New bike vs Old bike: Bike is a better option for daily uses with increasing traffic and shrinking roads. However, when it comes to buying a bike many people confused about whether to buy a new bike or a second-hand bike. The wrong buy may provide you with long-term pain. Obviously deciding it yourself without any proper guidance can be pretty difficult. So, here is some help for you. New bike vs old bike will help you to which one you should buy.
Pros of New Bike
- Performance: A new bike always ensures better performance. Buying a new bike means you can expect better outcomes and effectively plan.
- Latest Technology & Features: You can get the best technology & features as per your requirement. A used bike definitely outdated in terms of technology and performance.
- Warranty: A new bike will get you a warranty cover for any malfunction after failures for up to a certain duration. Also, free-of-cost workshop service provides you ensure your bike remains in a sound condition.
- Vehicle History: When you buying a new bike you don’t have to take any tension about bike history. You are the first owner your bike will have more value and worth.
- Past Mileage: You can get the joy of being the first-hand owner it is not likely to have many miles on it.
Cons of New Bike
- Expensive: A new bike to be highly-priced. To own a new bike, you are required to splurge your investments. New motorcycles are more expensive than used bikes.
- Extra Cost: Buying a new bike you pay extra costs such as registration, RTO, etc. And new bike insurance more expensive than used bikes.
- Insurance Premium: You pay much higher insurance value for a new bike in comparison to used bikes.
- Depreciation: A new bike motorcycle has a higher depreciation value than a used motorcycle. It may depreciate up to 50% within 5 years. Thereby, making it outdated very soon
Pros of Old Bike
- Low Price: A used bike is much affordable than a new bike. The major reason for buying a used bike in many cases, the price difference is maybe 50% or more.
- Lower Premium for Insurance: Insurance premiums for vehicles are decided based on the vehicle’s market value. A second-hand vehicle already crossed its depreciation. Hence Insurance premiums for used bikes are less expensive than new bikes.
- Resale Value: After five years depreciation rate of a vehicle slows down. Thus for a second-hand vehicle, you already paid much less, and selling it again will provide you the nearly same value.
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Cons of Old Bike
- Vehicle History: History of vehicle major concern for buying a second-hand vehicle. You never know what might have gone wrong with the previous owner. make sure to get its history checked before buying a used bike.
- Maintenance: The used bike will need more maintenance. Unexpected repairs may come up very often, it will require more upkeep than a new bike.
- Bad Condition: Buying a used bike means that you have to compromise with degraded bike conditions. Outdated features, technology, style, design, and performance toy have to deal with or get it fixed yourself.
New bike vs Old bike: Conclusion
So, This article was all about buying a new bike vs old bike. If you have sufficient money, go for a new bike. Otherwise, if you don’t want to spend more money and use it as a second mode of transport, better go for a used bike. But make sure to check bike history and condition. Also, buy through an authorized dealer, so you can easily approach them if there are any faults.