As an alternative to paying for your motorcycle up front in a single payment, we offer the facility to purchase the bike using one of several different funding options.
These funding options allow you to spread the cost of the motorcycle over a period of time depending upon your circumstances, i.e. three years. We offer Hire Purchase (HP), Personal Contract Purchase (PCP) and Restricted Use Loans (Personal Loans). These options are detailed below:
All of our sales staff and senior management team are qualified as SAF Experts - specialists in Automotive Finance - and undertake regular training to ensure our high standards are maintained.
Grafton Motorcycles is regulated by The FCA (Financial Conduct Authority) and we have made a commitment to Treat Customers Fairly in all areas of our business.
Whether you are buying a bike, a service or clothing, we will always provide information regarding the features and benefits of the relevant funding options that are suitable for your needs. That way you can be confident that you are making an informed decision and are dealing with a business where putting the customer's interests first is at the core of our culture. After all, we want you to return to us and tell all your friends and family about us.
Hire Purchase (HP)
A Hire Purchase agreement is where you chose the motorcycle you want and agree on how much deposit to put down. The rest of the cost of the motorcycle, plus interest, is paid in equal monthly payments.
On Hire Purchase the loan is secured against the motorcycle and ownership is obtained when all of the monthly payments have been made plus the Option To Purchase fee.
Personal Contract Purchase (PCP)
A Personal Contract Purchase agreement is where you chose the motorcycle you want and agree on how much deposit to put down. Then based on your expected annual mileage and how long you would like the agreement to run, a Guaranteed Future Value (what the finance company predict your bike to be worth at the end of the agreement), will be calculated. This GFV is deferred until the end of your agreement. Your monthly payments are then worked out on the difference between this amount and the cost of the motorcycle (less your deposit), plus interest. Meaning you have lower, fixed monthly payments.
At the end of your agreement, you have 3 options:
Retain - Pay the GFV and the Option To Purchase fee and you own the motorcycle
Return - Hand the motorcycle back to the finance company without paying the GFV. If you have exceeded the agreed mileage or the motorcycle is not in good condition, there may be additional fees to pay
Replace - Part Exchange your motorcycle. This should cover the cost of the GFV and then you can start looking for your next motorcycle with the dealership
- Please note PCP may not be suitable for high-mileage users
- Please be aware total cost paid is more with PCP
Restricted Use Loan (RUL)
A Restricted Use Loan agreement is where you choose the motorcycle you want and agree on how much deposit to put down. The rest of the cost of the motorcycle, plus interest, is paid in equal monthly payments.
On Restricted Use Loan, you are the legal owner of the motorcycle from the beginning of the contract.
These mainstream finance types are available from a number of lenders including Honda Financial Services, Close Brothers, MotoNovo and First Response. In the event that your application is declined for mainstream 'Prime' finance then we may be able to offer finance through one of our subprime brokers (subject to status). As subprime finance rates are considerably higher than our typical APR figure then a further discussion concerning increased payments and affordability would need to take place prior to this application process.
© Copyright 2024 Grafton Motorcycles. All rights reserved
Grafton Motorcycles Limited trading as Grafton Motorcycles/ www.graftonmotorcycles.co.uk is an appointed representative of Grafton Motorcycles Limited, which is authorised and regulated by the Financial Conduct Authority (FCA No 672459) Grafton Motorcycles Limited permissions ad a principal firm allows Grafton Motorcycles Limited trading as Grafton Motorcycles Limited to act as a credit broker, not a lender, for the introduction to a limited number of finance providers and to act as an agent on behalf of the insurer for insurance distribution activities only.