Motorcycles are often bought as a hobby or passion and may become a part of a person’s identity. However, as time goes by, priorities may change, and it may become necessary to sell or trade in a motorcycle. When it comes to trading in a motorcycle, there are certain things every owner should consider.
Timing is Everything
The timing of selling or trading in a motorcycle can significantly impact the return on investment. A motorcycle with low mileage, that’s in perfect condition, and in high demand can be sold for more money than one with numerous scratches, dents, high mileage, or needing repairs.
The right time to sell or trade-in a motorcycle is when the bike is in the best condition possible. This also means avoiding the winter months, when demand for motorcycles tends to be lower. Instead, aim to sell or trade in a motorcycle in the summer when the demand increases.
Timing is a key element of negotiation when trading in a motorbike. The end of the month, quarter, or year can often motivate dealers to increase their purchasing volumes. They may also be more willing to sell the motorcycle at a better price if they have a sales goal to meet.
The negotiation process can also be affected by external factors. For example, if a dealership has multiple motorcycles with similar specifications, they may be more willing to negotiate to sell the specific motorcycle.
Research is Key
Before trading in a motorbike, research what other similar models are selling for. The value of a motorcycle can vary significantly depending on the make, model, year, condition, and mileage. Websites such as Kelley Blue Book and NADA offer approximate values of motorcycles. These evaluations can be used as an indicator of what the motorcycle could be sold or traded in for.
Preparation is Essential
Preparation is essential when trading on a motorbike. Before trading in a bike, ensure it is clean and has no visible damages. This can mean handling scratches, dents, and rust spots with touch-up paint or having repairs completed. The goal is to make the motorcycle look as new as possible.
Gathering documentation, such as the title, registration, and service records, can expedite the process. These documents show that the motorcycle is legally owned and maintained to the best of the owner’s ability.
Negotiation is Part of the Process
When trading in a bike, the dealer will assess its value and  make an offer. This offer is not the final price but is part of a negotiation process. The dealer’s initial offer will often be lower than the owner expects.
Negotiation requires skill and patience. Before entering negotiations, set a realistic and fair target for the price. This can be based on the research done beforehand on similar models. It’s essential to be aware that the dealer’s goal is to make a profit, so they will try to get the motorcycle at the lowest price possible. Stand firm, and be willing to walk away if the offer is too low.
Trading in a motorcycle involves careful consideration of timing, research, preparation, negotiation, and a willingness to walk away. Researching the motorcycle’s value on websites may provide a starting point for negotiations. The motorcycle must be in the best condition possible, with all necessary documentation available for the dealer. Multiple offers and external factors, such as the time of year or dealership sales goals, affects the negotiation process. Trading in a bike is a decision that needs to be carefully considered, and following the steps outlined will ensure that the best deal possible is made.