Ways to Maximise the Resale Value of Your Bike

Posted on: Mar 1, 2022 | | Written by:

Ways to Maximise the Resale Value of Your Bike

Published on March 1, 2022. EST READ TIME: 3 minutes

Selling a bike can be quite overwhelming. As a bike owner, you have your reasons for wanting it gone and off your porch. You love your bike but for one reason or another, are looking to get rid of it. When this time comes, you’ll need to move fast and make sure you get the best deal for your bike. But how do you do it? It might seem like a daunting task if you haven’t done it before. But read on and we will look at how you can sell your bike at a good resale value.

Bike Maintenance

1. Even if you've had the motorcycle for a long time, don't let it show in its appearance. Paint treatments are vital for re-modelling your old bike and increasing its worth significantly. Most significantly, paint treatments allow you to conceal the true age of the motorcycle, which is essential for attracting a large number of clients.

2. Upgrading the grips may also help. You may replace them with more robust, pleasant, and long-lasting grips. This will not only improve the vehicle's efficiency but also its marketability. Even if the customer buys less for a second-hand bike, he will undoubtedly inspect it to ensure that it is in fine operating order. Check that all of the critical components, including the grips, are operational.

3. It is critical to lubricate the chain and verify it is in good condition before selling the motorcycle. Every motorcycle owner wants to receive the greatest price on their machine. An unoiled chain, on the other hand, will deteriorate in both performance and cost. Oiling does not have to be a difficult task. You just need to be conscious of the proper procedures and ensure that they are followed!

4. A messy, crowded, and filthy garage is not a good environment for your vehicle. Remember to put it in the proper location to avoid dust and dirt gathering. Improper storage may have a significant impact on the efficiency of your motorcycle. It must be kept in a neat and functioning environment that is well-maintained.

5. If you ride your bike frequently, evaluate its performance at frequent intervals. This will provide you with a sense of where things stand right now. If you direct the customer correctly, you may sell used motorcycles for fairly high rates.

Valuation

The price of a used bike is influenced by a variety of variables. There are several sites and tools accessible online that can calculate and offer you an estimated resale value for your bike. You might also visit your local mechanic and get their take on the situation.

Age, brand, kilometre run, bike third-party insurance history, ownership, general condition of the bike, are some of the key deciding considerations. Remember that earning a fair price for your bike is dependent on both the bike's overall condition and your negotiating abilities.

Paperwork

To receive the greatest price for your bike, make sure you have all of the necessary documentation. Once the transaction is made, the documents must be transferred to the new proprietor's name.

Necessary Documents include:

1. Registration Certificate,

2. Two-wheeler Insurance Plan Documents,

3. Road Tax Certificate,

4. Form 28,

5. No Objection Certificate,

6. Form 29 and,

7. Form 30

For more information, you can go to your local RTO office.

It is critical to transfer the required bike third-party insurance obligation as soon as possible. If the sold motorcycle is caught in an accident but the bike third-party insurance policy is not yet transferred, the previous owner is held responsible.

Locating a Buyer

The most crucial aspect of getting a good price for your bike is locating a buyer who's really prepared to give you a fair price for it. You have two good possibilities for finding the ideal buyer:

1. Garages in the neighbourhood

This is an old-fashioned method of reselling products, but it is still among the quickest ways to obtain cash. The benefit of selling your used bike to a neighbourhood mechanic is that the transaction is generally completed on the same day. To reduce processing expenses, it is often preferable to sell anything locally.

2. Online Marketplaces

This is another popular and simple option to sell your used bike. There are other websites where you can submit a few images and a detailed explanation of your two-wheeled beauty, and potential buyers will contact you.

Conclusion

Always be patient when selling your vehicle to the dealers. It is not an easy task and may sometimes become annoying if you are dealing with a rookie or a professional. But you will have to keep up your stamina till you find the right buyer. This includes doing detailed research on the right dealership and the right price for your vehicle. Do not forget, it is a business deal, and there are no good or bad deals in business…only good or bad negotiations! Also, make certain that the bike third-party insurance is transferred to the buyer. You don't want troubles after the transaction, believe me.

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.

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