l bought a 2014 Street Triple 675r in 2016 with just under 3200 kilometres ...It was absolutely immaculate, still is in fact. Its now got 86,000 kilometres on the clock...As a trade in its worthless, both the local Triumph dealer or a Secondhand dealership is interested.....Plus being 77 years of age precludes me from any kind of financing, including the bank...so I'm destained to be the oldest Triumph Street Triple 675R hooligan on the planet...... When l first pestered my parents for a motorcycle my dad had to sign the paperwork....now, 61 years later l cant even sign for myself.!!...

@bankruptpensioner

4 ай бұрын

Wow, 86k. Must be one of the highest on the planet Brian. Just shows these triple engines from Triumph are excellent. Love the story on the 16 and 61 year old having to get signatures. Your kids (assumed) will have to be a guarantor for you in the near future 😆. I never considered that and I am only a few years behind you. 👍

@brianperry

4 ай бұрын

@@bankruptpensioner here in Spain there is a 70 year old cut off point for finance. Triumph dealership told me that...The bank told me much the same....l wanted to change to a lower seat hight and feet flat on ground.....cause I'm not as young as l was.!!.Just seemed a sensible move to stay riding...

It's a rich man's game changing bikes every year. Trick is buying the right bike and keeping it. My MT10 was just under £10,000 brand new. Ridden it for 8 years putting 35,000 trouble free miles on it. Got offered £5,000 trade in last year (didn't sell) That's £5,000 depreciation over 7 to 8 years. Value for money in my opinion. Owned a Multistrada from new in 2012 that gave me so many break down issues I sold at 18 months. That cost me nearly 5K in depreciation. Never again!

@chrishart8548

4 ай бұрын

Don't expect the MT-10 will ever be worth less than £5k no matter how old it gets .

@Banditmanuk

4 ай бұрын

@@chrishart8548 Think you're right. It tends to go more on condition and service history.

Not surprising at all, it's the same with all vehicles. That's why you buy nearly new and not new. I bought a July 2023 registered Tiger 900 GT Pro with full luggage for 11200 and it only had 1k miles on the clock. Because i do a lot of miles as well i know it will depriciate quick but it's worth more to me for the enjoyment factor and it helps with my commute. I know it's hastle but you can always get a better price selling privately. I've always bought nearly new, I had a couple of BMW M cars and lost very little over my years of ownership.

I won't have lost that amount on my GoldStar simply because i didn't pay that much in the first place but it certainly means i won't be selling if for a long time. Stick with what you've got till it falls apart.

@bankruptpensioner

4 ай бұрын

Hi Ian, I bought the Tiger as a keeper, potentially to go round the world in a couple of years (once they realise I am too old at work and say the wrongly perceived things in this new world of talking 😆). So, the financial loss is not such a big problem for me. You are right though, best sticking with the 'thing' until it falls apart 👍

I usually own my bike’s for about 10 years so I bought the bike i have now brand new I know exactly how it was run in and how well it’s been looked after it works for me

If that bike has helped you smile and have good times, then It’s been worth every penny.

As first owner you’re taking the VAT 20% tax hit in the uk as you ride out of the showroom doors. I was thinking of a 900 too but a clean late model 800 of very similar specification including 3 panniers/topbox came in at £6700 with comfort seats, TFT screen etc. Bargain! And it does more miles per gallon 😂 I see early 800 Tigers still holding their vales too, £3000+ for a 10year+ old bike. 900’s are likely to do the same now you’re over that initial depreciation. Nothing like being first owner, but it comes with a hefty premium!

Your video is very helpful thank you. 😊

You did do well with getting the Tiger for the price you paid, when I was looking to buy a Tiger the new price was £13860 which was far more than I wanted to pay. I had seen older Triumph tigers(2019/20) going for over £10k from the same dealer in early December. It is true that almost all new vehicles lose most in the first year and with former importers reducing prices of their stock(MotoGB) this has kicked the bottom out of the secondhand value for us Royal Enfield owners.

