How Can Depreciation Hurt the Value of Your Motorcycle?
When you purchase a motorcycle from a dealer, or a private seller, you are paying a retail price whether you buy new or used. This initial investment begins to decrease the moment you take possession of the bike. Over time, your motorcycle will lose some of its value for various reasons including wear, tear and mechanical issues. This deterioration of the fair market value is referred to as depreciation. The rate at which your motorcycle will depreciate is contingent on the number of miles you put on your bike, along with other important factors. These include the make and model of your bike, specific mechanical issues and the overall demand for motorcycles by consumers. Given advances in technology and shifting consumer requirements, certain models of motorcycle can quickly fall out of favor. The fair market value of these motorcycles can decrease rapidly. If you wreck your motorcycle or are in an accident with motorists, and the bike requires significant repairs, this can furthe...