Selling Your Motorcycle? Don’t Forget These Two Points
Are you selling your motorcycle? Don’t forget these two points discussed here. Have you been eyeing a new two-wheeler or you are moving to another state? You may have outgrown your motorbike for financial reasons, or you’ve just had a new baby or may have other reasons to get rid of your motorbike judiciously. Selling your two-wheeler isn’t difficult, but there are a few essential steps to follow to ensure a profitable sale.
So, are you ready to sell your motorcycle? Don’t forget these two points explained later that are very important when deciding your sale.
Finding the Right Buyer
First, you need to find a suitable buyer for your motorcycle. Depending on the availability of time, you have to decide whether you want to sell your motorcycle to a dealer or a direct buyer. Now, dealers typically negotiate 20-50% lesser than the original value of your bike; the older the vehicle, the higher the depreciation. However, when you are pressed for time, then opting to sell to a dealer is the right way to go. They can speed track your paperwork and formalities and save some of your efforts.
If you are just eyeing a new motorcycle and have the time to negotiate, then it is most desired that you consider looking for a direct buyer for the price that you quote. Direct buyers are often more considerate about the cost and put you, as a seller, in a better position during the sale.
Prepare the Paperwork
Selling your motorcycle involves some paperwork:
- Vehicle’s title that proves the ownership of the bike. This is required for transferring the ownership officially from the seller to the buyer
- Vehicle sales agreement establishing the terms and conditions of the sale
- Test drive agreement when you allow test drive prior to the sale to protect the motorbike and its owner
- Updated license plate with all dues paid
Repair All Mechanical Issues
All mechanical issues, minor and major must be gauged by a professional mechanic or the authorized service agent and repaired before the sale.
The following is a helpful checklist:
- Tire alignment and chain tension
- Battery check
- Replace all damaged parts
- Brake, clutch, and throttle check
- Lubricating control cables check
- Brake fluid check
- Engine air filter cleaning
- Tire condition
- Engine oil change
Create Selling a Motorcycle Online Listing
A clean presentable vehicle with good quality pictures makes for an impressionable sale listing.
It shows that the vehicle has been taken care of. Pictures in various angles make it easier for the buyer to have a fair idea of the listing. List the specifications, age of the vehicle, motorcycle make and model clear and crisp to attract genuine buyers. List your price, negotiable or not, the reason for the sale along with your correct contact details. Agree to a test drive before the sale that ensures transparency which will come in handy when agreeing on the final cost.
Several online websites offer listings of used bike for sale. There are many paid listings as well that may help to speed up the process. So you are keen on selling your motorcycle? Don’t forget these two points.
- Bike Ownership Transfer
- Bike Insurance Transfer
Once you have finalized on the buyer and done the test drive, the next thing you need to look into is the transfer of ownership of the bike. The official transfer of the vehicle’s registration certificate and insurance certificate will ensure that you are handing over your vehicle and its liability to the new owner. The RTO may also initiate a form 28 request for this transfer, form 29 no objection certificate, and form 30 to finalize the transfer. Ensure the safety of the new buyer by keeping your bike insurance up-to-date. Buyers, especially direct buyers rely on trust when buying a used bike.
Are you confident with all the preparations before selling your motorcycle? Don’t forget these two points mentioned above to have a fruitful sale that ensures satisfaction to both parties.
Note* Explore more articles and information on two wheeler insurance at RenewBuy.