Buying classic motorcycles
We’ve been financing an increasing number of classic motorcycles in 2013, so we thought we’d look at the reasons why we think they’re worth considering for purchase – even if you’re more of a car person.
It’s worth pointing out that there are plethora of lower value (compared to cars) classics out there – by lower value we mean sub £10,000 – which can be found on classified sites like www.vintagebike.co.uk. Remember all those magnificent machines of your youth? Chances are you’ll be able to find and buy one here. We’d always recommend buying from a dealer – bikes can look in great condition to the naked eye, but if you’re unlucky, repairs can be relatively expensive when compared to the purchase price of a classic bike although they tend to be a drop in the ocean compared to potential repair costs of many classic cars. There are plenty of reputable and very knowledgeable classic bike dealers out there, and importantly they offer the added benefit of allowing you to arrange finance on the purchase which is not possible through a private sale.
At the top end of the market, prices have gone through the roof with bikes such as the Brough Superior (“Old Bill” sold for just over £290,000) and the Vincent Black Shadow looking like fabulous buys when you consider the original purchase price. A notable Black Shadow sold at Bonhams this April for £113,500 with many other interesting machines selling for strong money.
The other benefits of classic bikes
- You can store five bikes for one car
- They make a great household ornament (always seek the householder’s permission to store your bike inside….)
- Good infrastructure and knowledge in the classic bike fraternity
- Good parts availability
- International market – no issue around LHD/RHD
- They look great
- Lower entry point to ownership of a true classic
If you’re interested in buying a classic bike, we have some great contacts who can assist and advise on the purchase. Classic and Sports Finance offer terms up to 60 months on classic motorcycles.
Images courtesy of Bonhams.