I don't think it makes a difference does it? And the downside is that if you wish to sell early you'll be in negative equity. That's where I am now You lose even more if you swapped while in negative equity if you put down a large deposit (deposit + neg equity). I suppose you would get out of neg equity quicker, but if you like to change bikes often then you should go for short PCP deals. The GFV technically shouldn't change much depending on the deposit you put down. Your monthly payments will change, but over the life time of the policy it normally works out better to put down less deposit. The GFV is generally mid range for predicted trade in value. So say your GFV is £4500, but when it comes to trading in, the bike is valued at £5500. If you put down a deposit of £500, then £500 is "profit". If you put down £2000 deposit then you don't see the "profit" at all. This assumptions are of course interest free. Do the maths with the different interest rates to work it out.