broken.

    Call them and ask for the sales team....... :P


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    #57
    listermint
    Registered Users Posts: 33,613 ✭✭✭✭listermint


    TheBlaaMan wrote: »
    Call them and ask for the sales team....... :P

    I would but they don't deserve the business if they can't advertise it properly....

    So.


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    #58
    thos
    Registered Users Posts: 574 ✭✭✭thos


    galwaytt wrote: »
    You're not wrong :)

    If you were of a mind to, and could save some money into an account/CU whilst you were making the PCP payments, you could find that when the time comes you have the GMFV already saved, and you could just walk in and pay it off: so you'd have had the benefit of the cheaper 'per month' payments without the pressure of pure HP ones.

    So the question is, if the bike comes in at RRP then, the only difference compared to cash would be, maybe, 5% - 10%, at which you'd ask yourself: do you think that the Total Amount Payable represents value, and considering you'd have a span new bike under you ? I think in a lot of cases the answer to that would be 'Yes'.

    It's a pity no-one else bar BeeEmm does anything like it.

    I think the other variable here is probably mileage, I thought these PCP deals were based on a certain expected mileage, and may be penalties for exceeding the mileage. Worth checking!


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    #59
    listermint
    Registered Users Posts: 33,613 ✭✭✭✭listermint


    thos wrote: »
    I think the other variable here is probably mileage, I thought these PCP deals were based on a certain expected mileage, and may be penalties for exceeding the mileage. Worth checking!

    Id say they'd murder you if it was a commuting machine. Anything other than a weekend spinner


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    #60
    TheBlaaMan
    Registered Users Posts: 3,442 ✭✭✭TheBlaaMan


    thos wrote: »
    I think the other variable here is probably mileage, I thought these PCP deals were based on a certain expected mileage, and may be penalties for exceeding the mileage. Worth checking!

    This is definitely a factor, monthly mileage above 500km is likely to cost you....


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    #61
    galwaytt
    Registered Users Posts: 12,761 ✭✭✭✭galwaytt


    thos wrote: »
    I think the other variable here is probably mileage, I thought these PCP deals were based on a certain expected mileage, and may be penalties for exceeding the mileage. Worth checking!

    you're right actually : I think it's a 4k kms pa limit

    Ode To The Motorist

    “And my existence, while grotesque and incomprehensible to you, generates funds to the exchequer. You don't want to acknowledge that as truth because, deep down in places you don't talk about at the Green Party, you want me on that road, you need me on that road. We use words like freedom, enjoyment, sport and community. We use these words as the backbone of a life spent instilling those values in our families and loved ones. You use them as a punch line. I have neither the time nor the inclination to explain myself to a man who rises and sleeps under the tax revenue and the very freedom to spend it that I provide, and then questions the manner in which I provide it. I would rather you just said "thank you" and went on your way. Otherwise I suggest you pick up a bus pass and get the ********* ********* off the road” 



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