Typically the bike industry releases new product information the end of the summer into the fall about the next year’s new product. It is about this time every year I am asked if it is worth waiting for the next year’s bike. I have 4 questions that I ask every customer to help them decide their outcome.
Is the new bike that MUCH better?
Sometimes the upgrades are small. The color is updated or the parts slightly change. Sometimes the upgrades are slightly bigger. For example in 2020, Bosch is releasing a new cargo specific motor that has a lot of people asking this question to me.
One more thought on this, the price increases each year so you really have to analyze if the bike is truly that much better.
How long do you have to wait for the next model?
If the new bike is available immediately this often makes the choice a bit harder. If the bike isn’t going to be available for months then I often ask the customer the next question...
Do you have a substitute to ride for now?
Most of my customers are looking at new cargo bikes. Do you already have a cargo bike? Would that cargo bike fit immediately in your life now or are you planning for a baby that isn’t born yet? Pretending that you don’t have a substitute, that leads me to the final question...
If you were to purchase the current model while waiting for the next best thing, how much money would you lose?
Let’s pretend you don’t have a substitute so you potentially could purchase a current model at $5k. All your accessories would move over and you wait 6 months for the new version of your bike. You sell your old bike and “lose” $1,000 after selling your first bike used. Your 6 month lease on the bike cost you $167 per month. Personally with my kids being so small (4 & 2), if I really had to have the newest model then the $167 per month would have been worth it to live the cargo bike life for 6 months earlier than waiting without a bike.
There is no right answer. For my specific cargo bike customer it really boils down to your budget, your needs, and how quickly you want a bike. Each person will result in a different end solution! As always feel free to contact me if I can help in anyway.
Until next time,