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Are Used Bikes Worth It?

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DJP
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PostPosted: 17:47 - 13 Apr 2022    Post subject: Are Used Bikes Worth It? Reply with quote

Since 1997 I've had 5 brand new bikes, I've kept each one anywhere between 3 and 7 years and then traded them in against a new bike

I told this to someone at work yesterday and he remarked that I “must have spent a fortune”.

So I decided to work it out. After trading in, I have spent (lost) the grand total of £13,600 over 25 years. That's £544 in depreciation per year. To ride a new bike.

That's cheap in my book. Bearing in mind that I've never had to spend more than servicing (mostly DIY) and consumables. And for over half of that period I've been riding bikes that are still in warranty and don't need an MOT.

Bargainacious!

So are used bikes really worth it? (And for balance I am currently riding a used bike now btw).
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Pete.
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PostPosted: 18:02 - 13 Apr 2022    Post subject: Reply with quote

My current bike was £2400 I've had it nearly 7 years and 71k miles and it's still worth up to 2 grand.
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DJP
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PostPosted: 18:37 - 13 Apr 2022    Post subject: Reply with quote

That's not bad, as long as you haven't spent a shedload on unscheduled "Maintenance".

Previously I've always bought used bikes and, as I look after them, seldom lost anything on them.

But used bikes need more upkeep: Steering bearings, fork seals/bushes, suspension and electrical bits and pieces etc. that you just don't need on a newer machine.

So it's a balance between depreciation and maintenance and as I get older I find the former easier than the latter.

YMMV! Smile
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pepperami
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PostPosted: 19:12 - 13 Apr 2022    Post subject: Reply with quote

I’ve bought two bikes new and lost money on both.
However, I don’t regret either bike.

One I sold cheap because I wanted money for the next bike (Yamaha RD 250 lc).
The other I still own, as in my little opinion, she’s a keeper.

I would never expect to come off well selling a bike I’ve had since new.
Just to much depreciation.
As soon as you ride your new new bike in sh*tty British weather, it’s doomed to be just another second hand bike in a very full market place.

Most of us try to keep our bikes in tip top condition, however people just won’t pay what you think it’s worth. Sad
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blurredman
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PostPosted: 19:42 - 13 Apr 2022    Post subject: Reply with quote

One of my bikes in my collection owned since 2012, paid £751 and now tax and mot exempt. Most i've paid for a bike. Least I paid for a bike was in 2016 @ £100. Put 20k miles on it since. 2nd cheapest bike i've paid for is £105 last year, already exempt from tax.
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DJP
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PostPosted: 19:47 - 13 Apr 2022    Post subject: Reply with quote

pepperami wrote:
I’ve bought two bikes new and lost money on both.
However, I don’t regret either bike.

One I sold cheap because I wanted money for the next bike (Yamaha RD 250 lc).
The other I still own, as in my little opinion, she’s a keeper...


Then you ain't lost money on the last one since you still own it.
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DJP
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PostPosted: 19:49 - 13 Apr 2022    Post subject: Reply with quote

And I should point out that I'm talking 600cc+ no tiddlers.
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BanditsHigh
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PostPosted: 20:17 - 13 Apr 2022    Post subject: Reply with quote

blurredman wrote:
One of my bikes in my collection owned since 2012, paid £751 and now tax and mot exempt.


I take it owned since 2012 doesn't relate to it's age ... so what age is the bike?

All the best ... Barry
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spottedtango
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PostPosted: 20:27 - 13 Apr 2022    Post subject: Reply with quote

I bought my current Vfr800fi for under 900 quid and there's nothing wrong with the bike. I've given it a service and changed the rear tyre but the bikes solid. I plan on having this one a few years


Owned an NTV600 which I bought for 450 quid owned that 4 years took me pretty much everywhere and apart from a fuel pump contactor welding itself together I had a great time fannying about and camping on it. Sold it for 500/600 quid.

I do pick solid old Hondas though
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xX-Alex-Xx
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PostPosted: 20:57 - 13 Apr 2022    Post subject: Reply with quote

"Worth it" is pretty subjective....

