Buying a new bike - Advice

[Alpinestarhero]

I'm really really considering getting a brand new honda VFR800, and take advantage of the free luggage offer honda are doing until the end of september.

I'm worried by the interest though; I'd have to pay on finance, and the interest would be 6% (work out something like 15% apr over 24 months). In total, I'd be paying about £9200 for a bike costing about £8500. Is this a reasonable deal? Repayments would be about £260 per month, which I can afford (I think I can affrod up to £300), and I can get a good price for insurance.

Should I take the plung? An attractive part of having a brand new bike is that I take full control of its servicing history.

Help me out .org, I would really like a VFR800, its the bike that promises to be the bike to do everything I want from a bike...

Matt

[Jabba]

I'd be paying about £9200 for a bike costing about £8500. Is this a reasonable deal?

6% doesn't sound too bad to me for what is, after all, an unsecured loan.

Do they add the interest to the loan at the start of the period? If they do then you would be liable for the whole lot should you repay the loan early.

Can you get a better rate from a bank? Worth taking a little time to investigate.

Should I take the plung?

It's a Honda so yes, of course you should :thumbsup:

[Alpinestarhero]

Interesting, I suppose I could investigate a loan from a bank. I'll go and ask...does anyone have any suggestions for where to go?

And thanks jabba - the "its a honda" argument is definatly a winner :smt054

[Scoobs]

It's cheaper than getting a loan, but a lot of other makes are doing 0%. Kawasaki always do and Yamaha are at the moment, part of the reason I took the plunge on the R1. You loose a lot of money on a new bike. Mine was 16 months old with 2k miles on the clock, so just run in and I got £2,200 off of the RRP plus 0%.

It may be worth it to you though just to know that you are the only person ever to have ridden it.

[Dave20046]

Why not get a preowned one maybe a year old or so?

[Alpinestarhero]

There is one at dobles, 2800 miles, full luggage, going for a grand less. Its had 3 owners though, im worried its one of those "jinxed" bikes..

[the_lone_wolf]

Having bought new and used I'd say save for a bit and buy used, not ancient but one that has had the new bike kinks sorted, got those initial scratches that leave you feeling gutted on a brand spanker and costs far less than a new one without requiring you to sign up for finance

[fizzwheel]

Rate looks not to bad, As Jabba says though find out what other options are available.

Just remember that you'll be saddling yourself for a little while with that loan repayment, if you are on the verge of only just being able to afford the repayments, will you be able to afford to run it ( Servicing, tyres etc )

No point having a shiney new bike if you cant afford to put petrol in it or go out for a meal or a drink with friends as the finance has put you right on the breadline...

Can you find a similar spec bike thats 12 - 18 months old, you'll save money that way and if you can get a finance deal on it, you'll be paying less out each month I would have thought. Also you wont loose money on the intial depreciation.

If you can find the kind of bike like Quiff did the other week, you'll save alot of money and having seen his bike, its mint, its just like new...

[Dave20046]

Having bought new and used I'd say save for a bit and buy used, not ancient but one that has had the new bike kinks sorted, got those initial scratches that leave you feeling gutted on a brand spanker and costs far less than a new one without requiring you to sign up for finance
Doesn't even need to save up if you can get a loan (like you're considering). Just find one advertised somewhere that some old farts bought with all the extras and then has given up on biking 8)
Infact keep you eyes on the forum for a red'n :razz:

[Scoobs]

There is one at dobles, 2800 miles, full luggage, going for a grand less. Its had 3 owners though, im worried its one of those "jinxed" bikes..

Look at the owner history on the V5. If it is pre-registered then that is one owner...! Quiff just picked up a tidy VFR800 on a 56 and that had something like 1300 miles on it. It is very unusual to find this type of bike with such low mileage. It is not what they do. Not necessarily a lemon though. Give it a good look over, go for a test ride, get a warranty from Dobles.

