APR: Annual Percentage Rate. One way of comparing the various finance deals on offer, it includes all the interest and charges. Don't always take the finance a dealer offers you may get a better rate at a Bank or Building Society.
Banker's draft: The next best thing to cash, a bankers draft is drawn from cleared funds, made payable to a third party and guaranteed by the Bank. This method of payment is much more acceptable and secure than a personal cheque.
Book price: Dealers may often refer to the 'Book' price in a deal. They are referring to the CAP Green Book, a confidential, industry-only guide to secondhand bikes; what price to sell and buy for.
Classifieds: Privately advertised bikes. One of the easiest and best places to buy and sell, cheaper than a dealer's showroom but you buy at your own risk. Advertise and search for bikes free
Dealer margin: The difference between what a dealer pays for a bike and sells it for, somewhere in between is your scope for a discount.
Depreciation: Your bike's loss over a period of time. New bikes take the biggest loss in the first year, up to 40% of their original value, only Harley;s and some BMWs show any resistance to the price slide, which makes for privately-bought one year old bikes a good investment, providing you pick from the right owner. Any bike you buy new that may slump in value, which will hit you hard if you have bought on finance and want to sell it.
Extras: Useful bargaining tools in a private deal, useless at the dealer's when trading in. Dealers like standard bikes and will only pay a fraction of the value of your extras against another bike. You will be better off selling them separate and making the bike as standard as possible.
FSH: Full Service History. Check the stamps and dates carefully to make sure the servicing is genuine, call the garage to check. A bike with FSH is much more desirable than one without.
HP: Hire Purchase, finance spread over a long period of time. The bike is only owned by you when the final payment has been made.
Logbook: Also known as the V5, the logbook is the official record of the registered keeper, not necessarily the owner of the bike. Off-road bikes don't tend to have one but don't buy a bike without it.
MOT: The Ministry of Transport test is a compulsory annual inspection on machines over three years old. It is a basic check that cover's a bike's roadworthiness, but shouldn't be taken as a guarantee of good condition.
Part exchange: Also know as P/X or part-ex. Off-setting the price of a new or secondhand bike from a dealer (usually) against the value of your existing bike.
Pre-reg: Pre-registration. When new bikes have number plates issued by dealers to alter sales statistics or other reasons. For example, dealers pre-registered thousands of Yamaha's Fazer 600 to avoid punitive emissions laws. Expect mint zero mile bikes, prices should be slightly lower than new.
Road Tax: Road fund licence - required for all bikes - see current fees
T&T: Taxed and Tested. The bike has some tax and MoT left to run.
Terms and Conditions: AKA the small print. If you have any sense you will read the small print, otherwise you may regret it later.
Total Loss : Damaged repairables are a pig to sell on, so unless you plan to keep the bike for a long time, or are prepared to accept less for it when you sell, they're best avoided.
V5 - the logbook is the official record of the registered keeper, not necessarily the owner of the bike. Off-road bikes don't tend to have one but don't buy a bike without it.
VGC: Very Good Condition
Warranty: Manufacturer warranties on new bikes are not necessarily invalidated by using non-franchised dealers, despite what you may be told. Unofficial add-ons may comprise the warranty, so check before you meddle.
Write-off: Damaged repairables are a pig to sell on, so unless you plan to keep the bike for a long time, or are prepared to accept less for it when you sell, they're best avoided.