The Benefits of Buying Repossessed Motorcycles | The used motorcycle market often gets a bad reputation, especially in the Philippines. The repossessed market, however, offers a number of compelling benefits over both buying a new motorcycle and buying them used from other sources. We laid out some of the most crucial benefits of buying repossessed motorcycles below.
1.) Trustworthy dealers
If you looked at the used motorcycle market before, you know how difficult it is to find dealers that won’t try to take advantage of you. Hidden defects and dishonesty are quite common on the used motorcycle market, and it’s important to understand which types of sellers you should trust.
Banks and other financial institutions that offer vehicles like repossessed motorcycles are usually far more trustworthy than individual sellers. They have more experience in these kinds of dealings are far less motivated to overcharge or hide any faults in their stocks. This means, generally speaking, you can trust them more than you can trust other types of used motorcycle dealers.
2.) Lower Prices
Of course, the main reason for buying repossessed motorcycles is their substantially lowered prices compared to brand-new motorcycles. Educated buyers can easily find motorcycles in as-new condition for the fraction of the price of a brand new one.
The lower prices are good news for all buyers, but businesses can certainly stand to benefit from checking out repossessed motorcycles. For many emerging businesses, checking out the repossessed market might be the only way they can build the delivery and logistics capabilities they need.
3.) Simple financing
Payment plans fort repossessed motorcycles also tend to be much more simplified compared to payment plans for new motorcycles. In many cases, they may also be simpler to negotiate as well. You may not even get these sorts of deals from individual sellers, many of whom will only accept one-time cash payments.
This can be important for people who don’t have the money to buy a motorcycle upfront but want to take advantage of the lower prices of repossessed units. Sometimes, buying repossessed motorcycles on a simplified payment plan is the only way you can get certain models on a tighter budget.
4.) Rare deals
In many cases, the repossessed market is the only place you can find recent motorcycle models being sold at substantially lower prices compared to their prices brand new. Limited edition models also frequently come up, so the repossessed motorcycle market may be the perfect place to shop if you want something with just a bit more personality. You can also use your motorcycle’s title to apply for a title loan!
5.) Repossessed bikes are often in mint condition
Repossessed motorcycles are usually much newer compared to other used motorcycles. It’s common to find well-maintained motorcycles that are less than two years old, which is always a good thing. Compared to buying a functionally and cosmetically identical motorcycle that’s brand new, the choice is quite easy.
Buying repossessed bikes has several benefits over buying them brand new or used from an individual. But regardless of where or how you buy a motorcycle, it’s important is that prospective buyers do their homework so they’re easily able to spot any potential problems before they become serious.
What other reasons for buying (or avoiding) repossessed motorcycles can you share? Tell us!
