£150 PCP guide

We show­case some eye­wa­ter­ingly good deals

Motorcycle News (UK) - - This Week - DEPUTY EDITOR RICHARD NEW­LAND

Per­sonal Con­tract Pur­chase now fi­nances 20-30% of all new bikes sold in the UK, and it’s a method of own­er­ship that is grow­ing fast. But it might not be right for you, so make sure you un­der­stand the ins and outs.

You can have these new bikes for less than you might have ever imag­ined – and what’s more you can have an­other new one in three years’ time, prob­a­bly with­out in­creas­ing your monthly out­lay or hav­ing to find a fresh de­posit.

This is how it works…

O Work out what you can af­ford as a de­posit and in monthly re­pay­ments for the du­ra­tion of the con­tract. O You can get PCP on any amount from £1500 up­wards. O Choose your new mo­tor­cy­cle (or a used one – bikes up to three years old can also qual­ify). O Set a re­pay­ment term of be­tween two to four years. O Set your an­nual mileage at up to 24,000 miles a year. Your mileage will af­fect your monthly pay­ments. O De­cide which end-of-agree­ment op­tion is best for you when the time comes – most roll on to an­other bike.

Be aware that… O You do not own the bike, and won’t un­less you pay the fi­nal bal­loon fig­ure. O A sig­nif­i­cant pro­por­tion of the credit is de­ferred un­til the end of the con­tract, and it’s also not the cheap­est route to own­er­ship. O You must have fully com­pre­hen­sive in­surance. O Ex­cess mileage charges ap­ply. O Abuse or ne­glect will dam­age. your bike’s guar­an­teed fu­ture value. O The bike is at risk of re­pos­ses­sion if you do not main­tain re­pay­ments.

‘Get your­self a new bike for less’

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