The question, “How to sell my motorcycle,” needs special attention as selling anything can be a hassle, especially if it’s mechanical in nature. You need to persuade the buyer that the condition of your motorcycle is acceptable and it will be of worth to them. It’s challenging to bring a buyer on board without providing a significant value. However, proper market research, bike valuation, and good negotiation skills can help you attain the price you expect from the sale. Prior preparations will help you better understand the process and equip you with enough knowledge to persuade the buyer to pay you the desired amount.
Let’s have a look at some of the strategies that will help you get the best deal.
Steps to sell my motorcycle:
Start with market research
An average person does not have much knowledge about the process of selling a motorcycle. As such, it’s not advisable to enter into a negotiation without a proper understanding of the market. For that, you need to explore the prices for junk motorcycles. You also need to know the locations where the demand is higher. That way, you will be able to target the right buyers.
Get quotations for your motorcycle
To know the approximate value of your motorcycle, you need to reach out to websites that provide free quotations. You have to fill an online form mentioning the details of your bike. Once you submit your record, the experts will contact you with the offer.
Prepare your motorcycle
The first impression is the last, and it holds true in the case of selling a motorcycle. The buyers can refuse the offer on the spot if they find a dirty bike. All you have to do is give your bike a quick wash to remove the dirt from the body. You can also add some wax to the surface to give it a nice shine.
Prepare your documents
Besides getting your bike ready, you need to gather all your essential documents, including the title,warranty papers, service records, etc. The title is a must as it is required to transfer the ownership to the buyer. If you have all the documents with you beforehand, your transaction will be quick and hassle-free.
Get payment in cash
Cash payments are the safest option. You don’t have to cross-check the credibility of the buyers. The worst-case scenario would be that the buyer provides you fake notes. However, if you are vigilant, the buyer can never fool you. Also, make sure that you receive the entire payment on the spot. Don’ accept any offer of partial payment. There is no point in sending reminders to the buyers in the future.
Inform your insurance company
Get in touch with your insurance company and inform them about the sale. You need to do that before your next installment is due. Ask them to remove your subscription so that you don’t have any liabilities in the future. Also, contact the local department of the motor vehicle and ask them to cancel your registration. Remember, unless your registration is canceled, you will be regarded as the owner of your motorcycle and will be responsible for any mishap that happens after the sale.
Learn how to get the maximum value for your motorcycle from our blog “How to sell my motorcycle for the best value?”
How long does it take to sell a motorcycle?
There is no set timeline for selling junk motorcycles. It depends on various factors. For instance, if your bike is in good condition, you may be able to find buyers quickly. The other aspect is your location. Demand for used motorcycles varies from place to place. You need to find out which sites have a high demand and try pitching your offer. That way, you will be able to close the deal in a lesser time. Also, you need to gather all your documents before you contact the buyers. Prior preparations will eliminate any delay during the process. For instance, if you have lost the title, ask the DMV to issue a duplicate one.
How do you protect yourself when selling a motorcycle?
It’s not advisable to rush to sell motorcycles for cash when you receive an offer. You may never know who you are dealing with. Many fake buyers present themselves as professionals and then manipulate with low-priced offers. It’s better to take some time to evaluate the buyers by going through their profiles and reading the client reviews.
Do people buy motorcycles online?
Online selling is the easiest and quickest way to reach out to a large number of buyers. Many buyers, including regular ones, junkyard shops, and professional dealers, put their profiles online and search for sellers. Some websites help connect the sellers and buyers in no time. It’s an excellent opportunity for you to place an advertisement providing all the details of your motorcycle, including its make, model, mileage, and expected offer.
Who can pay me cash for junk motorcycles?
There are plenty of options to choose from while selling junk motorcycles. The buyer’s choice will depend on the time you wish to spend and the money you expect to earn from the sale. There are majorly four kinds of buyers:
The regular buyers
These buyers require a bike but can’t afford a new one. They are willing to spend on a second-hand motorcycle at a lower price.
If your motorcycle is no longer suitable to drive on the road, but some of its parts are still working, then you can sell it to junkyard shops. These shops do not fret much over the documentation. All they need is the title to ensure that you are the sole owner.
If your motorcycle is damaged to the extent that none of its parts are working, then it’s better to scrap it to salvage yards. These buyers are only interested in the metal part and dispose of the remaining components in the trash.
If you are too busy to spare time finding out the buyers and negotiating with them, you can reach out to professional dealers. These dealers help you connect with potential buyers and carry out the formalities for you.