[the_lone_wolf]

Doesn't even need to save up if you can get a loan (like you're considering).
True, personally I'm not that keen on paying a finance company money to satisfy the little "must buy now" gremlins;)

Biketrader is listing 32 VFRs within 100miles of London under 3yrs old and less than 10k miles starting at ~£5k, plenty of window shopping and what, £3.5k less than a new one?

[Gazza77]

I'm really really considering getting a brand new honda VFR800, and take advantage of the free luggage offer honda are doing until the end of september.

I'm worried by the interest though; I'd have to pay on finance, and the interest would be 6% (work out something like 15% apr over 24 months). In total, I'd be paying about £9200 for a bike costing about £8500. Is this a reasonable deal? Repayments would be about £260 per month, which I can afford (I think I can affrod up to £300), and I can get a good price for insurance.

Should I take the plung? An attractive part of having a brand new bike is that I take full control of its servicing history.

Help me out .org, I would really like a VFR800, its the bike that promises to be the bike to do everything I want from a bike...

Matt

Other things to consider: have you actually ever ridden one? Might be worth looking at some of the other options out there too to compare (Fazer thou, Sprint ST perhaps) as well before you jump in.

[Dave20046]

True, personally I'm not that keen on paying a finance company money to satisfy the little "must buy now" gremlins;)


Me neither but a lot of people are happy to :)

[hovis]

get 1 six months old with all the extras already run in, low milage

and save a few grand?

[Scoobs]

might be worth looking at some of the other options out there too to compare (sprint st perhaps)

You're biased though Gazza :)

[the_lone_wolf]

Me neither but a lot of people are happy to :)
Fair enough, I 'spose with a £1500 trade in on the SV (more without the topbox;)) and a 2yr old model with 8k miles at ~6k it's not an earth shattering loan, I'd just be wary of burdening myself with contracted payments unless I was absolutely sure my income was going to continue until things pick up...

[454697819]

I sit on the fence with this one,

I have bought many used bike and 2 new ones,

You cannot touch the feeling of your bike being urs and new, bikes are pretty much my only vice, so I am happy to spend my money on them as it were.

I bought the tuono new and financed it, but I kept the payments high to make sure it was paid of asap so in the event of needing to sell it it wasn't in negative equity.

Also put it off a month and save that extra for additional deposit.

[Sosha]

Hmmm only finance deal on a new bike I'd be looking at is 0% - but then I'm a tightwad



Edit: and just for a windup - http://cgi.ebay.co.uk/HONDA-VFR-800-VTEC-MINT-LOW-MILES-BIKE_W0QQitemZ140343604190QQcmdZViewItemQQptZUK_Mo torcycles?hash=item20ad2173de&_trksid=p3286.c0.m14

[yorkie_chris]

I'm really really considering getting a brand new

Don't.

[Gazza77]

You're biased though Gazza :)

I am, but doesn't mean the OP would agree with me. ;)

[Holdup]

If its what you want, then do it, as you have said you will know the bikes history etc

But if you are considering 2nd hand have a quick look here

http://ww1.honda.co.uk/motorcycles/used/index.html

[MrTom]

Is it just the luggage offer that is making you want to buy now?

If the bike is £8500, but you'll pay £9200, then your paying for bike and luggage anyway.

You could wait till you can better afford it, pay the same amount, but not have finance issues bothering you.

I wouldn't rush into this offer.

[yorkie_chris]

Plenty of secondhand ones that have the factory panniers, all depreciating done, teething trouble out of the way. Etc.

[Sir Trev]

A*H - try somewhere like moneysupermarket.com to compare loans, especially as they show the total repayable. £8500 over three years is coming up with typical deals of 7.7% and total repayable of £9500.

I personally prefer to take out my own loan as the bike is not tied to anything that way and I can sell/replace/upgrade when I like. Unless of course you can get a 0% deal.

[Luckypants]

ASH - There are loads of bikes around with the luggage on, Honda did this offer last year to. If you look on Ebay and the like you can pick up brand new luggage for peanuts from folks who never wanted it.

