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Offline FZZup

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2017 model pcp apr rates
« on: January 15, 2017, 01:14:00 AM »
Bought my 2017 s1000xr in Dec last year. Decided to get a loan at 3% to majority finance it. Seemed a better fit for me after doing the sums based on pre-2017 pcp rates of 5.9% which I  had been quoted. My man maths made the cost difference after 3years about  1k£ In favour of loan.

 Happened to get chatting to a guy today thinking of chopping his gsx1000s in for 2017 S1000xr model. Was kinda surprised current 2017 pcp rate he was quoted had increased to 9.6%. Cross checked on BMW site and this seems going rate for higher end models in BMW range. Anyone else pick up on this?

Where I was perhaps on the fence wrt pcp vs loan for 5.9% rate, the current rate of 9.6% does look quite a bit more painful... :087:

Offline roger z1b

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Re: 2017 model pcp apr rates
« Reply #1 on: January 15, 2017, 08:01:43 PM »
I  have a bike on order March 1st.  ~If that's the case it'll push me away from PCP I should think.  Pity, i was half going to go that way for the first time.

Offline Bob S

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Re: 2017 model pcp apr rates
« Reply #2 on: January 15, 2017, 08:39:53 PM »
Rate for the XR has gone up from 5.9 to 9.9%. Some 1200GS's are 5.9% others are 9.9%. If you are borrowing £7500 you can get personal loans from 2.9%.

A bog standard XR at £12550, paying £150 a month over 3 years, with a deposit of £2688 will have a final payment of £9862  making a total of £14965, a finance cost of £2415.

With the same deposit of £ 2688, a personal loan at 2.9% for £9862 over 3 years would cost £286.20 a month with a total paid of £10303.20, a finance cost of £441.

A standard 1200GS Adventure is £13200 on the road and this has the 5.9% rate for the PCP.  Putting down the same deposit as above (£2688) means a monthly payment of £137 a month over 3 years, with a final payment of £7259, ,meaning a total paid of £14730. That makes a finance cost of £1530.

You can see the difference between 5.9% and 9.9% illustrated very starkly here. The GS is £650 more expensive to buy but the monthly payments are lower and the finance cost is £885 lower as well.

Offline roger z1b

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Re: 2017 model pcp apr rates
« Reply #3 on: January 15, 2017, 09:19:04 PM »
Nicely put Bob,  you can see which bike BMW intend to make their money on this year.

Offline FZZup

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Re: 2017 model pcp apr rates
« Reply #4 on: January 15, 2017, 10:10:45 PM »
Don't think the pcp hike is just limited to BMW.

Before xmas I was also looking at Kawasaki  Z1000sx as a possible alternative to s1000xr so test rode and got  pcp figures for both.

For 2017 Kawasaki pcp rate on z1000sx has also jumped from 5-6% to 9%.

Perhaps this a wider motorcycle  industry thing to make hay while the sun shines on the popular models.


Offline cas

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Re: 2017 model pcp apr rates
« Reply #5 on: January 15, 2017, 10:18:55 PM »
Seen pcp deals with Suzuki and Triumph now.

Online Gazk

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Re: 2017 model pcp apr rates
« Reply #6 on: January 16, 2017, 12:57:55 PM »
Hi Fzzup; for god sake don't get the Z1000sx, I had one possibly the worst bike I have ever had.... the most uncomfortable seat in the world ever the handling was dreadful, I spent a full day pratting about with the suspension settings and it was just about passable. 

The first test ride I did on the XR was ok it goes round corners like it's on rails "I did two test rides at two different BMW centres". 

Just to put it into context my last 5 bikes before Z1000sx where Kaw ZRX1200s for 4 years I did 54K +, BMWK12000s 20K +, BMWK1300s 7K and another K1300s 10K  and then a F800st 8K "great fun, road it off the sides of the tyres every where but no power". arr there is a Bonneville in there as well but I only had that for six months and did 1000 miles on it.

As for the finance options:

I’d look at it this way; money you can always earn more money or spend a little less "right"!

The question you need to ask yourself is, after doing all your diligence fact and figure checking, is do I deep down want this bike?  “buy the way the answer is yes

Another way to look at is the amount you spend divided by the joy in your hart, because the only thing that matters at the end of the day is are you happy…… don’t skint yourself as you need to live life to be happy, nights out, pub and so on but being happy is very important.

Not sure this helps on the Math of it all but you do buy a bike with your heart first and the wallet second.
After over thirty years behind the bars, I’ve still not done it all or seen it all.

https://www.youtube.com/user/emmanuelgoldstein1

Offline Bob S

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Re: 2017 model pcp apr rates
« Reply #7 on: January 16, 2017, 01:11:42 PM »
*Originally Posted by cas [+]
Seen pcp deals with Suzuki and Triumph now.

The Suzuki PCP rate is 8.9% across the board and the Triumph rate varies from 6.9 to 9.9%

Offline FZZup

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Re: 2017 model pcp apr rates
« Reply #8 on: January 16, 2017, 01:30:14 PM »
Hi Gazk, Thanks for advice - concur completely with your thoughts. Don't worry my heart and soul is safe. I bought S1000XR before Xmas (see original post). 

Test rode the Z1000SX and S1000XR one after the other. ( Rode the S1000XR to the Kawasaki dealer,  jumped on the Z1000SX, test rode it, then jumped back on S1000XR back to the BMW dealer).

My criteria for choosing the S1000XR in the end came down to this simple observation. I opened the Z1000SX fully up in 2nd and did not scare myself. The S1000XR on the otherhand scared the beJesus out of me!

Reason for original post was really to highlight changes in the PCP APR, to help members make an informed decision on 2017 bike purchase. I deliberated long and hard on PCP vs loan. Either way  I was getting the bike for all the reasons you state and money was not going to stand in the way.
 

 


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