With Black Horse Personal Contract Purchase you can keep your monthly repayments lower by deferring a significant proportion of the amount of credit to the final repayment at the end of the agreement. Agree an initial deposit, how many miles you are likely to ride each year and how long you want the agreement to run for and the dealer will then calculate the Guaranteed Future Value (GFV) of your motorcycle and confirm your monthly repayment. The dealer will submit the finance application to us and subject to your application being approved; you can just ride your motorcycle away.
The options at the end of your agreement are:
(1) Part exchange the motorcycle subject to settlement of your existing finance agreement; new finance agreements are subject to status.
(2) Return the motorcycle and not pay the final lump sum repayment. If the motorcycle is in good condition as has not exceeded the agreed maximum mileage you will have nothing further to pay. Further information on what is considered good condition can be found at blackhorse.co.uk/BikeConditionGuide. If the motorcycle has exceeded the agreed maximum mileage a charge for excess mileage will apply.
(3) Pay the final Lump Sum Repayment to own the motorcycle.
PCP is an ideal way to get on a brand new motorcycle with fixed regular payments to give you less strain on your budget for the things you want. We understand you might not have the money up front, that's why the deposit and monthly payment amounts are flexible for you. If you like to keep your options open, we recommend PCP as you're able to switch around when and if you need to.
Usually, you can choose a payment plan to last from 2-4 years, then take the best option for you when you reach the end of the agreement. It is to be noted, you do not own the motorcycle until the final repayment has been made (including interest). Although, you can return the motorcycle for a newer model providing the motorcycle is in good condition and abiding the terms.
Our team are on hand to help, we understand that it can be confusing on the surface. If you're wanting a human conversation to get to grips with the ins and outs of PCP financing, don't hesitate to get in touch, either in-store, on the phone or online. We're happy to help.
Click here to contact us via our website, you can call on Tel: 01482 35 55 35 or click here to find our store.