It depends if YOU'RE getting (non-financial) value out of it. If you're buying it new, letting it rot in the garage and selling it for a massive loss later, no it's probably not worth it. If you're getting a load of miles out of it, then yes it is...
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MarJay
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PostPosted: 21:05 - 13 Apr 2022    Post subject: Reply with quote

If you crash a bike it's basically a write off. I'd hate to write off something that I was still paying for. I've always bought bikes with cash except my SV650 which I stupidly bought on finance.

I paid £3800 for my Street Triple in 2012, and it's probably still worth something approaching that now. I paid £1500 for my KR1S in about 2011, and that's worth probably 3 times that now? I paid £2500 for my CBR600, and that's worth that any day of the week.

That SV though? Well, I paid £5200 for it in 2001, I sold it 18 months later for £2800... go figure.

I don't think I've lost much on other bikes I've sold. I lost a bit on my VFR400 (first big bike) but since then I think I've either lost a few hundred quid on each or nothing at all unless the bike was damaged or something in my ownership.
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trevor saxe-coburg-gotha
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PostPosted: 21:19 - 13 Apr 2022    Post subject: Re: Are Used Bikes Worth It? Reply with quote

DJP wrote:
So are used bikes really worth it? (And for balance I am currently riding a used bike now btw).


I mull this crap over far more than is advisable. And it feels like every time I do, I change my mind.

I've never owned a new bike, and that seems less and less likely as they become more and more tech laden. I appreciate there are the Interceptors of this world, but such bikes have as little appeal for me as the diametric opposites - e.g. the latest 1250GSA with all the bells and whistles. At one end are the retro bikes with poor spec and little in the way of excitement, and at the other, huge and heavy bikes with switch gear and menu scrollers that take 6 months to learn.

But those aren't the only reasons i've been plumping for 'golden era' sporty bikes. Bangers like the zx9r are can be bought for £2k w/ 30k on the clock, and run to 100k with minimal intervention once the valves have been checked and shimmed (I suspect most haven't been, despite what old receipts may say). How is that not worth it? Genuine question.

Doesn't matter if it's an old vfr750/800, a gsx1250f, a 918 or 929 blade, etc. etc., they can all be found for under £3k, and more often than not will run and run, won't they? Good, quick, fun bikes - each with their own foible or two, but essentially well-designed and properly nailed together using decent materials. Run a bike like that for 5 years or more, even accepting the odd replacement shock or stator here and there, and I think you're still going to be coming in quite a chunk under the depreciation hit of a new bike?

You say £540 quid's worth of depreciation per year. That's really good going, to be fair. My bangernomics might not actually be able to beat that, if I'm brutally honest. However, if I could work on my own bikes, I think I could be halving that by purchasing and running 15-20 year old £3k machines.

However, and to put a different slant on it, this: I paid £1800 for a 9 with 18k on it back in autumn of '17 - it's now got 94k on it and is making untoward noises in low gears at low speeds. Idles lovely, so is clutch or gearbox? Anyway, it;s had two "new" shocks (both £50) since then, and fork oil, headstock bearings (thrice), etc. But would've needed all that even if new, with that mileage. So I still feel like I must be quite a few quid ahead of the £544 figure?
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struan80
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PostPosted: 22:36 - 13 Apr 2022    Post subject: Reply with quote

I got a bank loan and spent the cost of a new CB500 on a second hand VFR 1200 with 2200 miles.

If you are buying brand new expensive bikes you may lose out more than you say. No way I could have afforded a new VFR1200. I will one day have another Fireblade for £3k or so.

Even accounting for maintenance and warranty there is more value to be had with second hand bikes. Many of them never lose any value at all.

I have bought new bikes before, only two, and may again but I don't feel that it is better value to do so.
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Fat Angry Scotsman
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PostPosted: 09:26 - 14 Apr 2022    Post subject: Reply with quote

I've only ever owned two bikes and they are still in my ownership:

2020 Zontes ZT125-U, and,
2009 Kawasaki ER6-F.

The Zontes I bought new and the Kwak is well used. I've put almost as many miles on the bike in my one year with it than it had in the previous 10 years combined.

