Tag Archives: repo motorcycles

repo bike

What are the Benefits of Buying a Repossessed Motorcycle

Driving a motorcycle is a definite way to get an adrenaline rush and feel happy, especially on the freedom of an open road. Aside from this, motorcycles are appealing because they allow bikers to ride together for a sense of camaraderie. Every twist and turn makes for an exhilarating experience. No wonder why people are willing to take their motorcycles halfway across the country for exciting excursions!

On average, motorcycles range in price from $5,000 to $10,000, though some cost a lot more! You can save a lot of money by buying a used bike. But not just any used bike – a repossessed bike. 

What is a Repossessed Motorcycle? 

A repo motorcycle is one that has been taken from its previous owner because they did not keep up with their payments. Many people finance their motorcycles, especially if they’re spending more than $10,000. When they sign the paperwork, they’re agreeing to make the payments on time. If they don’t, the lender can take the motorcycle away. 

You’ll be happy to know that most of the repo motorcycles that RepoFinder lists are more expensive. When a bike only costs a few thousand dollars, most people will pay in cash. But for those that are $20,000 and over, people typically finance their purchase. If they can no longer afford the payments, it puts the bike at risk for being taken away. 

RepoFinder offers a directory of banks and lenders in all 50 states that have repo inventory for sale. Click on your state and see which lenders have repossessions available. They are highly motivated sellers that are often willing to negotiate. This is how you can get a great deal on a high-end motorcycle! 

What are the Benefits of Buying a Repo Motorcycle? 

There are many advantages to buying a repossessed bike: 

  • Trustworthy lenders. If you’ve looked at the used motorcycle market before, you probably know how difficult it is to find a trustworthy seller. Hidden defects and dishonesty are unfortunately common. But lenders are open and upfront. They might not know everything about the bike, but they won’t lie about things. 
  • Lower prices. Repossessed bikes typically cost a fraction of the price of a new motorcycle.
  • Easy financing. A huge perk to buying a repo motorcycle from a bank or credit union is that they also provide financing. You can also negotiate for a better price and lower monthly payments. 
  • Good condition. You can often find motorcycles in mint condition from repo sellers. They tend to be higher priced models and this is why the owner could no longer afford them. 

If you’re interested in repossessed motorcycles, visit RepoFinder.com. Click on your state, or a state near you, to browse the bikes available. Check back often, as lenders get motorcycles all the time, and we update our lists accordingly. 

motorcycle riding

6 Tips for Buying Your First Used Motorcycle

Whether you’ve made up your mind about buying a motorcycle, or you’re still on the fence about it, there are important things you’ll want to consider. Purchasing your first motorcycle should be an exciting adventure – not a stressful one. But because it’s a big purchase, it’s normal to feel a bit overwhelmed.

Fortunately, there are ways to reduce stress, enjoy the experience and walk away with the bike you’ve been dreaming of. Below are six tips for buying your first motorcycle. 

1. Take a Motorcycle Safety Class

Before buying your first bike, it’s recommended to complete a Motorcycle Safety Foundation (MSF) course. In fact, most states require riders to take an approved motorcycle safety course before getting their license or permit. These courses are typically free and open to anyone 16 years of age and older. 

2. Consider Motorcycle Insurance 

Just as when you bought your first car, you’ll need to consider the additional costs of becoming a motorcycle owner. Most states require motorcycle insurance, which will protect you if you’re responsible for causing personal injuries or property damage. It can also provide coverage for your bike. Riders typically pay between $60 and $75 a month, though premiums can be much higher. 

3. Find a Bike that Fits You 

There are many different types of motorcycles available such as standard, cruiser, touring, sports, off-road and dual purpose. In addition to the various types of bikes, there are also many features that you can pick from like an adjustable seat, adjustable steering wheel, hazard lights, rear lift prevention and more. 

Learn about the different types of bikes and their features so that you can make an informed decision. For example, sports bikes are ideal for riding at high speeds, while cruisers are good for long trips. Some of the best motorcycle brands for beginner rides are Yamaha, Suzuki, Kawasaki, Triumph and Honda. 

