How To Sell Your Motorcycle Fast
Life changes. When it does, you may sell items to generate cash. For example, your dream home might come up for sale and you need to sell an asset to come up with the down payment. The birth of a new child could require the purchase of a bigger vehicle, or you may wish to sell an item and upgrade to a newer version.
A motorcycle serves as a good example of an item you might sell in any of these situations. You need cash fast and this is a good way to get some. How can you sell your motorcycle fast? Owners discover they have several options.
Online Motorcycle Dealers
Consider using an online site to sell the motorcycle. Although a person doesn’t make as much as they would through a private sale, this transaction comes with less hassle. The seller enters their VIN number and shares it with the service. They then bring the bike in for an evaluation and receive an offer. If the seller accepts the offer, they receive payment and finalize the sale.
However, the seller may not live near an online motorcycle marketplace. Don’t discard this option yet. Speak to the company about having the bike shipped to them. Many companies now allow this. Once they receive the bike and evaluate it, they make an offer. If the seller accepts it, they send out a check.
The process takes longer if it involves shipping the motorcycle. Sellers need to take this into account when determining whether this serves as the best option. Nevertheless, many people decide this is the route they wish to take. That’s a matter of preference.
Online Classified Ads and Auctions
Another option involved selling the bike through an auction or online classified site. Although these sites aren’t dedicated to motorcycle sales, they provide a buyer with nationwide exposure, which increases the odds of the bike selling. Certain sites remain popular among individuals looking to sell high-ticket items. The following serve as the most well-known today.
EBay, the online auction site, offers an outstanding way to receive significant exposure. This site had over 180 million shoppers as of mid-2019, and that number has likely grown thanks to the increase in ecommerce sales resulting from the global pandemic. While only a few of these sellers will look to purchase a motorcycle, that’s still an enormous figure. One percent of 180 million is 1.8 million. A person can’t get that exposure locally.
Craigslist provides another means of selling a motorcycle, but sellers find the audience is much smaller. It’s restricted to the person’s geographical location. Furthermore, sellers must take care, as many people have fallen victim to scams on this site.
As with Craigslist, Facebook Marketplace allows sellers to promote their bike locally. This means the audience remains limited. The service is free, however, which many sellers appreciate.
Facebook isn’t the only marketplace today. Consider using others local to your area. This includes OfferUp and Letgo. As with other options, the audience remains limited and neither marketplace specializes in motorcycles.
Some riders avoid dealerships at all costs. They don’t like used bike salesmen and it’s hard to change their minds. There are unscrupulous salesmen, as with any industry, but there are also great people at these places. For this reason, you should never overlook this option.
As with any business, a motorcycle dealership must make money to remain in operation. However, this is a good way to get cash quickly and a person looking to upgrade their bike might find trading it in serves as the best option. People find this is a convenient way to get rid of a bike they no longer want and possibly upgrade to a new one.
One benefit of going this route if you plan to upgrade is the dealer is likely to accept the trade-in simply because they wish to sell the new bike. The seller doesn’t make as much in the trade, but there is little hassle involved with the process. As a result, many sellers choose to go this route.
Consider asking family, friends, and colleagues if they are interested in the bike. They may not personally want it but could know someone who does. The hardest part when going this route is knowing how much to sell the bike for, as you want everyone to get a fair deal in the exchange.
Furthermore, attend motorcycle events and let people know you wish to sell the bike. These events might take place in your city or some bikers take the motorcycle they wish to sell to a major event in another city or state, such as the Sturgis Motorcycle Rally that is held annually.
Individuals looking to sell a rare, exotic, vintage, or classic motorcycle should consider using an auction house. This market remains fickle and depends on unrelated larger market forces. The key lies in getting the right buyer at the appropriate time.
Work with an auction house that specializes in collectible cars and motorcycles, but prepare to pay a premium for their services. Often, the buyer pays a premium of five percent or more when using this option. Nevertheless, the right auction house brings top dollar for the bike, and their services pay for themselves in the price paid by the new buyer.
There is no right or wrong way to sell a motorcycle. Each rider must determine which option they feel most comfortable with and use that. Choose the method that provides the most exposure, as this helps to bring in the best price. However, when time is of the essence, it might be more prudent to sell to a service that pays out upon inspection of the bike.
Regardless of which method you choose, know the value of the motorcycle before you do anything. Although you may not get top dollar, knowing this value helps you determine the lowest amount you can accept for the bike. With this information, you can sell with confidence knowing you got a fair deal and the cash you need quickly.