@bankruptpensioner

4 ай бұрын

Hi Dave, I did do well. Told the missus I got an exclusive T Shirt for 10.5K and they gave me a free bike. Went down as you would expect 😆. It is a crying shame for RE and their owners over the past year or two, unsettling the market makes future buyers very nervous. However, I do think this will sort its self out over 2024 - hopefully 👍

@AliasMrHackenbacker

4 ай бұрын

@bankruptpensioner I have no plans to sell my Himalayan as it does what I want it to do, it was the Potteries demonstrator, so it came with a few genuine accessories fitted. It gets used all year round and gets very filthy whilst my main bike stays dry and cosseted in the garage waiting for the better weather!

@bankruptpensioner

4 ай бұрын

@@AliasMrHackenbacker Don't let the Himmy go, they are one of the best real bikes on the road 👍

I dont buy from dealers and certainly dont sell to them, I've suffered minimal depreciation and have actually made a little on some of them, I would buy nearly new from someone who has unfortunately paid the depreciation for me, dealers have massive margins to work with espacially main dealers, not so much the smaller non franchised.

@bankruptpensioner

4 ай бұрын

Normally, BadShot, I don't buy from dealers but did get a great deal on the Tiger. I never sell to dealers and this vid is exactly why. 👍

That’s why you never buy a high end motorcycle unless you are going to keep it for several years & get your moneys worth out of it. If it’s a large type of bike the sort that’s owned by mature riders , it’s best to buy used in almost mint condition & let those with more money than sense take the initial drop in value . You are also likely to get sensible extras like a main stand , hand guards engine bars & carrier & top case . & even panniers if you don’t mind being called a 3 box W ⚓️ all thrown in .

I am pleased that I drive and ride classic bikes and cars. All my vehicles suffer from zero depreciation. My 1988 BMW K75 has been giving me excellent service since 2008. No major problems. Goes anywhere and everywhere. I did 2 trips in 2023, one was over 8,000 kms and the other 3,000 kms. Next trip planned for April is to Morocco. Your video has an important message. Most people have no idea that depreciation is their biggest motoring cost. They consider fuel economy and maybe servicing costs, but rarely how much it costs to replace it after depreciation.

@paulrendell8797

4 ай бұрын

That's great and I completely get what you're saying. But at some point someone had to buy those bikes new and presumably lose out on the depreciation for you to be able to own them now. You could go at it from another direction and buy a vehicle new and just keep it for years until the wheels fall off. You take the depreciation hit at the beginning but make up for it by not buying another vehicle every 3 years or whatever.

@rickconstant6106

4 ай бұрын

@@paulrendell8797I prefer to let that be someone else's problem, and have the best of both worlds. My current car was 3 months old with 3000 miles when I bought it, and £7000 less than new price. With bikes, both of mine are over 40 years old, worth more than when I bought them, and will not depreciate any more.

I find it ridiculous that dealers are charging nearly the same price for a year old bike as a new bike. Never trade in, sell privately

@GiancarloBenzina

4 ай бұрын

When you trade in at a dealer, you loose 40% of the bikes value, and $/EUR4000 at minimum at any age of the bike. All lower sayings are false calculations, where other dealer benefits are included and not shown, or stupid dealers that won’t survive well for long if they do that over and over. Or for some reason the bike is dealt higher than it’s value, so he can make a “better” equally bad offer, as in that case you could privately sell it higher, too, like in any case and without sweat.

My understanding is you ether keep them for a long time look after them as i do, get your monies worth or PCP them, abuse them in all weather's and hand the keys back, i think more people are doing the latter these day's with all the modern electronics that'll go wrong after warranty.

@bankruptpensioner

4 ай бұрын

Hi Richard, you are right, more and more people are going the PCP route today. I went through a period of this many years ago but I have now seen the light. Buy it, keep it until it falls apart 👍

If you keep it 4 years it will even out , first year is always a kick in the nuts. So if you don't intend to own it for more than two years it doesn't make financial sense, buy a used one, witch is what i do because im poor 😢. Keep it shiny side up .