I also say look at pre-registered bikes. I got my bike with 200 miles on it (I put 60 of them on while test riding it!) but £1500 off list. It was a new bike! There was a choice of three around here at various dealers so it does not limit you on colours or options. Quiff's bike proves there are some good bikes out there if you look, his bike looks like new, totally immaculate and only 1300 miles on when bought - but half the cost of a new one. Take some time to shop around, with winter coming your money will go further.

[Alpinestarhero]

Ok, thanks guys for all your replies. I think I'll take the advice of "wait for a better deal", and get a bike that is already run in, but not really been used (i consider anything with less than 4000 miles pretty much brand new anyway). I'm going to try and get a test ride this weekend, or next weekend, and then just wait until I can find a good "used" machine.

RE other bikes: I have considered triumphs, but the valve check service interval of 12,000 miles puts me off, thats really quite low, considering my SV can wait 16,000 miles, as can the VFR. Also, sitting on a sprint, I dont like the foot controls...the position between the gear lever and the peg feels to small, same for the brake. I'd love a fazer thou', but the insurance would be too steep...it would be the bike to have after the VFR I think.

Taking out a bank loan would be a good idea regarding the finance issue; if i needed or wanted to sell, there would otherwise be that outstanding finance to pay off which could put a seller off (i know it would put me off) but a loan from a bank which could be used for any purpose and not directly linked to the bike would be better.

I'll sit down and have a chat with my dad aswell, his last two bikes have been brought brand new so he should have a good idea on the process :)


In any case, I hope to have a new workhorse before christmas 2009 :cool:

[Gazza77]

RE other bikes: I have considered triumphs, but the valve check service interval of 12,000 miles puts me off, thats really quite low, considering my SV can wait 16,000 miles, as can the VFR. Also, sitting on a sprint, I dont like the foot controls...the position between the gear lever and the peg feels to small, same for the brake.

My 12k service cost £340 at a main dealer, incl an MOT so not so bad. If you don't find them comfortable to sit on however, you do right not to buy one! :p

[Alpinestarhero]

Yea...but to do 3 valve checks in the time other bikes (SV, VFR) do two, thats not great. The thing that attracts me to the yamaha FZ1S's is the fact the valve check is the toher side of 20,000 miles.

Thats once every 3 years for me!

[Lozzo]

I'm really really considering getting a brand new honda VFR800, and take advantage of the free luggage offer honda are doing until the end of september.



You're not allowed to own a VFR800 until you can grow a grey beard and you smell of stale p155.

[Lozzo]

RE other bikes: I have considered triumphs, but the valve check service interval of 12,000 miles puts me off, thats really quite low, considering my SV can wait 16,000 miles, as can the VFR. Also, sitting on a sprint, I dont like the foot controls...the position between the gear lever and the peg feels to small, same for the brake.

Brake and gear pedal height and adjustment can easily be sorted.

Valve clearance intervals on a Triumph may well be every 12K miles, but they take far less time and effort to do than the VFRs complex system. Once the bike is out of warranty it is so easy to learn how to do them yourself and save a fortune at the dealers.

I wouldn't even contemplate doing clearances on a V-Tec VFR, the system is just too unnecessarily complex and the potentail to completely balls it up is just way too high. That could be why a lot of Honda dealers I know never touch them, they just remove the rocker covers and adjust the easy side and leave the V-Tec clearances alone regardless.

Personally, I just don't rate the VFR as a sports touring bike any more - they really screwed it up when they went to the 800i model, and compounded this when they went V-Tec. You can't use throwovers safely on a V-Tec, and the engine is way too complex for a sports tourer that will be doing high mileages. The linked brakes fitted to all 800s are absolutely fecking awful too.

[Alpinestarhero]

You're not allowed to own a VFR800 until you can grow a grey beard and you smell of stale p155.

The smell of stale wee I can sort out easily, and probably throw in some other smells for good measure. I got acces to some great stinks in the lab :lol:

as for the beard...well, it takes me a week to get 5mm of average hair length on my face

Manly I am not :lol:

Anyway, the VTEC system does worry with regards to valve clearances, but I know that the V4 engines has proven reliability. Build quality, from the varying VFR's I have seen, is always quite good. The worst I have seen is some corroded fairing fastners on one model and some rusted downpips on another. Bot nothing to jump up and get all scared about.

