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There comes a time in every motorcycle’s life when it has to be sold. Sometimes it’s bittersweet because you have many fond memories of your motorcycle, but you also have found your next dream motorcycle. Other motorcycles are fraught with unexpected repairs or other problems, and you’re glad to be moving on to your next bike purchase. Regardless of the why, if you’re ready to sell your motorcycle, we’ve got plenty of information on the how front.
Before you do anything else, prepare yourself and the motorcycle for its eventual sale. Make sure you really want to sell the motorcycle, and then make sure it’s ready to be sold.
Clean Your Motorcycle
No one wants to buy a dirty motorcycle. The nicer it looks, the easier it will be to sell and get a fair dollar amount. The goal is to make it look brand new, so you may want to hire someone who specializes in detailing. If you want to save a few bucks and you think you have all the right tools, you can give it a try yourself too.
Price Your Motorcycle
Pricing can be a sensitive subject, especially if you still have a motorcycle loan or you’ve invested a lot of time and money into upgrades. That being said, if you want your bike to sell fast, you need to come to grips with your motorcycle’s true value. Starting too high, and lowering it in small increments over a long period of time, is a surefire way to turn off buyers and prolong your selling experience.
So think carefully about what is my motorcycle worth, and take advantage of resources like Kelly Blue Book (KBB) and NADA. Make sure to use online motorcycle classified sites and local resources to further fine-tune your price because the pricing guides are just a national average.
You can put a “For Sale” sign on your motorcycle, park it in your front yard, and buy a classified ad in the local newspaper. If you consider where people buy motorcycles, you’ll quickly realize that’s going to drastically limit your exposure and probably isn’t going to cut it. Most buyers these days are looking online or visiting dealerships to find their next motorcycle. So you’ll want to make sure you list your bike in the right places.
List Your Motorcycle Online
You’ve got plenty of options here. You’ve got free places like Craigslist and various biker forums, and you’ve also got paid sites like eBay, CycleCrunch, and ChopperExchange.
Free sites are great because they are free, but they also come with risks. Scammers and spammers love to contact people on these sites and take advantage of people or peddle their services.
Paid sites cost money, but sometimes you get what you pay for. It can be nice to have a company helping you find potential buyers and weed out your time wasters.
Get a Quote from a Dealer
If you just want to get some fast cash, check with a few local dealers. You obviously aren’t going to get top dollar, but they’ll gladly give you a quote on your motorcycle. Even if you don’t sell to the dealership, you at least have a starting point on what your motorcycle may be worth.
Get the Word Out
Tell your family, friends, and any other fellow bikers. Post on any social media platforms you use like Facebook. You never know who knows someone looking for a motorcycle of their own. Best of all this costs nothing and gives you something to talk about at the next biker event you attend.
Sell Your Motorcycle
So you’ve found a potential buyer, and he or she is really interested. You should meet in a public place to let the buyer inspect the motorcycle. If the buyer is on board, all you need to do is execute the transaction.
Make the Exchange
Decide on a mutually acceptable method of payment. There are traditional options like cash, money order, or cashier’s check. You also have online options like PayPal or Escrow.com. Escrow.com is a great way to ensure both parties feel comfortable with the transaction.
Once you’ve received the money, it’s time to turn over the motorcycle to the buyer. Along with the bike, you’ll want to sign over your title and provide the buyer with a bill of sale. Some states also require that you submit some of these forms with them so they know the vehicle has a new owner.
Find Your Next Motorcycle
Now that you’ve sold your motorcycle, you may be ready to start some new motorcycle adventures. Surely you can’t head to your local biker bar without a new ride.
As a previous owner, you know the basics of buying a motorcycle. You may still want to read our beginner’s guide on buying a motorcycle. There may be a few tips and tricks that you haven’t thought of in the past.