The value of anything is only what anyone is willing to pay for it. Are footballers worth their wages? Of course not, but the market forces dictate that they can demand greater coin for their toil.
Now the market forces in the auto industry are somewhat relative but it is more to do with creating a demand and then supply that demand to the right amount to retain value in the product.
When I bought my 2017 Triumph Explorer XCa it was a popular bike. It I had not imagined it would be so popular and I also was not made aware that the following yeR the bike would be replaced by an updated variant.
So now bikes of this make are worth less than the finance still owes upon them. Yes that damned negative equity has raised its head again, which is only relevant of course if you intend to sell the bike, which is where I am at now.
I guess Triumph Explorer owners of this particular year have just been unlucky but the dealership assistance has also been less than reassuring too.
They were more than happy to take my money but the follow up servicing and dealing with issues has been less than satisfactory too.
So I’m torn between letting a bike go that has served me well but must do before I lose anymore money on it.
I’m sure the values will plateau and for riders looking for a good deal on a used bike, then the Explorer is superb and a buyer’s market will mean there will be bargains to be had.
I end my relationship with this Triumph now. I lick my wounds and move onto the next adventure but ever mindful that the loss of value over the last two years was too much and much more than I was sold too.
In my book, Triumph and the dealerships must do a lot more to protect their riders and give better after sales service too. If thy had, they may just have retained a loyal customer, well for this round at least.