The 800i IMO has the easiest-to-live-with engine, but is the worst looking. The current VFR looks great. I dont mind linked brakes so much, they could be usefull when filtering and I am only covering the rear brake (using the hand for the throttle). ABS on the newer bikes means I wouldnt have to worry about locking the wheels either if I just stamp on the rear brake when Mr Twit pulls out unnanounced.

I'd like a triumph tiger, but I think that would detract too much from the "sports" side of sports-tourer. And I'd need war staroies in addition to the wee smell and the long greay beard if I owned one :lol:

[Jackie_Black]

I've bought all three of my bikes new on pretty good deals. The SV was 3900 brand new on 0% and the ZX6r was £5500 on 0%

I bought the strom on finance at X% (cant remember now) but thats cos I just wanted it. If I traded it now i'd lose money (didnt lose much at all on the others in fact nothing on the ZX6) but I know im going to keep it for a long itme and i really like it. If you really want one and will keep it just do it, have fun now, pay later. lol

[Biker Biggles]

Thats a lot of money for a bike that isnt as good as previous models IMO.I really wouldnt entertain it in the current economic climate either.Now is not the time to spu6k dosh on consumer luxuries when a fraction of that amount would still buy you a very nice bike.
God Im a misery arnt I?

[Quiff Wichard]

Look at the owner history on the V5. If it is pre-registered then that is one owner...! Quiff just picked up a tidy VFR800 on a 56 and that had something like 1300 miles on it. It is very unusual to find this type of bike with such low mileage. It is not what they do. Not necessarily a lemon though. Give it a good look over, go for a test ride, get a warranty from Dobles.



yes I did... but I am lucky- I rub myself for luck every day :smt081


Matt , its all exciting new bike etc.. but take it from me

it wears off.. and fact hits home mate..

its a lot of money over a looong time.. and it WILL hit you..

every month..
christmas time.. still got to be paid..

in a few years you and Maria may be married and then kids.. and you be committed to a £££ expense each month that could contribute to rent/mortgage..

do a little projection..


best advice.. speak to your dad - believe me- they been there and done it and it aint til you get old like me you realise they know what they on about them dads.


whatever you decide.. good luck

[Alpinestarhero]

Thanks quiff; thats a good peice of advice. I know I can afford it, but you can never plan in full for the future.

As for my dad, I know he's always right, whenever he says "trust me" i know to trust him :lol: I'll get on the blower to him today, maybe he'll meet me somewhere and acompany me on a test ride (I dont want to go alone lol)

[Alpinestarhero]

Oh yea, one more thing; regarding that "its new and shiny, you'll be upset when it gets a scratch"...well, since the new / next bike will be used day in, day out, I'm going to have to allow for a certain amount of scratches to occur. A bit of T-cut will remove some, carefull touching up with paint will remove some others. I can't treat it with kid gloves all the time, else I'll nver get anywhere :D

So I dont mind buying new then getting a mark on it at the end of the first week, providing the mark isnt provided by some douche pulling out on me.

[fizzwheel]

Oh yea, one more thing; regarding that "its new and shiny, you'll be upset when it gets a scratch".

I bought my GSXR new, every scratch on it, I've put on it, every scratch has a story behind it as to how it occured.

The first scratch is annoying, after a while they dont bother you anymore...

Bike is a tool, a machine something you derive pleasure from by riding, not by keeping it shiney and never using it.

IMHO.

[BernardBikerchick]

I'm really really considering getting a brand new honda VFR800, and take advantage of the free luggage offer honda are doing until the end of september.

I'm worried by the interest though; I'd have to pay on finance, and the interest would be 6% (work out something like 15% apr over 24 months). In total, I'd be paying about £9200 for a bike costing about £8500. Is this a reasonable deal? Repayments would be about £260 per month, which I can afford (I think I can affrod up to £300), and I can get a good price for insurance.

