If you are looking forward to purchasing a used two-wheeler you’ve laid your eyes on, it makes perfect sense to do a bit of homework before making this significant purchase. Consider these ten suggestions we have collated, to assist you in making a well-informed decision.
1. The Bike That Best Suits Your Lifestyle
If you are eyeing those long rides, even cross-country, you may require one of those touring models with features such as cruise control to make your trip a little easier and comfortable. A sports bike, however, might be more suited for shorter journeys. You should clearly assess your riding requirements before choosing the type of bike for purchasing. Also, consider the below points:
Pay a visit to dealerships and the websites of various two-wheeler manufacturers to explore what’s out there. As auto industry is fast advancing, research done today may be outdated tomorrow. Therefore, it’s smart to get information about models and their features directly from the manufacturer’s websites to assist you in narrowing down your options.
Read other riders’ comments, remarks, and reviews by visiting two-wheeler forums and blogs like Team-BHP. While your opinions might differ; you may find some of the posts significant while weighing various options. You will also get to review the comments and assessments about dealerships’ reputation. Besides, as the active readership of such blogs is on the higher side, you may expect quick responses to any query you may post.
Speak to your biker buddies to seek their opinions. You will notice that the word-of-mouth information is priceless in your decision-making process. After all, nothing beats the practical knowledge and experiences.
2. Analyze The Market Value
In addition to sources such as www.droom.in or www.bikewalecom that provide current market pricing and value, you might want to check what’s the existing re-sale price for similar models in your own neighborhood or city. Keep an eye on local classifieds or visit online used two-wheeler sales and pricing sites like Quikr and OLX. These websites offer thousands of search results across the nation that can be sorted and customized for a reliable estimate.
3. Availability And Validity Of Two-wheeler Insurance
Two-wheeler insurance can differ based on many factors, including the make or model of the bike you are buying. While the lawfully mandated third-party liability insurance will cover your back only in case of any third-party damage/loss or injury caused due to your two-wheeler, purchasing a comprehensive two-wheeler insurance policy makes perfect sense. It not only covers any third-party damages but also provides complete protection to your own bike. Make sure to consult your insurance agent to review your options and the associated costs before purchasing the used two-wheeler. Online brokers like www.coverfox.com offer a free platform to compare two-wheeler insurance policies to assess the various benefits on offer at a competitive premium. Buying two-wheeler insurance online is always a recommended path considering the perks it offers.
4. Determine Where to Buy
You should assess the pros and cons of buying a pre-owned two-wheeler from a private party or a licensed or independent dealership. For example:
A franchised or independent dealer may ask for your old bike in trade, allow you a test ride and have a well-equipped service unit. Some franchised dealers may also provide “certified pre-owned” two-wheelers that come with a detailed service history and warranty or a guarantee.
A dealership generally offers more choices and more security than buying from a private party. If you settle on a trade-in, it will save you hassles of finding a buyer for your current bike saving significant time.
Purchasing from a private party may offer you the desirable price for the two-wheeler you are buying, but it may not provide you the same perks as buying from a licensed dealer. If you can manage to find a “single owner” bike with service records, this may be a superb choice because you’ll typically have the maximum information about the bike’s history.
5. Professional Scrutiny Of The Bike
The purpose is to know what you are buying and how much more money you’ll have to shell to make those wheels roadworthy. It’s crucial that you carefully inspect the two-wheeler because one missed detail could require spending more money than you budgeted for. Therefore, seeking professional help or a seasoned mechanic will assist in a long run, even if you have to shell some bucks towards their service.
6. Test Ride - No Compromises
This is your only chance to ensure that you are not buying a bike beyond your expertise or skills. For example, a novice rider should not experiment with a high-performance two-wheeler. Test riding will also give you an opportunity to make sure that the bike compliments your needs. You certainly don’t want to ride a two-wheeler that’s either too tall or not tall enough for you. This mismatch could make it tougher for you to maneuver and control it.
7. Request a Service History
A well-cared-for two-wheeler may come with a record of maintenance. By evaluating these records, you can learn how well the bike is maintained and if there were any mechanical concerns you should be aware of before finalizing your purchase decision. Also, ask for the owner’s manual and factory tool kit, if available.
8. Verify the Title & Registration Certificate to avoid Fraud
As auto thefts are on the alarming rise, consider checking all the relevant documents before you take a final call.
Get a copy of the Registration Certificate (RC) of the bike before you commit to purchase it. Never buy used two-wheeler without a valid RC, as you will not be able to register it lawfully, or sell or trade it tomorrow.
If you purchase the bike from a dealership, they will help you with the appropriate paperwork. If you choose to buy it from a private party, ensure to get the original documents and registration that proves the bike is titled in the seller’s name.
Do not finalize the transaction (pay for the bike) without making sure you will get the proper paperwork to change the title and register it in your own name after the purchase. You can’t lawfully ride the motorcycle without doing so.
Similarly, if the bike has an existing two-wheeler insurance, as a new owner, it's your obligation to get the same transferred in your name within specified period from the date of transfer of RC. If you fail to do so and if you require raising a claim, the same will not be honored. For a favorable claim, the title on the RC of the two-wheeler and the insurance documents has to match. Also, please understand that the current owner can carry his existing No Claim Bonus (NCB) with him. He can use it to seek the premium discount if he purchases a new bike in future. Likewise, as a new owner, you will have to earn this bonus with each claim-free year. You can win a maximum of 50% discount on your own-damage premium with NCB.
9. Make an Offer And Negotiate
Now that you’ve discovered the pre-owned two-wheeler you want to buy and have researched well on its history and condition, it is time to make an offer. There are three prices you may want to consider at this point:
The seller's asking price: What price does the seller want for the two-wheeler? Remember tip No. 2 above about investigating the value of the used bike.
The highest price you can offer: Decide in advance the final amount you are ready to spend to ride this bike basis the homework you have done - from condition and repair expenses to the cost of your two-wheeler insurance. If the bike comes with a warranty, count that in too. You certainly don’t wish to experience a buyer’s remorse by overpaying.
The Price You Offer: Your offer price should be lower than your target rate to give you scope to negotiate, but not so cheap as to annoy the seller.
10. Follow Law For Hassle-free Riding Experience
The thrill of owning a bike of your dreams could be just too overwhelming. After all, considering the amount of research and the money you've invested in choosing the right mean-machine is entirely worth the excitement it brings in. However, as a responsible rider, it's your duty and obligation to be safe and sound on the open road. Never compromise on the traffic rules and laws. Even a small oversight can lead to bigger accidents that may result in severe injuries or even death. Ride carefully to ensure your own well-being and those around you.
We believe that the above indicators will give a deeper insight to your entire pre-owned two-wheeler buying experience. If you have any other point that has influenced your decision-making process significantly, we would love to know. Please share your experiences below in the comments section for the benefit of others.