Black Horse Finance Calculator
To help you along the way you can use the Black Horse Finance Calculator, in partnership with MCN, to help make your bike buying process easier. The calculator is a free online service and allows you to calculate your monthly repayments based on the term and deposit you have chosen, as well as giving you a clear indication of the costs involved.
You can also review information on the finance products that are available, making the whole process easier and quicker. Basically, this means less time faffing with paperwork and more time riding your new (or new to you) two-wheeled pal.
Finance deals come in all shapes and sizes and with Personal Contract Plans taking 20-30% of the new bike finance market, it’s growing fast. Our advice is, PCP might not be for you, so do your research to fully understand how it works.
The greatest advantage is that you can have a new motorbike for less than you might have imagined and potentially, in three years you can swap it for a newer one.
What’s the catch?
At the end of the contract period, you don’t own anything, and instead have a decision to make: do you pay off the outstanding amount and keep the bike; give the bike back and walk away owing – and owning – nothing; or do you roll your PCP deal on to a new bike? Most will use the equity as a deposit and roll onto a new PCP deal.