Capital City Cycles, a used-motorcycle dealership that primarily sells Harley-Davidsons, has seen increased activity in the used-powersports industry, Manager Brandon Collins told Powersports Finance.
“As more people ride, you get more types of buyers in the market and I think the used-motorcycle industry is taking off faster than it ever has,” Collins said.
Motorcycle sales were at a peak in 2008 before the recession saw sales take a dive. Sales have remained stagnant over the last few years, with numbers hovering around 500,000 units, according to Statista.
While new motorcycle sales have not reached that pre-recession figure, consumers who can’t afford new-model bikes may turn to the used-market, spurred in part by finance and leasing options.
“Let’s face it, not everyone can afford to go out a purchase a new motorcycle,” Collins said. “That’s where these lease programs [come into] the used industry, that’s where everything’s kind of taking into effect. People want to get a nice used motorcycle at a lesser price and much better finance options, whether it be lease or finance.”
Columbia, S.C.-based Capital City Cycles works with Speed Leasing as it’s leasing provider. The dealership originates at least 50 leases per month, with 70% of qualifying bikes going through Speed Leasing.