On September 10th last year, McGraw Powersports hosted a webinar in partnership with Motorcycle & Powersports News (MPN) to have a conversation that largely revolved around the sale of pre-owned powersport products. The used vehicle marketplace offers immense opportunity to dealers, their customers, and service providers alike. Statistics measuring dealer registrations, inquiries, and number of unique buyers show that all facets of the pre-owned powersport industry trended up for 2018 and 2019. These figures were supported by the Motorcycle Industry Council (MIC) and Information Handling Services (HIS), both of which track the number of vehicle registrations annually to gauge how many new vehicles are purchased each year.
There are approximately 2.2 million registration transactions per year, with about 1.5-1.7 million pre-owned transactions occurring annually. The average dealership is doing about 1:1 new to used sales and registration numbers have been consistent, even through recessions. In fact, these numbers even tend to peak during recession years, supporting the idea that pre-owned vehicle sales can be a valuable opportunity to add to a dealer’s bottom line.
McGraw Powersports has seen this first-hand and has continued to offer products specifically geared towards pre-owned vehicles, like guaranteed asset protection (GAP) and 90-day certified used service contracts. We included information on our GAP program in last month’s featured article but wanted to tell you a bit more about our 90-day certified used program, which is a specialized service contract that is the perfect compliment to the purchase of any used street motorcycle.
There are two options to this coverage: the Basic program and the Advantage program. The Basic program applies to used street motorcycles that have 50,000 miles or less, are under 11 model years old, and has a deductible of $100. The Advantage program is for used street motorcycles with 25,000 miles or less, no older than 6 model years in age, and a $50 deductible. This program offers 90 days of additional coverage after the purchase of a used street motorcycle. It is that extra padding you need to ensure that your new purchase is protected.
Here is a detailed breakdown of our program options:
90 Day Advantage Plan
- 15 years or less on Honda, Yamaha, Suzuki, Kawasaki units with 25K miles or less
- 12 years or less on Harley with 50K miles or less
- 6 years or less on Euro and All Other makes with 25K miles or less
90 Day Basic Plan
- 15 years or less on Honda, Yamaha, Suzuki, Kawasaki units with 50K miles or less
- 12 years or less on Harley units with 75K miles or less
- 12 years or less on Euro and All Other makes with 50K miles or less
For more information about our 90-day certified used program, contact your Regional Sales Manager.