| Motorcycles and Twowheelers: Buying motorcycles - "Buying a Used Motorcycle Can Be a Good Choice" Thursday, 29 July, 2010 | Home | Suggest a Link |
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Have you checked out the price of a new bike lately? It wasn't that long ago when you didn't have to fork out that much dough for a new car. In fact, many bikers will remember when you didn't have to pay much more than that for a modest house. The prices for houses and cars have shot up over the years. And, so have the prices of motorcycles. The point is, the price of a new bike can take a good-sized bite out of any budget. Buying a used motorcycle is one way to lessen the dent a motorcycle will make in your wallet.
There are a number of benefits to buying a used motorcycle. The first is, of course, that you can save a lot of money. As a general rule, motorcycles lose a higher percent of their value when they roll out of the showroom than do automobiles. The possible exception to this is Harley-Davidson. Harleys always seem to retain a high resale value.
The second reason is that many motorcycles are not ridden many miles each year, especially in colder climates. So, it is easier to find a good, low mileage bike. Makes such as Moto Guzzi are especially durable and a low mileage model will have many trouble-free miles left in it. A third reason is that if there are any quirks to be worked out of a new model or a particular machine, these will likely have been done by the time the second owner gets the bike.
There are a number of sources available when buying a used motorcycle. You can buy a bike from the current owner. The classifieds online and in the newspapers are filled with ads for used bikes. You can also check with a dealership for trade-ins. Bikes at dealerships will often come with a warranty.
So, how do you make sure you get a good deal? Here are a few tips on buying a used motorcycle.
First, check out a used motorcycle price guide. There are several good ones. A good one is the National Auto Dealers Association (N.A.D.A.) price guide [in the UK, check out UsedBikeGuide.com. ed.]. The prices in this monthly guide reflect the average price of motorcycles of similar make, model and condition across the nation. The price guide is issued monthly.
Spend a little time reading the reviews of various makes and models. Many of these reviews are posted on the web and they can give you some subjective information on what these particular riders think about the bike.
Check the condition of the motorcycle over closely. What is the condition of the drive belt, chain or drive shaft? Are the tires worn or weather checked? Has the bike ever been wrecked? Does it leak oil? Is the muffler or mufflers free of rust? Is the wiring in good shape? Does it start easily and run smoothly?
If the deal looks like a go at this point, ask to take the bike for a test drive. While you are at it, if possible, take it to your mechanic and get a second opinion.
If your mechanic gives you the OK, get your wallet out and enjoy the ride.
Most makes of motorcycles these days are well engineered and high quality machines. Don't make the process of buying a bike a bigger deal than it needs to be. Used motorcycles are generally excellent value, especially when compared to the price of new bikes. Besides, this is one time when it is fun to shop. So, have some fun buying a used motorcycle.
With the depreciation on motorcycles being so enormous after they are driven off the showroom floor, the potential for a buyer owing more on their motorcycle loan than the bike is worth it quite high. Owing more on your bike than it is worth is often referred to as the world of “up side down”.
Many people finding themselves in this situation discover that financial lessons are sometimes the hardest and most expensive to learn. Motorcycle loans of more than 48 months (especially without a down payment) put you in the position of owing more than the value of the bike.
Let’s
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The usual way new and even many experienced bikers decide on what bike they are going to buy is to look at what their buddies are riding, or what the magazines have been testing recently.
While both these options have some merit they are not without their problems.
Consider:
| a) | your mate may be a different size from you, they may be more or less flexible, they may be more or less experienced, their riding style and needs may be completely different from yours and so ultimately will be their choice of bike. | |
| b) | Magazine tests, the Read this article in full A Buyers Guide to Motor Scootersby Larry JohnsonBefore the 1920s it was an easy decision, a foot-powered push scooter or none at all. But once Gino Tsai from Shanghai, Taiwan developed the Razor scooter it changed everything. His motor scooters became popular so quickly there were people waiting in line for six months before they could get one. In the 1950s companies like Vespa in the UK started selling the first of their gas motor scooters. It was a big hit at the 1950 Motorcycle Show and quickly became a big hit in the UK as well. Vespa sold over 125,000 in the UK between the years of Tips For Finding A Motorcycle Loan With A Better Credit Scoreby Jay FranIt is common knowledge that motorcycle financing companies base high importance on your FICO credit scores when approving motorcycle loans. However, what many people overlook is that their FICO credit score can dramatically impact the term on their motorcycle loan along with the interest rate that is assigned to the motorcycle loan. In order to gain better
motorcycle loan rates, it is highly important that you think of
your FICO credit score as a picture of how risky you are to the
lender. Your FICO credit score is essentially a benchmark which
motorcycle financing companies use to grade you and assign a
risk to you when applying for a motorcycle Common mistakes motorcycle buyers make when looking for a motorcycle loanby Jay FranWhether interest rates are high or low or it's the end of a model year with lots of incentives, motorcycle buyers tend to make the same mistakes when shopping for a motorcycle loan. Here are four common mistakes motorcycle buyers make with motorcycle loans. Shopping for a motorcycle before shopping for a motorcycle loan.Many motorcycle buyers enter the showroom looking for a motorcycle before they determine how much money a motorcycle lender is willing to loan to them for the purchase of a motorcycle. There is no need to shop for a $20,000 Harley Davidson motorcycle, if a lender is only |
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