The vast majority of us depend on a vehicle of some description to get us from A to B. Whether you have a motorcycle, a car, a truck, or a pushbike, it’s always wise to think about protecting your investment. There are ways to save money on driving, and it’s also possible to reduce the loss of value when buying new cars and bikes. Here’s a handy guide to help you ensure the decisions you make on the forecourt benefit your bank balance.
Old versus new
One of the most pressing questions people ask when they’re looking to replace a car or a motorcycle is ‘should I buy a new or an old vehicle?’ Many people like the idea of getting a shiny new bike or car straight off a transporter, but the reality is that often, buying brand new is a move that won’t make financial sense. The value of a car, for example, will drop the moment you drive away from the dealership. If you do want to invest in a new model, it’s worth waiting a few months or a year and buying nearly new instead. This way, you’ll pay less for the car, you get the thrill of driving around in a sparkling vehicle, but you won’t be losing money as fast.
Investing in classics
Old cars aren’t usually worth much, but there are some vehicles that buck this trend. Classic cars and motorcycles that have a distinctive brand name and a sought-after style can be worth a fortune. There’s a limited number of relics from ages gone by around now, and collectors and passionate drivers and bikers are willing to pay a premium. Old-fashioned cars and cruiser motorcycles like Harley Davidson bikes are in demand, and if you’re looking to invest in an asset that has a better chance of appreciating than a brand new model, this could be an avenue worth exploring. You might have to do a bit of patching up and look for parts on sites like Solomotoparts to restore an unpolished gem to its former glory, but your commitment will be rewarded. If you’re not au fait with the inner workings of an engine, it’s best to seek professional advice.
Looking after your vehicle
For many people, buying a car or a motorcycle marks the second most significant financial investment after purchasing a house. If you’ve spent thousands on a vehicle, it makes sense to protect your asset. If you take good care of a car, for example, you’ll save money on repairs, you’ll increase the chances of the vehicle holding its value, and your car will be more marketable if you do choose to sell. Keep up to date with regular services and checks, drive carefully, and get any suspicious noises checked out as a priority.
Picture taken from https://pixabay.com/photos/harley-davidson-harley-davidson-2651708/
Are you looking to buy a new car, or are you thinking of adding to your collection of motorcycles? Many of us are excited about driving a new car, truck or bike, but it’s important to use your head as well as your heart and take steps to protect your investment.