What is the resale value of your motorcycle? If you’re thinking of selling it to get a new one or maybe you’re planning to take it easy for a while, we made a list of tips and tricks that might be able to assist you on this journey. There are more than enough factors that affect your motorcycle resale value, and we’ve showcased some of them below.
Just how old is your bike?
Many beginning motorcyclists get used bikes because they either can’t afford a new one or they think that they’ll just sell it later on and get a model after they have acquired a good deal of experience in riding. The truth is that this can be a mistake in the long run, and that’s because it’s far more difficult to sell a bike that’s, say, thirty years old, instead of one that’s just ten years old.
The longer you use your bike, the more it is exposed to wear and tear. Motorcycles go through a lot over the years and some of the most common issues caused by time range from rust to worn-out parts and even loose wires and electric connections. Needless to say, if you have any of these, you should fix them as soon as possible, at least before you put your bike on the market.
There’s another area where new motorcycles are winners compared to their older counterparts, and it’s technology. Many of the modern bikes are equipped with safety features that you wouldn’t see in 70s or 80s models, and let’s face it, as cool as those bikes might look, everyone cares about safety.
Even if you aren’t thinking of putting your bike on the market just yet, it is a good idea to try to maintain it for as long as possible and keep it in good condition. Yes, this does mean that you’ll have to repair every little problem as soon as it shows up, and it’s going to cost you, but hey, you knew that when you got in the game, right?
There are several factors that could have an impact on the money that you could get for your bike, and its history is definitely one of them. If you weren’t paying attention when you bought a used bike and it’s been through things like getting its license plates changed or stolen complaints, you might be in for a rather nasty surprise.
As a general rule, you should do your own investigation when you’re considering getting a used motorcycle, because no matter if you get it from one of your buddies or not, the truth is that you can’t know its history.
What about modifications?
When it comes to motorcycle modifications, there are two that cross our mind right off the bat – those that deal with design and those that deal with performance. Sure, modifying your bike can seem like a good idea at the time you’re doing it, but the truth is that many prospective buyers are ‘purists’ and will rather want a bike to which no changes were made. Design modifications aren’t really frowned upon because those are rather easy to change back. Performance mods, on the other hand, might reduce the motorcycle resale value.
Keep in mind that modifying your bike in certain areas of the United States is illegal, so you will definitely have a hard time selling it there. Furthermore, performance modifications are usually done when there’s a problem that needs fixing and covering up, so that might look like there’s something fishy going on.
Keep your expectations realistic
Is there any demand for your motorcycle or no? As weird as that might sound, some bikes are more popular than others, and if your own is a limited edition, you might be able to get a good price. However, if it isn’t, there’s really not too much you can do about it, so you’ll have to keep your expectations realistic.
Something else that we would like to point out is that the value of your motorcycle decreases as you ride it more and more. Let’s say that you don’t even take it out of the garage for six years – you still don’t own a brand new motorcycle, and the parts will be affected by rust and the environment the motorcycle has been sitting in. Don’t expect to get the same money on your bike like what you paid for it in the first place.
The calculation goes something like this. If you invested around $20,000 in a new bike, in around five years, you’re going to be able to sell it for $15,000. Nevertheless, this is only a general estimation, and it largely depends on the number of miles you’ve ridden your bike, but also its current state.
Preparing your motorcycle for selling
If you’ve been somewhat uncaring with your bike over the years, you will have a hard time preparing it for selling. Start by cleaning your motorbike, check its parts and accessories (assuming you want to sell it along with the motorcycle accessories), and make sure you have any valid safety certificate. Then, you should do a bit of research on the selling price – look for announcements and listings for your specific model and see what other people are selling their bikes for.
You can’t sell your bike in the local newspaper because almost no one reads it anymore, so you’ll just waste some money on old-fashioned advertising. Use as many motorcycle forums and websites as possible and be sure to highlight some essential things such as the price, the mileage info, as well as the description of any accessories. You can even add a bit of history, too.
Because you can’t know for sure who you’re going to meet, you need to take several safety precautions to ensure that your motorcycle doesn’t get stolen even before you have the chance of selling it. Meet the potential buyer in a public place.
If you’d like to find out more about similar topics, perhaps you’d find our posts on motorcycle gloves for summer or quality Bluetooth motorcycle headsets useful.