Explain PCP to me! Got a V4S quote today.

[Domo]

Popped along to Ducati to enquire about a Panigale V4S today.

Financial details
£10K trade in for my '67 959 Panigale which has 1,400 miles on the clock + underslung Akra exhausts. I bought it outright for £15K 13 months ago.

Cash price: £23K (said he's knock of £1K as I said the part-ex seemed low).
Deposit: £9.2K (maximum permitted / 40%)
Credit: £13.8K
Hire Purchase charges: £2.8K
Total Payable: £25.7K
FINAL REPAYMENT: £13.2K

So after all that my question! In 3 years time, given I will be doing < 2,000 miles per year I assume a V4S Panigale will be worth more than £13.2K (even the dealer said that). But what would that mean to me? Do I get anything back? Sorry - total noob to this. I suppose it can transfer as a deposit on a new bike and just keep the repayments going?

I'm battling with the idea but I love the V4. To give up an expensive bike for a PCP deal seems nuts. But i guess that's how things work if you don't have the $$$ up front!

 

[Domo]

To be honest I've been sat here thinking about it this evening and I'd have to be mad to go for this. Not just the financials, but as I said in my OP it's giving up a bike I own outright for something I might have to give back in three years and end up with nothing. So as tempting as the V4 is, I think I'm done considering it. If things change in a few years time and I've built up the funds, maybe then. But for now the 959 and my trusted YBR125 will do for now.