Second hand YZF R125 on Finance?

Discussion in 'YZF R125 General Discussions' started by ttboy1988, Mar 22, 2011.

  1. ttboy1988

    ttboy1988 Member

    The purchase of a bike with full payment looks bleak, Just want to know if its possible and has anyone done it? buying a second hand bike on finance

    would dealers still provide some sort of warranty?
  2. L-J-P

    L-J-P staff Staff Member

    Yeah it is possible! Different dealers offer different finance, most of them are blackhorse approved, you'll just have to look around for a dealer that does finance, but to be honest a lot of places are offering finance at the moment!
    As for the warranty, it could still have manafactures warranty or some dealers can offer anything from 3 weeks to 24 months parts a labour warranty, again look around fella (Y)
    Hope this helps!
  3. ttboy1988

    ttboy1988 Member

    Thanks for that mate, Do you think that since its still with black horse, i will still get 0 % apr ?
  4. L-J-P

    L-J-P staff Staff Member

    Probably not, because that 0% is a 'get on' campaign, but I doubt it will be high, just work out to a few hundred notes interest! :)
  5. ttboy1988

    ttboy1988 Member

    Yh, just spoke to a company and they have advised me

    if i buy a bike for 3k, this is how it will look like
    The number of monthly repayments: 36.00
    Your monthly loan repayment: £107.61 (+ £60 for insurance)
    Total payments: £3874.01
    Total interest charge will be: £874.01

    comments will be appreciated

  6. Seems a high rate for finance, looks to be approx 29-30%?

    I'd phone round and find out what other dealerships can offer.
  7. L-J-P

    L-J-P staff Staff Member

    what model is that on? year? mileage? or was that just a quote got 3k?
    seems high but if you get a good bike for it, then i wouldn't care :L
    i pay £110.25 + £34.02 insurance, when i got it new in 2010
  8. ttboy1988

    ttboy1988 Member

    2010 bike, for 3k with 1k miles on it

    18.9 % apr

    I think i might just buy a ybr 125 brand new

  9. why not buy a brand new yzf on 0% finance the deal with apr u get on second hand ur only saving a cuple hundred of new and when u buy new u know urself how its been treated and u get 2 year warrenty and a year brake down and what every extras u can blag

  10. That doesn't add up then because £3000 + 18.9% = £3567, not £3874.01 as initially quoted above. :rolleyes:

    The price isn't bad considering it's only 1 year old and the milage it's done.
    If it's got the relevant service stamps and the body is in good condition I'd deffo consider it.
  11. ttboy1988

    ttboy1988 Member

    The bike depreiciates too much mate, Plus 174 quid a month is too much for me, then there is insurance as well.

    Its a big decision for me to make, as i am a student, tbh i rather buy a ybr 125 as a new bike, never bought a new bike and that on finacne would just be great .

    More and more i look at this, i feel that this bike is not the right one for me. too much of a commitment
  12. ttboy1988

    ttboy1988 Member

    my calculation was over 3 years
  13. Codemonkey

    Codemonkey Member

    Have you got a lump sum you could put down ? If so do it and reduce the amount on finance, you'll reduce the interest to be paid accordingly.

    As was said above, no way is it worth paying £3.8K for a £3K bike on finance. You may as well just go for a brand new bike on 0% finance for about £200 more. If you're considering YBR125's, look on ebay and autotrader, some real bargains to be found. If you're only going to keep the bike until you pass your test, a used bike makes more sense since you won't take the big depreciation hit when its time to get something a bit more exciting!

  14. Surely the percentage is on the total item retail price, it's not an APR.. or is it? :confused:

    Item value (£3000) + 18.9% APR (£567) = £3567 / 36 months = £99.083 per month

    EDIT: I realise the above is not really relavant, it was more for my own understanding of how finance purchases work as I've not bought on finance previously :/
  15. ttboy1988

    ttboy1988 Member

    I get what you are saying about buying the bike brand new, cos it would make sense rather than paying that much for a used bike. The main problem is i dont have a lump sum i can put down, because i lost like a 1400 quid when i sold my car, so i still got to pay back my mum around 1400 quid. That to one side. The reason i was thinking about buying the YBR was that it was cheaper overall and less on insurance and would get it on finance at 0% apr. I am planning to keep the bike for about 3 years as i will be at university. So mainly using it to go to university from where i live and other traveling as well.

    I am not sure there is no way i can get hold of a lump sump without paying interest and i dont want to loose money on a new bike. So i think YBR 125 would be the best way to go financially.

    I understand what you are saying about used bikes, the answer is, first no lump sum, second i had nothing but problems and have been really unlucky with my vechiles lately, so i dont want to buy secondhand
  16. DW.

    DW. Member

    18.9% is nothing ive seen bike financers for 43%

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