The market involving the sale of used vehicles captured a huge market segment as many people have inclined towards buying pre-owned automobiles. Therefore, pre-owned motorcycles catch the attention of the buyers more than the brand new models in the showrooms. Therefore, while buying a second-hand bike, a used bike valuation must be done. Demand of second hand bikes increased since 2020 this is the reason that used bikes sales is went up by 27 percent during Covid-19.
Used motorcycles have a lot of merits and buying a pre-owned bike that is well maintained proves to be a deal good enough. Many sites on the internet provide an approximate cost of the used vehicle. Craze of second hand bikes is increasing
Advantages of Buying a Second Hand Bike
The price of a pre-owned bike is much less than the one being sold through a showroom. In many cases, the price margin reaches fifty percent; that is, the person pays half of the price while buying a second-hand bike.
The most exciting thing is that after a year of purchase, the value of vehicles falls significantly. Therefore, buying a second-hand bike left after being used for 1-3 years provides the same features as the recent model but VC at a meagre price.
To know the estimate value of a particular bike, using a bike valuation tool would highlight all the necessary points.
- Insurance Premium
Although the appearance and the features of the bike may remain the same or have some little differences, the vehicle’s age plays a great role in decreasing its value. The buyer doesn’t have to spend much money on the bike’s insurance due to the age factor.
Also, no extra expenses come over the second owner, for instance, registration fees, RTO charges, and road taxes. The initial owner has already completed all these documents. Therefore, the buyer would only be paying a certain amount that would be decided after the valuation of the motorcycle.
- Getting all the papers readymade
The second owner does not have to run to prepare all the legal documents of the vehicle or have to bear the cost of the document preparation. The vehicle’s first owner has already prepared all the documents.
The documents only get transferred as the bike’s authority shifts to a new owner.
The legal documents of the bike include:
- Registration Certificate book (RC book)
- Valid insurances
- A tax certificate
- A PUC certificate
- Full-service history
- Manual model of the bike
- Negotiation can be done
While the buyer can freely negotiate when purchasing a second-hand bike, the same cannot happen if one buys a brand new model from the showroom.
Any expenses done by the second buyer on the repair got deducted from the final price of the bike. The same is not possible if the vehicle is bought from the showroom.
A bike price calculator is used to simplify this task and check your approximate price.
- A better depreciation value
The second buyer has an advantage over the initial owner as a used bike has a lower depreciation rate than a newly bought motorcycle. A new bike is worth half its price in the initial five years of purchase; the first owners would be getting a much lower price.
After the motorcycle’s value gets depreciated by half, its price remains almost the same for quite a long time. The second owner can easily sell the bike for almost the same price as earlier.
- Suitable for beginners
A used vehicle is the best option for people new to riding a bike. The novices tend to make many mistakes while learning to ride, which may damage the vehicle. Therefore, learning about a used vehicle would be more economical to use.
Also, used bikes would easily provide an idea about the basic mechanism of the bike. After getting to know that, the beginners can set out to buy a new bike and then ride it according to the experiences they had during the learning.
Many sites on the internet are present that offer to provide the resale value of a bike. The effort is required to find an authentic website and provide genuine information about the motorcycle. Among the list of such websites that provide the most estimate information about the resale price of a bike, OBV is also present. Before purchasing a pre-owned bike, check used bike price on OBV app.
The debate of buying a new vs used bike can never reach a point as individual preferences influence these decisions. The only thing to remember is to buy a used vehicle from an authentic dealer so that the customer can be at ease about the vehicle’s history and other parameters.