Maybe you’ve outgrown your old bike or have started your own family; whatever the reason be, the time has come to say goodbye to your old rider. If you’re selling a vehicle for the first time and don’t have any experience in the process, you’re probably feeling overwhelmed. As there goes a lot into selling something like a motorbike, we’ve prepared this guide to give you all the assistance you’ll need for selling it.
Most of the things you do to sell your bike depends on the price you can sell it for. Only after doing proper research can you set a realistic price for your vehicle. So, look at the price guide for blue books to get an idea. You may also use classifieds such as eBay and Craigslist; and online websites such as Cycle Crunch, Rumble on, and Auto Trader to find listings for bikes of your model.
Also, don’t hesitate to ask for the contact information and other relevant details of each listing. When the time comes to price your motorcycle, contact the sellers in your region. They will give you a fair idea about the popularity of your model in a particular area. Ask them the price and condition in which the bike was sold so that you can assume the selling price of your one.
After conducting thorough pricing research, take a look at your bike. Sure, you had a great time with it, but a prospective buyer will consider its exterior looks, not how it works. Ask yourself questions like Will these dents and scratches off-put a prospective buyer? Does it look aged and a bit scuffled?
Consider if you can fix the above issues before putting your vehicle on the block and how much you can factor into the asking price? The idea is to view your bike through the eyes of a third person who has no emotional attachment to it and who’d catch its flaws instantly. To make your bike look as good as new, get it custom painted or look for antique motorcycle parts for sale to replace the rusted ones.
Whatever you do, set a price that reflects its actual value.
Clean Your Vehicle
When looking at a second-hand bike, appearance is not the only thing that matters to a potential buyer, but it indeed is among the top three priorities. It is the reflection of the condition in which you’ve kept your vehicle and how you maintained it. A clean motorcycle attracts more buyers and brings a reasonable price with minimal haggling.
So, before you put your bike for sale, spend a weekend cleaning it. Take it apart and get into every nook and cranny to clean and polish – retouch the frame; touch the paint; change the oils; clean the spokes, wiring, and air filter. Maybe the minor scuff means nothing to you, but it sure means a lot for someone who is paying the price for it.
Worn-out parts of a vehicle bring down its price to a great extent. So, unless you want to cut the cost to compensate, replace the visibly worn parts. You can replace some simple items such as shift rubber, signal light, hand grip, sprocket, chain, and belt by yourself. Tune-up the engine if it’s a bit rough and tires if they look worn out.
Find Potential Buyers
You must have considered everything that you need to do right before putting your product for sale. But you forgot to view the essential thing, which is finding the potential buyers for it. Here are two easy ways through which you can locate prospective buyers for your motorbike:
Selling to a private party allows you to get the most out of your deal because the buyer doesn’t need to turn a profit off of buying your vehicle. While this kind of sale usually ensures the finest value for the seller, it demands more effort and trading put into it from your side. For instance, you may need to look at transport companies and get a motorbike transport quote to find a suitable service that can safely and securely transport the bike from you to the buyer.
As opposed to a private buyer, a dealership is designed to turn a profit. Under this method, you usually get less price for your goods, but the plus side is that you can get rid of your bike right away. It also offers the seller a smooth transaction procedure. It’s vital to note that while this method allows you to make the most out of your sale, it doesn’t mean that you’ll make the most out of your price. But you’ll surely experience a smooth and convenient transaction procedure.
Paperwork is undoubtedly the most tiring part of the sales procedure. Most of the sellers opt-out of selling when they find out how tedious the process is. But it’s not as bad as you think. Some documents that you will need to prepare for selling your motorbike includes:
- A title which is crucial for getting a license plate so that your vehicle can legally run on roads;
- Bill of Sale to legally transfer the ownership of the vehicle between you and the buyer;
- A VIN (Vehicle Identification Number) makes it convenient for future buyers to verify the year and model of your vehicle and get an insurance quote.
While the points mentioned above are crucial when selling a motorbike for the first time, the most important thing is to set your priorities. Ask yourself why am I selling my motorcycle? Do you want to make money or a quick sale because you’re going abroad? Or do you want someone who will take care of your vehicle just as you did because you can longer ride it?
Your answers to these questions will help you set your goals and decide everything further in the journey. We hope that you successfully sell your motorcycle!