Do bikes tend to depreciate slower than cars?
Discussion
Only ask as I have been looking for a bike for a while but am shocked/amazed at the prices being asked when quite old, as in 10 years or so.
I was looking at a 2011 T-Max the other day and it was up for £3,800, and that was one of the cheaper ones. This bike was about £8k brand new back in 2011, so that is pretty good going.
Still undecided if I wanted to retire on a twist and go or go all out on a crotch rocket, I was looking at CBR600s. I had the first one in '88 and another in the 90's so fancied the RR.
Saw a lovely one for just over £5k but it was a 2007, 10 years old.
I swear, when was looking at them new back in '07, that they were an affordable £6k or £7k OTR. Please correct me if I'm wrong.
A mate of mine just bought a 2008 Mini for £4k in great condition, it must of been over £20k when new. So at 10 years old it's worth say 20% of what it was brand new yet the bikes I'm seeing are closer to 40% at around the same age.
I thought the rough maths had cars losing about 50% within their first 3 years. Doesn't look like bikes follow the same formulae although if you look at PCP payments it does seem to be half price after 3 years.
My last bike was a scooter, a Vespa GT250, stolen in January. It was a 2009 which I bought off a friend for £1200 in 2015. Didn't realise until it was gone and I didn't bother claiming, as the excess was £900, that the bike was worth far more. Saw a much more battered version of mine with a higher mileage for £2500 in Metropolis.
I've been looking at bike prices keenly for the past month or so and I'm seeing autotrader and eBay ads in my sleep
No half price bargains at 3 years old, so maybe I should bite the bullet and go brand new.
Only problem then, is insurance, and I'm in London. Then we get into all sorts of other bother and expense.
I was looking at a 2011 T-Max the other day and it was up for £3,800, and that was one of the cheaper ones. This bike was about £8k brand new back in 2011, so that is pretty good going.
Still undecided if I wanted to retire on a twist and go or go all out on a crotch rocket, I was looking at CBR600s. I had the first one in '88 and another in the 90's so fancied the RR.
Saw a lovely one for just over £5k but it was a 2007, 10 years old.
I swear, when was looking at them new back in '07, that they were an affordable £6k or £7k OTR. Please correct me if I'm wrong.
A mate of mine just bought a 2008 Mini for £4k in great condition, it must of been over £20k when new. So at 10 years old it's worth say 20% of what it was brand new yet the bikes I'm seeing are closer to 40% at around the same age.
I thought the rough maths had cars losing about 50% within their first 3 years. Doesn't look like bikes follow the same formulae although if you look at PCP payments it does seem to be half price after 3 years.
My last bike was a scooter, a Vespa GT250, stolen in January. It was a 2009 which I bought off a friend for £1200 in 2015. Didn't realise until it was gone and I didn't bother claiming, as the excess was £900, that the bike was worth far more. Saw a much more battered version of mine with a higher mileage for £2500 in Metropolis.
I've been looking at bike prices keenly for the past month or so and I'm seeing autotrader and eBay ads in my sleep
No half price bargains at 3 years old, so maybe I should bite the bullet and go brand new.
Only problem then, is insurance, and I'm in London. Then we get into all sorts of other bother and expense.
I paid £5800 for my Street Triple in 2009. By 2015 it was back at the dealers having £400 worth of damage sorted thanks to yet another failed theft attempt.
I'd had it back a day when a car ran into it whilst it was parked and knocked it over.
It was back at the dealers as not only damaged but would not start.
Bill was £500 so I just said buy it off me, I've had enough.
They gave me £2500 which I thought fair on a 6 year old bike but they then had it in their showroom for £3800.
This has me thinking that I should buy new but then the insurance companies here in London don't like it if your bike is worth more than £6000, let alone the £15k+ for a sports bike and even the new T-Max is £11k
Funnily I can't get anyone to quote on that, even MCE.
I'd had it back a day when a car ran into it whilst it was parked and knocked it over.
It was back at the dealers as not only damaged but would not start.
Bill was £500 so I just said buy it off me, I've had enough.
They gave me £2500 which I thought fair on a 6 year old bike but they then had it in their showroom for £3800.
This has me thinking that I should buy new but then the insurance companies here in London don't like it if your bike is worth more than £6000, let alone the £15k+ for a sports bike and even the new T-Max is £11k
Funnily I can't get anyone to quote on that, even MCE.
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