Leasing info
https://www.rideapart.com/articles/2...er-spyder/amp/
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The "deal" quoted in the article is $1000 down and $149 a month for 36.
$1000 + 36 * $149 = $6364 on an $8500 Ryker.
If someone turns it in after the lease ends, BRP owns a 3 year old Ryker for $2136!
No, I didn't account for interest, but I also used MSRP.
Seems a little offsidedly stacked in their favor. Moreso than a car lease. If it's a good lease... The lessee should have the option to buy out the vehicle for the remainder of the balance. In this case the $2136.Quote:
Originally Posted by SpyderChris
One question I have about the lease is what will be the mileage limitations
Has anyone seenanything about mileage? If its unlimited I’m in!
I wonder what the Buy-back number is going to be on those three year-old Rykers? :dontknow:
It will be unlimited just like the warranties. BRP has no method of handling mileage on bikes for which instrument clusters fail. IE they cannot program new clusters to read the actual miles, the new cluster resets to zero. This is a large part of why they have never had a mileage limit in the warranties. Same is true for other BRP product lines. Will very likely carry over to the Ryker lease. It already does for Spyder leases started last year.
The bike must also be in good repair and functional when turned in.
Interesting information. Leases always favor the manufacturer. It's similar to an expensive rental.
RE: Warranty--who pays for repairs/servicing during and when the warranty expires? Do I recall that the warranty on Ryker was one year? If its the standard two year--then there is still an extra year.
If you are going to lease--make sure that ALL the fine print is understood. This is something new for all of us.
:agree: This is a bit like going to a casino... and placing a three year bet! nojoke
They keep building more casinos; with the money we thought we'd be winning... :banghead:
While I do recommend an extended service contract to cover repairs the full length of the lease, the bet is not all bad and its not that difficult to figure out.
BRP or the finance company (Sheffield) is betting the bike will still be worth more than $2136 for this example at the end of the lease term. You are betting it will be worth less. One party will come out slightly ahead and its likely to be the one setting the terms....
If you buy instead of lease, the bet is still similar for the owner, the numbers just shift a bit. Either way the finance company makes money.
Oh, one other point on the low interest loan rates BRP offers through Sheffield. The loan is front end loaded, not linear. IE interest is paid well ahead. If you run the full length of the contract it comes out about the same, pay off early and they keep interest never actually earned if calculated on simple interest. IE the effective APR for a loan paid early is several points higher. You are better off with a credit union that uses simple interest with no prepay penalty. Its not big numbers but can be several hundred bucks. GMAC used to do this as well. FMC never did and neither do most banks or credit unions. Its a tactic of finance companies and payday loan outfits buried in the fine print.
I have a f3 so now I can wait for a Ryker to come off of lease CHEAP
Yeah, but now you're buying something that has most likely been beat to within an inch of its life and has no warranty..... But as they say, different strokes for different folks....Quote:
Originally Posted by PocoToro
:agree: Leased vehicles generally get used more. In three years it will be interesting to see if the lease program continues. I am sure we are going to hear lots of pros and cons in the next couple years.Quote:
Originally Posted by hypurone
I am just a watcher and do not intend to be a buyer of the Ryker. Been spoiled by the RT. If BRP ends up with a worthy successor to the RT--then...its possible. :popcorn::popcorn:
Yup! I can't imagine my ryding life without my F3-S! :yikes: There is no going back to 2 wheels with my injuries and while it is "usually" more fun to ryde a slow byke fast than it is to ryde a fast byke slow, I'm not feeling it in this case with the Ryker....Quote:
Originally Posted by akspyderman
That may be true normally, but with the Ryker I could see a lot of people that aren't sure if the 3-wheel life is for them taking the leasing option, figuring they'll have 3 years to decide. I could then imagine a lot of those people not using it nearly as much as they thought they would and turning it in after the lease with very few miles on it. Time will tell...Quote:
Originally Posted by akspyderman
Sorry for any confusion. By "used" more often I was thinking along the lines of "beat up." Like what happens with rental vehicles. Not mine...therefore I can do X with it.Quote:
Originally Posted by SpyderChris
Is this option available from Canadian dealerships?