25 October 2013

Two Wheels Good : Saving Money on Motorcycling


Motorcycling can be a highly cost effective way of getting from A to B. However, if you’re not careful you can rack up some unnecessary expenses. Here are some of the ways you can save money when buying your motorbike and kit.

Smart Buys

You can obviously save money when buying a used machine, but that’s not the only way of bagging a bargain:

•    Often you can find last year’s models brand new on the showroom floor for much less than they were offered for when they were just out. Bikes are also regularly cheaper in the winter months when there is less demand.

•    Don’t spin the dealer the old “I’ll come and buy it tomorrow” line. Let the shop know you are serious about making a purchase and stress that, for the right price, you will gladly put a deposit down that day. But, as with anything else, know your budget first – and stick to it. If your dealer won’t come down on price, they may be prepared to negotiate you a deal on perks or any of your biking accessories instead.

•    Given that the dealership where you buy a new motorcycle is also the place you’re most likely to have your first servicing done, look for places offering loyalty discounts and other rewards – such as 10% off accessories, for example.

•    Haggle – especially if you have a second-hand machine to trade in. Dealers are often extremely keen to acquire stock, as it can often be more difficult to buy than to sell. Indeed, a used bike in good condition can often garner you a better deal even than paying in cash. So if you are already the lucky owner of, say, a decent Japanese sports bike, now is a good time to sell. Make sure you hold out for the price you were expecting to get.

•    In terms of beating depreciation, four or five year old exotic sportsbikes hold their value well and can be bought and then sold at minimal loss. Good examples include the 999, the Benelli Tornado and F4 MVs.

Kit

Clearly you can save money by buying second-hand kit and selling your own gear that you no longer use or need online. But there are some things it’s never a good idea to buy second hand:

•    Helmets
These could have been dropped or knocked without leaving any evidence on the outer shell.

•    Gloves
Gloves can become compromised in a crash and then made to look as good as new on a sewing machine, but the seams and stitching won’t hold in the way a new pair would.

Many riders also prefer to buy their own new boots for hygiene reasons.

Gear you can buy second-hand to save money, however, includes motorcross armour, jackets, reflective material and heated gear.

Go to Trade Shows

Another great way to save money is if you can wait for trade shows like the MCN London Motorcycle Show in London in February, or Motorcycle Live, which this year comes to Birmingham’s NEC from November 23 to December 1. Dealers are often keen to sell off remaining kit for a discounted price, especially at the end of these shows.

Do your research

When it comes to buying parts for your machine, it can be easy to assume that your motorbike is unique. But different manufacturers use identical pars at widely varying prices. The same headlights, for example, can be found £150 more cheaply if you know where to look. Italian parts can be among the most expensive. Specialist online forums are generally the most reliable sources of information.

Bennetts offers a number of exclusive deals on its insurance policies, click for more information on its products.

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