@bankruptpensioner

4 ай бұрын

Hi Ray, you are right, letting it go so early in its life will cost a lot. Mine is a keeper, certainly until I cant ride it anymore due to its size, but it was interesting to understand what the trade in was 👍

@chrishart8548

4 ай бұрын

I bought a brand new bike in 2014 but I still have it now paid cash anyway. It was my reward for all the overtime I did at work. Not sure what I would of done with the money otherwise. Another bike I bought in 1997 brand new I sold it to a friend for the trade in price. So at least he got a great deal.

@bankruptpensioner

4 ай бұрын

@@chrishart8548 Chris, there is wisdom in your comment. And I assume the 2014 bike is not much different to the 2024 equivalent?

@chrishart8548

4 ай бұрын

@@bankruptpensioner it's an BMW F800Gs the 850 seems like a worse bike A lot Heavier the f900gs is almost getting back to what the F800gs was. I'm loving it. Goes in for a service Tuesday. It does everything I want of it.

You're looking at the pricing wrong. Firstly your bike is a two owner vehicle as it was preregistered, secondly if the retail was £12500, then 20% of the price went straight to VAT , was that a surprise? I think they were being generous with their offer

Hi Richard totally agree dealer will always want 2k profit on any bike you px I used them this time to buy my triumph tiger 900 gt pro as had triumph tiger 1050 couldn't sell it so I bit the bullet and lost 2k on px as I wanted the gt pro and love it all the best Richard

@bankruptpensioner

4 ай бұрын

Hi Jay, arghhhh - nothing worse than biting bullets 😆. I do sympathise with you and I too have been in this position as well, so you are not alone. GT Pro is a great bike, a keeper maybe 👍. Shinny side up Jay 👍

That’s totally normal and expected. Check out the advice given underneath.

20% will be VAT as soon as you leave the forecourt

Those suggesting there was a hit of 20% for VAT, it wasn't a brand new bike. In theory, the bike should have been at least 20% cheaper as it was second hand, but that's not how dealers work.

Being the GT model likely harder for a dealer to shift likewise 4k is average per annum so it’s a high miler accessories not worth anything to dealers albeit may make it more desirable to potential buyers. To be honest it’s not a bad offer in current climate.

Should have bought a Honda NC 750X second hand for 4k kept it for a year and sold it for 4K. You want you bonce feeling.Great video none the less.

@bankruptpensioner

4 ай бұрын

completely on your side Paul, I did the same with the BSA for 4999. when it sells in April, i am sure i will get something very near to 4999 👍 and thanks for the vid compliment ❤

Yep, motor vehicle dealers will always do that- I bought my 2018 Tiger 800 XRx in August last year for £7500. Put 1500 miles on it over 5 months, and was offered just £5500 by the same dealer as a trade-in (after riding a Tiger 1200 Rally Pro and not wanting to get off it). A month or so later, was offered £6000 by another dealer, so pays to shop around. Better yet, buy the outgoing model when the new ones come out- the very same Tiger 1200 Rally Pro that I rode went down from just over £18k to £14k when the 2024 model was introduced! Same is happening to the 2023 900 range now the 2024 models are out...

Sounds right. Dealers, seem to want £2000 mark up to cover profit, costs, warranty. They'll probably retail it at £10,000. Nothing ever changes. I've only ever had one new. bIke and car. Lose a fortune on them. Tend to keep both now. Had my present bike 18 years and car 7 years. Next bike will probably be a, couple of years old.

@bankruptpensioner

4 ай бұрын

Good point

What is the complaint? Have you just worked out that new vehicles depreciate extensively? Maybe that's why you're bankrupt 🙂

Most of the depreciation is when you drive it out of the showroom particularly in the first year,had my fill of ridiculous loss on a new vehicle.

@bankruptpensioner

4 ай бұрын

Hi Gerry, you are absolutely right on this one 👍

Trade ins on nearly new bikes are brutal. The only way to beat the system is keep the bike, then it almost doesn’t matter what we pay. Personally I blame PCP’s, that finance model has allowed the manufacturers to hike new retail prices way too high. Trouble is when they need to shift end of season stock they discount heavily and you can find yourself in negative equity.

Versys 650 2023 paid $13800 on the road Aussie dollar , offered max $8000 on a Transalp $15000 ride away . Versys 6000 km ….not a scratch ….have decided to keep Versys 650.

