Whether you buy a bike with cash or go down the Hire Purchase or PCP route, you’ll need to finance your motorcycle. Whether it’s new or used, a private sale or from a dealer, we’ll help you work out the best option to help you fund a new bike.
All good things come to an end even though, when you sign your motorcycle PCP agreement, you’re probably only thinking of the good things that are about to get going. When your PCP term finishes, you have three choices: Pay the balloon payment and the bike becomes yours Hand back the keys and walk away […]
What happens at the end of my motorbike PCP agreement? Read More »
Table of Contents Need A Release From Your Finance Agreement? How Can Voluntary Termination (VT) Help? Just because it is easy to obtain finance for your next bike purchase, it doesn’t necessarily mean you should. In a matter of minutes, you can be easily swayed by a shiny new set of wheels, just waiting to
Yes, it’s not just new motorcycles and scooters that are available with finance packages like HP and PCP. You can spread the cost of a used motorcycle with monthly payments and the most common options are HP and PCP. Most dealers will be able to offer you flexible HP and PCP offers – but you
These days it is easier than ever to finance your new motorbike purchase. Whether you are buying new or used, looking to pay a deposit or to spread the cost of your finance over a fixed period, there is an option to suit nearly every buyer. Table of Contents If you do choose to enter
Table of Contents Know Your Interest Rates – Representative APR vs Exact APR If you are thinking of purchasing your next motorbike using a loan or other finance agreement, be sure that you understand all of the financial jargon before you sign on the dotted line. You probably are already aware that loans and finance
If you are thinking about purchasing your new bike on a personal contact purchase (PCP) agreement, you will need to take note of the optional final payment amount. This is the figure that reflects how much you will need to save up or find at the end of the lease term, should you wish to
If you are planning on buying a new bike on finance, it is important to find out much it will cost you, should you decide to keep it at the end of the term. This is called the “Residual Value” and this figure should be made clear to you before you sign on the dotted
GAP stands for Guaranteed Asset Protection and it is a financial product you can buy which will cover any shortfall from the insurance company payout should your financed motorcycle or scooter be stolen and not recovered or written off. Table of Contents How does finance GAP insurance work? Let’s say you buy a motorcycle for
People are wary of finance and for good reason – often it’s helping you buy something that you otherwise couldn’t afford to buy outright. But most of us are happy paying a bit more, for the privilege of being loaned the full amount to pay off over a time period that’s more convenient. Table of
Motorcycle finance – watch out for the early upgrade offer Read More »
Who’s planning on dying? Not us! As motorcyclists we have a lust for life but we’re all too familiar with the potential to shuffle off this mortal coil. Despite what your friends and family might think, you’re not planning on dying any time soon. Table of Contents Death is never an easy subject but it’s
What happens to my motorcycle finance agreement if I die? Read More »
If you purchased your bike using finance, certain circumstances can burst the bubble of your easy repayment dreams. Dealerships promote the use of finance as an easy way to buy your bike, as well as the opportunity to upgrade or trade in just a few years down the line. In some cases, however, your dream
Motorbike Finance: How To Navigate Negative Equity Read More »
Table of Contents What is GMFV and GFV with PCP motorcycle finance? Unfortunately, motorcycle finance is littered with acronyms. There are so many it would be easy to become a bit blasé but if you’re looking at PCP finance, there’s one you should never ignore: GFV or GMFV which stands for Guaranteed (Minimum) Future Value.
Table of Contents APR stands for Annual Percentage Rate of charge. Essentially it’s a figure that shows you the annual cost of borrowing – it’s what you’ll pay on top of the money you borrow – whether it’s a bank loan, a PCP or HP agreement. The higher the APR figure, the more the loan
Table of Contents The motorcycle industry is catching up with the car industry when it comes to finance offers. You’ll see lots of dealers talking about Hire Purchase (HP) and Personal Contract Purchase (PCP) finance. More and more manufacturers are now offering 0% finance deals. How does 0% finance work? Essentially interest-free finance is a
The vast majority of motorcyclists use some kind of borrowing to buy a new motorbike, and motorcycle manufacturers are keen to make finance as easy and flexible as possible. In theory, a bank loan still offers the lowest interest rates, but in practice dealing with the banks isn’t always as easy as it could be.
Choosing: Motorbike Hire Purchase (HP) or Personal Contract Purchase (PCP) Read More »
Hire Purchase finance is a loan, secured against your motorcycle, which you pay off in monthly installments and when you’ve finished your finance term, the motorcycle belongs to you and is yours to do what you want with. Table of Contents How does HP motorcycle finance work? When you buy a motorcycle or scooter on
If you are in the market for a new motorbike but know that your credit rating is suffering from previous mishaps, there are still ways to obtain your new set of wheels using a finance package. The payoff, however, is that lenders who cater to those with poor credit ratings may charge extortionate amounts of
A deposit contribution is often mentioned when a manufacturer is offering a new motorcycle finance package. Is a deposit contribution the same as a discount? The short answer is no but the slightly longer answer is: it can be. Table of Contents How does a deposit contribution work? Let’s say a motorcycle has a £10,000
You never know what the future has in store and often you’ll want or need to settle your PCP motorcycle finance before the end of the term. Terminating the agreement and settling early is entirely possible but it’s likely it’ll cost you a lump sum to do so. Table of Contents Voluntary Termination If you’ve
With credit card companies offering favourable deals, and 0% balance transfers, is it preferable to pay for bigger purchases, like a new motorbike or scooter on your credit card? Table of Contents Hire purchase agreements and lease agreements are usually tied to the bike you purchase, but your credit card allows you a greater deal
Should I Use My Credit Card To Buy My Next Motorbike? Read More »
Twenty-five years ago, pretty much the only way you could buy a motorcycle was with cold-hard-cash. A lot has changed and now more motorcycles are bought with finance than any other method. Table of Contents Every way to finance your new motorcycle In the 90s, the likes of Carnells and Motorcycle City came on the
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