If you have an old motorcycle lying useless in your garage, then there is no point keeping it. You will only be adding your troubles. The best way is to sell your motorcycle to potential buyers. This way, you will be relieved from all the stress and also earn a decent amount of money from the sale. All you have to do is to connect with interested buyers through online portals and start your negotiations.
Steps to sell your motorcycle
The process of selling a motorcycle is very straight forward. Though the steps are many, they are simple.
You start with posting an ad on an online portal. For that, you will have to upload a few pictures of your motorcycle and add some description. Eventually, interested buyers would approach with offers.
Evaluate the buyers
Once you receive multiple offers, sit back and check their credibility. You can visit the buyers’ website and read client reviews.
Start the negotiation
After choosing the buyer, you will then have to put your price. Make sure that it is slightly higher than what you expect. The buyers tend to bring down the value and a higher selling price would provide you with a margin to negotiate.
Receive the payment
Make sure that the buyer pays you the entire amount at the time of delivery. Do not accept any offer of partial payment. Cash in hand is the safest option.
Inform your insurance company
Once you receive the money, inform your insurance company about the sale and ask them to stop your future premiums. Also, contact the local department of the motor vehicle and ask them to cancel your registration. This way, you won’t be liable for your car in future.
How do I get maximum value for the motorcycle?
Be ready in advance
As a first-time owner, you might not be having enough experience to deal with the buyers. As such, you prepare yourself in advance. Here is a checklist of what you have to do before you sell a motorcycle:
Wash your motorcycle
It won’t take much of your time. All you will have to do is to clean the motorcycle with running water and afterwards apply some wax to add the shine. This will remove any dust present on the surface. A clean motorcycle will leave a nice impression on the buyer.
Get the repair work done
If your motorcycle requires minor repairs, then get them done. Though it will cost you a bit, eventually it will boost your negotiation power. You will be able to convince the buyer easily at your desired price.
Do some research
The best way to be prepared in advance to have a thorough understanding of the industry. That can be achieved by doing some online research. You can visit websites which provide relevant information on used motorcycles.
Put selling price in advance
The buyers tend to bring down the price. As such, you will find it difficult to deal with their manipulations. It’s therefore advisable that you put the selling price slightly higher than your desired amount. This way, you will get enough margin to negotiate.
Having proper communication with the buyer is the key to a profitable deal. Though it takes some time, it well worth the effort.
Check the buyer’s credibility
If you have any doubt about the buyer, ask them questions. Ask them to provide their legal documents. If at any point you feel that the buyer is trying to hide information, cancel the deal. Professional buyers never shy away from revealing their identity. It’s the scammers that conceal their personal information.
Talk to the buyers in person
Talking in person is important as face to face interactions clear many doubts. Schedule a meeting with the buyer and put forward all the terms and conditions before-hand.
Schedule a test drive
The buyers sometimes want to test your motorcycle before they finalize the deal. You must therefore arrange for a test drive at a safe location. However, since such locations are deserted, ask some of the friends to accompany you as a safety measure.
Ask for payment in cash
Once the deal is finalized, ask the buyer to pay you the amount of cash. Do not accept any offer of partial payments. The buyers seldom turn up to pay the remaining amount once the deal is closed.
Why should I research the market?
It’s difficult for an owner to understand the process of selling a motorcycle. Without any experience, you cannot close a profitable deal. As such, you need to put some effort into research. You can visit websites that provide relevant information on the market for used motorcycles. There are many benefits of market research:
As you would be better informed about the prices, you will be able to identify the right buyer. If you receive an offer which is lower than the market price, you can assume that the buyer is trying to fool you. In short, your evaluation skills get boosted.
Having relevant knowledge about the market will help you understand the manipulations of the buyers. You would not be carried away by their false promises.
Safety from scammers
As you will be able to identify the right buyers, you would be safe from all the scammers. Though they might try to influence you, your research efforts will always guide you in the right direction.
Why should I get my motorcycle valued?
You cannot calculate the price of your motorcycle on your own. You need a professional to do it for you. Some agencies provide you with such services. The valuation of the motorcycle helps in many ways:
You can easily compare the offers you receive from the buyers with your motorcycle’s value and discard all the fake ones.
Checking the credibility of buyers
Any buyer offering lower prices can easily be identified.
Getting the best deal
Correct evaluation of the buyers and the offers will eventually land you with the most profitable offer.
Still worried about your old motorcycle? Contact us to earn the best deals in the market. The company would help you connect with professional buyers near your location.