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Cost of Used vs New Query

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Alexander Cameron said:
What do people feel is typical yearly 'depreciation' as a percentage when considering offers?
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It's not linear. For most bikes, probably 10 to 30% for riding it off the lot. Then probably something like 10% to 20% per year until it gets to be worth ~$3000, after that a very slow decline to ~$1000 where it will hang out forever as long as it runs.
 
Given so many bikes seem to be rarely ridden in this country/province IMO the best strategy to owning several bikes without hurting the wallet is to buy used bikes that are farily new with low KM and low wear, from trusted sellers. Provided you are patient, get a decent deal and the fact that one can pay little to no ministry fees (wink wink), you can actually own several bikes and pay close to nothing net on them.
Its foolish to go out and spend $10K on a new bike that you cant sell for more than $7K.
The smart thing is to find that same bike for $7K with sub 1500km or whatever on it. Its a buyers market, especially with ever increasing insurance rates and declining number of riders.
 
Just looking at Kijiji, there are several low km R3s for sale, even a few close to $3K. At that price point one could ride it for a year or two and flip it for what they paid for it. All said and done the 2019 (which is almost the same bike) is well over $7K all in. It makes no sense to buy a '19
 
Sure but you can also find the 2018 models (apples to apples) for under $6k new out the door.

Those used $3000-$3500 R3's look good in the ads until you dig deeper. Then you realize most of them have 12,000 - 15,000+kms on the clock and the owners advertising that the oil has been changed regularly as if that's a selling point. Great until you get it home and realize you have the stock tires at the end of their life, brakes need servicing, expensive services not complete (Fi Synchronization, head bearing, everything called for at the 10k-km service). Not the end of the world if you like projects/wrenching, but if you have to bring it to a mechanic that's going to add up quick.

Then you have all the unknowns. What condition is the motor in? was the previous owner doing clutch ups, banging it off the redline, and lugging the motor around? I took a look at a few used R3's when I was buying mine and it was enough to convince me to just pay the $1500-$2000 premium to get a new one, know its mechanically sound, and have a manufacturer warranty. Riding season is too short to be screwing around fixing someone else's problems.
 
Another bonus with purchasing a used bike is that there is no book value for motorcycles. Now, I'm not saying that you should tell the MTO you purchased the bike for $50....but if you buy a used bike for $6k, alot of people will say it cost them $1500-$2000 and save some money.
I don't feel bad doing this as the practice of paying tax on something that the tax has already been paid on is complete horse schit.
A used bike will also have the 1000km service done and may have some of the staple goodies such as a tail tidy, slip on exhaust etc.
Just keep an eye out, prices seem to significantly drop in late sept-early oct, and even more so on the off season.
Good luck!
 
r3r3r3 said:
Sure but you can also find the 2018 models (apples to apples) for under $6k new out the door.

Those used $3000-$3500 R3's look good in the ads until you dig deeper. Then you realize most of them have 12,000 - 15,000+kms on the clock and the owners advertising that the oil has been changed regularly as if that's a selling point. Great until you get it home and realize you have the stock tires at the end of their life, brakes need servicing, expensive services not complete (Fi Synchronization, head bearing, everything called for at the 10k-km service). Not the end of the world if you like projects/wrenching, but if you have to bring it to a mechanic that's going to add up quick.

Then you have all the unknowns. What condition is the motor in? was the previous owner doing clutch ups, banging it off the redline, and lugging the motor around? I took a look at a few used R3's when I was buying mine and it was enough to convince me to just pay the $1500-$2000 premium to get a new one, know its mechanically sound, and have a manufacturer warranty. Riding season is too short to be screwing around fixing someone else's problems.
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I look on kijiji all the time. Ive seen several R3s the past 2 months all in the $3K to $3.8K range, all with sub 2000km, half with sub 1000km, a couple with sub 500km. All of them looked mint, most with the factory stickers everywhere still.
I bought one.
Ive seen several FZ07s that are the same, sub 2000KM, in the $5-6K range. If you are patient you can find great deals, its a buyers market.

I missed out on 2 '18 Ninja 400s earlier in June.
Both were purchased end of last season, both had ~450km on them. Asking prices for both were $4500! and $5000. They didnt last long.

These deals tend to be outside the GTA though, but well worth it imo.
 
Not a single used MT09 right now :(
Ok, there is 1, but it's over priced and not the color I want. I should have picked up the one I was looking at for $7500 but was out of country at the time. Hopefully September will bring out some more deals, as it stands now, I spoke to a dealer who can have it delivered to me in a crate for $9700 vs used ones on Kijiji where they are asking around $9000.
 
Sebi said:
Not a single used MT09 right now :(
Ok, there is 1, but it's over priced and not the color I want. I should have picked up the one I was looking at for $7500 but was out of country at the time. Hopefully September will bring out some more deals, as it stands now, I spoke to a dealer who can have it delivered to me in a crate for $9700 vs used ones on Kijiji where they are asking around $9000.
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They hold their value really well!
 
depreciation is not the same for each year

after original purchaser takes delivery
then warranty has started and subsidized financing is gone
add to that the uncertainty of maintenance
and the bike takes a big value hit after just 2 years
30% is not uncommon for even very low usage

after about 5 years the depreciation is not quite so severe

after 10 years assuming usage is not too high
no accidents and good maintenance practices
value stays steady for quite some time

of course there are exceptions
like duds that no one ever wanted
or something that made a particular bike attractive
or a glut in the used market
try to sell a used mid sized Jap cruiser
price it for a fire sale, or be prepared to take years to get rid of it
 
arogal said:
Another bonus with purchasing a used bike is that there is no book value for motorcycles. Now, I'm not saying that you should tell the MTO you purchased the bike for $50....but if you buy a used bike for $6k, alot of people will say it cost them $1500-$2000 and save some money.
I don't feel bad doing this as the practice of paying tax on something that the tax has already been paid on is complete horse schit.
A used bike will also have the 1000km service done and may have some of the staple goodies such as a tail tidy, slip on exhaust etc.
Just keep an eye out, prices seem to significantly drop in late sept-early oct, and even more so on the off season.
Good luck!
Click to expand...

Thanks for this! Very appreciated.
 
K20EF8 said:
I look on kijiji all the time. Ive seen several R3s the past 2 months all in the $3K to $3.8K range, all with sub 2000km, half with sub 1000km, a couple with sub 500km. All of them looked mint, most with the factory stickers everywhere still.
I bought one.
Ive seen several FZ07s that are the same, sub 2000KM, in the $5-6K range. If you are patient you can find great deals, its a buyers market.

I missed out on 2 '18 Ninja 400s earlier in June.
Both were purchased end of last season, both had ~450km on them. Asking prices for both were $4500! and $5000. They didnt last long.

These deals tend to be outside the GTA though, but well worth it imo.
Click to expand...
True story just bought the gf a 2015 R3 with 2200 km on it for 3500. He even delivered it to my house

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