The Value of Used Motorcycles

Let's face it; the economy is in the toilet, jobs are tough to get and to keep, and its not getting better soon. A new bike may well be out of the question, but many people ride used motorcycles, and they can be the very best values out there. While often not as shiny as the latest and greatest out there, or quite as fast, they can still get you there quickly (if that is your goal) or with a great deal of reliability and fun. Many people don't put a lot of miles on a bike per year, and often they get used and then parked for long periods.
I have gotten some of my best motorcycles used. There are a lot of good points to a used bike. Of course at the top is the lower price.....you don't have to eat the depreciation. It can also be (if you are at all mechanically inclined) a good chance to learn to do much of the work yourself (with shop labor costs getting into the $70-75 an hour range I suggest that).
So what are good points in buying used? First, look the bike over well. Look for obvious signs of damage; dents, different colored parts, scrapes, etc. Look at oil color (has it been changed), cable wear and also the condition of brake pads and tires. Start the bike, and look for smoke from the tailpipe, leaks (also from the radiator if water cooled), and hopefully take a ride on the bike if you can. If possible, have a mechanic take a look at the bike; you will probably have a relationship with a bike shop and this is a good chance to start building one. A look by an expert eye is not a bad thing.
Remember that motorcycle parts can be amazingly expensive. However you can also save money on them via on-line auctions, e-bay and some of the on-line retailers of parts. Go used on parts whenever you can; the idea is to save money here. Do go with quality though.
One vital item is the factory service manual. This helps a great deal on a bike; if you are going to do the work, this is the book to have! Also check your brand on 0n-line sites, and also there are some motorcycle specific books to your "new" bike out there as well at on-line booksellers. Get the right tools and equipment to work on the bike; metric tools for Japanese bikes, standard for your Harley and Victory motorcycles.
As far as repairs to your used bike...even if just a year or two old I would suggest changing oil, anti-freeze, brake fluid, and lubing cables. If the bike is pretty high in mileage, and it has not been done (and does not have hydraulic lifters), a valve adjustment is a good idea.
Above all, if the tires are old, or worn DO NOT ride the bike with bad tires. Nothing in my opinion is more critical on a motorcycle, your safety depends on tires. If in doubt on their condition, replace them.
There are some great bikes out there. They might be a little bit older, but many brands do not change much from year to year. Some motorcycles have been in production for decades with only minor changes. Those can be some of the best values out there, with a wealth of information on them, used parts and also lots of riders and maintenance information. Watch out for long out of production bikes, expensive brands for parts (BMW, Ducati, and some other Italian bikes can be expensive when having work done, or getting parts), or long not produced bikes (such as older two cycle models) though in the latter case there are a lot of aftermarket suppliers that can get you running again.
With a little bit of money, and some elbow grease, it is possible to get a good reliable motorcycle at a fraction of the cost of new.