The Secrets to Getting a Used Bike Cheap!

I’m currently in the process of buying a house and while stressful, I’ve noticed that there are a lot of good deals on the market, and not just in housing. If you can be patient, you just might end up with more than you had originally though you could afford!

I’m finding that buying and selling is a crazy art. While sellers want their money’s worth, the cost of holding out eventually starts to outweigh the cost of owning and advertising it. As buyers, we need to try to guess just when the seller has reached their breaking point and will give you the great deal you’ve been dreaming about.

Buying your first motorcycle used is definitely a great idea. You can end up with a great bike at a price way below market rates.

First decide just how much you want to spend. Remember that typically you will be able to negotiate on prices, so if you want to spend $3000, you can really look at bikes in the $3500 range. You may even be able to get the bike for less than $3000 depending on how good your negotiating skills are. Also good to keep in mind are other costs, including gear, insurance, and gas. So just because you have $3000 in your pocket to spend doesn’t mean you should unless you can afford the daily costs.

The greatest part of looking for a motorcycle now (or house in my situation) is that the current market is terrible for sellers. Many things are taking months to sell, whereas just last year that same item would have sold in less than 2 hours. Also, today many more people are anxious to sell luxury items and get rid of hobbies they just can’t afford. I suggest rather than jumping on the first thing you like, waiting it out. Review your options and watch the ads. More than likely, if the bike hasn’t sold in the first week, the seller will drop the price the second week, especially if they are desperate to sell.

Depending on where the seller is advertising, the cost of running the ad can get costly. For instance, if you are looking in the local paper under classified, the seller may have paid $30 - $50 for that ad. Advertising online can be free, but sometimes sellers will incur a minimal cost even there. Sellers don’t want to keep losing money on something they’re trying to get rid of in the first place. Trust me, if the seller has made the decision to get rid of the bike, they really don’t want to have to pay for it or have it take up space any longer than they have to.

Once you’ve searched and waited, and found the deal, its time to make a move. Call and set up an appointment, see the bike, and make sure you really can’t live without it. If you’re unsure, don’t make a deal. New bikes are popping up on the market everyday!

When you’re ready to make a deal remember its ok to try to negotiate the price, but don’t insult the seller. While they may be ready to get rid of the bike, they also aren’t going to give away their possessions for free. If you’ve done your research you should have a pretty good idea of what the bike is worth and what others on the market are going for. It’s never good to go in and just pay full price without trying to negotiate, especially if you really can’t afford it.

Offering cash on the spot is a great incentive for sellers. Obviously they want their money, so the quicker they can get it the happier they are, and the more willing they are to give you what you want.

- Julie