Hi all. I joined the forum a while back as i'm after getting a ducati 999. with having a new house and stuff I've come to realise saving 5k for a tidy 999 is going to take a long time, so I've started looking into getting a bike on pcp. As I don't like the look of the panigales and I want to keep my zzr600 for trackdays I've been eyeing up the streetfighter 848 as I've read tons of good reviews on it and I love the look of it (isn't that what it's all about?) - its one of the few current bikes out there including sports bikes I actually like the look of, the other being the gixxers in their moto gp colours but that still wouldn't kerb the ducati craving. I just wondered who else out there has got a bike through ducati on pcp and if it works out well at the 3 year point when it comes to chopping it in against another new model, as I doubt i'd have the remainder in cash to pay off and I would hate to just give it back after 3 years. Dealers are asking for 8k for 3yrd old 848's and the guaranteed future value of the 2015 model is 6 and half k, with the mark down dealers give out when pxing bikes i'm working this out that I wouldn't have any equity in the bike to use as deposit for a new one at the 3 year point if that makes any sense? I've got shit credit history too but hoping come November when my current loan is paid it'll look a lot better so I hope I can get pcp in the first place... cheers
If you can manage it just get the 848 SF 2nd hand on finance they are a really fun bike to ride and you might not want to get rid of it
Imho, unless you do very little miles you will simply be handing back the bike at the end. Having just gone thru the process at yr2, my bike trade in is less (considerably with some dealers!) than the outstanding balance, my dealer has done me a great deal So there is no way it will give me anything back at the end, I treat it as a depreciation offset against interest. Only issue is its 2k interst on a multi regardless how much you put down and it grates a little...but a loan will cost a grand and you have all the risk so overall I reckon its about even.
PCP's are devised so that you should have a little ( but not much) equity in it at 3 years otherwise it doesn't work for Ducati either if everyone is just handing back bikes worth less than the finance outstanding. The downside to a PCP, as Bradders has found out, is that to change earlier than 3 years usually means there is more finance outstanding than value in the bike.
mmm. a lot to think about. I had an email from ducati ayesbury after requesting a test ride on the website. saying they've got none new but 2 used...so that rules pcp out anyway. I ooked on mcn for them but only had pics of one and it's in black...I want a red one! thing is with pcp there's always that risk too of in 3 years time ducati not doing any bikes I like, so it'd either be hand it back or go for a straight forward finance deal on the remainder of the balance if they allowed it. I can't see ducati doing the sf for much longer. the fact they've got none new in stock says it all to me, and I hate the rest of their current line. really torn what to do. but the best option probably is to get a 2nd hand one on finance. I just hate idea of paying through the nose for something that someone else had enjoyed before mem and possibly thrashed within an inch of it's life
I have my 848 on pcp. It is just coming up to 2 years and decided to get rid of it for sonethibg cheaper to just leave in the garage as I really don't do enough miles. Value is slightly more than the outstanding finance (owe £7400, value about £9). Trouble is I keep changing my mind so now looking at not quite so cheap dukes again...
When your PCP ends in three years time, you don't have to replace it with another Ducati. Any other dealer/manufacturer can take your 848 in p/ex and pay off the balance of the finance .
It is possible to get PCP on second hand bikes, never done it but have seen someone advertising it and my local dealer was prepared to do it on a used multi. Not Ducati PCP though.
Yeah you can get a PCP on a vehicle up to 3 years old. That's what I did when I bought my Multi, instead of the Ducati Tri Options, it was Black Horse who did the PCP. The only downside was that the Black Horse PCP had a higher rate of interest than a new shiny Tri Options bike.
With bad credit history you'll get shafted for a decent rate whoever you go with. Just got the wife a shiny new cage from VW; they offered 9.5% APR which i laughed at them. Bank basically giving away dosh at an APR of 2.1%. Worth shopping around.
Personal loan at a low rate, buy second hand, let someone else suffer the depreciation and high interest rates. My mate got a used bimmer on pcp, we worked out that for an 8k bike he'd pay 11.5k over the 3 year period if he payed the balance off to keep the bike. To me, pcp works if you ride a lot, are happy to pay monthly ad infinitum and always want the next best thing. Which I'm not, I ride a lot but I'm from Yorkshire so I'm tight by nature! after that its a numbers game with the warranty, will the cost of potential repairs exceed the amount you're paying extra for the 'priveledge' of owning a new bike? Probably not, that's why they can afford to offer warranty. Obviously some folk will lose out in this scenario but its a gamble I'll take rather than paying to prevent against it all the time.
I couldnt raise the 2.5k deposit for a new hyper. I only had a grand and managed to get an 18 month old one on pcp from ducati main dealer. Costs 120pcm...without checking i think the final payment is 4k...they will refinance this if you want to keep it. They did this through lloyds who do the tri optons..i would imagine all the dealers will do it.
Signed the pcp agreement on the multi this morning, happy with 8.4% over 3 years and the options at that point. Not for everyone but fit my needs very well
Did mine on a pcp put 2k down with final payment of £4400, which I paid off a sold it for £7200 privately. Not a cheap way of buying a bike. In hindsight 0% credit card would have been a better plan with the deals around recently, kept it 3 years so paying £200 a month off a card would have paid off £7200 of the original price of £9300 so I would be near £5k back in my pocket plus no deposit. Cracking bike, like a BMX on steroids
