Owning a motorcycle is a thrilling experience. Not only do motorcycles provide daily entertainment, but they are also relatively cost-effective. Motorcycles get outstanding gas mileage, especially when cruising on the highway. Motorcycles also have inexpensive maintenance costs compared to cars allowing riders to fix their motorcycles on their own without having to contact a certified technician.
In the beginning, riders often find themselves riding their motorcycles a lot, from weekend trips to everyday commuting. However, as time goes on, people tend to find themselves busier and busier, thus taking time away from riding. When this happens, some riders may wonder to themselves if it is worth selling a motorcycle versus keeping it. Should they choose to sell their motorcycle, the next question is whether to sell as a private party or through a dealership.
There are advantages to both approaches. The following is a list of details of how each type of sale is beneficial.
Selling Motorcycles Through a Dealership
Safety. Selling a motorcycle through a dealership is much easier when it comes to the transaction process. Although some motorcyclists may lose a bit of money and time when they choose to sell their motorcycle to a used dealership, they can rest assured that a transaction made with a dealership will be safe regardless of the form of tender offered.
Quick. For those who need cash quickly, selling the motorcycle to a used motorcycle dealership is the way to go. A dealership helps sellers to avoid having to advertise, negotiate with buyers, and provides money immediately.
Selling Motorcycles as a Private Party
Exposure. When selling a motorcycle as a private party, one of the best ways to do so is by listing it for sale on the internet. The amount of exposure the motorcycle will receive is astronomical compared to setting it outside with a “for sale” sign. Online also means one is not limited to a specific geographical area, helping to grow interested buyers.
Convenience. Listing a motorcycle for sale online is very convenient. It can be done from home comfort or anywhere there is internet access, including from a cellphone.
Money. Selling a motorcycle online is a great way to ensure that the seller gets their money’s worth. There are many reliable sources online that can help sellers determine their motorcycle’s value, ensuring it will sell for every penny it is worth.
Tips for Selling a Motorcycle
One who has been thinking about selling their motorcycle can do a few things to prepare. The following are a few tips that can help sellers conduct a smooth selling process.
Prepare the Motorcycle
- Verify the motorcycle starts. Sellers should make sure the motorcycle runs smoothly and is mechanically fit. One should consider having a mechanic look over the motorcycle to verify all parts are in working condition. Once done, sellers should keep the receipt as proof for potential buyers.
- Potential buyers may prefer the motorcycle left in its original form. Therefore, it is important for sellers who have added aftermarket parts to their motorcycle to replace them with stock parts if possible.
- Be sure to thoroughly clean and detail the motorcycle and take photos of it from different angles. Doing so will help potential buyers imagine what the motorcycle would look like if it were in their possession. It is also essential to make sure photos of the motorcycle’s mileage are taken along with any scratches or damages.
Determine the Worth of the Motorcycle
It is important to research what similar motorcycles have sold recently and use those numbers to settle how much to sell the motorcycle for in the area. Be sure to remember to be realistic. It is important to sell the motorcycle at a wholesale price; however, keep in mind that most buyers are not looking to pay a high asking price.
Obtain the Proper Documents
It is essential to have all the sale documentation ready to go, including:
- The title is the most important document as it serves as the official contract between the buyer and the seller.
- The VIN (Vehicle Identification Number). The VIN is located either below the handlebars or on the motor near the bottom of the cylinders. Many may also find this important number located on the motorcycle’s insurance card.
- Bill of Sale. If sold through a private party, depending on the state, a bill of sale may be necessary for registration and tax purposes. A bill of sale includes buyer and seller signatures, the motorcycle’s price, and any “sold as is” clauses if needed.
Include a Detailed Description
If selling the motorcycle online, the seller mustn’t short themselves on information regarding the motorcycle. Unfortunately, many sellers tend to forget key points, making it much harder to sell the motorcycle. Some of the key points include:
- How long the owner has had the motorcycle
- The title and registration status
- Any repairs made
- Any factory recalls needed or that have been performed recently
Be open to Test Rides
The buyer will want to know how well the motorcycle runs and most likely will request a test ride. If offering a test ride, it is vital to require collateral against the buyer while test driving the motorcycle. Collateral can include a form of ID, partial money for the motorcycle, or vehicle keys.
To Sell or Not to Sell?
Whether selling a motorcycle to upgrade or because it is time to downgrade or just toying with the idea, you must receive top dollar. Taking the time to ensure the process is done correctly increases the chances that the motorcycle will sell much quicker than anticipated. Advertising plays an essential role in selling the motorcycle, especially for those selling on their own. Those who choose the dealership route must choose a reputable dealer who will take the time to meet the seller’s needs.
Considering selling a motorcycle can feel overwhelming for many people. Fortunately, today’s digital world makes selling and purchasing a motorcycle easier than ever. Including all the details about the motorcycle in its description gives the best chance for finding it a new home.
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