Once you finally do find yourself in the privileged position to buy a vehicle that isn’t necessarily your daily driver, you have to face the eternal dilemma – motorcycle, or car. Then once you come to your senses and choose a motorcycle, then you need to decide if it should be new, or used.
For most people this is a pretty straightforward choice, budget constraints or bad credit will limit you to paying cash for a used bike. For the sake of this list, we are going to assume the buyer is in a position to buy either a new motorcycle or a late model motorcycle of similar value, not necessarily a project. We love projects, but that is another story entirely.
Depreciation
One of the most depressing parts of buying new is knowing that you instantly lose around 20% of the vehicle's value. It is just part of life, once a motorcycle gets classified as “used”, the price changes. Some exotics lose more than just 20%, less desirable – or less popular – motorcycles will lose up to 50% of their sticker price as soon as they leave the showroom floor.
It might seem crazy to buy any bike that would lose this much value, but these are usually bespoke offerings tailored to the customer. Still, this is a very good reason to wait for the used market to wake up and pick up the bike you want for at least 20% less than the new price. There are naturally exceptions to this rule though, with some bikes actually becoming so popular that they sell for more than their sticker price.
Waiting Lists
Currently, the best example of a waiting list for a new motorcycle is the Yamaha Tenere 700. It is one of those rare cases where demand has actually consistently outstriped production. This is admittedly a rare case, and any argument for buying a used Tenere also doesn’t hold much water because it is one of the very few bikes that can sell for more used than new.
Although this is a unique example, there are still several new motorcycles that will require you to join a waiting list and this is never ideal. With so many great options on the used market, you might find compromising a little will actually offer more value in the long run.
Free Options
Getting a bike optioned out to your preference is a big drawcard, and arguably one of the best parts of getting a new bike. Choosing your preference of color, accessories, and luggage is all part of the experience.
But, the price might go up a little more than you expect. Getting a used bike with a few tasteful mods that you would most likely have added anyway, will save you a lot of money. There will always be a few things you want to change, but getting a bike with an aftermarket exhaust you like already fitted for less than the new version is a great deal in anyone's language.
Vehicles Are Bad Debt
Any respectable financial advisor will tell you that any vehicle is a liability. With the exception of a few garaged collectible classics, all bikes lose value over time. This basically translates to – the more you spend, the more you stand to lose.
Getting a new bike that you need to pay off over several years will add up to a certain amount of interest, which will mean when the time comes to either sell or trade in that vehicle you will lose thousands of dollars. No matter how well you look after the vehicle, you will already be on the back foot thanks to a combination of depreciation and that interest. With a used bike, you don’t necessarily need to worry about the interest – if you pay cash – and over time you will lose less because you paid less in the first place.
After Sales Service
While you could say “go to another dealer” or fight the “right-to-repair” fight and do the maintenance yourself. Neither of these options are really options at all, because no matter which way you look at it, these actions will void the warranty. Once you use a different garage or do the maintenance work yourself, it exposes you to that, so if you want to retain the warranty, which is part of the reason you would be buying new in the first place, you need to deal with the almost-always terrible service at whatever dealer you choose. With a used bike, you can get the work done at a shop of your choosing, or learn how to do basic motorcycle maintenance without fear.
The More Sustainable Choice
The automotive industry is responsible for a pretty big chunk of global emissions, not only from tailpipes like most EV fans will have you believe, but during production. Making anything on a large scale requires a lot of energy and resources, and there are few things in this world as resource and energy intensive as manufacturing a vehicle. Supporting this unsustainable model in any way is counter intuitive.
By buying used you do your part in slowing demand, which, in turn, results in lower production, and less overall emissions. Simply buying a used bike does more for the environment than buying a new electric motorcycle, at least until they figure out how to make batteries that don’t rely so heavily on non-renewable resources.