Not yet , but it'll come at some point so started saving a bit ago so I can sort it once they arrive. Probably will buy a year old one so got maybe 3 years to save I reckon.
I wish they would make some bloody announcement. Im holding out for one too if there ever is one. Dont tell my 848 it will only get the arse and start kicking up a fuss.
I'm gonna try to keep the 848 too but we'll see how it goes. However my girlfriend may have other ideas as apparently that's "excessive "
Good for you in not just succumbing without thought to the buy-now-pay-later culture which has infested this country in recent years. However, it might not be wise to totally exhaust your savings to buy the bike, just in case - a colleague's hot water and central heating system packed up over the weekend and she's now looking at a bill in the order of £2k to have a new boiler and heating system installed! I too hate owing anyone money, but bought my 696 new when Ducati were offering a 0% finance deal, and I had enough for a deposit and a decent salary so the monthly payments were easily affordable, but couldn't have just gone out and bought e.g. a 2nd hand 695 for cash. Yes I felt dirty, and yes I was very glad when it was paid off, but especially in light of the pathetically low interest rates on savings, it kind of made sense. As just consider finance from the dealer vs saving up to pay cash in due course, might it be worth looking to see if any banks/building societies offer personal loans with better interest rates than the dealer is offering? At least with a personal loan from another source, you would own the bike from the get go.
If you go with HP as it used to be called, you don't own the bike until the last payment. A bank loan is better but cash is best. I will not have anything on finance as I have no self control when it comes to bikes.
Yeh I agree. I always have a emergency fund just in case something bad happens. But on the basis I have no bills or anything I'm pretty fortunate at the moment that 90% of my wages is saved in some form anyway.
I bought a car cash a few years ago. No swaying power what so ever. Dealers were only interested in doing a deal if I took out finance. If I had the means I would prefer to buy everything cash so I own it outright, but I don't, so finance doesn't bother me as I have a secure job and can make the payments. I only owe money on our new car, but I put as much down as possible so I can pay the balance of ASAP. I do however make sure I get the best deal possible. with a premium brand, like ducati the dealer can afford to wait for some one to come along who wants to buy on the never never.
i also heard that buying a car/bike second hand for £10k+ is illegal(?)...something to do with money laundering..dunno if thats kosher...dumping your whole wad in someones face usually gets a reaction ive found.
Not illegal but has to be notified to the relevant people. But when most people say cash, they mean debit card or cheque etc
Some good points in here, interesting about the dealers not getting anything from it. So probably is better overall to go private for a slightly lower price and buy the extras than pay extra and get a free service if it's even possible. As for savings, I forgot to mention, I contract... Which does play a factor in finance haha, even though I'm on a rolling contract which is pretty stable, better to be safe than sorry! I also have several accounts, I have emergency funds, but they are nothing to do with the bike so don't count as savings for it Ooooo I'm excited! I'm cutting everything back to save as much as possible so I can get the bike as soon as possible!
I assume that by cash you mean a debit card transaction? Cash can represent all sorts of problems for large amounts, and due to money laundering laws its not legal tender above £10,000 so the dealer are not obliged to take it - in fact they should refuse. You will have little to no bargaining space at all without finance, why not take the bike on finance (the dealer gets their commission, and is more likely to shift on price) and settle the finance immediately (provided you can without penalty) The other option is to get a credit card with a cash back, air miles etc reward scheme. Use the card for as much of the purchase price as its limit will allow, then settle the bill when it comes in. You get the cash back or air miles / points, but zero charge. The worst possible deal is cash or debit card in all honesty. Why not sit down with the dealer and lay it out in front of him? you can work out between you the most mutually beneficial deal.
It depends on how its comprised. Cash isn't money, hence the reason any bank note has a statement on the front saying "I promise to pay the bearer on demand the sum of £x" Cash is only a representation of money in a physical and tradable commodity. There was a guy who thought he would get one over by trying to pay a fine in 1p pieces. When he turned up on the final day with a shopping trolley full of coppers he was surprised to learn it was only worth 20p, regardless of how many pennies he had. Strictly speaking cash is legal tender for any amount in the UK, however money laundering laws effectively render it worthless over £10,000. Scottish bank notes are also not legal tender in England, however they are generally accepted on a good will basis, as English bank notes are not legal tender in Scotland. The reason for this is the reality of constantly exchanging bank notes makes it unrealistic to restrict their use across the Scottish boarder Legal Tender Guidelines
There is another slant... Say you paid £10,000 in bank notes to a dealer. There is now a decent sum of money on a premises not really geared up to handle it. You can leave the dealers with your shiny new bike, and your mate can come in later with a sawn off shotgun and get a 'refund' Dealers just dont want that much money sitting around, its a liability.
If you think having 10k at a dealers is a lot of money I think you may be mistaken. How do you know whether they are geared up to store it? You really think multi million pound turnover businesses keep there cash stuffed in a drawer? Lol. Do you realise how much cash a main dealer has collected every day by secure collection? There's no other reason why they/we prefer finance than the fact it earns us more money. I earn more commision, and the business makes more profit. Simples.
