Is it the first time you are buying a motorcycle? If so, you might need some help. There are many things to consider when purchasing a new motorcycle. Here are some of the things that you might want to consider when buying a motorcycle.
Your Finances
Firstly, examine your finances. Do you have the disposable income currently to pay for your new motorcycle? How much are you willing to spend? The cost of the motorcycle will depend entirely on the make, model and age of the motorcycle.
Your Budget
Once you know exactly how much money you have to spend, figure out your budget, include insurance costs and factor in maintenance costs too.
Consider a Payment Plan
If your budget is low and you would rather get a more expensive motorcycle, consider signing up for a payment plan. You would still need to make sure that you can afford the monthly repayments therefore, analyze your monthly expenditure and your earnings to figure out if you can afford monthly loan repayments.
Your Credit Score
If you plan on applying for a loan to purchase your motorcycle, check your credit score. If your score is too low, you might need to work with a registered credit repair specialist to help you restore your credit rating.
Decide on the Type of Motorcycle You Want
When you know how much you have to spend, you can go ahead and start choosing the type of motorcycle you want to purchase. What will you be using the motorcycle for? Do you plan on using it for recreation or work? The purpose of the motorcycle will determine the type of motorcycle that you purchase.
Will you be using the motorcycle for deliveries for example? If so, consider buying a Honda TMX125 Alpha(P51,400) These are great for deliveries because they are durable and easy to maintain. Another option for delivery work is the Kawasaki CT (P46,900). It comes with a four-speed manual gearbox and it is also compatible with sidecars which are great for deliveries.
Search For a Motorcycle
Now that you have decided on the type of motorcycle that you want to purchase. Search for a reputable motorcycle shop in your area. For example, if you live in Salt Lake City, you can search for a motorcycle shop in salt lake city. The motorcycle specialists can help you to decide on the best type of motorcycle for your needs.
Spend time in the motorcycle shop and ask as many questions as possible regarding the type of motorcycle that you want. Here are some of the questions you should be asking when purchasing a motorcycle.
How much power does it have?
This is a very important question, if you are quite new to the world of motorcycles opt for a motorcycle with about 250 or 300 cc.
How much is the insurance?
What’s the price and is there room for negotiation? If you have the cash to pay upfront, you should be able to get a considerable discount on your preferred bike.
What about a warranty?
If you are buying a used motorcycle, you will need to ask more questions, here are some of the questions you should be asking if you plan on buying a used motorcycle:
- How old is the bike?
- When was the last time it was serviced?
- How often do you service the bike?
- How often did you use the bike?
- Did you use it for work or recreation?
- Is the engine in good condition?
- How many times have you completely changed the tyres?
- Do you have proof of service documents?
- Do you have all the original documentation?
- Why are you selling the bike?
- How many times have you claimed on the insurance?
- What’s the engine size?
- Have you changed any parts recently?
- How many previous owners?
Do You Want to Buy a New or Used Motorcycle?
Would you prefer a brand new motorcycle or a used one? A used one will probably be less expensive than a brand new one however, you will need to consider the repair history, how many previous owners it’s had, and check if there are any existing damages. Ask the questions above to learn more about the bike.
Test Ride
Ask the dealership or the owner to take a test ride of the bike to make sure that it is in full working order.
Get a Professional Bike Mechanic to Check it
If you are buying a used motorcycle, get a professional bike mechanic to give the bike a once over before you put an offer in to purchase it. Your mechanic will conduct a thorough check of the vehicle to make sure that everything works well. If there are any issues with the bike that have not been previously mentioned, your mechanic will record all this information in a report, this will facilitate the decision-making process.
Negotiate
Once you decide that you want to purchase a specific bike, don’t just accept the ticket price. Negotiate down, most dealerships and individual owners will be happy to negotiate the price as long as you are ready to purchase. Remember to start with your lowest price and increase your offer in small increments. There is always room for negotiation when it comes to buying a vehicle, use your negotiating power to get the best possible deal.
Insurance
Remember, you can’t ride around without insurance therefore, it is vital that you sign up for insurance soon after you finalize your purchase.
Buying a motorcycle doesn’t have to be stressful or difficult, just make sure that you analyze your finances to ensure that you have enough funds to purchase a motorbike. If you plan to use a payment plan to buy your motorcycle, check your credit score and income and expenditure to make sure that you can make the repayments. Ask the questions listed in this article and enlist the services of a professional bike mechanic to check for any hidden faults. Once you are certain, remember to negotiate down to get an affordable deal on your preferred motorcycle.
