From the Blog
Know The Resale Value Before You Buy A New Motorcycle
Motorcycles are popular all over the world for good reason. They’re fun to ride and they give the rider a sense of freedom that he or she may not be able to find anywhere else. When you’re ready to jump in and purchase a motorcycle, the options can be overwhelming. There are many different styles to choose from, such as cruisers, sports bikes, road bikes, motocross bikes and even scooters.
There are also many different popular brands such as Harley Davidson, Kawasaki and Triumph, just to name a few. With all the options available, it can be easy to overlook one important thing when purchasing a motorcycle and that is its potential resale value.
Knowing a bike’s resale value can help you make more educated choices when making a purchase. There are several different reasons why it’s a good idea to know a bike’s resale value. You may want to give your insurance company an estimate on the bike’s value or you may simply want to know what a fair price would be when you intend to resell. You already know that as soon as you ride your bike off the lot, its value drops significantly, but how much does it drop and which bikes have the highest resale value?
Some motorcycle styles hold their value better than others. Cruisers come in first with the highest resale value. They are closely followed by sports, dual sports and road bikes. Scooters and minibikes are at the bottom of the list, as their value decreases faster than the other types of bikes.
Brand is also a factor that determines resale value. Harley Davidson, known for its quality and longevity, leads the group with the highest resale value. Kawasaki and Yamaha come in close behind.
Bike resale value is also affected by mileage. Often sites calculate projected mileage at 20,000km per year, but that figure may be less or more for you depending on how often you ride your bike.
When purchasing a bike, consult one of several different authorities on Motorbike Sales. There are databases online which you can search to help you understand how style, brand and mileage affect the amount you’ll receive when either selling or trading in your bike. Some of databases are easy to use. Simply plug in the year, make and model, and a quote for past years is displayed, giving you a better idea of how your ideal bike will perform when it comes to resale value.
Take your time researching different styles and brands of bikes. Purchasing a motorcycle is a personal decision, and it’s important that you choose a bike that reflects both your style and personality, while also taking into account how much you can expect your bike to be worth when you decide to either trade it in or sell it in the future. Above all, get out there, choose your bike and have a great time. The open road awaits you.
Have your say
You must be logged in to post a comment.