Buying a bike 11 golden rules
Investing in a new bike is a serious business, whether it’s a spanking new Panigale R or a new-to-you 20 year-old commuter. You owe it to yourself and your wallet to get the best deal you can but few of us make enough of those deals to really know how to swing things in our favour. So we’ve asked a few experts in the field to share their experience. Between them they’ve bought and sold more bikes than they can remember — and they’re very, very good at it.
1 Don’t rush in
Timing is important. Martin “Dealers usually work to quarterly targets, so for example the middle of March is a good time for a deal as deadlines loom. Same goes for promotions on new bikes — you’ll get a better deal towards the end of the promotion. Generally though, I’d be looking to buy in winter when traffic through dealers is slow.”
2 Do your homework
Read up on your chosen bike. Check price guides and selling sites to get an idea of prices and if you can get access to the CAP Green Book valuations and model guides, that’s a big help. Don’t take ads at face value either. You’ll often see, for example, a 2007 Kawasaki ZZR1400 on an 08 plate, advertised as a 2008 and priced accordingly, but the 2008 model has a lot of mods under the skin, bringing more power, better power delivery and lower emissions. You don’t want to pay 2008 money for a 07 bike. You also need to know that model’s problems. Dave “I’m buying old Bandit 12s and 90% of them run badly — carburettor problems mainly. That’s not a worry, it’s an opportunity – that’s where lots of your bargains are!”
3 Look in the right place
The newer and posher it is, the more it’s worth checking national media — most big dealers will advertise with MCN — both in the paper and online. The lower the value, the more you should think locally. Neil “Ebay, big time — it’s still a good source. Gumtree too, and local papers. But something I’ve done a lot is to put up a wanted ad. You’d be amazed how many people can’t be bothered with advertising but will answer an ad. And the lovely thing is they’ve got no-one else to play you off against because they’ve come to you...”
4 Know the difference between private and dealer
Martin “Obviously I’m going to say dealer! You really do have so much more protection that way under the Consumer Rights Act, which gives you 30 days to reject it and claim a refund if it’s not fit for purpose.”
If you buy privately you have very little protection — if the bike turns out to be stolen, for example, then it still belongs to the owner it was stolen from, not you and you’ll have to try to get your money back from the seller.
5 Phone first
For private sales, it’s always worth establishing some facts over the phone. First off, just say; “I’m calling about the bike.” If they ask; “Which one?” that tells you straight away that they might be a backyard dealer. Don’t let that put you off though. Dave “If it’s obvious they’ve just bought a bike to flip it, you know they’ll probably be prepared to take a bit less than they’re asking and buy something else to flip next week.”
Neil “The killer question is; “Is there anything broken/damaged/not working?” That’s when they’ll pause and say; “Well, actually...” It can give you a haggling tool before even seeing the bike in the flesh for the first time but more importantly, it can potentially save you a wasted journey if you’re looking for something ready to go, rather than a project.”
6 Try to go local
Martin “90% of our business is local, and that’s how we like it. We want to build a relationship with the customer, so maybe if they’re passing on a Saturday, they’ll pop in for a coffee, but they’ll leave with a new pair of gloves.” That gives you an opportunity — if you can sit down and say; “Look, I‘ve found the same bike for less money elsewhere but I’d rather buy locally — can you meet me halfway...?” then that’s a strong bargaining position.
‘The clue’s in the name; we’re dealers and we love to make a deal’
7 Look the bike over properly
Neil “You’ve got to give it a very, VERY thorough looking at, from front to back. Make a list. Every little bit of damage, every consumable part that’s towards the end of its life — it all counts.”
Martin “If a bike’s been down the road, it usually picks up small scratches in places like the fork bottoms and swingarm — too pricey to replace and hard to disguise, so check there.” A heavy front-end impact will often stretch the headstock join, so check for flaking paint around welds. Look out also for suspiciously shiny bodywork and low mileages on bikes that are a bit tatty. That might be evidence of a trackday bike returned to the road.
8 Check it’s legit
Martin “Interrogate the paperwork properly. Does the service book match the mileages on the MOT record, for example. Does the mileage match the condition?”
The big question: does the seller actually own the bike...? If it’s on traditional finance, that’s not so bad but PCP is different — the legal owner is the credit company, not the keeper named on the V5c. Buying a bike that turns out to be under PCP can be a nightmare, so it’s really important to get a full HPI check, which will also reveal the bike’s MOT history and whether it’s been an insurance write-off.
9 Always haggle
Martin “Bring it on. The clue’s in the name: we’re dealers, we love a deal. Dealers have an eye on cashflow too — they’d rather make a sale than not.” Dave “I’ve got to haggle. I’ll break it to build something else and every tenner I spend on the donor is a tenner I can’t put back into the build. I’ll say; “It’s a great bike, but...” and the ‘but’ is the important bit.”
Neil “You have to be diplomatic, but firm. This is where your careful look over the bike comes in — you say it needs this and this, and that’ll cost 800 quid plus my time. He’s asking three grand so I’ll pitch at two... Sometimes you can’t find any faults, so you might say; “It’s a good bike but...” so pitch it low and be prepared to walk away. But always leave your number and say; “Call me if it doesn’t sell”. Sometimes you’ll get that call.”
10 If they won’t budge on price, be creative
Martin “A dealer’s not got much margin on the bike, but he has got a margin on accessories, servicing, warranties and parts. So you’ll have more chance of negotiating, say, £500 worth of extras than you will a £500 price cut. Because you’ll still be getting £500 worth of value but it won’t cost the dealer anything near that, it represents a win/win scenario for everyone involved. And who doesn’t love that?”
11 Remember cash is still king
For private sales, definitely. Dave “Always. I’ve got the cash in my hand and I’ve got the van ready to load it in, so he knows if he says yes, than that’s it, it’s all done. Often people have been mucked about so many times they’re happy to just do an easy deal and get it gone.”
Neil agrees: “You HAVE to have the cash to wave so you can close the deal there and then. Ideally, you’ll pull exactly the amount you’re offering out of a pocket and say; “That’s what I’ve got — look, count it”. Of course, you’ll always have some more in reserve in another pocket, as a last resort...”