I bought my 2012 Classic 500 seven years ago, and owning one feels like riding a piece of history. But buying used can be a gamble. I’ve dodged oil leaks, dealt with rusty bolts, and learned why service records matter. Let’s ensure your Bullet 500 story starts smoothly.

1: Mileage Isn’t Just a Number—It’s a Warning Label

When I first saw my Bullet 500 listed online, the ad screamed “low mileage!” (8,000 miles!). But mileage matters less than how it was ridden. A 30,000-mile bike with regular oil changes can outlast a neglected 10,000-mile garage queen.

  • Under 10k miles: Sweet spot! My Bullet had fresh tires and a clean chain. But I still checked for dry rot in the tires—common in bikes that sit too long.
  • Over 30k miles: Not a dealbreaker. Forum riders brag about hitting 100k miles, but only if the owner kept up with valve adjustments and oil changes (more on that later).

2: Service Records—The Paper Trail That’s Worth Gold

I almost bought a “pristine” 2010 Bullet 500 until I asked for service records. Crickets. Turns out, the owner skipped oil changes for two years. No records? Walk away.

  • Good records: Look for oil changes every 3,000 miles, chain adjustments, and valve checks. My bike’s manual saved me—it outlined every service interval.
  • Sketchy repairs: One seller claimed the engine was “rebuilt,” but the receipts just said “spark plug replaced.” Askfor details.

Pro tip: Call the shop that serviced the bike. I did this once—turns out the “rebuilt engine” was just a new air filter.

3: The Engine—Where the Magic (and Mayhem) Happens

Pop the seat off, and let’s get dirty.

  • Oil leaks: My Bullet had a tiny drip near the cylinder head. Not a crisis, but a red flag if it’s pooling. Check the oil level using the sight glass (bike upright, engine warm).
  • Primary chain tension: Too loose? You’ll hear a clunk when shifting. YouTube taught me to check it through the inspection hole—1/4 inch of play is perfect.

Red flags: Knocking noises = run. Excessive vibrations? Could be worn engine mounts (a $200 fix).

4: Rust—The Silent Killer

My Bullet’s chrome mirrors were flawless… until I looked under the fender. Rust loves hidden spots:

  • Fuel tank: Tap the underside—hollow sounds mean corrosion. Mine had a penny-sized rust spot I fixed with a sealant kit.
  • Exhaust: Surface rust? Normal. Flaky holes? $250 for a new pipe.
  • Forks: Rust above the seals? Cosmetic. Below? Fork oil leaks ahead.

Pro tip: Bring a flashlight. I missed a rusted rear fender bolt once—snapped during a tire change.

5: Mods—Cool or Catastrophic?

That “custom” Bullet with ape hangers and a leopard-print seat? Think twice.

  • Good mods: Sump guards (saved my engine from a pothole), upgraded shocks (better for touring).
  • Bad mods: Cheap exhausts that crack, DIY electrical “upgrades” that fry the regulator.

Impact on value: My buddy added vintage leather bags—sold his Bullet for 1k extra. Another hacked the wiring harness and got 500 less.

6: The Test Ride—Listen to the Bike

I’ll never forget the test ride where the Bullet 500 stalled at every stoplight. Turns out, the idle screw was loose. Here’s what to test:

  • Startup: Cold engines are fussy. If it takes 5 kicks to start, walk away.
  • Vibrations: Some shake is normal. But if your hands go numb at 50 mph? Engine mounts or wheel balance issues.
  • Brakes: Drum brakes on older models fade fast. My first ride ended with a gentle nudge into a bush.

Pro tip: Test it on a hill. Clutch slipping? Could mean a worn transmission.

7: Negotiate Like a Pro

Found the one? Time to talk money.

  • Use your findings: “The fork seals are leaking, and the tires are from 2015…” = bargaining power.
  • Market rates: Check Cycle Trader. In 2025, a clean 2012 Bullet 500 sells for $3,000–$4,500.
  • Walk away: My rule? If the seller won’t budge on a bike with rusty forks, let it go.

Final Thoughts

Buying a used Bullet 500 isn’t just a purchase—it’s a relationship. Mine’s taken me cross-country, broken down twice, and still makes me grin. Do the homework, and you’ll find a bike that’s worth the quirks.