@bankruptpensioner

4 ай бұрын

Hey Am, that's a good decision 👍

Still riding my Enfield 22 years

@bankruptpensioner

4 ай бұрын

Rodders, that's the way to do it 👍

Why only keep your bike for 1 year? I have just traded in my gt pro after 3 years of ownership and got a good price. Maybe the gt version is less desirable than the pro. Ps, I am buying another 900 gt pro, they are amazing bikes!

This is totally predictable…sorry I can’t see why you are surprised

@bankruptpensioner

4 ай бұрын

Hi Hector, you are right, and from my perspective, this was going to happen. No major surprise. But for those who are less aware of what happens, this may help them think again.....maybe 👍

@hectorshouse7348

4 ай бұрын

@@bankruptpensioner oh I see…well it turns out you bought the bike at a good price, so you didn’t lose too much…that was smart😀👍

@bankruptpensioner

4 ай бұрын

@@hectorshouse7348 I would never have paid the full price 😆, she at home would have boiled me in the kitchen sink 😆

@hectorshouse7348

4 ай бұрын

@@bankruptpensioner haha…getting bikes past people isn’t always easy, I’m having that issue with my eldest son, I’m wanting a Triumph 400 speed after not riding for 20 years, he thinks I’ll kill myself. This is the first time I’ve come up against opposition of this kind…it’s stronger than I thought, so I’m asking myself if I’m being selfish. It’s unresolved, we’ll see. Go steady matey😃👍

@bankruptpensioner

4 ай бұрын

@@hectorshouse7348 Go get the bike!!! And whilst you are at it, get the eldest to get one too. You can then go out together and have a great time. Argue your case! I have the same issue but my get out clause is 'I am closer to death than to birth, I want to live a little bit' 😆

Yes but in another 4 or 5 years you'll likely still get close to that figure. Buying new and selling quickly is a stupid financial decision. I've just sold a 12 year old bike I bought new and still achieved a third of the cost when new only losing about 5 grand in 12 years.

@bankruptpensioner

4 ай бұрын

Hi Ron, you are right 👍. Let's put a bit of inflation in the 5k - let's do the worst and push it up to 6k total loss. That means the joy the bike has brought you over the 12 years has cost you some £41 a month. That's good value 👍. My ex cost me much more that £41 a month and she brought no value 😆

@Teuchteronabike

4 ай бұрын

@bankruptpensioner 😀 That's funny however I do feel your pain

Man Richard; you opened a hornet's nest with this video! I've never seen nearly this many people commenting back to you from your other videos. Usually you get 2-4 comments. So we need to bust out the Champagne. Ha-Ha Cheers!! Illinois, USA

@bankruptpensioner

4 ай бұрын

Larry, something has changed. Something!!! So, over the past 24 hours, I have achieved 1500 subs. I assume that the algorithm in KZread has changed having hit this 1500 milestone/threshold. This one is going wild with some 79 thumbs up, it's the most performant video of all. I have a couple more videos scheduled over the next week and would be good to see what happens to those. Keep and eye out and still wanting to come over to the US with the Gold Star 👍

@larrywade9041

4 ай бұрын

Yea dude- you can thank this good ole yank for picking up the slack & pulling the 20 mule team forward!! (lol) Cheers!!@@bankruptpensioner

@bankruptpensioner

4 ай бұрын

@@larrywade9041 I definitely owe you one or two for this Larry 😆

@larrywade9041

4 ай бұрын

I'll have your room & meal's awaiting your arrival here! Got all the booze you can drink too!! Cheers!! Illinois, USA@@bankruptpensioner

@bankruptpensioner

4 ай бұрын

@@larrywade9041 I hope this comes off Larry 👍😆

Interesting 🤔 I bought a gt pro in 2020 fitted engine bars , light rack. It cost me £14500 I also sold my bike back after 8 months and got £10,000 traders have to make money I’m afraid 😱 . Don’t buy from new 👍 and keep it as the depreciation will slow dramatically👍

I never understand why anyone would buy a new bike unless your on a pcp.

