The demand for bicycles is ever-increasing, and the markets find it hard to restock their stores due to a high of bikes. Some editions are limited, increasing purchases and reducing your possibility of finding the exact model ever again. Sometimes you have noticed that the stock does not get refilled due to the low demand of a particular brand or model. And it is very uncertain if the store will come in. If it does, will it restock the same brand?
In recent times, there has been a significant disruption in the supply chains for equipment like bicycles due to the reduced level of production at the industries, resulting from the coronavirus pandemic. As people were confined to the walls of their houses or specific locations, most people sort to engaging in physical activities, and bicycling was one of them. This to these increased demands, most customers were unhappy and couldn’t get their hands on a new bicycle.
However, with the world learning to live the new normal, people are switching to alternative methods of buying a second hand or a used bicycle instead of waiting until the stock reappears. At the same time, the rest of the people are already into bicycling and boking a pre-order to get a new edition of their currently existing bicycle.
You may be in one of these people. However, if you are having a tough time deciding if you should buy a used bicycle or purchase a new one, read the below advantages and disadvantages of buying a used or new bike. Then, go for the option which, according to you, has minimal pros.
Advantages Of Buying A New Bicycle
No breakdowns
A brand new bicycle has negligible possibilities to suffer a breakdown as soon as you buy it. However, since you will be the first to use the bicycle, it should function smoothly and be of good quality.
Increased survival
Store-bought bicycles have an increased survival rate, which means they will last longer than a second-hand-bought bicycles. Since you buy it directly, the total usage of the bike has been zero, and usage levels start with you.
You can always resell
A resell option will always be open to you because you have bought the bicycle from the store. Buyers will approach you depending on the usage, the condition, and the model of your bicycle. Therefore, there is a guarantee that you may get at least half the money you invested while buying the bicycle.
There comes a warranty
All store-bought new bicycles will have a warranty. The contract term will vary according to the model; however, on average most bicycles have a warranty of two years from the day of purchase. Due to this warranty card, you can always approach the store for any breakdown or repair and also get parts reinstalled if it’s defected without needing to pay anything.
Continuous services
One can always approach the after-sales services if you buy your bicycle from a physical store. Your details as a customer are saved in their system, and therefore, you will be catered to by the customer care services. Consequently, you can always access their processes, and this isn’t a highly complex process.
Support to industry
By buying a brand new bicycle means you are giving a business to the bicycle industry, which further supports the thousands of employees working for them. You also form a part of the supply chain, making production and sales go smooth.
Disadvantages of Buying A New Bicycle
High-price
A new product in the market always has a demand linked to it. If you are too tight on your budget, buying a brand new bicycle can be overwhelming, significantly when you keep changing your bicycles. If you cannot afford this process of purchasing brand new bicycles every two years, you may also end up taking a loan and working hard to clear that loan.
Low resale value
The moment you buy a brand new bicycle, its value decreases, and it’s evident that the resale value will be lower irrespective of the bicycle’s condition, quality, and brand. This is because you will never get an equivalent price, the same price you bought the bicycle.
High cost of insurance
Because it’s a piece of new equipment, the security that comes along with this equipment is also unique. Therefore, the cost of overall insurance and security spikes for a new bicycle compared to the security related to a second-hand bicycle.
Advantages of Buying A Used Bike
Access to branded bicycles
One of the best pros of buying a used bike is that you get a hands-on experience on a branded bike whose actual cost is high enough for you to afford. In addition, several lenders offer very competitive loan interest rates, making your dream of buying a branded and high-priced bicycle.
Good for the beginners
If you are someone new in the game and want to learn the tricks of riding a bicycle, then having a touch on a used bicycle is better than a brand new one. You can also decide if you are meant for the bicycles and the brand that will suit you the best. Even if you fall and your bicycle suffers an injury during your learning, you wouldn’t be very conscious since it’s a second hand. Also, the price for the repair of a second-hand bicycle is lower than the brand new bicycles.
Lower insurance premium
The premium that comes in with a brand new bicycle is always high, and so, when you buy a used bicycle, the premium on insurance gets reduced to at least half of the actual premium. As a security price is lower, your investments also get reduced, making you buy a used bicycle with whatever budget you own.
The ability to restyle
A used bicycle can be restyled and reequipped easily as compared to a brand new one. One can even experiment on the gears and tires and come up with unconventional models due to the ease of these parts being remodeled.
Disadvantages of A Used Bicycle
Susceptible to breakdowns
A used bicycle has a higher chance of suffering frequent breakdowns if its condition is not very stable. In addition, the dealer can dupe you through the appearance of the bicycle because most of the time, the bicycle appears to be in good condition but eventually gives trouble.
Zero resale value
No one will want to buy a third-hand bicycle. Even if they do, your value of resale reduces to three-fourth of the actual market price. It can be considered a one-time option, but its demand will be pretty low if you plan to resell the second-hand bicycle.
High-maintenance
A used bicycle will call in for high servicing and maintenance at some point in time. So though you would be saving initially by buying it at a low price, you will eventually spend a heavy price on its servicing and maintenance charges.
Fewer options
Because you are confined to purchase a used bike, there is very little room for choices and options. You may have to compromise with the brand, color, structure, and efficiency.
The bottom line!
No matter which bicycle you plan to buy, there will be some pros and cons associated with it. Therefore, before making a purchase, it becomes imperative to visit these advantages and disadvantages to avoid regretting your decision. Look through these features and make a decision that best fits you.
