So looking at the new V2 for next season. What do you guys do for funding your toys? Is PCP the way forward? Big/low deposit - bigger/lower monthly payment? Keep/hand back etc. I understand it’s down to personal income/outgoings but just some general thoughts would be appreciated.
I haven't decided yet, I have the money to buy it outright (don't usually walk around with 15k in the bank but have been abroad working with no costs for 6 months) but I did some maths regarding my last Panigale. I purchased it for £8900 pounds and sold for £7300 6 months later after many weeks on Ebay. That's a loss of £266 quid a month, on a second hand motorcycle with the added drama of having to sell it in the end. So I'm either going to pay it outright and skint my self out but not owe a penny, Pcp it for 2k deposit and 216 pounds a month for 3 years, or plaster the new fairings I've got with the family business and ask dad to stick it through the taxman and get it for £12,000.
Whilst on PCP or from the start? If you had £15k in your hand it’s hard to handover. Looking for the best way to lessen the depreciation if there is such a way.
No he means save up the money and buy it after. Sounds like kill joy advice but the most sensible thing to do.
I’ve never wanted to own such a heavily depreciating asset personally. I’ve had two panigales and on both occasions I could have purchased them outright and chose not to.
See this is what I'm thinking, a man with experience then do you after doing it not once but twice reckon that's defo the best way to go?
I understand that theory although buying new the first few years have the most depreciation so I don’t like throwing money away.
I was always taught this, but with everyone going PCP now it's fucked the sense of buying alot of new models outright. Unless your getting a GT Porsche or something your gonna lose some hevay wonga. My brother got a pretty much new M2 Competition for 57k in February, he sold it last month for like 42k, for that amount of time and that amount of money lost he could have leased an Italian supercar.
The dealers want you on PCP as it takes away the big price as they want it to seem affordable through monthly payments plus commission off the finance company.
Exactly what me and my mate were talking about just the other day. Car/bike prices are so high now as the manufacturers know you are going to go down the finance route anyway.
Never had PCP so just wondering what happens if the bike is crashed? Will the insurance pay the full value towards the financing company? Also what happens if there are couple of deep scratches on fairings/swingarm but not enough to make an insurance claim? Planning to buy a a V4s or S1000rr next year so more and less in the same shoes..... not sure which way to go. Maybe PCP is better is planning to keep for 2-3 years and pay full price if planning to keep for 5-6 years?
Surly depreciation is the same regardless of how you purchase it? The method you choose however will depend if you want credit or not, which of course comes with a bag full of interest, unless its a 0% deal!! Isn't Ducati credit about 6% ? Not exactly a great deal. I'm constantly being sent offers from Barclays offering balance tranfers for a fee of 1.9%, then interest of 0% for 24 months.
