cProtection from scammers is the major concern when selling a motorcycle for cash. The reason being your lack of experience. However, that does not mean you will always mess up the deal. There are ways you can be effective in your negotiation. Start with basic research followed by careful evaluation of the buyers. The key is not to hurry. You will get plenty of offers. Get your motorcycle valued, so that you have an idea about what your motorcycle is worth. This way, you won’t be fooled by scammers. Also, you will be able to set the right selling price.
How do you sell a motorcycle with a title?
Know about the market
Before you start communicating with the buyers, do some research on the market for used motorcycles. It will help you understand the nature of the business and the buyers. Also, you will get an idea about the market prices which will help you in negotiating with the buyers.
Explore potential buyers
You can start by visiting local shops and buyers near your home. It’s the traditional way. Though you won’t find many buyers through personal visits, it’s easier to check their credibility. You can also search for buyers online and scroll through their reviews.
Sell your motorcycle online
The best way to reach out to a large number of potential buyers in no time is by going online. For that, you will have to set up a profile, add a few details about your motorcycle and upload quality pictures for buyer’s perusal.
Evaluate the offers
Don’t get too excited about receiving your first offer. Sit back and relax. You will get plenty of them. Take your time to evaluate them. Match them with market prices. Once you are certain, you can proceed forward with the transaction.
Meeting in person with the buyers
Ask the buyer to meet you to discuss details about the deal. Phone calls and emails are not sufficient to close the deal. You need to talk face to face to understand what the other person wants. Also, you will be able to tell the buyer about minor details about your motorcycle which otherwise get unnoticed.
Receive cash for motorcycles
Cash payments are safest. You don’t have to worry about the credentials. Just receive the cash and you are done. Also, ask the buyer to pay the entire amount in one go. Don’t accept any partial payments. Though buyers may promise to pay the remaining amount in future, their delay in payment will leave you frustrated.
How to get good cash for junk motorcycle
Get a price estimate for your motorcycle
Knowing the value of your motorcycle is necessary to set up a selling price. Also, it will help you evaluate the offers. To get an estimated value for your motorcycle, visit websites that offer free quotes. You will have to fill in some details like the motorcycle’s make, mileage, location, etc, and the website would provide you with an approximate value.
Get your documents ready
Be prepared with all your documents before meeting the buyers. These documents include the title of your motorcycle, service records, warranty papers, etc. Though documentation may not be a concern when selling to junkyard shops, they are always required by individual buyers.
Clean your motorcycle
You need to wash your motorcycle to remove the dust from the surface. Simply clean it with water and then add some wax on the surface to add shine. If your motorcycle looks good at first sight, the buyer may agree to accept your deal.
Get repair work done
Old motorcycles get rusty. Some of their parts get jammed and worn out. No buyer accept junkyard owners would be willing to pay a good amount for it. Before you present your motorcycle to the buyer, make sure that you get your minor repairs done. However, if the repair costs are high, then there is no point in spending on it. In that case, you can sell your motorcycle as scrap.
Put up a selling price
Remember, the buyers won’t easily yield to your demands. They will try their best to bring down the final price. When you set up your selling price, put it slightly higher than the actual market price. This will give you a margin to play with. Even if the buyer negotiates, the final price would lie somewhere close to the actual price.
Carefully communicate with the buyer
Don’t rush into closing the deal. The buyers are not going to run away. Take your time to know the buyers. Ask them questions. Inquire about their whereabouts, business and license. Remember, the more you put the effort into evaluating them, the better are your chances of getting the right offer.
What are the benefits of online research?
Online research equips you with relevant knowledge about the market and the process of selling a motorcycle. It helps you in setting the right selling price, negotiation with the buyers, etc. Let’s take a look at some of the major advantages of online research:
Your motorcycle valuation
You can get your motorcycle valued online. Many websites provide such services. They ask for a few details about your motorcycle like its make, mileage, etc. Once you enter your information and proceed, you get an approximate quotation in no time.
Helps in buyer’s evaluation
With detailed information about the market, you are better able to distinguish the right buyers. Anyone trying to manipulate you can be easily identified.
Protection from scammers
As you would be more informed, your chances of getting duped will be less. You won’t be swayed away by fake offers from the buyers.
Ease in negotiation
You need to be skillful as well as informed to be a successful negotiator while selling a motorcycle. Though skill can’t be learned on short notice, you can still make the most out of the negotiation by being well-informed. Market research will provide you with the knowledge required to tackle the buyers.
Getting a profitable offer
Once you get the right valuation, check the buyer’s credibility and negotiate carefully, your chances of cracking a profitable deal becomes higher.