I expect to lose money on both on re-sale. I don't care either.
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Islander
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PostPosted: 09:36 - 14 Apr 2022    Post subject: Reply with quote

I buy bikes to ride not to resell. I've owned just one brand new bike and that was in the 1970s Laughing
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A100man
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PostPosted: 09:45 - 14 Apr 2022    Post subject: Reply with quote

Islander wrote:
I buy bikes to ride not to resell. I've owned just one brand new bike and that was in the 1970s Laughing


Younger than me eh? Eh?
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Islander
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PostPosted: 10:15 - 14 Apr 2022    Post subject: Reply with quote

A100man wrote:
Islander wrote:
I buy bikes to ride not to resell. I've owned just one brand new bike and that was in the 1970s Laughing


Younger than me eh? Eh?


Possibly... Laughing
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blurredman
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PostPosted: 11:12 - 14 Apr 2022    Post subject: Reply with quote

BanditsHigh wrote:
blurredman wrote:
One of my bikes in my collection owned since 2012, paid £751 and now tax and mot exempt.


I take it owned since 2012 doesn't relate to it's age ... so what age is the bike?

All the best ... Barry


It's 40 now. I mention 2012 as that's the bike i've owned longest.
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CBT: 12/06/10, Theory: 22/09/10, Module 1: 09/11/10, Module 2: 19/01/11
Past: 1991 Honda CG125BR-J, 1992 (1980) Honda XL125S, 1996 Kawasaki GPZ500S.
Current: 1981 Honda CX500B - 91k, 1987 MZ ETZ250 (bored to 295cc) - 38k, 1990 MZ ETZ251 - 49k, 1979 Suzuki TS185ER - 9k, 1972 MZ ES250/2 - 17k.


Last edited by blurredman on 16:03 - 14 Apr 2022; edited 1 time in total
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Bhud
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PostPosted: 13:49 - 14 Apr 2022    Post subject: Reply with quote

I couldn't bring myself to pay more than £3000 for any bike, ever.
I think it's partly because I want them all (almost).
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rpsmith79
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PostPosted: 15:18 - 14 Apr 2022    Post subject: Reply with quote

Bhud wrote:
I couldn't bring myself to pay more than £3000 for any bike, ever.
I think it's partly because I want them all (almost).


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steve the grease
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PostPosted: 17:16 - 14 Apr 2022    Post subject: Reply with quote

Surely the qustion should be "Are new bikes worth it"? It seems to me they lose a grand as soon as they go out the showroom.
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jeffyjeff
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PostPosted: 20:19 - 14 Apr 2022    Post subject: Reply with quote

steve the grease wrote:
Surely the qustion should be "Are new bikes worth it"? It seems to me they lose a grand as soon as they go out the showroom.

Depends how long you intend to keep the bike. I personally find it rewarding to flog a new bike through its break-in period.
That said, I have achieved satisfaction and success in resurrecting old garage queens and restoring them to roadworthy condition. If you have the patience to wait out fluctuations in the market, you can get a lot of motorcycle for 3 grand.
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trevor saxe-coburg-gotha
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PostPosted: 21:05 - 14 Apr 2022    Post subject: Reply with quote

steve the grease wrote:
Surely the qustion should be "Are new bikes worth it"? It seems to me they lose a grand as soon as they go out the showroom.


this
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PotatoHead202...
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PostPosted: 21:56 - 14 Apr 2022    Post subject: Reply with quote

It was always drummed into me that you don't buy anything without having the cash.

What with being made redundant and buying my first house, buying a brand new bike was out of the question and I didn't want to get involved with finance.

However, I can see myself getting something much newer in future years purely for the tech.
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trevor saxe-coburg-gotha
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PostPosted: 22:08 - 14 Apr 2022    Post subject: Reply with quote

tech schmech
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