The small print

The small print

Gingers get a lot of stick, from comments about their resemblance to carrots to their inability to go out in the sun. That however might possibly be changing because I have just been reading an article about how they are great pain killers……oops, I think I have that wrong. 

Having just read the article again I have realized that they are talking about the ginger plant, an altogether different thing and a lot easier to eat than a large hairy Scotsman.  According to a study in the Dental Research Journal, Ginger is as effective as Ibuprofen at relieving pain. Ok I know tooth ache is not the same as motorcycle ache,  (unless a spanner smacks you in the face during an oil change…it happened to me!) but it could be worth a try.  The study used placebos, ibuprofen and ginger on a test group of 67 adults and the ginger came out equal to the Ibuprofen for pain killing effectiveness.  Personally I can’t stand ginger tea, but I do love a ginger nut biscuit dunked in a cup of tea, so, I for one will be doing my own research, and I will let you know the results in a few weeks or so.

Ever heard of PCP, no not the drug, the finance deal, the one that is meant to make it so easy for you to own a motorcycle or car? I can’t stand them personally; to me it seems that you are paying a lot of money for nothing in the end.  They work something like this, you want a bike but can’t afford one, the dealer offers you a low monthly rental, with a  small upfront deposit)  over the next few years at the end of which you have the option to do one of three things.

The first is you can walk into the dealers, hand over the keys and walk away….remember to take your keytag with you!

The second is you can walk into the dealer, pay a large lump sum and buy the bike from them.

The third is you can walk into the dealer and claim the equity you built while renting the bike and use it as a deposit on another PCP deal. This equity is in the form of a guaranteed buy back price from the dealer.

For example you are offered a deal on the bike of this week’s dreams . $3000 deposit and $150 a month for the next three years with a final payment price of $5000…that is $13400, all well and good. The guaranteed by back price is $7000 so in theory you will have a $2000 equity in the bike.  However that buy back price only applies if you decide to take out another PCP deal with them and it is only a guaranteed price if you stick to all the conditions laid out in the contract. These normally include, a limited yearly mileage,  all servicing has to be carried out by an authorized dealer at the specified times, any other repair work has to be carried out by an authorized dealer, no aftermarket accessories unless authorized in the contract and the bike has to be returned in good condition. 

So if you go over the mileage you will pay for each mile over you have done with a drop in the guaranteed buy back price….and so it is for all the other conditions.   PCP’s are not bad deals, many offer effectively a 0% finance deal over three years, if you can be sensible enough to save up for that last payment. Most people however are not that self controlled, life gets in the way and they end up  either going into another deal, which is what the dealer wants,  or walking away and again the dealer wins because, walk away and you get nothing, even if the equity is more than the final payment..that is normally written into the fine print of the  contract!

I wouldn't want to force you !  (sorry)

On the other hand instead of buying a new bike buy a good second hand one, there are a lot about now thanks to PCP’s and you can use the spare money to buy one of these, HJC’s new Luke Skywalker helmet!

Stay safe

Ratso

Leave a comment