You can sell a motorcycle for top dollar if you are prepared in advance. For that, you must have prior knowledge about the market for used motorcycles. This will help to find potential buyers who are willing to give the right quote for your motorcycle. You don’t sell a motorcycle every day, and therefore, putting up some serious effort is not difficult. After all, you will be the one benefiting from the deal. Not only your garage will be cleaner, but you will also get instant cash which you can spend on buying a new motorcycle. For preparation, you will have to understand the process, do some online research, get your motorcycle valued and properly communicate with the buyers.
Process of selling a motorcycle
Getting your bike online always helps. You can reach out to a wider audience. And that too, in just a click. You have to make an online profile and put some description of your motorcycle. You can also add a few pictures. This way, the buyers will have a better idea about your motorcycle’s condition. Eventually, the interested ones will contact you with quotes.
Check the credibility of buyers
You need to be sure with whom you are dealing with. Rushing into the deal without any considerations is not recommended. As you don’t have any idea about the buyers, you can’t be confident enough whether they are genuine or not. As such, checking their credibility becomes a must. You can visit their website and read their description. You can also read client reviews which will help you in the assessment.
Negotiate with the buyers
Your patience is the key to get profitable deals. The buyers don’t accept your demands easily. You have to earn it through detailed conversations and negotiations. The buyers tend to bring down your selling price. You can therefore put your price slightly higher than your desired amount so that you get enough margin to play with.
Get your payment when you sell a motorcycle
Make sure that you receive complete payment before you hand over your motorcycle to the buyer. And the payment should be in cash. Many times, the buyers offer partial payment and promise to pay the remaining amount in installments. The owners, usually in a hurry, accept their demands. However, such buyers seldom show up in future leaving the owners frustrated.
Communicate with the insurance company
Your work is not on receiving the payment. You still have few liabilities. First, you have to inform your insurance company about the sale and ask them to stop your periodic premiums. Second, you have to contact your local department of a motor vehicle and get your license cancelled.
Tips to get the best value for your motorcycle
Clean your motorcycle
You can wash your motorcycle and apply some wax to add shine on the surface. This way, it will look presentable to the buyer. You can make a handmade polish at home as well.
Repair your motorcycle
Also, check for repairs. If they are minor, get them done by a professional mechanic. Though it will cost you a bit, it will help you earn your desired value. However, if the repair work is costly, then it’s better to sell the motorcycle in scrap.
Obtain relevant information
You must be aware of the market for used motorcycles. This way, you will be better prepared to negotiate with the buyer. It will also help you evaluate the buyers and their offers.
Set selling price slightly higher
The buyers tend to negotiate and bring down the selling price. Therefore, it’s recommended that you put the price slightly higher than your expected value. It will provide you with a margin to negotiate.
Evaluate buyers before you sell a motorcycle
Not all buyers are genuine. Many of them are fake and may try to dupe you. You need to make sure that the buyer is professional and has all the legal documents. You can also check the buyer’s website and client reviews to be on the safer side.
Meet in person
Best negotiations are made face to face. You can’t always talk on the phone or email the buyer. At some point, you have to meet them in person. This way you will be able to show your motorcycle and convince them on your desired price.
Arrange a test drive
Many buyers, especially the individual ones, ask to drive your motorcycle. As such, you need to look out for a safe place where you can arrange a test drive. Make sure that the place is not crowded. You can find such spots around the outskirts of the city. However, since these places are deserted, you need to ask someone to accompany you to be on the safer side.
Accept cash payment only
Cash is the safest option. The buyer can’t dupe you if he is paying you the amount in cash. All you need to do is to count the money and check whether all the currencies are real. Once you receive the payment, you don’t have to worry about anything in future.
Benefits of doing online research
Having a thorough knowledge about the market and the buyers will aid you in the evaluation process. You will easily make out whether a buyer is genuine or not in one or two conversations.
Negotiation with buyers
An informed owner is difficult to manipulate. The buyers can’t dupe you with fake offers. You can easily cross the offered price with the market rates.
Protection from fraud
A proper evaluation will filter out fake buyers, thereby protecting you from any fraud in future.
Benefits of motorcycle valuation
Having the right information about the motorcycle value will help you in comparing the prices. You will know what to expect from the buyers.
Evaluating the credibility of buyers
Any buyer offering you less money is usually trying to dupe you. He or she knows that you are inexperienced and therefore, provides you with an offer which is different from the market rates.
Cracking profitable deal
Getting your motorcycle value will aid you in a successful negotiation eventually helping you crack a profitable deal.