How much is a honda grom?

By HotBotUpdated: September 30, 2024

Answer

Introduction to the Honda Grom

The Honda Grom, also known as the Honda MSX125 in some markets, is a compact, lightweight motorcycle that has gained a cult following since its release in 2014. Known for its affordability, fun factor, and ease of use, the Grom appeals to both novice and experienced riders. But how much does owning one of these popular bikes actually cost? Let's break down the various factors that influence the price of a Honda Grom.

Manufacturer's Suggested Retail Price (MSRP)

The Manufacturer's Suggested Retail Price (MSRP) for a new Honda Grom varies depending on the model year and any additional features or updates. As of the most recent model year, the MSRP for a new Honda Grom typically starts around $3,399. However, this price can fluctuate based on dealer markups, location, and available incentives.

Price Variations by Model Year

Each model year of the Honda Grom usually brings slight modifications, which can affect the price:

Continue

- 2014-2015 Models: The initial release of the Grom saw prices starting around $2,999. These models are now available on the used market, often priced between $1,800 and $2,500 depending on condition and mileage.

- 2016-2018 Models: Updates in these years included improved suspension and new color options. Prices for these models when new were approximately $3,199, with used models now ranging from $2,000 to $2,800.

- 2019-2021 Models: Featuring more significant updates such as enhanced fuel injection and styling changes, these models had an MSRP of about $3,399. Used prices for these models typically range from $2,500 to $3,200.

- 2022-Present Models: The latest iterations come with further refinements and new technology, such as LED lighting and a revised engine. These models start at an MSRP of $3,399 to $3,599.

Additional Costs to Consider

While the base MSRP provides a starting point, there are several additional costs to consider:

- Dealer Fees: These can include destination charges, setup fees, and documentation fees, which can add anywhere from $200 to $600 to the purchase price.

- Taxes: Sales tax varies by state and can significantly affect the overall cost. For instance, in states with a 7% sales tax, you would add approximately $238 to a $3,399 purchase.

- Registration and Licensing: These fees can range from $50 to $200 depending on your location.

- Insurance: The cost of insuring a Honda Grom varies based on the rider's age, experience, and location but typically ranges between $100 and $300 annually.

Financing Options

For those not wishing to pay the full price upfront, financing options are available through both Honda and third-party lenders. Honda often offers promotional financing rates, which can be as low as 1.99% APR for qualified buyers. Monthly payments can range from $60 to $150 depending on the loan term and interest rate.

Used Market Considerations

The used market offers a range of prices for Honda Groms, influenced by factors such as mileage, condition, and modifications.

- Low-Mileage, Well-Maintained Bikes: These can command higher prices, often close to the original MSRP, especially if they have desirable modifications or are from recent model years.

- High-Mileage or Older Models: These are generally more affordable, with prices often dropping below $2,000. However, buyers should be cautious and thoroughly inspect the bike for wear and tear.

Customization and Modification Costs

One of the appealing aspects of the Honda Grom is its customizability. Many owners choose to modify their bikes, which can add to the overall cost:

- Performance Upgrades: These can include aftermarket exhaust systems, air filters, and engine tuning, often totaling $500 to $1,500.

- Aesthetic Modifications: Custom paint jobs, decals, and lighting can range from $100 to $800.

- Functional Add-ons: Items like upgraded seats, handlebars, and luggage racks can add another $200 to $600 to the cost.

Resale Value

The Honda Grom tends to retain its value well compared to other motorcycles, thanks to its popularity and reliability. On average, a well-maintained Grom can retain 70-80% of its value after the first year and around 60% after three years. This makes it a relatively low-risk investment for those considering resale in the future.

Geographical Price Differences

Prices for Honda Groms can vary significantly based on location. Urban areas with higher demand may see higher prices, both for new and used models. Conversely, rural areas might offer lower prices but could have fewer options available. Additionally, states with year-round riding weather, like California and Florida, often have a more competitive market, affecting both availability and pricing.

Seasonal Price Fluctuations

Motorcycle prices can also be influenced by the season. Spring and summer typically see higher demand, leading to higher prices. Conversely, fall and winter might offer better deals as dealerships look to clear out inventory. Timing your purchase can potentially save you hundreds of dollars.

Incentives and Discounts

Keep an eye out for manufacturer incentives and dealer discounts, especially around major holidays. Honda occasionally offers rebates or special financing deals. Dealers might also offer discounts on previous model years to make room for new inventory, providing an opportunity to save.

Understanding the cost of a Honda Grom involves considering various factors, from the base MSRP to additional fees, financing options, and the used market. By taking all these elements into account, you can make an informed decision that suits your budget and riding needs.