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Should I Buy A Used Motorcycle Or Purchase A New Bike

The process of purchasing a two-wheeler is a delicate one. It’s a large investment, and you need to take a host of factors into account before you buy the vehicle of your choice.

One important thought you need to consider is whether to buy a second-hand motorcycle or a brand new bike. While deciding between these two options, you’ll have to take into account the amount of money you’ll be spending and how frequently you’ll be using the bike. Here are a few advantages offered by these choices.

Fresh off the Showroom

Variety of Choice: 
If you’re buying a new bike, you can select your ideal vehicle from a list of different models. Chances are, you can even ask your dealer to customize it the way you want it. If that isn’t possible, you’ll still have the benefit of selecting a bike in your favourite colour and style.

Mint Condition: 
A new motorcycle hasn’t even seen the road yet. This means that it’s in the best-possible condition. You won’t have to deal with the possibility of cracks, scratches, or any other kind of damage. The newest bikes are also built using the latest technology, and perform better than many older models.

Also, you’ll receive a warranty along with your new vehicle. Of course, to ensure full financial security, you should opt for motorcycle insurance separately anyway.

Inexpensive Maintenance:
Most dealers offer free maintenance when you purchase a brand new bike. This often lasts for a stipulated period of time, or until the bike is used for a certain number of kilometres.

These are few of the many benefits that you can avail when purchasing a new bike. But, of course, buying a used bike comes with its own set of advantages.

Old is Gold

Easier on Your Wallet:
A used bike is a lot cheaper compared to a brand new version. You’ll be required to spend a smaller portion of your finances and you’ll still be able to enjoy the benefits of owning a two wheeler. Also, when you buy a new bike, its value drops tremendously the moment you leave the showroom. In the first few years, your new bike will experience a large amount of depreciation. When you purchase a used bike, it doesn’t depreciate at as rapid a rate, so you save money in this way as well.

Choose Vintage Models:
You may not be able to customize a used bike as per your requirements, but buying second-hand means that you’ll have the option of choosing models that are no longer available on the market.

Of course, taking out an insurance policy on a used vehicle may be turn out to be a little more expensive. But with plans like the 3 year bike insurance scheme, you won’t have to spend too much on a policy.

A few insurers even allow you to apply for your bike insurance online. This makes your work a lot easier!

Before you decide whether you should opt for a new or used vehicle, here are a few questions you should ask yourself.

1. Is your Credit Rating up to the Mark?
If you’ve got a good credit score, most dealers will be willing to provide you with a variety of offers on the purchase of a new two wheeler. They may be willing to allow you to pay a lower amount as down payment. This also helps if you’re planning to take a personal/auto loan to buy your vehicle.

If you’ve got an average or poor credit score, on the other hand, buying a used bike would be a great option. You might not have to take out a loan and your purchase won’t be affected by your credit rating.

2. How Long Do You Plan on Keeping the Bike?
The depreciation on a new two wheeler is a lot more rapid than that of a used bike. This means that the value of a new motorcycle reduces a lot faster than that of a second-hand one.

If you’re planning to use your vehicle till it stops functioning, this shouldn’t affect your decision too much. However, if you’re considering selling the vehicle after a good 2 to 3 years of use, you’re better off buying second-hand.

If you purchase a new two wheeler with the intent of selling it after the first couple of years, you’re likely to lose out on a large portion of the value.

3. Can You Fund the Maintenance Costs?
In contrast to the value-depreciation picture, maintenance charges on a used two-wheeler are potentially a lot higher than what you would spend on a new vehicle.

So, before deciding to purchase a bike, consider whether you can afford the costs of maintaining your vehicle over the years.

These are a few points to consider before you decide on buying a new or a used two wheeler. To reduce your overall costs further, take out a long term two wheeler insurance policy to ensure that you can protect yourself financially in case of any mishaps.

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