Motor Industry News
MyMotorCycleCheck.com top tips for used buyers September 2014:
R Nine T, CBR 500 RR & MT01 praised as 14 64 plate boosts market
MyMotorCycleCheck.com - the UK’s No.1 motorbike and scooter provenance website - has saved many a biker from making an expensive two-wheeled mistake. In these monthly bulletins its Valuation Team’s expert reveals significant trends in the UK market and suggests three wise buys.
- Highly desirable: BMW R Nine T
- Safe bet: Honda CBR 500 RR
- Used star: Yamaha MT01
MyMotorCycleCheck.com’s Rob Hobson commented: “For our highly desirable model this month we’ve chosen the BMW R Nine T. From the moment it launched this bike was a hit with buyers in the growing naked Custom marketplace. With used examples still something of a rarity, values should hold up well. So long as you carry out a history check to ensure the one you’re looking at is what it claims to be – for instance, that it hasn’t been written-off and isn’t still on finance – then this is certainly a bike worth paying a premium for.
“In terms of bikes that hold their value, safe bets don’t come much safer than the Honda CBR 500 RR. Condition and mileage will influence values on this popular bike, but clean undamaged low mileage examples are renowned for being a good used buy. When it comes to negotiating, remember, as well as revealing a bike’s history, MyMotorCycleCheck.com also provides valuations – a great tool for haggling with dealers or private sellers.
“For our ‘used star’ this month we’ve chosen the Yamaha MT01. Considered by many to be too expensive new, these are likely to become sought after as used bikes. Residual values will reflect the limited numbers available. As always, do your homework and check before you buy. Watch for mileage and a full service history.
As to market trends, Hobson commented: “We hope that wet weather conditions won’t dampen the overall strong showing the market has achieved over the first half of this year.
“July alone saw just under 10,000 machines registered, up nearly 14% compared to the same month last year. With the new marketplace running at around 12% up on last year after eight months of the year, and all style categories showing growth, only time will tell if this upward momentum can be maintained.
“September saw the introduction of another new plate as 14 64 registrations rolled out of showrooms. While the second plate change in the year has less impact on the market than the early year change, there should still be a significant lift.
“The new plate will obviously bring in a number of good used bikes for the bigger franchise operators, and will go some way towards filling showroom spaces over the short term. While we have eased values down this month, in anticipation of a slow in demand, we expect trade bids to remain strong for the best bikes. Interestingly, values at the older end of the marketplace, particularly sports styled bikes, continue to be remarkably strong, probably fuelled by the ongoing demand for track bikes.
“The used market is in a kind of catch 22 situation. The trend of exporting the cream of our crop, and taking a short term profit, continue to bite as our pool of used stock ages and dwindles. There continues to be demand for most things in the ‘standard, clean, below average use’ and ‘above average condition’ categories, but higher mileage, less desirable stock is getting ever more difficult to shift.”
MyMotorCycleCheck.com’s parent company, CDL Vehicle Information Services, performs over a million look-ups a day for companies including AutoExpress, CompareTheMarket, Confused.com, Go-Compare, Moneysupermarket, Swiftcover, Tesco Compare and WhatCar?.
It uses up-to-the-minute data from the Police (NPIA – previously known as the Police National Computer or PNC), the Driver and Vehicle Licensing Agency (DVLA), the Association of British Insurers (ABI) and major finance houses including Lloyds TSB and Santander.
To help UK consumers make the right choice, MyMotorCycleCheck.com provides an instant snapshot of all the key vehicle information. For only £4.95 you can confirm whether your potential pride and joy has ever been scrapped, stolen or written-off, has any money owing on it, has had a plate or colour change and much more.
Know what you’re getting onto: MyMotorCycleCheck.com