When buying a motorcycle, the key factors to consider are the power, the intended use, and the appearance of the bike. You will definitely want to make a lasting impression when crossing city trails or expanding off-road areas. An important point that is often overlooked is whether to buy a new bike or a used bike. Although this does not seem to be a major factor in terms of outstanding features of bikes, it will certainly make a difference in terms of finances.
Let’s compare the advantages and disadvantages of these methods:
Buying A New Motorcycle:
Compared to second-hand bikes, the emotional feeling of buying a new bike is certainly unmatched.
When you buy a new two-wheeler in the showroom, be it a motorcycle or a scooter, you are getting a vehicle with the latest features and equipment provided by the manufacturer. Also, compared to second-hand bikes, the emotional feeling of buying a new vehicle is certainly unmatched.
With a new car, you will also be protected by the manufacturer’s warranty, which will cover any malfunctions after purchasing the motorcycle within the specified period. Also, in terms of maintenance, new two-wheelers will rarely be repaired or even reconditioned in the first few years.
If you plan to buy a vehicle financially, then a new two-wheeler will also attract less interest than a used car. In addition, the process of obtaining a bank loan for a new motorcycle or scooter is easier and you will have more options.
Compared to a used bike, a new bike will always be more expensive.
The biggest downside to new two-wheelers is price. Compared to used cars, they are much more expensive and you will have to pay a certain premium to experience the feeling of having a new vehicle.
Using a new car will involve many additional costs, such as registration, road taxes, and other RTO fees. Depending on the type of two-wheeler, the indirect cost you get can range from thousands of rupees to hundreds of thousands of rupees.
The depreciation rate for new two-wheelers is much higher than for used cars. The motorcycle lost almost 50% of its value in less than 5 years after its purchase.
Buying A Second-Hand Motorcycle:
The second-hand two-wheeler is more affordable than a new two-wheeler, and in some cases, the difference can be as high as 50%.
Price is the biggest disadvantage of new two-wheelers, while used cars are the biggest advantage. Used two-wheelers are more affordable than new two-wheelers, and in some cases, the difference can be as high as 50%.
Although the new two-wheeler lost almost 50% of its value in the first five years, the rate of depreciation has fallen since then. So not only do you pay less for a used car, but if you decide to sell it in a few years, you can get almost the same value if the vehicle remains in good condition.
Motor vehicle insurance premiums are calculated based on the market value of the vehicle, because second-hand cars have lost most of their value due to depreciation, so you end up paying much fewer insurance premiums than new two-wheelers. The older the vehicle, the lower the cost of insurance.
Buying a second-hand two-wheeler means that you won’t be able to control certain aspects of the vehicle, such as colors, variants, and features.
Reliability is one of the biggest issues when buying a used two-wheeler because you don’t know the history of the vehicle. Especially when you buy products from unknown private buyers. In a short period of time, even a beautiful-looking vehicle can undergo some mechanical maintenance. Therefore, ask your mechanic to thoroughly evaluate the vehicle before making a transaction.
Another downside to buying a second-hand two-wheeler is that you won’t be able to control certain aspects of the vehicle, such as color, variant features, and sometimes even the specific model you are looking for. Therefore, you may have to compromise on certain factors.
Used two-wheelers have little warranty or maintenance packages. Some used car dealerships may offer you a warranty of about 6 months, nothing more. In addition, the maintenance cost of old bikes is higher and the possibility of frequent maintenance is much higher than that of new vehicles.