No matter how little most riders want to think about it, there may eventually come a time when the best option is to sell a much-loved bike. It doesn’t matter whether sellers plan to stop riding entirely or they want to generate some extra cash to upgrade to a better model of motorcycle. The preparation process is the same, so read on to find out what to do.
Step One: Decide How to Sell the Motorcycle
There are two ways to go about selling a motorcycle. Riders can sell their bikes to dealerships or look for private buyers. For those who need to sell a motorcycle to come up with some extra cash for the purchase of a new bike, the choice is obvious because a dealership will offer trade-in value. That said, it’s sometimes possible to get more money for a bike sold to a private buyer than a dealership if sellers are willing to do all of the legwork and take some extra risks by posting in newspapers, online classifieds sites, or magazines.
Step Two: Determine the Motorcycle’s Value
Before looking for a buyer, or even preparing the bike for sale, it’s worth checking some pricing guides. Red Book, NADA, and online motorcycle forums can all provide useful information about motorcycle pricing. Be prepared to negotiate and keep a lowest-offer figure in mind, especially when selling to a private buyer.
Step Three: Prep the Motorcycle
Regardless of which approach a rider chooses to sell a motorcycle, taking the time to prep the bike for the sale can make a big difference when it comes to the sales price. At a minimum, sellers should take these steps:
- Start the motorcycle up to make sure it runs smoothly.
Remove any personalizations and replace them with stock parts.
Clean and detail the motorcycle thoroughly.
Planning to sell to an individual rather than a dealership? Consider having a mechanic check the motorcycle over for serious problems and provide a receipt to show prospective buyers.
Step Four: Gather Paperwork
Preparing the motorcycle for sale is only the first step. Sellers will also need to prepare the documents required to legally transfer ownership of their bikes. Depending on where sellers live, the paperwork required to sell a motorcycle can include:
- The title
A bill of sale, which may need to be notarized in certain circumstances
The Vehicle Identification Number (VIN)
Registration details
Receipts for recent mechanical work
Keep in mind that the motorcycle needs to be registered and titled in the seller’s name. It’s illegal in every state to sell a motorcycle that hasn’t been registered to the current rider.
Step Five: Consider Safety
Sellers who plan to take their motorcycles to local dealerships for trade-in value don’t have to worry about personal safety. They just need to find a ride home. The situation is different for people who plan to sell to individuals. When selling a bike on a classifieds page, make sure to meet in a public place, and don’t allow a test ride until after taking collateral. Finally, after selling the motorcycle, make sure to file a change of ownership form at the local DMV immediately to avoid potential liability issues stemming from the new rider’s behavior.
Start the Search for a Reputable Buyer
It can take some time to prepare a motorcycle for sale and find the right buyer. By far the fastest way to get cash in hand for a used bike is to head to a reputable dealership, but even that can take some work. Get started now instead of waiting until the last minute.
