2017> SP values

Discussion in 'General 1000RR Discussion' started by gcon45, Apr 10, 2019.

  1. PauloHRC

    PauloHRC God Like

    Joined:
    Sep 3, 2017
    Messages:
    5,216
    Likes Received:
    3,830
    Mine runs until end of December 2021and my GFV is 10900......its mental too think I'll be handing it back knowing full well that it'll probably worth a lot less than that. What do we reckon a 3 year old SP will be worth in 2022?? 8-9 grand??

    I can't think why anyone would pay off the lump payment at the end knowing it isn't worth the GFV unless you are extremely attached to it!!!

    It's a shame really as I'd love to keep mine.:(
     
  2. nozdog

    nozdog Active Member

    Joined:
    Feb 7, 2015
    Messages:
    150
    Likes Received:
    32
    2019 bike up for the 13k with less than 2000 miles bargain when you think about how much the RRRP is really.



    [​IMG]
     
    • Agree Agree x 1
  3. NS400R

    NS400R Elite Member

    Joined:
    Mar 27, 2018
    Messages:
    1,545
    Likes Received:
    599
    I guess you could try to negotiate a lower payment. Or am I being naive?
     
    • Agree Agree x 1
  4. Kevin1

    Kevin1 Elite Member

    Joined:
    May 30, 2012
    Messages:
    2,488
    Likes Received:
    1,115
    TBH we all know buying a new bike is a waste of good money.

    I don't really see any motorcycle as a significant investment, and anybody that thinks they are are deluded. They just make too many of the limited editions. The NR750 was last investment bike they made, in my opinion.
     
  5. PauloHRC

    PauloHRC God Like

    Joined:
    Sep 3, 2017
    Messages:
    5,216
    Likes Received:
    3,830
    I was thinking the exact same thing...... Could Honda finance offer us a current market value deal at the the time?? o_O
     
    • Like Like x 1
  6. gcon45

    gcon45 Active Member

    Joined:
    Mar 2, 2014
    Messages:
    387
    Likes Received:
    134
    When you sign the PCP contract you are agreeing to the figures within so those figures are set in stone basically.

    You’d obviously need to be very naive to not realise that bikes depreciate but the 0% deals really have caused unprecedented chaos in the used bike market.
     
  7. Shutty

    Shutty Well-Known Member

    Joined:
    Dec 8, 2012
    Messages:
    655
    Likes Received:
    356
    Just cane it.. 4,000 a year hand a 12,000 mile SP back and say thanks a lot

    i was looking at whether to bail but bought a 2011 Speed Triple with what it would have cost to bail the blade circa £4k.

    madness but obviously that was never a £19k bike new. £17k with the £2k off, £3k of interest... Realistically it was a £14k bike + interest and the used value is about right at £12k
     

    Attached Files:

    • Like Like x 1
  8. CharlieR85

    CharlieR85 Elite Member

    Joined:
    Jan 3, 2016
    Messages:
    2,154
    Likes Received:
    953
    £20k for a Fireblade that was re-hashed from the previous model is where all the problems started. They were always going to lose big money.
     
    • Agree Agree x 2
  9. gary1966

    gary1966 Active Member

    Joined:
    Feb 25, 2012
    Messages:
    1,022
    Likes Received:
    454
    I don’t know anyone who makes money out of a new bike or even a five year old bike, have a look what cars drop like 30k in two years.

    People are investing in older bikes 94 urban tiger/ 98 R1 okay there not going to drop in price but my mint 94 urban tiger is still 3k lower than it was when it was new. Never going to get rich owning a bike.

    Its not just Honda Look at the new rsv4 they dropped the price over night by 5k the poor buggers who had bought the newer model all of a sudden see there bikes lose 10k.

    YOUR NEVER GOING TO WIN
     
    • Agree Agree x 3
  10. Honda1964

    Honda1964 Active Member

    Joined:
    Oct 16, 2011
    Messages:
    238
    Likes Received:
    164
    For me it’s never again, probably ended my 13 year bike new buying madness, no bad thing, so its a case of live and learn, ride and smile, enjoy what it gives rather than what its given away. No matter what the price or negative equity is, it does not change pride in ownership with amazing technology and the once in a lifetime experience it gives you. Self therapy :D
     
