Five Things To Consider Before You Buy Prepaid Maintenance On Your Motorcycle!
When purchasing your motorcycle from a motorcycle dealership, it is likely you will be offered a prepaid maintenance contract. This is especially true if you are getting motorcycle financing at the dealer since prepaid maintenance is normally offered through the motorcycle financing office at a motorcycle dealership.
Prepaid maintenance is essentially a contract that you enter into with the dealership and it typically provide coverage for all regular manufacturer recommended maintenance services listed in the owners manual (i.e. oil change very 3,000 miles, etc..). Deciding whether or not it is worth it for you to buy a prepaid maintenance contract depends on a variety of things. Here are 5 things that can help you decide if prepaid maintenance is worth the purchase:
First, you should highly consider what happens if you move away from the area the motorcycle dealer is located. Typically, most prepaid maintenance contracts are only good at the motorcycle dealer that it is purchased at, thus if you move a good distance away from the dealer it can be a big hassle to get the service on your motorcycle.
Second, you should determine if the prepaid maintenance contact is cancelable and refundable for unused benefits. Most prepaid maintenance contracts you pay for upfront and they can not be canceled. Therefore, most of the time once you purchase a prepaid maintenance contract there is no way to get your money back. It is highly important you are sure you can use prepaid maintenance before you purchase or finance your motorcycle. It is normally best to decide before you enter the motorcycle dealership so you do not make the wrong decision under pressure.
Third, is there overlap in coverage from the prepaid maintenance contract and your standard manufacturer warranty or an extended warranty you purchased? If the prepaid maintenance contract covers similar things to your manufacturer warranty with a few small services thrown in, it may not make sense for you to purchase the prepaid maintenance.
Fourth, how long does the prepaid maintenance contract last for? This is a good question to find out because if the contract only last 2 years it is possible you will not get the benefit during this short timeframe. Therefore, it will not be worth purchasing an expensive prepaid maintenance contract. On the other hand, if the contract is good for five or six year it may really be worth it if you plan on keeping your bike for the long-term.
Fifth, it is important to consider how long you are expected to own your motorcycle before purchasing prepaid maintenance and if the prepaid maintenance is transferable if you sell your motorcycle. If you pay for a 5 year prepaid maintenance contract, but only have your motorcycle for 2 years you may be wasting money if the prepaid maintenance is not transferable. If the prepaid maintenance is transferable you will want to decide if you think prepaid maintenance will add to the value of your motorcycle in the event you decide to sell it in the future.
Overall considering the above factors can be helpful in determining if prepaid maintenance is a wise investment with your motorcycle financing decision.
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