A-Z of Jargon

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.

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.

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.