So you’ve decided to sell your motorbike, and already you might be starting to worry just how complicated and stressful the process could be. But there’s no need to worry, because with the right amount of preparation you can make selling your bike a hassle free experience.
With this in mind, we wanted go through the things you can do to before you sell your motorbike, so that you can avoid the common pitfalls some sellers fall into…
1 – Prepare your motorbike for the seller
One of the first things you need to thing about is of course presentation, which means getting your motorbike looking similar to the way it did when you first bought it. This means giving it a good clean to get that shiny showroom look. It’s worth investing in some quality wet wax and chain lube, so that it’s looking the best it can possibly look for any potential buyers.
Consider giving your motorbike a mini service, to ensure everything from the tyres to the electrics are all working and in good condition. If you do notice any issues, such as leaking or faulty bulbs then get these fixed straight away. Get an MOT if the bike clearly needs one, as a years MOT will be a good sign for anyone looking to purchase. Remember, the more effort you put in now, the less there will be to haggle about when it comes to the sale.
2 – Get information ready for a bike check
Anyone who’s interesting in purchasing your motorbike will want to complete a bike check before going ahead. This means you will need the information they require in order to carry one out; including the registration plate, the engine numbers and the MOT certificate serial number etc.
As well as these details you’ll get a report to tell the seller additional information, such as whether any finance is owed on the motorbike, if it’s ever been written, registered stolen etc. In order to ensure the sale goes through as quickly and as smoothly as possible, it’s better to have this report already done, so that the buyer doesn’t have to worry.
The more information you have to hand about your motorbike the better, so make sure you make a folder; and put any service records, receipts for things like modifications, previous MOTs, tax receipts, and manuals etc into it.
3 – Know where to sell it and how much for
Just like when you’re purchasing a new motorbike, you can choose to sell yours either privately, or through a dealer. Keep in mind you’ll be offered less money through a dealer than opting to do a sale privately, but selling to a dealer will be far quicker if you’re in a hurry. It can also sometimes be worth speaking to other bikers to get some tips on where to advertise your bike.
When deciding how much to sell it for, it’s a good idea to check the price of similar models in various motorcycle magazines and online. You could always use website like www.usedbikeguide.com, to ensure your listing is accurate in terms of price.
4 – Understand what you’re doing during the sale
Some potential buyers will ask if they can take your motorbike for a test ride; if this is the case then make sure you ask them to bring the asking price in cash as a deposit. Some may want to pay you by cheque, so ensure that this has cleared before agreeing to let them take your motorbike for a ride. Of course it’s essential that you make sure they are insured to ride your bike, do this by asking to see their proof of motorbike insurance.
Keep in mind that the buyer may wish to transfer the money between their account and yours. If they ask their bank for a same-day CHAPS transfer before 2pm, then the cash will go into your account before the end of the day. Some buyers opt for this because it avoids them having to carry around what could be a large amount of money.
Remember, the buyer will want the best bargain they can get, so expect them to haggle with you a little. Unless you really need the money there and then, it’s a good idea to not sell to the first person who shows an interest, unless they are willing to pay your full asking price, or close to it. Don’t be too stubborn, because it may be better to lose out on a little cash, than to have to re-advertise your motorbike all over again.