by
Louis Owen
|
November 1, 2024
Whether it’s your first time on a bike or you are a seasoned veteran, you can’t go wrong with one more bike. (well… as long as you’re wife believes it really was a gift). Buying a used model is a more cost-effective way to own a bike. Used motorcycles usually come with lower insurance premiums and have already had the bulk of their depreciation. Pawn shops can offer an often-overlooked opportunity to buy used motorcycles. You can find a variety of motorcycles at competitive prices and the opportunity to negotiate the price down.
1. Cost Savings
Lower Purchase Price: Used motorcycles are generally much cheaper than new ones, making them more accessible if you're on a budget.
Less Depreciation: New motorcycles lose value quickly after purchase. With a used bike, the previous owner has already absorbed most of this depreciation.
2. Insurance Savings
Lower Insurance Costs: Insurance premiums for used motorcycles are often lower compared to new models, reducing your ongoing expenses.
3. Reliability and Proven Performance
Established Track Record: A used motorcycle’s performance history can be reviewed through maintenance records and user reviews, providing insights into its reliability and any potential issues.
Well-Maintained Models: Motorcycles that have been well taken care of can be just as reliable as new ones. Look for bikes with complete maintenance records and a clean history.
4. Wider Selection
Variety of Models: The used motorcycle market offers a broad selection of models, including those that may no longer be in production but are still highly regarded.
Unique Finds: You may find unique or rare models that are no longer available, adding a special touch to your ride.
5. Lower Registration Fees
Cost-Effective Registration: In many places, older motorcycles often come with lower registration fees compared to new models, further saving you money.
Pawn shops have a surprising variety of models ranging from old classics to recent models. You can find everything from sports bikes to classics all in one place. Pawn shops price their items to sell so you can usually find better prices than at dealerships. They are also heavily regulated businesses that must follow strict laws and guidelines like verifying ownership. This way you can be sure the bike is legally owned and has been checked for any liens or outstanding issues.
Start by researching the pawn shops that sell motorcycles, and pay attention to customer reviews and the reputation before reaching out. Additionally, ask friends or fellow riders for recommendations. (If they say something dumb like “it's dangerous” then don't listen to them)
Once you've narrowed down your list, visit the pawn shops in person to inspect the bikes for the following. Ask the shop owner for any questions you might have, ask for a carfax report to see more into the bikes history.
When inspecting the bike, make sure to check the following
Inspect the motorcycle’s engine:
Inspect the motorcycle’s engine for signs of wear, leaks, or damage
Check the tires:
Check the tires for tread depth and any visible cracks or bulges
Examine the frame:
Examine the frame for rust, dents, or any signs of previous accidents
Pay attention to the overall appearance:
Pay attention to the overall appearance of the bike, including the paint, seat, and controls, to ensure it has been well-maintained
Examine the bike cold:
Examine the bike cold, feel the tubes for any odd bulges, also start it up, and listen to how it sounds, make sure it wasn't warmed up before you got there, you would be surprised how many issues can be hidden after the bike is warmed up.
Examine the electrical:
Examine the electrical, make sure it's all from the factory, and check for electrician tape and vampire connectors
Test ride the bike:
Test ride the bike, there really shouldn't be a reason you can't test ride the bike. (unless you do not have a valid endorsement for operating a motorcycle on your license)
Knowing how long the motorcycle has been in the shop can provide context on its price and condition. A bike that has been sitting for a long time may have more room for negotiation or might indicate potential issues that have deterred previous buyers.
Ask if the pawn shop offers any warranties or guarantees on the motorcycle. Some shops may provide limited warranties on their vehicles, which can give you added peace of mind. Understand the terms and duration of any warranties before making your purchase.
Request detailed information about the motorcycle’s history, including previous owners, accident history, and any modifications or repairs. The more information you have, the better you can assess the motorcycle’s value and reliability. This transparency is crucial for making an informed buying decision.
When negotiating the price, start by doing your homework, and know the fair market value of the motorcycle before you begin. Use resources like Kelly Blue Book or NADA guides to get an estimate. Be polite but firm in your negotiations. Don't be afraid to make a reasonable counteroffer. Highlight any issues or needed repairs to lower the price. This is a conversation, not a confrontation. Understand the shop needs to move their stock so it is priced to sell, however they need to make a profit so you won't get rock bottom prices. Ask about any additional fees that could be added on. Be prepared to leave, sometimes the act alone can cause them to lower the price.
unlike private sellers, pawn shops are regulated and often provide a safer, more secure transaction. Unlike dealerships, they tend to have lower prices and more flexibility in negotiation. Additionally, the variety of motorcycles available can lead to unique finds that might be priced lower than market value due to the shop’s need to move inventory. Pawn shops must verify the ownership and legality of the items they sell, providing buyers with a level of assurance that the motorcycle isn’t stolen or has any liens. This regulatory oversight can give buyers peace of mind that isn’t always available when buying from a private party.
Ask about the pawn shop’s return or exchange policies. Some shops may offer a short return window or an exchange policy in case you encounter issues with the motorcycle after purchase. Make sure all necessary paperwork and documentation are in order before finalizing the purchase. This includes the title, bill of sale, and any warranty or guarantee documents. Double-check that the VIN on the motorcycle matches the one on the title. Conduct a final inspection of the motorcycle before completing the transaction.
Buying a used motorcycle from a pawn shop can be a smart and rewarding choice. You’ll find a variety of models at competitive prices, with the added security of regulated transactions. The opportunity for negotiation and the potential for unique finds make pawn shops an excellent option for savvy buyers. Next time you’re looking for where to buy used motorcycles, don’t overlook your local pawn shops. With careful research and a bit of negotiation, you might find the perfect bike at a price that fits your budget.
DISCLAIMER, MAKE SURE YOU FOLLOW ALL LAWS AND SAFETY PRECAUTIONS WHEN RIDING. BE SURE TO WEAR ALL SAFETY GEAR. A JOY RIDE IS NOT WORTH YOUR LIFE.
