New bikes, low costs
You can save for yonks, wait for a well-heeled relative to pop their clogs… or you can sign up for PCP finance, the affordable way to get a shiny new bike. Right now
Has a new motorcycle ever been so within reach? Not only are showroom-fresh bikes as cheap as they’ve ever been, but the magic of PCP (personal contract purchase) finance means they’re more affordable than ever as well. How does a rather tempting fifty quid a month sound?
The basic PCP premise is pleasingly straightforward. You pop down a deposit and pay a monthly fee, like a loan or hire purchase. The difference is the dealer sets a guaranteed future value (GFV) for the bike, taking into account expected mileage, and you only pay to cover the depreciation (and a bit of interest) – and so it makes the figures tantalisingly affordable. At the end of the finance period you can pay a lump sum to keep the bike, based on its GFV, or give it back and walk away. Or best of all, you can hand the bike back, pick a new one and carry on your monthly payments. It’s like your pay-monthly phone contract and regular upgrades. Well, kinda. There are considerations. The bike is the property of the finance outfit during the term and you’re promising to keep it in ‘resaleable’ condition – there are costs if you return a shoddy nail, or pass the agreed mileage. But there’s also flexibility. The examples on the following pages generally assume a 25% (of the bike’s value) deposit and 4000 miles a year for three years. But the deposit, mileage and term can all be tailored – that’s the ‘personal’ bit of the name. There can even be the option to lead across to a different bike during the finance period.
Finance isn’t for everyone. But in today’s low-rate, accessible, pay-and-have-it-now world the PCP set-up makes oodles of sense. I’m the sort of bloke who saves 2ps in an old whisky bottle, and even I’m tempted. Take a deep dive into the 100 great deals on these pages, enjoy the ace model descriptions from the unique hand of
Mark Graham, and imagine what delight could be glinting at you from the garage this summer…