How do you buy yours? PCP, Cash, Bank Loan?

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Ben
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How do you buy yours? PCP, Cash, Bank Loan?

#1 Post by Ben » Fri May 15, 2020 6:28 pm

I'm interested to know how you buy your bikes (new or second hand), (cash or finance) and what your bike-buying mantras are. And how long do you tend to keep them?

Me? I've never bought new, always look for low mileage bikes that are 5+ years old. I'm often tempted by new bikes, especially 0% finance deals but I've yet to pull the trigger.

burty
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Re: How do you buy yours? PCP, Cash, Bank Loan?

#2 Post by burty » Sat May 16, 2020 6:48 am

Cash.

Only ever bought one brand new bike. Most of my purchases have been around 1 year old bikes.

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mangocrazy
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Re: How do you buy yours? PCP, Cash, Bank Loan?

#3 Post by mangocrazy » Sat May 16, 2020 5:11 pm

Ever since 1980, when I bought my 350LC I've always bought new (with one exception, and that was my Ducati 888, which was a year old). In the '90s when I was contracting, the bikes (5 of them) were bought by my limited company as 'company bikes'. I could even claim back the VAT on them... Apart from those all the bikes I've ever owned I saved up for and bought cash.

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Re: How do you buy yours? PCP, Cash, Bank Loan?

#4 Post by yello » Sun May 17, 2020 7:05 am

My first brand new bike, bought with the new found excitement of having a job and so my own resources, was on tick. Since then it's largely been trade-ins plus cash for 2nd hand purchases.The exceptions; I was a 'born again' and that purchase was cash only, and my current bike was a straight swap.

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Re: How do you buy yours? PCP, Cash, Bank Loan?

#5 Post by fatboy » Sun May 17, 2020 2:23 pm

I took out a bank loan for the RC8 as it is the most expensive bike I've owned, prior to that its always been cash, swaps, part exes ,bartering.
Never been tempted to buy brand new because of the massive depreciation factor
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Re: How do you buy yours? PCP, Cash, Bank Loan?

#6 Post by dprice8893 » Mon May 18, 2020 7:14 am

Over the past twenty years I've usually bought new and paid the difference with cash. I generally keep my bikes for up to two years and negotiate hard at the best time of the year for a good part ex.
It's probably still the most expensive way but hassle free. Also, I rarely take the bike for dealer servicing and do it myself which saves a fortune.

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Dr Ridin
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Re: How do you buy yours? PCP, Cash, Bank Loan?

#7 Post by Dr Ridin » Fri Jun 19, 2020 7:06 am

I have always paid cash, as the old axiom of 'money talks' is still true. For most sellers they need the money now and don't want to wait days for loans to be approved, and cheques to be cleared. I have bought some great bikes very cheap by turning up with the Rego Transfer papers and cash in my pocket.

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Re: How do you buy yours? PCP, Cash, Bank Loan?

#8 Post by Shebee » Fri Jun 19, 2020 6:42 pm

in the beginning i used to do mostly Cash or bank loans, the most recent one was bought with the PPI refund from the bank loans!
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Re: How do you buy yours? PCP, Cash, Bank Loan?

#9 Post by BikerGran » Mon Jun 29, 2020 11:10 am

I've only had three and they were all cheap and cheerful, so cash! Tell a lie, I bought a 400/4 at the local auction so I paid the £70 with a card. Sold it for £100 cash 2 years later.
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