Are you dreaming of owning a used superbike but want to get it at a lower price than what the seller is quoting? Negotiating a better deal on second hand bikes is more manageable than it may seem. Following a few simple steps can increase your chances of securing a great price. In this blog post, we will provide valuable tips on negotiating the best price on a used bike.
1. Be Ready to Walk Away
When it comes to negotiation for second hand bikes, it is crucial not to appear desperate. Remember, other opportunities exist to find the bike of your dreams. Don’t rush into buying a bike just to show off to your friends. Instead, be patient and willing to walk away if the deal doesn’t meet your expectations. It’s better to wait for the right bike than to end with a disappointing purchase.
2. Do Your Homework About Finances
Before entering into negotiations, knowing exactly how much money you have available or can raise is essential. By buying a bike outside your price range, save your time and the seller’s time.
You can explore loan options without finalizing a specific bike if you need to take out a loan. Familiarize yourself with getting a loan for a used superbike to ensure you are prepared.
3. Know What You Are Buying
Have you already identified a bike that suits your needs? It’s essential to be confident in your choice and ensure it aligns with your purpose. If you need assistance selecting a model most suitable for you, consider researching guides on which bike to buy.
Take the time to read up on the bike you are interested in, as numerous online forums are dedicated to specific models. These forums can provide valuable information on known faults and weaknesses of the bike. You can proceed to the next step if you are comfortable with any identified issues.
4. Points to Keep in Mind While Buying a Used Superbike
If a deal seems too good to be true, it probably is. Sellers only sell motorcycles below their market value if there are exceptional circumstances. To avoid falling into a trap, thoroughly inspect every aspect of the motorcycle, especially when faced with a “once-in-a-lifetime opportunity.”
Steer clear of illegal or grey market motorcycles that cannot be registered or insured. Owning such a bike can lead to legal complications and financial liabilities. Additionally, be cautious of bikes claimed to be DRI cleared or tax paid, as these claims may need to be revised. It’s crucial to purchase a legal bike, properly registered and can be insured.
5. When to Call and Where to Meet
Consider the location and timing when contacting the seller. Respect the seller’s personal life and call during working hours. Sending an initial SMS before calling is also a good practice. Always arrange to meet the seller at their business or home instead of meeting on the road for convenience. Insist on inspecting the bike in daylight, allowing for better visibility of potential issues.
6. Things to Watch Out For
Specific aspects exist to observe depending on whether the seller is a dealer or the owner. If the seller is a dealer, evaluate the location and maintenance of their shop, as well as the condition of other bikes in their inventory. A well-maintained shop with good-quality stock is more likely to provide reliable motorcycles.
When dealing with an owner, take note of their residence, other vehicles they own, and how well-maintained those vehicles appear. The owner’s overall level of vehicle maintenance can indicate how they cared for the bike you are interested in.
8. Look for Extras
Evaluate any additional accessories or modifications on the bike and determine if they add significant value. Negotiate with the seller to include stock, accessories, or spare parts. This can save you money and ensure you have the necessary spares when needed.
9. Actual Negotiation
Approach negotiation with respect and avoid making insulting offers. Begin by acknowledging the seller’s asking price and then politely state your opinion on what you believe the bike is worth. Aim to negotiate in good faith, utilizing a straightforward approach to save time and streamline the process.
Conclusion
Negotiating the best price when you buy second hand bike requires careful preparation, knowledge, and a strategic approach. By following the tips and steps outlined in this guide, you can increase your chances of securing a great deal on the superbike of your dreams.
Remember, patience is vital, and it’s important not to rush into a purchase out of desperation. Take the time to do your homework, assess the bike’s condition, and consider its market value before entering negotiations.