@bankruptpensioner

4 ай бұрын

Hi Peter, only if it is a keeper, of which my Tiger is. I should be keeping this for hopefully some 10 years (unless I kick the bucket before that 😆)

@wl660

4 ай бұрын

@peter236uk1. I had loads of money, could afford it, so paid cash for a new bike with all the extras. It’s great having new, taking pride in knowing how it was run in and looked after ….I hate the “never never” PCP - it’s a con to make a £10k bike cost £12k to people who couldn’t afford to buy it and then have to repeat that mistake 2 or 3 years later. Save up, pay cash. Be debt free.

For myself three reasons why I would not purchase a new Triumph motorcycle: 1. Expensive new 2. Extortionate servicing costs 3. Depreciation

a cardiff dealer offered me 5.5 k pounds,on a z 900 2 years old ,7000 miles for a new tiger 900. two years later ,bike now 4 years old and 14.5k miles a different dealer offered me 5.8 k pounds for a new tiger 900 !!!!!!!

You sound surprised ?

Most dealers work on the principle of 3000 mls per year I think your wrong with 4000 mls per year. But if you go look at a bike with 8000 mls they describe it as low milage this is not a surprise at all. Also what were you saying you wanted to trade too.

@bankruptpensioner

4 ай бұрын

Thats Interesting Paul, 3000 rather that 4000. I was looking at a 32k Goldwing at the time. NOT that I can afford one - I cannot !!!! And would not want to take it out for a test ride :)

@paulgibson490

4 ай бұрын

@bankruptpensioner Why I said that was I traded a 3 year old 9000 mile tiger 955 for a 2 year old honda pan with 8000 miles while haggling they pointed out mine was high mileage while there's was low mileage. I couldn't get it through to them they were wrong but as I wanted rid of the triumph I took the pan anyway.

Greedy Barstewards, haven't had a new bike since 1976(CB200) , will be looking for a 2nd hand Hunter, later in the year.

Thanks Richard, it's shocking to see the rate of depreciation especially for new products. The video was very informative and and eye opener!

@bankruptpensioner

4 ай бұрын

Oh yes, keep the bike for years, thats my recommendation 👍

For this reason I never buy new cars or bikes. I always buy a good condition few year old vehicle.

Your mileage is even high…why are you shocked?

Paying £12.5k for a new bike, over £2k of that was VAT you paid to the Government. The dealer never saw that money. Its a mug's game to change bikes every year.

@bankruptpensioner

4 ай бұрын

thanks for the comment Simon 👍

The trick is to keep the bike for a few years 😂

Well there is a moral to this story is there not ???? It's called RIPPOFF!!!

@bankruptpensioner

4 ай бұрын

It is Allan, thanks for the comment 👍

Also don’t buy on finance right now you will loose even more money 😊

What about the V A T you NEVER ALLOWED FOR THAT

@bankruptpensioner

4 ай бұрын

Hi Anthony, VAT in the UK is a crazy thing. When it comes to vehicles, sold through a dealer, they have to add the VAT on whatever they sell, be these new or second hand. So, the government get VAT multiple times over the same product. No idea how we, in the UK, allow this to happen. Hence the second hand price (RRP+VAT minus depreciation) can be more expensive that the original RRP of a new bike (not including the VAT) which sounds really bizarre. So, I did not bother with the VAT element. Hope this makes sense. We in the UK are one of the few countries that adopt this model - crazy.

You always lose sales tax, freight, setup and registration on new any new bikes and some of those costs on used bikes depending on the dealer. Also the trade in price lowers the tax you pay on a new bike. Most dealerships have to go through your trade and sometimes have to replace expendables as well their labor cost. As you say the biggest hit is in the first year regardless of brands. I always figure tne value on useful accessories not farkles is about 40% of cost. Growing up my Dad use to trade in his car for a new one every year and I thought there goes my college fund.😁😁

@bankruptpensioner

4 ай бұрын

Hi FlatCap. Bloody parents, they are so inconsiderate 😆. Yes, all the money is lost in year 1 - same as marriage really 😆

If you really want depreciation, buy a new harley davidson pan america 😂.

@bankruptpensioner

4 ай бұрын

arghhh....... now thats funny :)