Is this used bike a good deal?
08-01-07, 10:53 AM
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Is this used bike a good deal?
There is an eight-year-old woman's Trek 7300 advertised in my area for $250. It has accessories included such as an odometer, rear rack, headlight, tail light, and a bike rack. The owner says it has had yearly maintenance performed such as tune-ups. This bike is for a friend who wants this type of bike, a hybrid for doing a variety of rides. Is this a good deal for a used 7300 with these accessories? A new Trek 7300 is $429 at my local bike store (plus accessories).
08-01-07, 11:23 AM
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Take the bike and the prospective new owner to a bike shop. Have them verify that the bike is the correct size and get a written estimate for getting the bike into perfect riding condition, including the shifting, the braking and a wheel truing. Subtract the cost of reconditioning from $250, and the difference would be a reasonable price to pay for the bike.
The original owner might be unhappy if the reconditioning estimate is $100, and you then offer $150 for the bike. But, when you look at the price the five and ten year old bikes are selling for at pawnshops, Goodwill, Salvation Army, yardsales, Craigslist, etc., it is clear that an older bike in less than "like new" condition sells for far less than the original retail price.
The original owner might be unhappy if the reconditioning estimate is $100, and you then offer $150 for the bike. But, when you look at the price the five and ten year old bikes are selling for at pawnshops, Goodwill, Salvation Army, yardsales, Craigslist, etc., it is clear that an older bike in less than "like new" condition sells for far less than the original retail price.
08-01-07, 12:00 PM
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Alan,
I get your point, though it probably won't be practical to take the bike to a bike shop. I've done that type of thing with used cars, getting them checked out by a mechanic before buying it. It that common practice when buying used bikes? One issue is that we live about 45 minutes away from the seller.
I gave my friend similar advise about the value of used bikes. I think that $150 to $200 would be a more reasonable price for the used 7300, depending on the bike's condition and the quality of the accessories that are included. But I'm not really up-to-date on buying and selling used bikes. (I just bought a new Electra Townie, which is nice).
A new 7300 is likely beyond my friend's budget. However, I'd hate to see her buy some cheaper quality new bike that won't hold up. I almost bought a new Trek 7300 myself, before settling on the Electra, so I do think they are good bikes.
-Ted
I get your point, though it probably won't be practical to take the bike to a bike shop. I've done that type of thing with used cars, getting them checked out by a mechanic before buying it. It that common practice when buying used bikes? One issue is that we live about 45 minutes away from the seller.
I gave my friend similar advise about the value of used bikes. I think that $150 to $200 would be a more reasonable price for the used 7300, depending on the bike's condition and the quality of the accessories that are included. But I'm not really up-to-date on buying and selling used bikes. (I just bought a new Electra Townie, which is nice).
A new 7300 is likely beyond my friend's budget. However, I'd hate to see her buy some cheaper quality new bike that won't hold up. I almost bought a new Trek 7300 myself, before settling on the Electra, so I do think they are good bikes.
-Ted
08-01-07, 06:55 PM
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Even with the accessories (which could be varying levels in quality) it's 8 years old. Definitely don't pay more than half of it's original msrp. I'd say 150 is more like it, unless it's been rarely ridden.
08-02-07, 07:46 AM
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Actually, the MSRP for the 1999 (and 2007) Trek 7300 is $469.99. (My local Bike Doctor is selling the 2007for $429). Does this change the thinking here?