    • Like Like x 2
    • Agree Agree x 2
  11. mk3golfcab

    mk3golfcab Elite Member

    Joined:
    Feb 4, 2018
    Messages:
    3,293
    Likes Received:
    1,919
    If you’re going to enjoy the bike I guess future value doesn’t matter. My old man puts around 30k+ miles on each GS he has, buys new and replaces after 3 years. He’s not too fussed about future values as he expects to get his money’s worth with the bike. If you’re only doing 3k over 3 years it’s a hard pill to swallow.
    For me personally I couldn’t justify the price of a new bike for a toy, put simply I wouldn’t use it enough to counteract the dip in value after 2-3 years so I don’t bother.
    My riding skill would be out performed by a 30 year old bike too :)
     
    • Like Like x 1
  12. Honda1964

    Honda1964 Active Member

    Joined:
    Oct 16, 2011
    Messages:
    238
    Likes Received:
    164
    I painfully agree with your philosophy, That’s were my lesson learned comes in :) but i intend to make my mark on it too.
     
    • Like Like x 1
  13. Gaffa22

    Gaffa22 Well-Known Member

    Joined:
    Aug 31, 2016
    Messages:
    626
    Likes Received:
    289
    I must have been lucky ish, bought my 2017 standard blade on PCP 0% and got a decent discount and some extras, put down a decent deposit and paid £66 a month, the final balloon payment was £7800, I cleared the PCP off last month and sold the bike for £9600.
    Not sure why the Honda's depreciation is worse than some of the others.
     
  14. mk3golfcab

    mk3golfcab Elite Member

    Joined:
    Feb 4, 2018
    Messages:
    3,293
    Likes Received:
    1,919
    That’s a great situation to have won in mate! Done it with cars, I find PCP the best deal, if the vehicle is worth more than the GFV then I buy it and sell it on, if not give it back :)
     
  15. mk3golfcab

    mk3golfcab Elite Member

    Joined:
    Feb 4, 2018
    Messages:
    3,293
    Likes Received:
    1,919
    Had a similar thing to the fireblades a few years back with a fiat 500. Misses wanted one so went to look at used ones, cars 3-4 years old were the price of a new one minus the VAT so we bought new. Needless to say after the 3 years the used market was swamped and the price was mediocre at best for a used one so we gave it back.
     
  16. Gaffa22

    Gaffa22 Well-Known Member

    Joined:
    Aug 31, 2016
    Messages:
    626
    Likes Received:
    289
    We did the same with the wife's Honda Jazz in April, Final PCP payment £7600 but they gave us £9600 trade in on new new one, so we took that and got discount from the dealer and got a contribution from Honda, so it was a really good deal, but then the market is not swamped with Honda Jazz's.

    My daughter is in the same boat as you with her Mini, there are just so many available the second hand values are low
     
    • Like Like x 1
  17. mk3golfcab

    mk3golfcab Elite Member

    Joined:
    Feb 4, 2018
    Messages:
    3,293
    Likes Received:
    1,919
    best thing I done after was buy a 2 year old car for the wife and kids and picked a shot box up for me for work (and a blade of course :cool:)
     
  18. nigelrb

    nigelrb Elite Member

    Joined:
    Nov 2, 2017
    Messages:
    9,804
    Likes Received:
    3,371
    I have complained often enough about depreciation on my SP2. I know I will be heading for a similar hit on the Daytona 765 to be acquired in March, and the 2020 Honda I also intend to buy.

    But, despite all that complaining, I think we have to accept depreciation and loss with anything we buy, (save for real estate) from an iPod to a lawn mower. We must factor in a value on possession and enjoyment.

    Whilst I can say I've 'lost' £7,000 on a bike I've ridden only 2,000 miles in 18 months and had it sitting in my lounge room the remainder of the time, it is the price I pay for my enjoyment, passion and hobby. Wearing my 'positive attitude' hat I have no problem with this. Everything will lose value, so why are we so obsessed with netting our outlay on resale? (I accept there's a different formula if buying bikes as a profit-making exercise)
     
    • Agree Agree x 4
    • Friendly Friendly x 1
  19. gcon45

    gcon45 Active Member

    Joined:
    Mar 2, 2014
    Messages:
    387
    Likes Received:
    134
    Everyone has to expect depreciation.

    50% at 1 year is unprecedented though.
     
    • Agree Agree x 1
  20. nigelrb

    nigelrb Elite Member

    Joined:
    Nov 2, 2017
    Messages:
    9,804
    Likes Received:
    3,371
    Erm, I think Henry Ford's 'Edsel' might have run very close!! (Would love to have one now though!;))

    https://en.wikipedia.org/wiki/Edsel

    Edsel.jpg
     

Share This Page