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Changing finance and returning bike?

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callum94
Nova Slayer



Joined: 17 Dec 2012
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PostPosted: 21:34 - 19 Jun 2013    Post subject: Changing finance and returning bike? Reply with quote

I have found this https://www.ebay.co.uk/itm/2008-Honda-CBF-250-Only-3-405-Miles-Full-Honda-Dealer-Facilities-/171060640741?pt=UK_Motorcycles&hash=item27d4023be5

My question is can you change finance on a motorcycle and return the old motorcycle to the store. My CBR currently costs £90 finance a month and £80 a month insurance, but this CBF250 would cost me £97 a YEAR and the finance might be cheaper.

This is the same store I bought my current bike from so would they accept it back if I cancel the finance and change the finance for this 250?
https://s17.postimg.org/ye5ewkv4r/insurance.jpg

EDIT : I'm going to phone them tomorrow after work and hope they still have it. I'm just hoping for the best.
____________________
Current: CBR 125R 2012 (Black)
Restricted licence (33hp): 09/12/12


Last edited by callum94 on 21:39 - 19 Jun 2013; edited 2 times in total
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Nexus Icon
World Chat Champion



Joined: 26 Aug 2010
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PostPosted: 21:36 - 19 Jun 2013    Post subject: Re: Changing finance and returning bike? Reply with quote

callum94 wrote:
I have found this https://www.ebay.co.uk/itm/2008-Honda-CBF-250-Only-3-405-Miles-Full-Honda-Dealer-Facilities-/171060640741?pt=UK_Motorcycles&hash=item27d4023be5

My question is can you change finance on a motorcycle and return the old motorcycle to the store. My CBR currently costs £90 finance a month and £80 a month insurance, but this CBF250 would cost me £97 a YEAR and the finance might be cheaper.

This is the same store I bought my current bike from so would they accept it back if I cancel the finance and change the finance for this 250?


Yeah, you should have no problem doing that at all. Go talk to them. It won't be as simple as cancelling finance but it is possible to swap finance onto the new bike.
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Last edited by Nexus Icon on 21:37 - 19 Jun 2013; edited 1 time in total
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The Disapproving Brit
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Joined: 10 Sep 2008
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PostPosted: 21:37 - 19 Jun 2013    Post subject: Reply with quote

Ask them. They certainly don't have to, and best you could probably hope for is them giving you a part ex value on it. Still, you might get lucky.
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Current Bikes: 1983 Honda VF400FD / 2003 Honda VT750 Shadow
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Wonko The Sane
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Joined: 20 Jan 2013
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PostPosted: 22:37 - 19 Jun 2013    Post subject: Reply with quote

As above, you'll probably find that you end up trading the old bike in with hopefully enough to buy out the finance left on it to then take out a new finance on the CBF250


Not sure how that is an 'F' since I thought F stood for the faired model...
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j.silvs
World Chat Champion



Joined: 01 Dec 2012
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PostPosted: 05:31 - 20 Jun 2013    Post subject: Reply with quote

If you have had the finance on your bike for half the period you could simply call up the finance and tell them to take the bike and it will be cancelled. Credit rating won't b touched neither.

If it is less than half the period then you may have to put some money in.

As long as your not in negative equity you should be fine or as said, if it's half the period or more you can simply hand it to finance company
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iooi
Super Spammer



Joined: 14 Jan 2007
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PostPosted: 06:12 - 20 Jun 2013    Post subject: Re: Changing finance and returning bike? Reply with quote

callum94 wrote:
My question is can you change finance on a motorcycle and return the old motorcycle to the store. .


That will all depend on the type of finance you have.

But if the bike is valued less than the outstanding balance you will still have it to pay.
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Just because my bike was A DIVVY, does not mean i am......
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Turkish
Crazy Courier



Joined: 09 May 2012
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PostPosted: 06:54 - 20 Jun 2013    Post subject: Reply with quote

You actually agreed to a £960 premium on a 125? You could buy one outright for that!
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CBR125R RW6
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TheSmiler
World Chat Champion



Joined: 14 Apr 2011
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PostPosted: 07:10 - 20 Jun 2013    Post subject: Reply with quote

The old motto goes "You won't know until you ask".

So ask.
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CB125>CG125>GN125>ER5>K100RS>R1100RS>K100RS
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callum94
Nova Slayer



Joined: 17 Dec 2012
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PostPosted: 09:23 - 20 Jun 2013    Post subject: Reply with quote

Ok thanks guys. I'm going to ring up about 10 today (when the store manager arrives, which is who I bought my current bike off) and see where it goes from there.
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Current: CBR 125R 2012 (Black)
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