Kickstart the year with a new bike
With great deals on offer, there’s so much choice...
What better way to begin the 2024 riding season than by investing in a new machine? And there are some hot deals as the latest PCP offers provide an easy way to own a new, or nearly new, bike.
The overall outlay is less with PCP, just as long as you don’t pay the final settlement figure. Equally, if you want to change machine during the contract period that’s easy, too.
Despite what you might think, there are affordable routes to ownership. Just look at the likes of the latest Yamaha MT-09 on p4. It could be in your garage for £99 per month with an APR of 9.9%. Or how about the BMW F900R for an appealing £89 per month?
With a bit of careful budgeting those repayments aren’t too severe. And you could have another bike in three years’ time, possibly without increasing your monthly outlay, or having to find a fresh deposit. The system works by letting you pay for the depreciation (plus interest), rather than the full retail price. Add in a deposit, and you’re only paying back a small chunk of the loan value, which is how you reach the monthly figure.
Too good to be true?
At the end of the period, you don’t own anything. You have to decide whether to pay off the outstanding amount and keep the bike, give the bike back and walk away owing, and owning, nothing, or roll your PCP deal on to a new one. Many use equity in the guaranteed final value (GFV) as a deposit, and roll over to a new PCP deal. But you might not have enough equity to do this.
What am I paying for?
You’re effectively entering into a long-term hire agreement, so if you run it into the ground you’ll pay more than the agreed value at the end. But if actual ownership doesn’t bother you, and you stick to the terms, you can’t go far wrong.