There are many things to consider when purchasing a motorcycle. Your first thought may be that you want the coolest, fastest, best looking bike that there is. But, finances and many other things could possibly stand in your way.
Step 1: Dealer or Private Seller?
The first step in buying a motorcycle is to decide whether you wish to purchase through a dealer or private party. When you buy from a dealer, you are given the option to finance through them. Just be careful of your interest rate! Dealers will also charge you with taxes at the time of purchase. When you purchase from a private seller, you will most likely have to pay for the bike in full. You and the seller will be responsible for going to a notary for a registration, license plate and title. You will pay the taxes to the notary in this instance.
Step 2: Pick a Motorcycle
Step number two in buying a motorcycle is to pick out when one you want. When you are shopping around, pick one that you like, that you can afford, and that is within your skill set. For first time buyers, be reasonable. You do not need to start out with a +1000 cc motorcycle. Most beginners need to start with a 500-600 cc bike. If you are learning to ride, a 125 cc bike or a 50 cc moped is more legitimate.
Step 3: How to Pay
Step number three is figuring out how you are going to pay for your new motorcycle. There are several options including a bank loan, cash payment, or finance through a dealership.
First Time Buyer’s Tips
First time purchasers are discouraged from buying a brand new motorcycle. With any new vehicle, the value drops as soon as you drive it off of the lot. Also, chances are, you are a beginner rider and it will fall over whether standing still or with you on it. Some pros to buying new, however, are that you know the bike has not been abused. Also, as high as gas prices are right now, most private sellers are selling their used bikes for the same price as a brand new one. If you do decide to buy a used bike, stay away from non brand names. Rare bikes, although a diamond in the ruff, is very difficult to find parts for if they break down. Common bikes have better resale value and cheaper and easier to find replacement parts. If the seller describes the bike as “custom”, the bike could have any level of upgrades or modifications from a new windshield to a custom paint job.
Additional Resources:
- How to Buy a Motorcycle?
- How to Buy a Used Motorcycle?
- How to Transport a Motorcycle?
- How To Ship A Motorcycle?
- Motorcycle Trailer
