Recession Specials?
Feb 17th, 2009 by Leo
You might think this might be a good time to find used motorcycles on Craigslist and EBay. Surely, with the recession and all, there are bound to be many great deals to be had for anyone with the spare cash. And usually February is a decent time to go used-bike shopping, but not this year. It seems that the used bike market is tied to the new bike market. People sell old bikes in order to raise cash for the newer models. As people hold off on major purchases, they also hold off on selling their mint condition 3-5 year old motorcycles for another year or two.
The Numbers
In the past 3-4 year old 600cc super-sports in “good” condition (i.e., never dropped or crashed, may have small scratches on the paint from clothing and bags) was in the $4k-$5k range. So last year you could find an ‘04 R6 for around $4500 on the low side. This year asking prices are closer to $5500 for the same ‘04 model (although I see an ‘05 R6 on CL right now with an asking price of $5500).
On the budget end, people were expecting that Kawasaki’s EX (Ninja) 250 would be on fire-sale since the new model came out in ‘08. Two years ago you could find 3-4 year old “good” condition 250’s with very low mileage for well under $2000 (more like $1400-$1700). But right now there aren’t very many used EX250’s listed, and the asking prices are $2k and above. So if you were looking for a recession special, you’re out of luck for now. On the other hand, if you buy a used bike now you’ll be helping someone out who may need the cash…
New Bikes
Although there are no deals for used-bikes, new bike dealers are feeling the recession cut into their sales of their higher end bikes, gas guzzlers, liter bikes. So if you’re in the market for a new bike, you have a little negotiating leverage. The Honda Yamaha dealer in Astoria here is getting rid of their ‘08 CBR1000RRs for just $9580, with no additional “freight” or “prep” charges (which is how all dealers should state their prices); that’s a brand new liter bike for the price of a 600. I don’t see these kind of deals for 600’s and economy bikes (I think Ninja 250’s are probably selling pretty well right now).
Anyway, all this is just for the NY area, it might be very different where you are. Are you in the market for a new or used bike? What are prices like in your area? Chime in and let us know. Cheers!
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I have a different take. This recession breathes new interest into the bikes I already own because they’re paid off. Taking on extra debt or spending what cash I do have on a new bike would seem beyond stupid since what I’ve already got is perfectly fine and still exciting or interesting enough. In fact, I’d say the recession has made me find even more things “interesting” and “special” about the bikes I already have.
Love the one your with. Sorry, local dealers.
I have a used 2002 sv650s that I am willing to part with for $2k. Runs well and is definitely battle scared. I never dropped it but the guy before me sure did. I am getting rid of it because I bought an 03 Speed Triple.
I would agree with Robo… Most people are in a position with what they have is fine and there is no need to get into more debt for something they want.
I would say the things you see for sale online are people desperate to raise cash.
I think the fun part of bikes is riding them, not buying them… And many upgrades aren’t really “upgrades:” your daily street-riding experience won’t really be much better on a 20k Ducati than it will be on a 6k Kawasaki…
But having said that, sometimes you need a new (or new to you) bike. Maybe your current bike doesn’t fit you, or fit your riding style, or its maintenance schedule doesn’t fit your lifestyle anymore… In which case, help out the economy and go ahead and buy something – just, whatever you do don’t finance it…my personal opinion is you never, ever, ever finance a bike. You’re better off buying an old SV for 2k…
Subaruzi, do you want to mention what city you’re in and link to some pictures of your bike?
Thanks. I am up in Vermont but if you are interested in it I would probably ride it down to the city for you when it gets warmer. hit me up at tristram77 @ gmail.com
I am with you on not needing to buy a new bike. If you can’t afford it outright in cash you can’t afford it. Put that money into your 401k and you IRA. Buy used and be happy that someone else took the initial depreciation hit. That being said my 2003 Speed Triple needed a new engine because the original one was jacked and the seller (private sale) didn’t give me full disclosure. I was lucky and grabbed a used one off of eBay for $450!!!!
Oh yeah I have all the papers of the work I got done on it too. If I was keeping it I would probably strip off the fairings and make it a true naked. It would look a hell of alot cleaner then.
It’s an interesting time out there, for sure, for bike sales. Four years ago I bought my ‘72 Honda 500 four for $1300; today I have offers on it for $2200. Crazy!
@Leo – I agree with failing to see many “deals” out there; the time to buy was definitely a few years ago.
@robotribe – I’m definitely in the same boat of looking at the bikes I have and realizing how thrilled I really am with them. But, for me, that also means riding the ones I love like they’re meant to be ridden and finding new homes for the others.