How Much is My Motorcycle Worth?
Motorcycles are wings you use to fly on the streets. But one day or another, the time comes when you have to give it up and put your motorcycle on sale. And that is the day you will ask yourself: “How much is my motorcycle worth?”
It will be tempting to keep your bike inside your garage for ages and convince yourself that you will ride it again one day. But the best thing to do is to put it up for sale right after you find out how much your motorcycle is worth.
In this blog, we will discuss all the factors considered while answering the question, “How much is my motorcycle worth?”
So read on and get all the information for getting the best valuation for your bike!
Valuing Your Motorcycle & Finding an Answer to “How Much is My Motorcycle Worth?”
There are numerous factors that come into play when getting your motorcycle valued. Now that you know that it’s time to let go of your motorcycle, it is essential to know what these factors are and to understand how they can affect the price of your beloved ride.
Let’s get started!
Make & Model
This is pretty obvious, but yes, the make and model of your motorcycle play a significant role in telling you how much your motorcycle is worth. This is because the resale price of your ride will be based on its current market value.
The lesser the price you paid for your bike when you bought it, the lower the amount it will fetch. Once new models are released, old motorcycle models begin to see a steep decline in price. If you are planning to sell your old bike, sell it before it becomes too dated.
Mileage
Mileage is among the most common factors affecting your motorcycle’s worth. The basic condition when talking about mileage is that the fewer miles you have clocked on your bike, the higher the price you will get. When valuing your bike, the best way to know its worth is to compare the average mileage of a similar motorcycle with a similar age.
Buyers always consider the mileage history before purchasing a motorcycle. It is important to note that a bike in good condition with full-service history and high mileage is more attractive than a bike with low mileage but no service history or poor condition.
Cosmetic Condition
Beauty may only be chrome-deep, but believe us when we say that the cosmetic condition of your motorcycle is a major determinant in finding out the worth of your ride. You can earn top dollar for your motorcycle if it has been looked after, waxed, and polished; the motorcycle will definitely appear more appealing to potential buyers.
If your motorcycle has cosmetic flaws that are too laborious or expensive to be fixed, then make sure that you list them when putting your ride up for sale. Simple things such as cleaning up your motorcycle or lubricating the chain can create a massive difference to the buyer and the offer price.
Compare the cost of repairing or replacing any exterior damage with the difference in worth if you decide to sell your bike today. If the repair costs add up to more than the motorcycle’s value, then you are probably better off declaring the issues to the buyers and letting them sort it out themselves.
Age
Age is a factor that you cannot change when selling your old ride and determining its worth. While it is true that older bikes will have a lower resale value, that applies only when older bikes have higher mileage. On this basis, newer bikes will definitely have a higher worth.
However, if you are the proud owner of a classic or vintage bike several years old, you might get a better price for it than for a newer bike.
Service History
Getting your motorcycle serviced regularly and being diligent about recording its service history can do so much more than just help your ride run better. It will also help increase its resale value.
A motorcycle with a complete service history will be in a much better position to demand a higher price than a motorcycle with no service history records. Keep hold of all your paperwork whenever you give your bike for servicing because it will definitely be worth it in the end.
Demand
To find the right answer to the question, “How much is my motorcycle worth?” you need to know the market demand for your ride. It is definitely worth spending a little time online to research what kinds of motorcycles are on sale. If you’re struggling to find similar models to your bike, there is a better chance that the demand will be higher, and it will fetch you a higher price.
Previous Owners
The worth of your motorcycle is also determined by how many owners it has had in the past. The more the number of owners, the lower the value of your ride. The owner logbook for the vehicle will give you the history of how many people have owned the bike previously.
Contact The Bike Buyers
One of the easiest ways to find an answer to “How much is my motorcycle worth?” is to get in touch with The Bike Buyers. You can simply complete their form and fill in your details to get a fair price. With no towing costs and free pick-up, you can receive cash in hand for your motorcycle on the same day when it gets picked up from any city in the US. Selling motorcycles has never been easier!
Takeaway
Using the above factors to determine your bike’s worth is your best bet. Take the time to do your market research and determine what your motorcycle is worth so you can get an idea of what price your ride can fetch you.
If you need quick cash for your motorcycle, you can always contact The Bike Buyers to get a quote. Call 877-751-8019 to get the best price for your used motorcycle today!
