Join Date: Jul 2014
Location: Central Belt, Scotland
Yeah I had considered the BMW "Select" Personal Contract Purchase scheme here in the UK. Seems to be more of a classic, pay a certain amount a month over an agreed timescale and a set annual mileage limit, then at the end of the period there is a guaranteed future value (GFV) which stands as long as you haven't trashed the bike. You then can simply hand back the bike and walk away if you don't want it, buy the bike by paying the GFV, or trade it in for another bike.
In the end I wasn't that much more expensive getting a loan to buy the bike, and after 4 years the R9T would be all mine, with nothing outstanding. I knew I would be keeping the BMW for at least 5 years, so it made sense for me to just get a loan. Also no penalties if I exceeded an agreed mileage limit... Finally a PCP would severely limit any mods I was wanting to do to the bike, as I'm sure BMW wouldn't be happy with loads of aftermarket kit being bolted to the bike.
If I was going to be swapping for another bike in a couple of years, the PCP idea makes a lot more sense.
If in the very unlikely event that the bike is a lemon, I'll just sell it and take any financial hit. Chances of that are very small though. For me the advantages outweigh the risk.
Today I'll be mostly riding.....
BMW R NineT
1979 Moto Guzzi MK1 Le Mans (950 conversion, proddy race engine)