MONEY FOR NOTH­ING

These bril­liant 0% in­ter­est deals mean fund­ing your new bike has never been cheaper

Motorcycle News (UK) - - Buying & Selling - DEPUTY ED­I­TOR RICHARD NEW­LAND

With in­ter­est base rates at an all­time low, the cost of bor­row­ing cash has never been cheaper. When you com­bine these un­prece­dented times with bike man­u­fac­tur­ers’ de­sire to shift old stock, you’ve got the recipe for some very tasty 0% deals.

With no in­ter­est to pay, you get the lux­ury of pay­ing off the value of the bike on a monthly ba­sis over two, three or four years, and you’ll own the bike at the end of the term, too.

Hire pur­chase ex­plained

Most deal­ers of­fer Hire Pur­chase through one or two big com­pa­nies. This is how it works... O Get your bud­get worked out based on what you can af­ford to re­pay. You can bor­row any amount from £1500 O Choose your new mo­tor­cy­cle (or a used one – higher value bikes up to 12 years old can usu­ally qual­ify) O Set a re­pay­ment term of one to five years, based on your monthly bud­get. This op­tion’s great if... O You want flex­i­ble de­posit op­tions – 0% de­posit, and 0% fi­nance may even be avail­able, sub­ject to sta­tus O You want a sim­ple re­pay­ment sum at fixed in­ter­est rates, so you’ll al­ways know the amount of each pay­ment for the du­ra­tion of the con­tract O You want to own your mo­tor­cy­cle out­right at the end of the con­tract. How­ever, be aware that... O You must have fully comp in­sur­ance dur­ing the fi­nance term O Your mo­tor­cy­cle is at risk of re­pos­ses­sion if you do not main­tain your agreed re­pay­ments O You have no pro­tec­tion against the bike’s de­pre­ci­a­tion in value O You do not ac­tu­ally own the mo­tor­cy­cle un­til all of the pay­ments have been made

‘You can have a new bike for less’

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