Buying a New vs. Used Motorcycle: What's Better for You?

A new or used motorcycle, which is better? That is one of the most puzzling questions anyone wishing to buy a bike asks themselves. Buying a motorcycle or a collection of motorcycles can be a thrilling experience for any biker.

However, deciding whether to buy a used or new bike can be challenging. You will need to weigh your options to determine which is ideal. Below we provide a guide to the pros and cons of each to help you choose the best option.

The pros of buying a new motorcycle

The decision of whether to get a new or used motorcycle will solely depend on you and what you consider best. One thing to note is that both used and new motorcycles have pros and cons. Here are some pros of buying a new bike:

A new motorcycle loan has cheaper interest rates

The method you wish to finance the motorcycle purchase should play a crucial role in deciding whether to buy a used or new bike. If you plan to use a motorcycle loan, a new bike will accrue lower interest rates than a used one.

A motorcycle loan for a new bike is cheaper as it awards the lender less risk. It is also easy to access loans for new motorcycles. Another essential point is that new motorcycles require less expensive insurance than used ones.

Safer because of new features and technologies

A new motorcycle is ideal if safety is one of your top priorities. New motorcycles often have the latest technology and safety features compared to older ones. Some of the latest technologies that help to prevent accidents include:

• Motorcycle illumination system
• Automatic clutch and shift
• Electronic tire pressure monitors
• Anti-lock brakes
• Hi-tech stability control systems

Furthermore, the newness element of the bike ensures that they are not damaged or faulty. Therefore, you can have peace of mind riding the new motorcycle, especially if it is your first time owning one. Also, the new bikes are more fuel efficient.

Cheaper running costs

The running costs of a new motorcycle are cheaper than that of a used one. For one, new motorcycles often come with at least 12 months' warranty. The warranty can help cover any non-service item problems.

However, you will still have to cater for servicing costs. Also, a new motorcycle has brand-new features requiring minimal maintenance compared to a used one.

Good condition

Many motorcycle owners have the habit of meddling with their machines by tuning and swapping parts. With a new model, you do not need to worry about any meddling. You will get your motorcycle fresh and new from the manufacturer.

Buying a new motorcycle means getting a bike that is free from modifications, accidents, and repairs. You will also get a blank canvas which you can modify to meet your needs.

Cons of buying a new motorcycle

Despite the many benefits of buying a new motorcycle, there are also some disadvantages. Here is the top con:

Buying a new motorcycle is more expensive than a used one

The cost of a new motorcycle is one of its main drawbacks. A new bike is more expensive than a used one. On average, a new motorcycle costs between $10,000 and $20,000. The expensive cost is because the bike is often fresh from the manufacturer, has the latest features, and is entirely new. If you do not have the necessary funds, a new motorcycle may not be ideal for you.

The pros of buying a used motorcycle

Unlike a new motorcycle, a used motorcycle may have one or more previous owners. They also may still be operational and offer you several benefits. Below are a few pros you can look forward to:

They are cheaper compared to the new motorcycles

One of the greatest benefits of buying a used bike is its affordability. Compared to new motorcycle models, used ones are cheaper. On average, a used motorcycle costs between $4,000 and $10,000. The reasonable price of the used motorcycle ensures that anyone with limited funds can accomplish their dream of owning a bike.

The primary thing you should consider is whether the bike is in good condition. In addition, if you are a beginner motorcyclist, a used motorcycle can be ideal for you.

You can purchase the motorcycle from private sellers

A used motorcycle purchase is not limited to dealerships only. You can find them in the private market, such as Craiglist. You can also buy them from friends or family members. One main benefit of buying from a private seller is avoiding any extra dealership costs.

Most motorcycle dealers will charge you an extra fee, especially if they help you to access a motorcycle loan. This makes the process slightly more expensive than buying from a private seller.

Ideal for motorcycle collectors

Used bikes may be ideal for you if you are a motorcycle collector. The used bikes can help you access vintage motorcycles and models that manufacturers no longer produce. They ensure that you can expand your collection.

Hold its value in depreciation

Unlike a new bike, a used bike can hold its depreciation value better. New bikes are likely to depreciate faster than used ones. Therefore, if you wish to sell the used bike along the way, you will not lose a lot of money.

Also, a used bike is ideal if you wish to buy a bike for only short-term purposes. Your resale value will not decrease by much when it is time to get a replacement.

The cons of buying a used motorcycle

Buying a used motorcycle ensures you get a bike that has been through several owners. However, this may make encounter some disadvantages. Here are some of cons buying a used motorcycle:

Used motorcycles are unpredictable

Buying a used bike means purchasing something that has significant issues, such as modifications, repairs, or being in an accident. The problems may cause the motorcycle to come with unpredictable mechanical issues.

Sometimes, the seller may fail to disclose any issues the motorcycle has. This may prevent you from predicting the necessary maintenance the bike will need. Initially, buying a used motorcycle is cheaper than a used one but requires more service cost than a new one. However, you can still find a used bike in perfect condition.

High interest on used motorcycle loans

If you wish to finance your motorcycle loan using a loan, you will have to pay a higher interest rate. Most lenders view used motorcycles as a riskier investment than a new motorcycle. Also, access to a used motorcycle loan may be challenging, especially if you buy from a private seller.

Some lenders may have strict requirements, such as mileage and year of manufacturing. However, despite the high-interest rate, you will still have a motorcycle loan at your disposal.

Wrapping up

Both used and new motorcycles can ensure you achieve your dream of owning a bike. However, the decision to buy a used or new motorcycle should solely depend on which meets your specific requirements. Make sure you weigh in on the pros and cons of both bikes before you make your decision. Consider how much you can afford to pay, your safety requirements, and the conditions of the motorcycle.