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ZX-7R |
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Rogerborg |
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![Post Post](templates/standard/images/icon_minipost.gif) Posted: 18:37 - 20 Mar 2017 Post subject: |
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I wonder how many end up just going straight in the back of Nardo's lorry to Elbonia when the finance is over.
They're owned by the finance company, who won't care who buys them.
Dealers don't have any skin in the game, they're just drop off and collection points for the PCP never-never. The "guaranteed future value" actually reduces their ability to screw over owners with derisory trade-in offers. Plus, they get incentives from Honzuki UK to sell new bikes, not used ones.
Honzuki UK will be delighted to have them out of the country. No lingering warranty issues, more new bikes sold. ____________________ Biking is 1/20th as dangerous as horse riding.
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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DJP |
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![Post Post](templates/standard/images/icon_minipost.gif) Posted: 20:05 - 20 Mar 2017 Post subject: |
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My last 5 bikes have all been bought new.
Bikes don't depreciate like cars and the way that I buy and use them means that the marginal savings from buying used simply isn't worth it to me. ____________________ Suzuki Bandit 1250
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Northern Monkey |
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Hawkeye1250FA |
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DJP |
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![Post Post](templates/standard/images/icon_minipost.gif) Posted: 18:33 - 21 Mar 2017 Post subject: |
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Freddyfruitbat wrote: | DJP wrote: | Bikes don't depreciate like cars and the way that I buy and use them means that the marginal savings from buying used simply isn't worth it to me. |
Hmm, not so sure - would like to see the sums on that. But I suppose it's all about what you consider 'marginal', isn't it? |
OK...
I bought 4 new bikes in the last 20 years so I kept them, on average, about 5 years. Some a bit more, some a bit less*.
And, come trade in time, I got back about 50% of what I'd paid for them (some a bit more and some a bit less).
And I paid, on average, about £6k for them (some a bit more and some a bit less).
So I lost, on average, about £600 per year in depreciation.
I can live with that.
Or I could've bought used and possibly reduced that depreciation to £200 or £300 per year. Or not. Because I'd probably have spent more on maintenance and consumables on an older bike which would have reduced that notional saving.
And even without that, for a difference of a few hundred quid a year I'd rather be riding a new bike. Because I can.
Now, Compare & Contrast with cars: I bought a 3 year old car with 4,000 miles on it for about a third of the list price. That's a no-brainer.
And if I could buy a 3 year old bike with 4,000 miles for a third of the list price then I'd be all over it.
But I can't. In fact, I find the price of a lot of used bikes to be bordering on craziness these days.
*And I've just bought the fifth with which I intend to repeat the pattern. ____________________ Suzuki Bandit 1250
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Rogerborg |
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![Post Post](templates/standard/images/icon_minipost.gif) Posted: 19:53 - 21 Mar 2017 Post subject: |
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Bandit 1250 was, what, £7500 OTR in 2016?
5 year old trade in price is £3,170.
Closer to 40% than 50%. £866 a year.
It's actually a fairly compelling argument, but I'd be astonished if you'd be offered a full 50% back in PX after 5 years, unless it's a particularly desirable model and has been a garage queen. ____________________ Biking is 1/20th as dangerous as horse riding.
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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DJP |
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![Post Post](templates/standard/images/icon_minipost.gif) Posted: 21:13 - 21 Mar 2017 Post subject: |
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Rogerborg wrote: | Bandit 1250 was, what, £7500 OTR in 2016?
5 year old trade in price is £3,170.
Closer to 40% than 50%. £866 a year.
It's actually a fairly compelling argument, but I'd be astonished if you'd be offered a full 50% back in PX after 5 years, unless it's a particularly desirable model and has been a garage queen. |
It's not so much about what I'd be offered, it's about what I'd have to pay.
Some real life examples:
My last bike was a Yamaha MT07. Right now, the cheapest one in MCN is £3,800 and the average asking price is around £4,500.
But I only paid just over £5k for mine brand new and there are several dealers offering pre-reg ones for not much more now (one at £5,300).
Still fancy paying £4,500 for a used one? Me neither.
And I've just bought a Bandit 1250 brand new for a smidge over £7,000. The cheapest in MCN is £3k and it's 10 years old. Shit, dealers are asking over £4k for ones that are 6 or 7 years old.
That's just not attractive to me.
I'm not averse to buying used – all of my cars and most of my bikes have been bought that way. But in a world where even the snotters seem to command a couple of grand, buying used just doesn't add up as well as it used to. ____________________ Suzuki Bandit 1250
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Alex A |
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![Post Post](templates/standard/images/icon_minipost.gif) Posted: 22:54 - 21 Mar 2017 Post subject: |
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Pretty sure iooi is just a cheap ass ![Thumbs Up](images/smiles/thumb_up.gif) |
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![Post Post](templates/standard/images/icon_minipost.gif) Posted: 00:06 - 22 Mar 2017 Post subject: |
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Rogerborg wrote: | Bozzy wrote: | Sorry, I don't want to come across as contrary but PCP is a purchase agreement and not a rental. |
I view it as a lease with a lump sum up front (because why?) and an option to purchase the bike at the end.
Bear in mind that you also have an option to purchase a different used bike for much the same money - they're not doing you any sort of favour. The argument in favour of buying the one that you just leased is that you know its history. |
You can treat it like that if you want to, lots of people do. This can be both attractive or unattractive, depending on your opinion.
I just wanted to address iooi's point regarding not having a bike at the end of the agreement. This would be entirely true if it were a Contract Hire agreement, but a PCP (Personal Contract Purchase) is a purchase agreement, albeit one with the flexibility to be treated like a lease.
Rogerborg wrote: | Oh, and if you ride it too much, you get a bill anyway even if you want to walk away. |
Providing you've paid off 50% of your agreement, you can call the finance company and request a "voluntary termination" even if you've done 20,000 miles more than you said you would when you took out the finance. They can't enforce the mileage charge on a VT, although they may chance asking for it! They don't like customers VT'ing under these circumstances because you're shafting them, but it's true, it works alright! I had a customer do it ![Cool](images/smiles/icon_cool.gif) ____________________ 2004 SV650S >>> 2009 Street Triple R |
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![Post Post](templates/standard/images/icon_minipost.gif) Posted: 00:34 - 22 Mar 2017 Post subject: |
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All sounds very complicated to me.
There is bike I want, here is debit card, now bike is mine. If I can't put it on the debit card, then I can't afford it. ____________________ Currently enjoying products from Ford, Mazda and Yamaha
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Old Thread Alert!
The last post was made 7 years, 31 days ago. Instead of replying here, would creating a new thread be more useful? |
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