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Offline Mumbo Jumbo

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PCP residual values
« on: May 20, 2018, 09:51:51 PM »
Hi S1000XR forum,

I’m considering a PCP on a new SXR and was wondering what members experiences were when it came to the end of the deal. Did the value of the bike give you you’re deposit back to contribute to a new bike ? I thinking of putting £2k up front but I’m not sure if it’ll disappear when I come to change.

Cheers for the advice.

Hopefully I’ll see you in a the Durham dales on a motorsport blue

Offline Waynexr1000

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Re: PCP residual values
« Reply #1 on: May 20, 2018, 10:09:03 PM »
I’m on my third bike on pcp and it works for me first time I had a part ex and had to give them my bike and around a grande I think it was
Second bike I put 2grande but they were giving away free sat navs on s gs
And I sold my rack and top box for 600 quid so only cost me 1400 to change there’s always a prime time to change when you have paid enough off the one u have and it’s still worth a good trade in
My mates think I’m mad the biggest thing to worry about is the interest rate imo
My mate and me have swapped bikes on the same day three times and yes I have been paying for mine as I’ve gone along but when we came to change most I’ve had to find is 2000 quid deposit where my mate has had to hand over 4500 which is a bigger pill to swallow imo
I like to change my bike every two years so it works for me deposit wise it all depends how much u want to pay a month I never worry about residual value cause I change so often

Offline Waynexr1000

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Re: PCP residual values
« Reply #2 on: May 20, 2018, 10:10:51 PM »
A good thing to do is to put a few quid away each month as well as paying your pcp cause you will always have to pay something to change bikes

Offline Bree

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Re: PCP residual values
« Reply #3 on: May 21, 2018, 08:26:31 AM »
I suppose it really depends on how often you want to change your bike. I agree with Wayne you probably will have to add something to the deposit. But I cannot say as I have never purchased on PCP.
I have not purchased a new bike, for several years now, as I can buy a nearly new one for a very reduced price on new. If you spend some time looking, at used bikes you will find lots of extremely low mileage examples about, many with all of the bells and whistles already on them.
In fact my present XR on a 15 plate, had only 1470 miles on the clock, it included BMW panniers + satnav. It was priced at £9500. I part exchanged my Z1000SX  £6800.00 . So payed the balance of £2700, For me that works out a cheaper option. But then I am not worried about being its first owner, and as I have said you can pick up absolute bargain Low mileage bikes if you shop around.
But I would agree if you want a new bike. Then PCP is an affordable way to Buy. Just do your homework well and work out all of your options, including how much you will have to dish out when it comes to changing. 
« Last Edit: May 21, 2018, 08:28:54 AM by Bree »
Everything  Will Be Alright In The End, If Not Then Its Not The End.

Offline Mumbo Jumbo

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Re: PCP residual values
« Reply #4 on: May 21, 2018, 09:40:59 AM »
Thanks for the feedback guys.  :001:
I’m interested in a new or a BMW approved mainly for the warranty, both come with a 24 months which is very appealing. I’ve had a FaultyStrada before and the S1000XR does appear to have few problems which maybe costly to fix, hence I want the warranty.

Offline Waynexr1000

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Re: PCP residual values
« Reply #5 on: May 21, 2018, 06:35:53 PM »
That’s why I change mine every two years to stay in warranty but I might look at a second hand next time as long as it has two years as well

Offline Bree

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Re: PCP residual values
« Reply #6 on: May 21, 2018, 07:12:44 PM »
*Originally Posted by Mumbo Jumbo [+]
Thanks for the feedback guys.  :001:
I’m interested in a new or a BMW approved mainly for the warranty, both come with a 24 months which is very appealing. I’ve had a FaultyStrada before and the S1000XR does appear to have few problems which maybe costly to fix, hence I want the warranty.
[/color]



I must admit to being mystified as to what the few problems appear to be. I am certainly not aware of any major problems with this bike.
And certainly unaware of any reoccurring costly fixes. Perhaps you could enlighten us as to what you are referring to.    :027:
Everything  Will Be Alright In The End, If Not Then Its Not The End.

Offline Nastyb

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Re: PCP residual values
« Reply #7 on: May 21, 2018, 10:46:42 PM »
Cooper Motorrad at Bolden are offering a 2k deposit contribution on a few bikes including the XR at the minute, might be worth a look at that, might give you some wiggle on a new bike in couple years?

Offline Mumbo Jumbo

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Re: PCP residual values
« Reply #8 on: May 22, 2018, 12:56:43 AM »
*Originally Posted by Nastyb [+]
Cooper Motorrad at Bolden are offering a 2k deposit contribution on a few bikes including the XR at the minute, might be worth a look at that, might give you some wiggle on a new bike in couple years?

Sounds interesting - I took one out on a test ride last week from Cooper Boldon (Sunderland) but they didn’t mention it. Early negotiation stages I guess.

Offline johnboy1984

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Re: PCP residual values
« Reply #9 on: May 22, 2018, 10:03:34 AM »
My first xr was on pcp... I traded my old 954 blade in which covered the 2k deposit and left me about 155 a month on a 3 year pcp iirc... The restricted mileage often puts people off pcp but its a misconception.  The mileage only matters if you intend to hand the bike back,  which imo you'd be silly too as you lose your initial deposit plus what you've paid off the bike.... Also don't be out off by the balloon Paynent at the end, if you do want to keep the bike you can also finance the balloon Paynent.  My current xr I traded my Thruxton R in with 350 mile on the clock, the dealer allowed me 11k on it which was fair tbh.. I bought the triumph cash so it left me a few grand to pay on hire purchase and no final Paynent.  That means I can change this one in a few years and it will only cost the price to change..  Pcp is a great way to own nice things if you haven't got a big whack of cash to throw down (which most of us don't)

 


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