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Ok guys. I have a bit of dilemma
I purchased my GT in Dec 2017 (when they were selling them for £10999.00)
At the time of purchase l had a garage full of bikes, so a PCP deal seemed tempting at the time.
My question is. How many of you guys purchased the same way as me and what are you likely to do. Hand it back, keep it and pay the balloon payment (which is about what the bike will be worth in December)
The bike is mint and has 6k on the clock.
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I've never done it on a bike but I have a few cars on PCP. I always give them back and start again. Sometimes you lucky and get a bit of cash back for the next deal but not always.

It really depends on if you think the bike is worth keeping and how you plan to pay off the balance. If you can do it in cash then it might be worth it, if however you need to refinance the remaining balloon payment then you would have paid a lot in interest overall and it might be cheaper to start again
 
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Adz’s reply sums it up.
Do you want to commit to longer term ownership...I probably would as it looks great and you must like it.
But I can’t bring myself to go PCP on cars or bikes. We have always paid cash but a low interest rate that we can beat with our retirement investments would be an option.
 

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I am buying a new bike this week

Manufacturer is offering low rate finance so worth doing

Deal is set up on a PCP (never had one before) - but in 3 years time the balloon is 50% of today’s RRP

Monthly payments are £90/month and I get cash back for my p/ex

However as I like to keep my bikes usually, I am thinking of swapping it over to HP today as the monthly payment will only be £60 more per month if I chuck in the full value of p/ex


But I will have no balloon to find in 3 years time
 

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I’ve been told that is the best way to get the pcp deals but without the 3 year cycle.
 

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I am buying a new bike this week

Manufacturer is offering low rate finance so worth doing

Deal is set up on a PCP (never had one before) - but in 3 years time the balloon is 50% of today’s RRP

Monthly payments are £90/month and I get cash back for my p/ex

However as I like to keep my bikes usually, I am thinking of swapping it over to HP today as the monthly payment will only be £60 more per month if I chuck in the full value of p/ex


But I will have no balloon to find in 3 years time
Myself I would forget about the PCP then in 3yrs time no massive payment to worry about, I did a PCP on a car once NEVER AGAIN FOOLS GAME.
 

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Myself I would forget about the PCP then in 3yrs time no massive payment to worry about, I did a PCP on a car once NEVER AGAIN FOOLS GAME.
I agree and understand

I have chucked my old bike in as p/ex at full value, rather than take half of it back as cash and gone down the normal HP route

£50/month more over 3 years and not faced with a £4700 balloon

PCP looks cheap/month .....until you do the sums
 

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Aye, never made sense to me PCP. 3yrs of payments with nowt at the end v's HP which is a little more, and you end up with something tangible.
 

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Its interesting. No such thing as a free lunch and PCP isn't there to help you out.....Anyhows, mechanic I know says its the best way to go with modern cars, especially European. Says after the 3 years it will cost you a fortune to maintain, now he also said if you're going to buy a car buy Japanese.

So i'd say if youre happy with monthly payments, give it back and get a new bike.
 
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