Hey, Ray here, great channel! I've purchased my first two bike on PCP and soon realised I was being taken for a mug. So my third bike(and current) I purchased with a loan from Tesco with a ridiculously low interest rate that I paid in half the time! I would consider PCP for one only reason: commuting all year round in the UK. I did that with my second bike, which I purchased brand new. After the first year it looked like a 3 year old bike(even though I looked after it, cleaning it regularly and treating it with anti rust coatings and such). After the 4th year(when I finally traded it in for my current bike), it looked like a 15 year old bike, greatly affected by winter salt. It is in this case, that I'd consider PCP, to use the bike for commuting, not really 'caring' about how negatively affected it becomes through the winter, and after 3 years, I'd just replace it with a new one. I'd be paying a bit more, surely, but in my eyes, it'd be a fair trade off for having a sort of 'disposable' bike(a work horse) I use and 'abuse' and replace with a new one every 3 years. It's not a perfect system/plan! But it is one I'd consider if I were in that situation. Otherwise, PCP and HP are not the best options. Cash is best, and a loan from a low interest company is second best. Thanks for the video! Cheers, Ray.

@BikingChap

Жыл бұрын

Hi Ray, thanks for the kind comments! I understand your point re using PCP for a 'year round' bike and not worrying so much about keeping it pristine. I would worry that they might enforce their usual 'kept in good condition' type rules however and ask for further monies. I made the video because I did buy the NC750X on PCP and it's only living with it for 4 years I realised, never again! Sadly I think so many people are taken in by the chance to 'buy' a more expensive bike than they would normally do, they then over stretch themselves. I knew I had money coming to me in the future and I used that to pay off the 'balloon payment'. The dealer was really surprised though saying 'virtually no one actually pays it off'. Now 5 years in and the bike is mine, I feel no need to change it and I'm paying nothing each month (apart from fuel, insurance etc) and it would be hard to justify buying something else and having to cough up 100-200 pounds a month again. Ride safe! Jon.

@RayLombardi

Жыл бұрын

@@BikingChap Hey Jon, thanks for your reply! I totally agree with you. After buying my first two bikes on PCP my thought was: Never again! I'm so happy with my current bike(a 2019 Honda CB650R I purchased brand new with a Tesco loan that I paid in half the time) and it was mine from day one! Actually, it's never seen the dealership since I picked it up, four years ago! I do all my maintenance and being a Honda, I figured it'd be reliable, and so far, it's been flawless! In any case, I just subscribed to your channel. Very nice videos! Ride safe and see you on your next video! Cheers, Ray.

@BikingChap

Жыл бұрын

Thanks again Ray and especially for the sub! I've got a real soft spot for the CB650R, one of the very last, great, four cylinder middleweights I'm sure, and built like only Honda can. I'll be looking to get more reviews out soon but I don't get 'free' press or dealer bikes which has it's pros and it's cons. On the one hand I can be completely honest about what I think about the bike without fear of having my supply of test bikes 'cut off'. On the downside it means the bikes I can test are more limited as I have to hire most of the bikes for a few days which isn't cheap. If there's any bikes out there you'd like to see reviewed, just let me know and I'll do my best to secure one for testing going forward. Take care! :)

@RayLombardi

Жыл бұрын

@BikingChap Hey Jon, where about do you live? I'm near Heathrow Airport in South West London, if we're close to one another I would not mind to meet up and let you check out my honda. I've done some very tasty, high end and pricy mods to it. I'm sure you'd love it. Let me know.

@BikingChap

Жыл бұрын

I'd like to see that at some point, I'm based in East Sussex so just up the road from you, I'm sure we could meet up at some point. Feel free to drop me a DM at bikingchap@hotmail.com :)

I was having this very discussion with a Honda car dealer last week. 😊

@BikingChap

10 ай бұрын

It is rather a pet peeve of mine Jonathan, spread the word! :-)

I would never get pcp.....I save or get a tesco loan..... looking forward to the mz

@BikingChap

Жыл бұрын

@adam-qf2vz quite, it’s crazy how popular they’ve become, they really are bleeding us dry. I wonder if they’ll be the next PFI scandal one day. Thanks for your kind words and patience re the MZ!

PCP and lease are excellent if you always intend to sell your vehicle every 2-3 years otherwise it's a trick to force you to change your vehicle every 2-3 years and make the dealers/manufacturer more money. It's one of the reasons vehicle prices have gone up as no one's looking at the grand total just the monthly payments

@BikingChap

Жыл бұрын

@paulhoughton1976 absolutely agree, it’s often quite hard to find the retail prices now, only a monthly payment, as you say encouraging us to not only change every 2-3 years but to continuously pay for our cars. We’re absolutely haemorrhaging money as a car buying public.