Purchasing a bike is on the dream list of every individual irrespective of age group. Everyone has specific criteria for the features, body style, and additional functions they want for their bikes. The common question arises whether one should go for a new bike or consider a used one. Bike valuation influences this decision immensely and helps to get a good deal on second hand bikes.
According to Financial Express, Used Bikes sales went up by 27% during COVID-19. For beginners, it is generally recommended to go for the second-hand bikes to get themselves ready to master the road adventures. The people who are well-versed in the art of driving a bike usually prefer to buy a model so that they don’t have to compromise with quality and features. It is up to the people’s preferences whether they want to go for a used vehicle or a new one. Many factors influence the above-mentioned decisions as no one harms their budget while getting something they desire.
Major factors you should consider while buying second hand bike:
While purchasing a new and sophisticated bike model, the individual has to pay higher price than a used bike. Therefore, to own a new vehicle, one has to burn his pocket in exchange for the features and body design.
Buying a second-hand bike does not require the individual to splurge the expenses as the price difference can go up to 60% in many situations. However, the person has to make sure that the price is worth paying to buy the vehicle. To determine the estimated market value, one can check used bike price with the help of valuation tools available online and can find the price of bike based on its actual condition, year and KM driven.
Purchasing a new bike enables the owner to freely explore the functions and technology inculcated in the vehicle. Furthermore, new features add more fun to the driving experience as well. For instance, a new bike offers better mileage than a used one. However, to maintain that value, one has to spend on the vehicle’s maintenance.
While opting for a used bike, the features you’ll get may not be smooth as in the new one. So, the person has to compromise with the degraded functions and bike condition. Either the person has to go with what he got or spend money on the vehicle to get everything altered.
Buying a new bike would save the person from spending on the defects after the purchase for a certain period. In addition, the person has access to the free workshops to service the vehicle for a particular time limit. In simple words, the extra expenses are covered under warranty, saving the individual’s money.
There is no warranty while buying a used bike. The buyers must make all the repairs by themselves. Also, pre-owned bikes usually need repairs too often compared to the new ones. Of course, that also depends on the usage by the previous owners. But if the repair work becomes frequent, it may affect your savings and be frustrating.
4. Resale value
After a certain duration, the depreciation value of the vehicles goes down. Therefore, if anyone wants to sell their bike, being a first owner, they’ll not be able to do that for the same price or a price somewhat near what they expect. The bike’s value can go up to 50% below the actual price.
In the case of second-hand bikes, the price lowering would not make a bigger difference if a person wants to sell a pre-owned vehicle. They would be getting nearly the same price for which they have bought the vehicle. So here, used bikes have a plus point.
5. Vehicle history
New bike lets you be the first owner, and you don’t have to worry about the vehicle history. In addition, the bike would have more worth as it has not been bought from someone else.
Purchasing a second-hand bike may put the buyer in the worry of its vehicle history. For example, the vehicle could be stolen, or it may have a record of being involved in some illegal activities. Therefore, one has to be careful while purchasing a second-hand bike.
Also Read: Reason to Buy Hero Bike in 2022
Considering buying a second-hand bike may go well with your expense, but one has to be aware of the factors that influence the price of the vehicle. Bike valuation makes it an easy task to perform, and it is done by entering the general details of the vehicle.
Either opting to buy a new vehicle or a used one has its pros and cons. One must keep in mind the savings and the purpose of use to make it easy to decide. Make sure to check used bike valuation so that the buyer can negotiate the price well.