How to Buy a Motorcycle
All you need to know about how to buy a motorcycle right here with Savvy.
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How to buy a motorcycle – Savvy’s guide for riders
Whether you’re a seasoned rider or you’re looking to buy your first bike, Savvy’s tips for how to buy a motorcycle will make the process easier – and cheaper. There’s no better way to see Australia than on a bike, so if you’re thinking about buying a new motorcycle, you'e come to the right place. We’ll look at the associated costs of riding a bike, take you through selecting the right type of motorcycle for your needs, and provide a checklist of what to think about and look out for when you go to view your shortlist.
How to buy a motorcycle without breaking the bank
Buying a new bike is all in the planning. Getting mobile these days comes with a whole bunch of extra costs, like insurance, fuel, registration, and maintenance, but you can get on the road a little bit cheaper if you do things the right way. At Savvy, we're partnered with specialist lenders who offer products designed specifically for riders. You can get started with a free, no-obligation quote through us today!
How does bike finance via Savvy work?
Motorcycle finance via Savvy is pretty quick and straightforward to arrange. Just get in touch with one of our helpful consultants, and we can talk you through the application process – which is just a case of submitting a few simple documents via the website.
In terms of qualifying for bike finance, lenders will perform a credit check; then, they’ll look at your last few month’s bank statements to gauge your suitability for a loan. You’ll need to demonstrate enough regular income to handle repayments – and that can be from full-time or self-employment. You can even get bike finance on Centrelink. The main qualifying requirement is that you can afford to repay the borrowed amount.
Once your loan is approved, lenders pay the dealer or private seller directly, so there’s no waiting around for cheques. Repayments are flexible. You can choose terms between just one year or use up to seven years to pay back the amount you borrowed. Interest rates are fixed, so the amount you repay is the same every month. Bike loans get secured against your motorcycle, which means the interest rates are lower than for personal loans. You can also use a deposit if you’ve saved up some cash or opt for 100% bike finance. You can use a bike loan to buy from an auction site, private seller, or a dealership – and it doesn’t matter if the machine is new or used.
How do I choose the right bike for me?
There are several different types of bikes on the market these days. Each one is designed for one or a couple of specific sets of riding conditions, and it’s important to get one that fits your requirements. Likewise, don’t forget that you can always upgrade your bike if your riding requirements, job, or situation change. With a secured bike loan, you’re not tied to one machine until the finance term ends – so only spend what you need and keep your borrowing costs down.
First off, don’t buy a superbike if all you’ll be doing is riding around the city or commuting in rush hour traffic. You’ll pay a lot of money, the value of the bike will lessen during your ownership and it’s unlikely you’ll ever get through all the gears. Match the performance of your machine to the riding it’s likely to get. If this is a commuter bike, consider economy and grunt in lower gears. If you’re riding in traffic, prioritise handling, keep it compact and think about safety and comfort. Some of the scooters and hybrid machines available today are great fun to ride.
Many bikers purchase a model predominantly for weekend riding and covering longer distances in comfort. If that sounds like you, you’ll probably be looking at a touring machine. Think about ride quality rather than acceleration. If you’re riding rougher terrain – perhaps for off-road camping trips, or you live on unsealed roads, consider off-road bikes. You might want to think about luggage capacity and mounts for tank bags, saddlebags, and panniers.
Why nore Australian bikers source products via Savvy
Find more specialist lenders
Savvy partners with a panel of specialist lenders who cater for bikers, offering a range of products for active riders.
Expert bike finance consultants
Savvy understands finance should be a cost-effective means to an end. We work hard to get you moving for less.
Fast, convenient finance solutions
Buying a bike should be about the open road, not about hassle. We’ll help you find a quick, seamless solution.
What to look for when buying a used motorbike
View the bike during the day if you can
If you can, it’s better to look at bikes during the day. When you’re considering how to buy a motorcycle, it’s surprising what poor light can hide. If you can’t make it before dark, bring a decent torch with you and pay even closer attention to every element we discuss here. It’s also a great idea to enlist the help of any friends who know more about bikes, engines, and even cars than you do. If you’re not getting a third-party inspection, try to bring a long someone who has some mechanical knowledge. An additional benefit of this is that two heads – and an extra pair of eyes – is always better than relying on your own judgement.
Make sure you get to start the bike from cold
You’ll want to see how the bike responds and runs across the entire heat scale. Problems that cause a bike to be hard to start can completely disappear once the engine has warmed up, so make sure to carefully check if the motor is cold when you arrive. You’ll want to perform some of the trickier checks before you start the bike and parts get hot. Check the oil level and give the machine a quick visual inspection to check for leaks and damage. Once you’re done, start the bike and let it run while you inspect other elements. That will let the bike get to operating temperature, and you’ll be able to ensure it’s not overheating or running rough. Keep an eye on the temperature gauge while it warms up.
Look over the paintwork, chrome, and fairings
Just like with people, how a bike looks can tell you a lot about the kind of life it’s had. Take one or two steps back and walk around the machine, checking for damage, dinks, and scratches. If the appearance is generally rough, that’s almost always reflected in the inner parts you can’t see. Don’t buy a bike that looks like it’s had a hard life because there’s only one reason it appears that way. Apart from aesthetics, note any damage to fairings and the exhaust. Check that pedals and shifters operate freely and correctly. It’s important to remember that this is a used machine, so it won’t be perfect, but there’s a difference between something that’s got normal wear and tear and a bike that’s been abused. Use your best judgement, and walk away if you’re not happy.
