July 5, 2023 | Are you looking to sell your motorcycle? In order to get the best price for your bike, you will need to conduct some research regarding local market trends. Knowing what kinds of bikes are selling for what price will help you come up with a competitive edge over the market, making your sale as painless and rewarding as possible. Start by looking into local classified ads and websites, as well as picking up some of those free auto trade publications you can find at grocery stores in order to get some semblance of pricing trends.
It will also help to go online to motorcycle forums and request opinions on where and when to sell. To get more accurate estimates, check out Kelley Blue Book or KBB and NADA guides, which will list individual price listings for your motorcycle based on make, model, and year. These guides will not be able to price for specific customizations, so if you have any additions to your bike it is advised that you take the information you obtain from the guides and consult the forums for the specifics regarding things you need for your motorcycle like new paint, new engine, and the like.
Keep in mind that you may not make your money back on these upgrades, so it may pay off to sell any add-ons separately to regain some sort of profit.
Are you looking to buy a used motorcycle?
Used motorcycles can save you thousands and are popular among those who make riding their bike into a hobby rather than their main form of transportation. But when you are in the market for a used motorcycle, there are certain things you need to look out for. Evaluating the bike’s condition, performance, and price are prerequisites for buying used, but before you even get to that point you need to evaluate your own expectations.
Consider what you are looking for in the motorcycle. Is this going to be a recreational bike? What is your budget? Will you be willing to pay for any repairs? Will you be looking for the best 300cc motorcycles? These are the types of questions you need to ask yourself when you are starting your search. Consulting automotive guides like KBB and NADA will be able to give you a ballpark when it comes to pricing and value of both new and used bikes.
Once you’ve specified your needs and determined a reasonable budget, you can start looking at bikes. Check out classifieds in the newspaper and online, research auctions, stop by a dealership, or ask family and friends if they know of anyone selling a motorcycle. When you find a bike you are interested in, make sure you fact check with the seller and evaluate the vehicles condition and performance before you make any offers.
This is where your research will pay off. When you know what you are looking for, you are less likely to pay more than you should.
If you search for KBB motorcycle, it will ask for the make and model of your motorcycle followed by the model code. Then it will ask whether you are trading in or want to guy a new motorcycle, click on either option and you will find suggested KBB motorcycle value. Similarly NADA motorcycle works in the same fashion. If you will search for NADA Guide, you will find an option, NADA motorcycle, where it will ask for the make and model plus some additional options related to the selected models.
Assessing the condition of the bike requires a few actions on your part. First, check over the body of the motorcycle. Look for signs of physical damage and ask the seller for a history report. You will want to know if it has been in any accidents or had any repairs. Look at the tires, the motor, the engine, and check the mileage.
Make sure all are in working order by taking the motorcycle for a test drive. Drive the bike at different speeds, test the gears and the breaks, and make sure the bike is comfortable and easy to steer.
It may help to take the bike to a local mechanic so they can provide you with a third-party judgment on the condition of the bike. If the bike needs repairs, assess what, if it all, you are willing to pay. All of these factors will influence your evaluation of the price. Again, your research online and in the automotive guides will give you an idea of what to expect, and your inspection of the bike’s condition will further determine the price you are willing to pay.
It is always suggested before buying or selling a motorcycle, do consult KBB for KBB motorcycle price suggestions and or NADA motorcycle price suggestions on their respective website.