4. Avoid Going Overboard on Power 

The average bike has more power than a lot of experienced riders need, so you don’t have to go overboard. Experts recommend sticking to the 500cc-and-under class or small-to-medium displacement bikes. If you really like motorcycle riding and want to move up, you can then trade your motorcycle in. But chances are, you won’t need that much power. 

5. Seat Height and Bike Weight 

As a new rider purchasing your first bike, you’ll want to pay attention to the seat height and bike weight. You’ll be most comfortable being able to plant both feet on the ground, especially if the bike is heavy. The weight of a bike typically goes with its displacement, though that’s not the case for every bike. Try to choose a weight that you’re comfortable handling. 

6. Shop Around for the Best Deals 

There are many places where you can buy a motorcycle – a dealership, private seller or repo seller. There are pros and cons to each. RepoFinder offers a huge list of repossessed motorcycles that you can browse through. These bikes have been repossessed from their previous owners and are now available for purchase.

The benefit in buying a repo motorcycle is that you get to enjoy significant savings. This is great for new riders, as you may not be sure whether you really want to invest that much into riding just yet. An inexpensive repo will allow you to get your feet wet. Find a motorcycle that meets your needs and budget on RepoFinder! 

 

repo motorcycle

Why February is the Best Time to Buy a Motorcycle

Are you thinking about buying a motorcycle in time for spring? February is the best month to buy a motorcycle! Regardless of whether you’re buying a new, used or repo bike, the signs point to making this purchase in February. And, we have to agree! At RepoFinder.com, we’re already seeing a great selection of motorcycles that were repossessed over the winter and are ready for a new owner. 

Below are the reasons why February is the best time to buy a new bike. 

February is a Short Month 

For starters, February is a short month at just 28 days. Motorcycle salesmen have quotas to reach, and they’re working with several less days compared to other months. This means they’re more motivated to cut a deal and sell you the bike you want. Not all sales commissions are structured in the same way, but it’s something to think about if you plan on buying from a dealership. 

It’s Not Good Riding Weather 

It’s still winter in February, and for many parts of the country, this means snow, ice and frigid temperatures. Definitely not the type of weather you want to be riding a motorcycle in! Because of this, motorcycle prices are often lower in the winter because people aren’t thinking about buying them. Previous-year models take some of the biggest price slashes as they don’t look as appealing during a short, cold month. 

Bikes are Defaulted on in the Winter

The winter months are tough on many people. It costs money to heat the home, pay for snow removal, purchase holiday gifts, attend holiday parties, etc. To top things off, some people work less in the winter (i.e., general contractors, roofers, landscapers). 

With money being tight and other expenses increasing, a motorcycle used for recreation is often one of the first things to go. The weather isn’t nice, so people aren’t taking their bikes out. By the time the bike is repoed and listed for sale on RepoFinder.com, it’s around February. 

Tax Returns are Coming 

The IRS gives employers until January 31st of each year to send out their W-2 forms so workers can file their tax returns. Once people have their returns, they can file their taxes and wait for their refund, which is often deposited straight into their bank account. With some extra cash on hand, some people are motivated to buy a new car or motorcycle. Spring is just around the corner and the extra cash makes it easier to cover a down payment or taxes and registration fees. 

Shop for Repo Bikes Today

At RepoFinder.com, it’s always a good time to buy a motorcycle! We have a great selection of previously owned vehicles that are being sold by banks, lenders and credit unions. Check them out today and find an affordably priced repo motorcycle in great condition! 

repo motorcycles for sale at banks

Repo Motorcycles For Sale

Buying Repo Motorcycles

Owning a motorcycle is exciting whether you ride for fun, for commuting, or for adventure, it’s a special kind of freedom. But motorcycles can be pricey, especially when buying from a dealer. That’s why buying repo motorcycles is a smart way to save money and still get the ride you want.

Benefits of Buying Direct

Many people don’t realize you can buy used motorcycles directly from banks and credit unions, often for much less than dealer prices. Even better, you don’t have to deal with a middleman or a sales commission!

Start Searching Local Repo Sales From the List Below:

What Is a Bank-Owned Motorcycle?

A bank-owned motorcycle is a bike that a bank or credit union repossessed (or “repo’d”) after the owner couldn’t keep up with their loan payments.
When that happens, the bank takes the bike back and puts it up for sale to recover their money. Because they don’t want to hold the repo for long you can usually get a better deal.

