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125cc motorbikes on finance?!?!

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Jonescasual92
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Joined: 03 Apr 2014
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PostPosted: 00:59 - 12 Apr 2014    Post subject: 125cc motorbikes on finance?!?! Reply with quote
Hi all just wondering if you could share any decent uk dealership sites that accept finance payments. Ideally after a ybf125 in black so if you know where ones going on finance id be greatful. If not then just a name of some websites. Cheers! -dan
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Rogerborg
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Joined: 26 Oct 2010
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PostPosted: 10:03 - 12 Apr 2014    Post subject: Re: 125cc motorbikes on finance?!?! Reply with quote
Jonescasual92 wrote:
ybf125

YBR or YZF?

Not that it matters, since as noted most main dealers will have "Can't afford it? Just finance it!" deals available on new bikes.

PCP (Personal Contract Purchase) is likely to be the cheapest option, but it will tie you to that bike for the duration of the contract. I think I'd go insane in the membrane being stuck on the same 125 for 3 years. Better to get an unsecured personal loan if you possibly can, it'll give you much more flexibility.

That said, why not just try the nearest Yamaha dealer and see what they say? They have bikes, you want a bike, that's what they're there for.
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GONE: HN125-8, LF-250B, GPz 305, GPZ 500S, Burgman 400 // RIDING: F650GS (800 twin), Royal Enfield Bullet Electra 500 AVL, Ninja 250R because racebike
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dydey90
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Joined: 01 Oct 2013
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PostPosted: 10:21 - 12 Apr 2014    Post subject: Reply with quote
I looked at getting a personal loan, but you need to borrow a minimum of £6000 for the interest rate to drop far enough.

If I remember right, the bank wanted 16% and the dealership 4.5%.
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j.silvs
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Joined: 01 Dec 2012
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PostPosted: 11:05 - 12 Apr 2014    Post subject: Re: 125cc motorbikes on finance?!?! Reply with quote
Rogerborg wrote:
Jonescasual92 wrote:
ybf125

PCP (Personal Contract Purchase) is likely to be the cheapest option, but it will tie you to that bike for the duration of the contract...


Not necessarily. You can still come out of the contract and change bikes as long as your not in negative equity.

Also, there is the old "termination rights" which allows you to give back the bike/car half way during the term with no problems to credit score etc. but don't expect your deposit back.
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j.silvs
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PostPosted: 11:06 - 12 Apr 2014    Post subject: Re: 125cc motorbikes on finance?!?! Reply with quote
Double post
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orangepeeleo
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Joined: 30 Mar 2010
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PostPosted: 12:29 - 24 Apr 2014    Post subject: Re: 125cc motorbikes on finance?!?! Reply with quote
j.silvs wrote:

Also, there is the old "termination rights" which allows you to give back the bike/car half way during the term with no problems to credit score etc. but don't expect your deposit back.


Effectivley renting a bike for a year or 2 (depending on length of agreement obv)??

When I finance things I just pick the shortest timeframe I can afford, depending on cost that could be 1 year (for my bike atm) or 3 years (for my current car)

I've bought every vehicle I've ever owned on finance, when I bought my first car I was in the army based in Germany, bought a £12k Ibiza Cupra brand new at around £250pm! pretty much everyone on that camp did the same, you'd have 20 yr olds driving round in brand new focus ST's that cost them 18k lol

I know shit all about bikes or cars so would rather buy new/nearly new from dealers on finance than get fked (knowingly or not) over by private sellers selling me heaps without me knowing.

Just stick the deposit on a credit card to give you a bit more weight with the dealers if things go wrong early on Smile
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j.silvs
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PostPosted: 08:16 - 26 Apr 2014    Post subject: Reply with quote
Yeah in essence would be like renting.

But at the same time you will end up loosing more money on most bikes after you finish paying it.

It's why people go for PCP nowadays. As it's like renting!
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i.p.phrealy
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Joined: 07 Oct 2012
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PostPosted: 18:56 - 27 Apr 2014    Post subject: Reply with quote
remember you'll need fully comp insurance, and gap insurance as you don't own the bike until you pay it off.
if it gets nicked after a month you'll be massively out of pocket without gap insurance, as I found out. Mad
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wr6133
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Joined: 31 Dec 2013
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PostPosted: 19:14 - 27 Apr 2014    Post subject: Reply with quote
j.silvs wrote:

It's why people go for PCP nowadays. As it's like renting!


Like handing over fistfuls of cash to own b-all then?

I'm old fashioned I'd rather own something shite than owe on something shiny.
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j.silvs
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PostPosted: 19:27 - 27 Apr 2014    Post subject: Reply with quote
You don't 'need' gap insurance. Just recommended

Why was you out of pocket from gap?
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i.p.phrealy
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PostPosted: 20:18 - 27 Apr 2014    Post subject: Reply with quote
j.silvs wrote:
You don't 'need' gap insurance. Just recommended

Why was you out of pocket from gap?


because my insurance company didn't offer me it when I insured the bike, and as it was my first bike I didn't know about it.
they paid out the value of the bike (minus the excess) leaving me owing £200 to the finance company.
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Dave70
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Joined: 21 Jan 2012
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PostPosted: 23:16 - 27 Apr 2014    Post subject: Reply with quote
Keep an eye out for special offers. I got my bike on 0% interest and also got a few hundred quid knocked off the price too. I know Yamaha often have such offers on for limited periods at a time and only on specific models. I don't know but, I'd guess other bike manufacturers do too.

Happy hunting. Thumbs Up
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