New PCP Deal

Norton Perth has released their latest PCP on the 961...

SP is £159 for 24 months, £961 deposit, £2025 Norton contribution.

CR is £183 for 24 months, £961 deposit, £2025 Norton contribution.

Apr 6.1%

I know from FB that a few people are disappointed with this latest offer as it’s not as good as the previous.

That’s a bit naive IMO as the previous offer was so ridiculously good I fail to see how anyone is making any profit out of it !

However, there are also people who did get the previous deal who are unhappy with their bikes…

Which got me wundrin, does anyone in the UK know if it’s possible to transfer ‘ownership’ / liability of a PCP to another person ?

Fast Eddie said:

I know from FB that a few people are disappointed with this latest offer as it’s not as good as the previous.

That’s a bit naive IMO as the previous offer was so ridiculously good I fail to see how anyone is making any profit out of it !

However, there are also people who did get the previous deal who are unhappy with their bikes…

Which got me wundrin, does anyone in the UK know if it’s possible to transfer ‘ownership’ / liability of a PCP to another person ?

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In most cases no, there are a few contracts that allow it but most explicitly do not allow it. Even if its allowed then the steps required may make it pointless.

WTF is PCP, other than Angel Dust (phencyclidine)?

Personal contract purchase....finance agreement

Defer cost of bike/car until the end of an agreed period with an agreed final valuation fee.....for example...

Bike costs £10k
Agreed value after 3yrs is £6k
Customer needs to pay/finance the remaining £4k over 3yrs
At end of 3yrs customer can buy/re-finance bike for £6k, walk away and pay nothing or trade in for a new bike

The numbers can be massively tweaked to give better (perceived) deals hence the previously ridiculous Norton deal.

These products only work if you want a "new" bike/car every 3-5yrs and have a monthly budget in mind. They also work for dealers as 1) they sell more new bikes and 2) they get a guaranteed stock of 2nd hand bikes every year being returned

There are a few on FB unhappy with their new SP. Irate owners will always coalesce on an owners forum to vent - understandably. It’s what we do here.

I guess also there’s gonna be a few niggles on a hand built bike, especially (maybe) if they are pressed by the volume generated through PCP deals - shouldn’t happen with an effective QC system but does of course.

There’s a couple that really fall short in their re-design work though IMO. There’s reports of continued rocker cover gasket failure - from the outset, or through dealers not re-torquing the head at 500 miles I’m not sure. Also some reports of erratic idle still. These faults were very well known and should’ve been beaten to death!

Not a huge risk though you would think, other than the pain of getting their bike to the dealer. Get it sorted fully under warranty and motor on. If not happy at the two year point, return the bike.

I think even the SP is gonna be an enthusiasts bike that’ll need a bit of extra love; vibration alone will necessitate that. My guess is that a couple of those FB owners bought the SP mainly cos of the spankin’ PCP deal, without too much thought to ownership of such a bike.

Couldn't agree more. Saw £69 (or whatever) a month and stopped thinking at that point

I agree, wasn't sure what I was letting myself into. Saw the deal and I said to myself I must do it. Since then I have watched all the influencers on Youtube give their 10 cents worth and my final conclusion is I like it. Of course it has its foibles, but none are show stoppers and I personally think it looks like a work of engineering art.

This is my first bike since a "blade' 22 years ago and I am now looking at a Suzie GSX S1000.

I wouldn't count Norton out TBH but you need to go into it knowing you'll never own it....unless you pay the balloon which may hurt you in the future

kev said:

I wouldn't count Norton out TBH but you need to go into it knowing you'll never own it....unless you pay the balloon which may hurt you in the future

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If owners choose to keep the 961 and pay the balloon payment (and I suspect many will) I’m not sure why that may ‘hurt’ them in the future Kev? Or why they should view ownership as if they’ll never own it?

Beyond a few niggles and this recall, I strongly suspect that these bikes will be well sorted before the end of the warranty period. They’re built like the proverbial tank - their foibles well known. No reason to think they won’t be reliable into the future nor that factory support will be anything other than an acceptable standard if issues arise.

Spoke with Gary yesterday (Tulley). He’s just ridden to a wedding in Charleville on his CR - got caught in a long detour due to flooding and was left with a single day slog of 1200km to make it on time! He’s just shy of 120K km total mileage on his 961 and busy planning his next tour!

Apologies - what I meant by "hurt" was hurt their wallet! The balloon (from memory) was £12k so basically in 3 years time you need to pay £12k to keep a 3yr old bike which may hurt if there's better alternatives launched between now & then

kev said:

Apologies - what I meant by "hurt" was hurt their wallet! The balloon (from memory) was £12k so basically in 3 years time you need to pay £12k to keep a 3yr old bike which may hurt if there's better alternatives launched between now & then

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No need mate - just my opinion. Understand where you’re coming from.

kev said:

Apologies - what I meant by "hurt" was hurt their wallet! The balloon (from memory) was £12k so basically in 3 years time you need to pay £12k to keep a 3yr old bike which may hurt if there's better alternatives launched between now & then

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The other point IMO, looking at current prices etc, is that I believe the market value of these bikes is highly likely to be lower than the balloon payment.

Fast Eddie said:

The other point IMO, looking at current prices etc, is that I believe the market value of these bikes is highly likely to be lower than the balloon payment.

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Agreed FE - that may be the case depending on how many hit the market at the end of the PCP period, and which other models Norton (and others) have brought out in the interim. Especially if Norton link deals to new machines.

For those that intend to keep the bike though, my guess is market value will mean little or nothing.
There’s nothing else like it on the market now, nor will there be in the future - that fact, along with its aesthetic appeal make this bike a keeper for many. Shifting market values having no real import.

Who knows where market values will go in the more distant future when the 961 is no longer manufactured. Ownership is a personal thing of course and personally speaking, ‘I couldn’t give a rats’ what the market value of mine is - it’s not for sale. I think a good number of new owners will have the same view.

Firstly there won't be any new direct competitor to the 961. Its unique, only sold in the UK and likely will be out of production when the new Norton models are rolled out.. whenever that may be. I know several new owners bought via PCP, all are on the older side and all intend to keep the bike and pay the balloon payment, They have the money, its sitting in a bank earning interest for the next 2 years. Its possible you could hand back 'your' bike and buy another ex PCP bike for a lower price. But will it be low enough to risk the change, when you know the history from day one of your bike.. you know its not been thrashed or mistreated by someone who just bought it as it was so cheap. Also the Ex PCP bikes will be going back to the Norton dealers, they ain't going to be selling them off cheap. IMO the 961 will be seen as a true classic, and will retain its value. Much more so than say a Triumph T120.

Totally agree. That's why I (was in the fortunate position) to pay cash for mine......and now having paid my bill to Stu (!!!!) it's definitely a keeper!