Buying a motorcycle is a pretty exciting life decision. But before you start shopping around, you'll need to decide whether you want a used or new bike. There are pros and cons to both options, so it really depends on what you're looking for in a motorcycle. Today we're breaking down the pros and cons of each to help you decide what's right for you.
Pros of buying a new motorbike
If you're looking for a bike that is low-maintenance and reliable, then buying a new one may be the best option for you. A new motorcycle will come with a warranty, which can offer peace of mind in case something goes wrong. Additionally, new motorcycles tend to be higher-quality, which means they'll last longer and be more enjoyable to ride.
Cons of buying a new motorcycle
However, new bikes can be quite expensive, so if you're on a tight budget it may not be the best option for you. You'll also need to consider the cost of insurance, taxes, registration fees, and any initial repairs or maintenance that may be needed. If you're taking out a loan, you'll also need to factor in that your loan repayments will be higher if your bike has a high purchase price.
Pros of buying a used motorbike
If you're looking for more affordable options, a pre-owned motorcycle can be a great choice. Used bikes are typically cheaper than new ones and can offer plenty of great features at a fraction of the cost. Additionally, buying used means that you'll experience slower depreciation, so you'll save money upfront and in the long run. Many used bikes also come with warranties, so you can be confident that you're getting a good deal.
Cons of buying a used motorbike
However, there are some risks with buying used. You may have to spend money on repairs or maintenance right away, and the bike may end up not lasting as long as you'd like. Additionally, there's no guarantee that the previous owner took good care of the bike, so it may not be as reliable or safe as a new one. You'll have to make sure you do your research to find a reliable dealer or seller - so you can minimise the risk of buying a dud.
Ultimately, whether you should buy a used or new motorcycle depends on your individual needs and budget. If you're looking for fewer upfront costs and more reliability, then buying a new bike might be right for you. However, if affordability is your top priority, then a used bike may be the best option. No matter which you choose, make sure to do your research and shop around to find the best deal for your needs. Check out Driva motorbike finance to compare all of your best finance options in one place.