Banks and credit unions don’t want to keep motorcycles. In addition, they aren’t motorcycle dealers! That’s why they usually sell these repossessed bikes at discounted prices, giving buyers a chance to score a great deal.

Why Buy a Bank-Owned Motorcycle?

Here are some great reasons to consider buying a repossessed motorcycle:

  • Lower Prices: Banks often list motorcycles below market value to sell them fast.

  • No Dealer Fees: You avoid the extra markups and hidden charges dealers add.

  • Less Competition: Not everyone knows how to buy directly from banks, however you have better chances to find a deal.

Buying a bank-owned bike can make motorcycle ownership much more affordable!

How to Find Bank-Owned Motorcycles

The best place to start is RepoFinder.com.
Here’s why:

  • It’s completely free — no fees, no memberships.

  • Nationwide listings — banks and credit unions all across the U.S.

  • Direct access — you contact the bank or auction directly.

  • Easy searching — you can browse by state or by type of vehicle.

Tip: New motorcycles are added often, so keep checking RepoFinder.com for fresh listings!

Popular Motorcycle Brands You Might Find

When looking at bank-owned motorcycles, you could come across these popular brands:

  • Harley-Davidson – Legendary American cruisers and touring bikes.

  • Honda – Reliable and great for beginners and pros alike.

  • Yamaha – Known for sport bikes, cruisers, and off-road models.

  • Kawasaki – Popular for sporty rides and powerful engines.

  • Suzuki – A great choice for both street and off-road adventures.

You might find bikes that are almost brand new or others that could use a little fixing up. In addition, the prices are usually much better than buying from a dealership.

How the Buying Process Works

Here’s a simple, step-by-step guide to buying a bank-owned motorcycle:

1. Search for Listings

Go to RepoFinder.com and browse available motorcycles in your area or across the country. Furthermore you should look carefully at the pictures and read all the details.

2. Contact the Bank or Seller

Each listing will tell you how to contact the bank, credit union, or auction that is selling the motorcycle. Because of this you’ll need to make sure you read all the terms.
For this reason, some bikes are sold directly by the bank, while others, in contrast, go through online or live auctions.

3. Inspect the Motorcycle

If you can, check out the motorcycle in person before buying. In summary, look for:

  • Tire condition

  • Brake and clutch function

  • Engine performance

  • Body damage or rust

  • Electronics like lights and gauges

Tip: If you’re not sure what to look for, above all, bring a trusted mechanic or motorcycle expert with you.

4. Make an Offer or Place a Bid on a Repo Motorcycle

Depending on the listing, you’ll either:

  • Make an offer directly to the bank
    or

  • Bid in an online or in-person auction.

Banks usually move quickly when they get a fair offer.

5. Complete the Sale

Once your offer is accepted or you win the auction, you’ll sign the papers, make your payment, and ride away on your new motorcycle!

Common Questions

Q: Are bank-owned motorcycles usually in good condition?
A: Many are! However, some were well taken care of by owners who just couldn’t keep up with payments. Still, it’s smart to inspect the bike before buying.

Q: Can I finance a repossessed motorcycle?
A: Sometimes! Some banks offer financing for their repossessed bikes, additionally you can get a loan through your own bank or credit union.

Q: Do bank-owned motorcycles come with warranties?
A: Most bikes are sold “as-is,” in summary, means you are responsible for any repairs after you buy it.

Q: Do I need a dealer license to buy from a bank?
A: No! Bank repos are usually available to the public. In addition, no special license is needed.

Final Tips for Smart Repo Motorcycle Shopping

  • Take your time: Don’t rush. In summary and above all, find the right bike for you.

  • Do your research: Look up the model’s value and any common problems.

  • Move quickly: Good deals can get snapped up fast! Also, you don’t want to hesitate if you see a good deal.

  • Use RepoFinder.com: It’s the easiest and free way to connect with banks and credit unions selling motorcycles.

Buying a bank-owned motorcycle can save you a lot of money, furthermore it can help you find the ride of your dreams at a price you can afford.

Ready to find your next motorcycle at an amazing price?
Visit RepoFinder.com today and start browsing free nationwide listings of bank-owned and credit union repossessed motorcycles! In addition, make sure to check back often.