What are my options?
Can I swap manufacturers?
Yes. The new dealer will pay off what’s outstanding on the bike (provided it’s in respectable condition) and roll you into a deal on one of theirs. Most of the major manufacturers issue plans through Black Horse, but some use other finance groups – such as KTM with Santander – so if you’re planning on jumping between manufacturers, double-check your options before you buy. Dealers and finance companies are both highly motivated to help make your purchases as easy as possible – so tell them what you want, and they’ll tell you what it’ll cost to do it. Simple.
Can I get a PCP deal on a secondhand bike?
Yes. Many dealers can offer this, and it’s all down to the choice of bike, and you, as to whether this is better than the deal you could get on a new bike. Generally the bike has to be under three years old to start with and must usually be under five years old at the end of the PCP. However, because of the lower retail price you might be able to afford the repayments on a straight loan, which could work out cheaper. The bonus with buying nearly new is that a chunk of depreciation has already gone – but you might still find there are better deals on new bikes.