There are many considerations to take into account, whether you are buying on-road, off-road, scooter or cruiser. Here are some tips to get you started:
- Think ahead
- Check the bike
- The Big Buy
- PRE-APPROVAL: Arrange finance before you start looking at bikes. Knowing you have been approved and that the money is on standby will give you the confidence to negotiate a better deal from the vendor.
- BUDGETS: When you are doing your budget don’t forget those often overlooked expenses of running a bike: registration, comprehensive insurance, servicing and tyres.
- SHOP AROUND: There are many large bike dealers to visit in person, or if you prefer to do your research online you will find tradingpost.com.au, drive.com.au, bikesales.com.au to be some of the best online search sites for bikes. You will also find dealers advertising in the newspapers. If you are after something a bit rarer, you can always look interstate and enjoy a long distance ride home.
- BUYING SECOND HAND: Buying second hand can be a great option if you are price conscious. When you buy from a dealer (depending on the bike) you may qualify for a 3 month statutory warranty and the option to have a full warranty providing you with peace of mind.
Check The Bike
- TEST RIDE: Most dealers will be happy for you to test ride around the block. Be sure to ride on a variety of roads to get a real feel for the bike.
- INSPECTION: Try to inspect the bike during clear daylight hours as this allows you to see the bike clearly. When inspecting the bike, check the ground for oil and other leaks. It may not be a problem now but could cost you dearly in the future. Alternatively you might consider requesting an independent mechanical inspection.
- SPECIFICATION: Check that you are getting the very latest specification especially if you are paying full sticker price. It may be possible for a dealer to sell off last year’s model, which may not look any different but resale price will be affected. Alternatively, similar to buying second hand, you can purposely buy last year’s model to save around 20%.
The Big Buy
- DEPOSITS: Most bikes are sold very quickly once advertised, so if you’ve found one you like you should leave a deposit – $50-$100 is often all that’s necessary
- CONTRACTS: When you sign the contract always sign with the condition that sale is “subject to finance and satisfactory mechanical inspection.”
- BIKE VALUE: In the emotion of updating your bike, you may convince yourself to pay more than you should! Ask Best Loans to check that the bike you’re about to purchase is appropriately priced.
- NEGOTIATE: Don’t settle for the first bike you see, and always ask for a discount on the sticker price. Use the internet to email dealers your requirements and see if they will come down in price before driving to the yard.
- INSURANCE: If you’re financing your bike, be sure to ask Best loans Australia about including insurance in your contract. Not only will you be covered from the time you ride your bike away, but it will most likely save you time and money. Comprehensive insurance is mandatory for a bike that is under finance. Some insurance companies do charge you extra to pay by the month instead of annually.
- ACCESSORIES FOR YOU AND YOUR BIKE: We can even finance the accessories for you such as jackets, gloves and helmets and assist with modifications to the bike such as exhaust pipes.
Buying a bike isn’t always easy but that’s what we are all about at Best Loans. Is there any way we can help you buy your dream bike? We’d love to help! Apply online now or call 1300-002-190.