Africa Twin for £25/ month - surely this is the WORST finance proposal ever imagined!?!

[92kk k100lt 193214]

Horses for courses.

As for miles, well I put new tyres on last 21st October. Looking at the bike on Monday realised I am now about needing a new front tyre. When I got the tyres on the guy in the shop laughed when I told him I would need new tyres in March and to order another set for then. Nothing wrong with the tyres, just wearing out due to lots of miles.

4,000 miles would do nothing for me. 3 months at best.

I don't do mega miles but I do use the bike all the time.

As for 111 miles a month......I meet my friends for coffee, it's 112 miles each way.

I am definitely not normal, at best unconventional and quite happy to do steamship miles to some of the nicest places around and sleep in a tent in places that have priceless views. My round trips to Antrim usually hit me for 8-900 miles and take in some stunning roads. My trips down to France put 1,500-2,000 miles on and wouldn't swap them for anything. Done all the required jobs on the old K and about to fit a new rear when bearing in the final drive as the last big ticket item. Thing about the old bikes is there is no depreciation so you have money for other things.

There is quite a share of members on here who have older bikes and just enjoy them for what they are without worrying is it last years model. But we need someone to be buying the new ones and eventually passing them on to those who are happy with something older.

The big but in it is that if you can't do maintenance and have to pay main dealer workshop prices for service its best to stay with the PCP options and enjoy a warranty and hopefully reliability. But if you are reasonably handy on maintenance then that's not quite so critical.

[Mike101]

You can increase the mileage on the deal. Most PCPs will go up to 20k a year.

It's not that bad a deal if you want a nice new bike and not own a depreciating asset. There is a reason why rich people only buy assets that increase in value.

Don't get hung up on having to own a bike.

Last year I looked at a F800gs...2k deposit....15k miles per year...£95 per month over three years.

Mike

[TomBoyNI]

You can increase the mileage on the deal. Most PCPs will go up to 20k a year.

It's not that bad a deal if you want a nice new bike and not own a depreciating asset. There is a reason why rich people only buy assets that increase in value.

Don't get hung up on having to own a bike.

Last year I looked at a F800gs...2k deposit....15k miles per year...£95 per month over three years.

Mike

What was the final payment, that sounds similar to the deal I had. I was happy with it, this one seems a bit underhanded in its wording to me though.

[dibbs]

There usually is around a £5-6000 balloon payment at the end or just enough (roughly £2000) in the bike to use as a deposit for the next one! if you stick with the same manufacturer. My plan is to either give back the Africa Twin and get a new DCT one or keep mine and just re finance the £5000 balloon ie get a personal loan or something, as Mike said why spend your own cash when you can borrow cheap money for a depreciating asset! As said its not for all but I like new stuff and can afford the payments etc so it works for me (thumbs)

[Brads]

So let me get this straight.

It`s a 37 month interest free deal to buy a new bike and you think it`s the worst deal ever ?


What exactly would you like ? A free bike ?

No matter what way you look at it, or what payments there are, it`s interest free.

Put the money away every month on top of the payments and job done surely ?

Why would a low rate loan be better ? because you get to pay interest to a loan company ?

Sorry, you`ve beaten me , I have no idea why and interest free PCP is a bad deal.

[ledwardio]

There usually is around a £5-6000 balloon payment at the end or just enough (roughly £2000) in the bike to use as a deposit for the next one! if you stick with the same manufacturer.

No need to stick with the same manufacturer as far as I'm aware, though I'm sure they'd like you to think there was.

[ledwardio]

I also don't think it's a particularly bad deal for some people - plenty of people don't do 4k miles a year. It doesn't suit me however as I do about 9k

I think the thing is not to look at the balloon payment as something you'll need to find, as most people will chop it in for a fresh one. That said, I haven't taken the PCP route, yet.

[bowber]

Can't see the problem, if you've got the cash just put in a high interest account and pay the monthly from it and at the end you hand over the rest, you'll have made a tiny amount of interest as well.
Or see how much you can get off for cash, bet it's not much these days though.

Years ago my mate bought a bike on 0% finance, he had the cash but thought it'd be better in his account that the dealers so that's what he did

Steve

[AlanHolt]

It's very clever marketing to sell more new and used AT's by almost claiming that the AT will depreciate less than other bikes by reducing the monthly payment.

[cadoganpier]

It's a bloody great deal. The mileage overage only works out at £47 per 1000 miles, not a lot and if you are keeping the bike not an issue.