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BMW Motorrad PCP

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Comments

  • #102
    listermint
    Registered Users, Registered Users 2 Posts: 34,106 ✭✭✭✭listermint


    Mya Magnificent Bread wrote: »
    I should probably know this because I work in finance but I remember watching a video on PCP, I'm pretty sure the guy said the best thing to do is just buy outright at the end but that they never recommend going down the PCP route at all, it's a nice way to own a shiny new toy but you are still spending a significant amount of money over what you would have if you bought cash.

    I think the majority of people even looking at PCP are probably financially well off because they have enough cash to afford the repayments on a brand new bike.

    I think bike v car is very different in these situations. If I had a wife and kids and wanted them safe in some massive SUV then yeah I might consider going PCP but because bikes relatively are alot cheaper than cars I just don't see any value in going PCP on a bike tbh.

    10 grand will buy you a 2 year old bike, you can get that loan from the bank and own outright, so for a bike I just don't see any value or point in PCP.

    If we were talking a 60 grand 5 series then I would probably have a different answer

    Ten grand won't buy you a two year old GS or RT or SS though will it...


  • #103
    goblin59
    Registered Users, Registered Users 2 Posts: 2,255 ✭✭✭goblin59


    Mya Magnificent Bread wrote: »
    I should probably know this because I work in finance but I remember watching a video on PCP, I'm pretty sure the guy said the best thing to do is just buy outright at the end but that they never recommend going down the PCP route at all, it's a nice way to own a shiny new toy but you are still spending a significant amount of money over what you would have if you bought cash.

    I think the majority of people even looking at PCP are probably financially well off because they have enough cash to afford the repayments on a brand new bike.

    I think bike v car is very different in these situations. If I had a wife and kids and wanted them safe in some massive SUV then yeah I might consider going PCP but because bikes relatively are alot cheaper than cars I just don't see any value in going PCP on a bike tbh.

    10 grand will buy you a 2 year old bike, you can get that loan from the bank and own outright, so for a bike I just don't see any value or point in PCP.

    If we were talking a 60 grand 5 series then I would probably have a different answer

    One of the head accountants in a firm I worked in went PCP on her car, but I think she worked it out as being cheaper for what she wanted.
    basically meant she was always stuck with Skoda though.

    I think with Cars it makes a little more sense as they don't hold their value as well as a motorcycle so the idea of being able to trade the car in later on in a few years to upgrade to the latest makes it a little bit worth while.

    I wouldn't do it with a motorcycle though.


  • #104
    dmigsy
    Registered Users Posts: 1,843 ✭✭✭dmigsy


    goblin59 wrote: »
    One of the head accountants in a firm I worked in went PCP on her car, but I think she worked it out as being cheaper for what she wanted.
    basically meant she was always stuck with Skoda though.

    Why would she be stuck with Skoda? You're not stuck with the same brand if you want to upgrade at the end of 3 years. You can shop around just as if you were buying new. You can clear the finance yourself or get the new dealer to clear it for you.
    goblin59 wrote: »
    I wouldn't do it with a motorcycle though.

    This stance makes no sense to me. If you can get 0% or close to 0% PCP over 3 years, you get to keep more of your money in your back packet / bank account / investment for longer. Why the eagerness to hand it over in one lump to a dealer or to spend more on interest on a bank loan?

    PCP isn't always a good deal and it's not always a bad deal. It depends on the individual deal on the table in every case.


  • #105
    goblin59
    Registered Users, Registered Users 2 Posts: 2,255 ✭✭✭goblin59


    dmigsy wrote: »
    Why would she be stuck with Skoda? You're not stuck with the same brand if you want to upgrade at the end of 3 years. You can shop around just as if you were buying new. You can clear the finance yourself or get the new dealer to clear it for you.



    This stance makes no sense to me. If you can get 0% or close to 0% PCP over 3 years, you get to keep more of your money in your back packet / bank account / investment for longer. Why the eagerness to hand it over in one lump to a dealer or to spend more on interest on a bank loan?

    PCP isn't always a good deal and it's not always a bad deal. It depends on the individual deal on the table in every case.


    So dealership she went with only do Skoda which is why her PCP is with skoda, was a deal with them where you bring the vehicle back after x years to trade against a new one, but had to be another Skoda.


    And when I said I wouldn't do it with a bike, I meant personally.
    Cars I tend to leave stock as I've no interest in them beyond as a means to get from A to B.
    But Bikes I heavily modify to suit my own needs.
    Some PCP / HP contracts don't allow you to modify the vehicle beyond what was agreed to at the initial purchase as to make the most of the contract for the consumer you trade the vehicle back in against a newer one, but any modifications mean a less favorable trade in even if it improves the bike overall.


  • #106
    dmigsy
    Registered Users Posts: 1,843 ✭✭✭dmigsy


    Ah fair enough if you're modifying your bike, PCP wouldn't suit so.

    She wouldn't be stuck with Skoda though. You can go to another dealer and they'll sort out clearing the finance with Skoda and set you up on their finance if you want to get a new car on PCP. You're not locked into a dealer / brand at the end of the 3 years.


  • #107
    corkgsxr
    Registered Users, Registered Users 2 Posts: 3,404 ✭✭✭corkgsxr


    I bought a 17 s1000rr on pcb and it worked perfectly for me.

    Sold it private at end of 3 years. Paid off rest and had my deposit back.

    For me it worked as described.

    Going again was actually working very favorable but im buying a house so wanted one bill less on paper.


  • #108
    listermint
    Registered Users, Registered Users 2 Posts: 34,106 ✭✭✭✭listermint


    corkgsxr wrote: »
    I bought a 17 s1000rr on pcb and it worked perfectly for me.

    Sold it private at end of 3 years. Paid off rest and had my deposit back.

    For me it worked as described.

    Going again was actually working very favorable but im buying a house so wanted one bill less on paper.

    What rate Apr were they giving you


  • #109
    corkgsxr
    Registered Users, Registered Users 2 Posts: 3,404 ✭✭✭corkgsxr


    listermint wrote: »
    What rate Apr were they giving you

    I cant remember maybe 8 or 9%


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