Used motorcycles appear everywhere today. A person might choose to upgrade their ride and need to sell a bike to help pay for the purchase. Other individuals sell because their circumstances have changed and a bike doesn’t fit in their lifestyle right now. Regardless of why a person will be selling a bike, educated buyers are the ones who benefit.
Sellers need to do their research to ensure they set a fair asking price for the bike. This research is also of great help if a buyer wishes to negotiate. The more a seller knows, the easier it becomes to sell the bike and get a reasonable amount of cash. The following guide provides an overview of used motorcycle pricing and what all parties need to know.
Brand, Make, and Model
Certain motorcycle brands have a following. Harley Davidson is an example of a motorcycle maker with loyal followers, which is why many people head to cleanharleys.com when they want to buy a used bike. They are willing to pay more for one of these motorcycles to benefit from their quality, innovation, and visual appeal. This fan following will affect the asking price for a used bike.
Other brands might not have as big of a following, but still hold their value in the resale market. Honda bikes are a good example. Consumers know this company for its reliability and are willing to pay more for one of its bikes. The manufacturer’s suggested retail price is also higher at the time of purchase, which affects the resale value.
Make and model are other factors that influence a bike’s resale value. Kelley Blue Book and the NADA Motorcycle Value Guide are excellent resources for those looking to buy or sell a used motorcycle. They provide a baseline value for most used motorcycles on the market today.
Many bikes come with equipment packages, just as passenger cars do. The equipment package adds value to the motorcycle. This added value will increase the resale price of the bike.
Private Sale or Trade-In?
People will find they get more money if they complete a private sale rather than trading their bike in. The dealer is in business to make a profit. To do so, they must satisfy their customers, advertise, and more. As a result, they mark up any vehicles they put up for sale, including motorcycles. When a person trades a motorcycle in, the dealer takes this into account and offers a price lower than the actual resale price.
Supply and Demand
Bikers are willing to pay more for a bike if it is a particular make and model they want. When this make and model is hard to find, the price goes up. As with all consumer goods, supply and demand play a role in how much a person will pay for a desired item.
The Condition of the Bike
The first thing a person will notice when inspecting a used bike is its cosmetic condition. They look for scratches, dents, and dings, as these blemishes provide them with information about how the bike was ridden. All used bikes for sale should be washed, waxed, and polished at a minimum. Buyers look for a bike with a clean body and wheels.
If a seller shares information about a noticeable defect up front, buyers appreciate this. They may want to negotiate the price, but they are less likely to walk away from a deal when a seller is honest and transparent.
The mechanical condition of the bike is more important to most buyers. The first thing they will want to know is the age and mileage of the motorcycle. High mileage tends to lower the price of the bike, but brand reliability plays a role in this.
At a minimum, the bike should undergo a tune-up before it is put on the market. The oil, air filter, and spark plugs should be changed, and the seller should replace brake pads that are 50 percent worn or more. Inspect the chain and drive belt to see if they need replacement as well.
Take the vehicle to a mechanic and have them do a similar inspection. They may find things the owner missed. If the bike needs major repairs, the owner must decide if they want to have these repairs completed or sell the bike as-is. If the second option is selected, the buyer should expect to receive considerably less when they sell. It may also take significantly longer to sell the bike if the seller chooses not to have these repairs done.
Parts Availability
Are parts for the bike easily available? It will be easy to find parts for certain bikes, but others not so much. The older the bike is and the less common the model, the harder it will be for a new owner to find parts. This impacts the value of the bike, although many people don’t recognize this.
A person wishing to sell a bike that has limited part availability should look for a motorcycle enthusiast. They will be able to make modifications to keep the bike running when needed or have an extensive network of bikers who can help them find parts. They might be willing to pay more for the bike because they know they can keep it up and running.
Modifications to the Bike
Sellers often assume modifications they made to the bike will increase the resale value. In fact, certain modifications decrease the resale value of the bike and make it almost impossible for the bike to be traded in. Even those modifications many bikers make, such as adding windscreens, may not help the resale value of the bike, although they won’t hurt it either.
Many options exist today for men and women who want to sell a motorcycle. They may use social media, general vehicle sale sites, classified ads, or sites dedicated strictly to the sale of motorcycles. Bikers in the market for a new ride should look at all available options before making a purchase. Now that both parties know what affects the resale price of a motorcycle, they can ensure they get a fair deal when this transaction is completed.
