Legs walking towards a motorbike parked in the street.


Black Horse Personal Contract Purchase (PCP) can help you buy your dream motorcycle with lower monthly repayments than a Hire Purchase (HP) product as a large proportion of the amount you repay is deferred into an optional final repayment.  You will pay more interest on a PCP agreement than a HP agreement for the same loan amount, term and APR* as your balance reduces more slowly due to the optional final repayment.


Agree an initial deposit and term with the dealer and decide how many miles you'll travel each year.
The dealer will then work out the monthly repayment amount and the optional final repayment amount, which is based on the anticipated value of the motorcycle at the end of the agreement.
At the end of your agreement, you can part exchange the motorcycle, return the motorcycle (return conditions apply) or pay the optional final repayment and own the motorcycle.
Black Horse buys the motorcycle on your behalf and owns it for the duration of the finance agreement.
• After you've made all the repayments including the optional final repayment and any interest, you will become the owner of the motorcycle.

*Annual percentage rate of charge - the is the total cost expressed as an annual percent of the total amount of credit.  The APR is there to help you compare different offers.

At the end of the agreement you will have three choices:

Part exchange.   Subject to paying off your existing agreement in full, you can part exchange the motorcycle at the end of the term or any time during the agreement.   New credit agreements are subject to status.   The motorcycle could be worth less than the optional final repayment leaving you with a shortfall to pay before starting a new agreement.
Return.   You have the option to return the motorcycle to us at the end of the agreement.  To avoid incurring charges, the motorcycle needs to be in good condition and within the permitted maximum mileage.   
Click here to see our 'Good Condition Guide'.

Own.  Own the motorcycle outright by paying the optional final repayment.  A purchase fee of £10 is included.



Ideal if
• You like to keep your options open at the end of your agreement.
• You like to budget and know the exact repayment amount each month.
• You'd like to keep your monthly repayments lower by deferring a large proportion of credit into an optional final repayment. 

The choice is yours
• Choose any new or used motorcycle up to 7 years old at the end of the agreement. Some exceptions may apply.
• Minimum and maximum finance amounts may apply.

Things to consider
 You must be at least 18 years old and a permanent UK resident.
You must have, at a minimum, third party, fire and theft insurance for the full replacement value.
 You must have the relevant driving licence for the motorcycle.
The motorcycle is at risk of repossession if you do not maintain contractual repayments.

You do not own the motorcycle until the optional final repayment including interest has been made.
A significant proportion of the credit is deferred until the end of the contract so you should prepare for this.
Protection under the Consumer Credit Act Termination Rights and Protection under the Consumer Rights Act.

• Before you decide to apply for finance for a motorcycle, we would encourage you to make enquiries of the dealer to ensure you fully understand the history of the motorcycle so that you can make a fully informed decision as to whether the motorcycle is suitable for you.
• Dealers typically receive commission or other benefits for introducing you to us.  If you request, they must tell you, in good time before you enter into the credit agreement, the amount of any commission payable.
• Details of your credit agreement will be recorded with credit reference agencies.

personal Contract Purchase

Watch the product video or download our Motorcycle and Scooter product guide for more information.

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