Motorcyclesrule1 Posted February 3, 2023 Posted February 3, 2023 Hi People, I am coming to the end of my PCP deal, and can`t decide if I should get another PCP deal, but, want to change manufacturer, or just to buy a decent second hand bike? Any ideas please? Not much profit off bike, due to getting cheap deal last time.. Looking for a tourer type bike.. Thanks in advance... Quote
Stu Posted February 3, 2023 Posted February 3, 2023 Hmmm tough one! If you want a new bike every 3-4 years then do another PCP deal if you would rather spend a bit less and own the bike at the end of it then second hand on HP or bank loan Quote
Bender Posted February 3, 2023 Posted February 3, 2023 I've never been a lover of pcp of finance but sometimes it's a necessity, I would buy if possible in favour of any other option. Quote
Gerontious Posted February 3, 2023 Posted February 3, 2023 When I bought my bike the difference between the PCP deal over 3 years and a Bank loan over 5 wasn't that great. to my mind continual PCP's every 3 years is the 'never never' gone mad. 2 Quote
bonio Posted February 4, 2023 Posted February 4, 2023 I think pcps work well if you're committed to getting a new bike every 3 years. They're completely hassle free. But an expensive way of keeping a bike. They create a great supply of barely ridden, well-looked after, secondhand bikes, though. Unless I wanted the latest model, I'd look at going down that route. It's a good time to get a good deal, with the new plates coming in soon. 1 Quote
Mississippi Bullfrog Posted February 4, 2023 Posted February 4, 2023 It's a very personal choice. I've never had a PCP deal and never will. I usually buy second hand and keep them for years. I only bought the Bobber new and thr guys who went for PCP deals on them generally regretted it. Quote
daveinlim Posted February 4, 2023 Posted February 4, 2023 I'd vote for second hand. You're not trapped in a pcp deal if you no longer like the bike. You can mod it without worrying about the terms of your PCP deal. Sell it or trade it easier and you'll likely lose less money that paying interest on a depreciating asset 1 Quote
Motorcyclesrule1 Posted February 4, 2023 Author Posted February 4, 2023 Thanks for your views People... Appreciate it... 2 Quote
exportmanuk Posted February 4, 2023 Posted February 4, 2023 (edited) I have twice taken a PCP deal then after a shortish time got a bank loan and transferred it. The PCP deals have been better offers, just got a new bike on a 3 year PCP but I will pay it off in the next 12-18 months either a bank loan or from pension pay out Edited February 4, 2023 by exportmanuk 1 Quote
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