A tenth of all motorbikes reviewed by vehicle
checker HPI in 2011 had outstanding finance on them, while 7% had
been written off by insurers and 7% had a number plate change in
their history.
A motorbike purchased with finance owed on it
means the buyer may be liable for the debt as a new owner or could
lose both the bike and their money should the original financer
wish to reclaim the vehicle.
Go deeper with GlobalData
Bike finance has received a push from
manufacturers of late with both Yamaha and Ducati launching a range
of finance deals since the New Year, following 0% PCP offers in
individual Ducati garages in 2011.
Both brands are financed by Black Horse in the
UK and Yamaha
has spoken of the increase in motorbike financing due to the
current economic climate.
As such, HPI has dropped the price of its
motorbike checking service from £29.97 to £24.99 for full history
checks on three machines.
The HPI check includes referencing against a
database of 7m ongoing finance interests, referencing the vehicle
registration number with the chassis number and a guarantee of up
to £30,000.
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By GlobalDatarichard.brown@vrlfinancialnews.com