Check out the brakes
You’ll probably have established by now if this bike is going to go – but it’s arguably even more important that it stops as well. With bikes, safety is of utmost importance. Brakes really matter when you’re riding a motorcycle. You don’t get the same protection as you do driving a car, and often, the best way to avoid trouble is to anticipate it and stop. With that in mind, pay careful attention to the braking system. With a motorbike, that’s as simple initially as sitting on the machine and checking they operate freely and effectively. You can also check the brake pads visually through the wheels. You’ll find them attached to calipers near the rims. If they’re quite worn, that’s no reason to walk away from a bike, and it isn’t a sign of abuse. Brake pads are designed to almost completely wear down before replacement – but you’ll need to budget to get the bike to a mechanic after you buy.
Check out the suspension
Another important element when it comes to bikes is the suspension. Not only will that greatly influence the comfort of your ride, but it’s also a safety factor too – which can affect handling, road holding, and how quickly the bike comes to a halt in an emergency. Most of the important work takes place at the bike’s front end, and suspension happens within the forks. You can test that initially by applying the brakes while sitting on the bike. Lean as hard as you can on the handlebars and try to compress the forks by pushing downward. You should feel slight, free movement but not too much play. Any thuds, knocks, or bumps, and it’s a terrible sign.
General items and serviceable parts
Just like with the brake pads, it’s normal for a bike to wear out several of its parts – and that’s not a major concern when you’re viewing. Where it can make a difference is to your budget. If you’re looking at a motorcycle when it’s due for a major service, the costs of replaceable parts and labour can mount up. Check out the tyres for excessive wear. There should be plenty of tread left (at least a couple of milimetres) and no signs of damage to the walls. With the bike running, check that all the lights and indicators operate. Then, check that all the gauges and lights on the dash work like they should – with no unwanted warning lamps. Electrical issues can be expensive to diagnose and remedy, so don’t assume any seemingly small issue isn’t a major problem.
Riding the bike: an essential step
Test riding any second-hand bike is an absolute must. If for any reason, the seller says that’s not possible, it’s time to just walk away and look for an alternative. You’ll need to retest some of the items you checked earlier under load, make sure the engine runs properly and has no dud spots, and figure out if the machine feels right for you. It’s important to test the bike under all conditions. Take it up a steep hill, ride at highway and street speeds, and use all the gears to make sure they work. As you ride, keep an eye and an ear on the suspension. Even though you checked that earlier, there are far more stresses under the loads created by cornering and bumps in the road. The same goes for the brakes. Make sure the bike stops correctly and listen for any squeals or unusual noises. You don’t need to be an experienced mechanic to test ride a bike. The number one thing to remember is if something doesn’t feel right, there’s likely a problem. If you’re not sure, carefully ride the machine back to the seller and move on.
Top tips for first-time motorbike buyers
Should you buy new or used?
The best starting point when you work out how to buy a motorcycle is your budget. Buy the best bike you can afford without putting an unnecessary strain on your finances. If you follow our steps for inspecting a bike, chances are that the more you spend, the more reliable your new ride will be. It’s better to look at older or slightly slower models with fewer kilometres and less wear than it is to set your heart on a faster, harder-ridden model if your budget is tight.
If you can afford to buy new, that brings some benefits. You’ll get a warranty, and there’s a lot to be said for knowing a motorcycle hasn’t been abused, missed countless services, or gotten knocked around. That being said, stick to what you can afford, do your homework, check the bike out thoroughly, and stick to your budget.
Should you buy private or from a dealer?
Buying from a dealership comes with some advantages – like warranties and more scope to return a faulty machine, but you will pay a premium for the experience. Again, you might want to consider private sales if you’re working to a smaller budget, but it’s vital you follow our guidelines for bike inspection if that’s the case – and walk away every time you’re in any doubt – there are plenty of second-hand motorcycles out there.
Private sales are almost always cheaper than going to a dealership. That might seem a bit daunting if you’re a first-time buyer, but the savings on offer can be worth the extra effort – and you can always get a third-party inspection.
Learner Approved Motorcycle Scheme
If you’re just starting out on your bike riding journey, you’ll need to limit your search to bikes that meet the requirements of the Learner Approved Motorcycle Scheme (LAMS). It’s up to you to make sure you ride a legal bike. The police won’t advise you about this; they’ll just hand you a very costly ticket, a ban, or both if you get things wrong.
LAMS is set up to make riders safer while they’re still learning the ins and outs of riding a bike. You’ll need to make sure you do your research, but the scheme is about restricting new bikers to certain motorcycles based on their power to weight ratio. It applies to all riders during their first year on the road, and all LAMS-compliant bikes have a maximum power to weight ratio of 150 kilowatts per tonne. They're also capped at 660cc.
Use buyer power and shop around
As mentioned, never lose sight of the fact that your next bike inspection isn’t the last bike inspection available. There’s a reason that riding is so popular in Australia, and that means there are thousands of bikes on the market at any one time. Don’t get pressured to rush into a sale by a dealer or a private seller. When you’re informed someone else is coming to see the bike straight after you, get told there are half a dozen viewings this weekend, or hear the much-uttered, ‘first to see will buy,’ take it with a pinch of salt – and take your time deciding, too.
Nobody ever didn’t buy a bike because they couldn’t find the right one for sale. How to buy a motorcycle is sometimes about common sense and control. Remember all you’ve learned in this guide, keep your cool and your money in your pocket until you find the right motorcycle for you, and you’ll be on the road in no time.