Should I take the plung? An attractive part of having a brand new bike is that I take full control of its servicing history.

Help me out .org, I would really like a VFR800, its the bike that promises to be the bike to do everything I want from a bike...

Matt


sounds good to me ! my ex had a vfr loved it !!!

[wow]

I haven't read all the posts but I have been there done that and wouldn't buy new again.

Have you checked honda dealers for their 0% APR loans? http://www.portsmouthmotorcycles.com/ have a fireblade and a CBF1000 on offer for 0% finance.

[sv-robo]

you're not allowed to own a vfr800 until you can grow a grey beard and you smell of stale p155.
pmsl!!!=D>

[Quiff Wichard]

wait a year then buy mine..

cos by then I will be too old to ride


Had to say it before Matt Sv did..

[Alpinestarhero]

wait a year then buy mine..

cos by then I will be too old to ride


Had to say it before Matt Sv did..

yea alright, you got a deal ;)

[Alpinestarhero]

I bought my GSXR new, every scratch on it, I've put on it, every scratch has a story behind it as to how it occured.

The first scratch is annoying, after a while they dont bother you anymore...

Bike is a tool, a machine something you derive pleasure from by riding, not by keeping it shiney and never using it.

IMHO.

as long as its straight, no big cracks / huge scuffs, oil in the right places, then thats good.

I'll take a scratch on the fairing instead of a dry chain :D

[Quiff Wichard]

matt look in idle banter re the thread about the chap needing get rid of his mini on finance.

"ever given back a car" or similar is the title cant be bovvered do a link..

might make you see where you could be in a year see..??

[speedplay]

matt look in idle banter re the thread about the chap needing get rid of his mini on finance.

"ever given back a car" or similar is the title cant be bovvered do a link..

might make you see where you could be in a year see..??


Wise words there quiff :)

My Mrs hates finance of anysort.
Her take on it is "If you can wait 4 years to pay it off, you can wait 4 years to save and buy it"

Plus in the the long run its cheaper to save and buy outright.

[BanannaMan]

If you really want a VFR800 then wait a bit longer.
Honda will be unveiling an all new VFR1200 as a 2010 model soon. (spring is the rumor)
There will be more 800's on the market soon afterwards and you'll likely find a nicer one for less money.

[Alpinestarhero]

Ah, BM, your quite right! Mught be able to get a good deal then.

Maybe I should keep the SV for a while longer, spruce it up a bit and just put a wodge of money aside then? That way, I can make a massive deposit (lets say 5k) and only take out a tiny bit of finance (unless i find VFR with all the goodies on it for less than 5k?)

difficult this money malarky. why cant new bikes grow on trees :lol:

[Jackie_Black]

Are they really making a VFR 1200?

[BanannaMan]

Are they really making a VFR 1200?


Yes.
It's been widely leaked to the press.
Just google "VFR1200".

Very un-Honda-like behavior for the normally super secretive Big Red.

Every major bike mag on the planet has it's own "spy photo's". :rolleyes:
I guess deperate times call for a new marketing scheme to go with the new bike.
If they do turn out to be the 200 hp techno wonders the press claims....look for them to be all sold out long before they ever see a showroom.

Now if only Honda would leak a few pics of the all new ( and Made in Japan) 2011 Goldwing, set to debut in the fall of 2010. ;)

[Alpinestarhero]

The VFR1200 has been spied doing hot-tempurature testing out in the middle of know-where in the US. Quite reassuring when one would be plodding through town on a hot british day...if it can cope with the desert, it'll cope with Hangar Lane at 5pm on a teusday afternoon in august (when its least likley to rain :lol:)

[SoulKiss]

if you are going by numbers -ie VFR1200 being better then VFR800 - why not just go GTR1400

http://www.zpower.com.au/catalog/images/NV54311_8_400.jpg

[Alpinestarhero]

i wont need that much of an engine!

maybe there'll be deals on VFR800's when the new one comes out