Motorcycle Finance

Motorbike Finance UK

Unsure which finance option might suit you? Have a read below and consider your options. We have set out the key aspects of each type of finance we are able to offer.

At Completely Motorbikes we are impartial and do not offer any financial advice to our customers, instead stating only the facts, enabling you to make the financial decision that suits you and your financial situation. Our sales team is not targetted on sales or on the selling of finance, so how you choose to purchase your bike is entirely up to you.

PCP Finance

Motorbike PCP (Personal Contract Purchase) 

PCP or Personal Contract Purchase is a flexible form of loan where some of the cost is deferred until the end of the agreement in order to provide you with the benefit of lower monthly payments. The deferred amount is known as the Optional Final Payment and is sometimes also referred to as the Guaranteed Future Value (GFV).

We’ve broken down the key points of PCP below, to help you to understand how this motorbike finance option could help you secure the motorbike you want:

  • Lets you keep your repayments lower by deferring a significant portion of the financial credit until the final repayment at the end of the agreement
  • Can be useful for customers who want to be able to upgrade to new models and keep options open
  • Agreement periods between two and four years
  • Your purchase is subject to interest at an agreed rate
  • Final payment is optional and based on the bike’s guaranteed future value (GFV)

To choose PCP:

  1. Decide which bike you want to ride away on
  2. Agree on a suitable deposit
  3. Agree on a loan period - between two and four years 
  4. Estimate how many miles you will travel on your bike each year - maximum 24,000 miles annually
Santander Consumer Finance will use the information you provide, together with your financial status, as indicated by your credit score and your credit history, and their affordability checks, to calculate your monthly repayments inclusive of interest. This process will also generate your optional final payment. 

At the end of the loan period, you will have three options:

  1. Pay the optional final repayment, in order to take ownership of your motorbike
  2. Part exchange your bike against a newer model, using any equity as part of the deposit on your new purchase
  3. Return the motorbike in good condition, having not exceeded the agreed mileage
Your optional final repayment is based on the guaranteed future value (GFV) of your motorbike and is stated at the start of the loan period. 

Motorbike PP (Purchase Plan)

A simple way of financing that gives you the certainty of a fixed interest rate, and fixed monthly payments throughout the agreement. The initial deposit and repayment period can be structured to help meet your budget and the length of time you expect to keep the vehicle. You can trade in your existing vehicle and put this towards the initial deposit, or if you wish, just put down a cash deposit.

  • The agreement can be structured to meet your individual requirements based on the vehicle, the agreement duration required, the available deposit and your monthly budget
  • After paying the initial deposit you make regular monthly payments to cover the amount borrowed plus any interest and fees
  • The interest rate is fixed which means you’ll know exactly how much you will repay throughout the term of the agreement
  • The product is usually suitable if you have little or no deposit. However the outstanding balance may be greater than the value of the vehicle if you settle early or want to change the vehicle before the end of your finance agreement

The above should be used only as a guide and should not be taken to constitute financial advice. For a more detailed discussion about your motorbike finance options with Completely Motorbikes please either fill out our online form, call us or pop into your closest branch. 

Credit is subject to status and additional affordability checks. UK residents aged 18+ only.

© Copyright 2024 Completely Motorbikes. All rights reserved

Thunder Road Motorcycles Ltd (FCA Number 584111), is an Appointed Representative of Automotive Compliance Ltd, who is authorised and regulated by the Financial Conduct Authority (FCA No 497010). Automotive Compliance Ltd’s permissions as a Principal Firm allows Thunder Road Motorcycles Ltd to act as a credit broker, not as a lender, for the introduction to a limited number of lenders and to act as an agent on behalf of the insurer for insurance distribution activities only.

Part of Completely Motoring Ltd (FCA Number 676043),

We can introduce you to a selected panel of lenders, which includes manufacturer lenders linked directly to the franchises that we represent. An introduction to a lender does not amount to independent financial advice and we act as their agent for this introduction. Our approach is to introduce you first to the manufacturer lender linked directly to the particular franchise you are purchasing your vehicle from, who are usually able to offer the best available package for you, taking into account both interest rates and other contributions. If they are unable to make you an offer of finance, we then seek to introduce you to whichever of the other lenders on our panel is able to make the next best offer of finance for you. Our aim is to secure the best deal you are eligible for from our panel of lenders. Lenders may pay a fixed commission to us for introducing you to them, calculated by reference to the vehicle model or amount you borrow. Different lenders may pay different commissions for such introductions, and manufacturer lenders linked directly to the franchises that we represent may also provide preferential rates to us for the funding of our vehicle stock and also provide financial support for our training and marketing. But any such amounts they and other lenders pay us will not affect the amounts you pay under your finance agreement, all of which are set by the lender concerned. If you ask us what the amount of commission is, we will tell you in good time before the Finance agreement is executed. All finance applications are subject to status, terms and conditions apply, UK residents only, 18’s or over. Guarantees may be required.

Powered by DealerWEBS DealerWEBS™