For most of people motorcycles are their symbol of freedom and represent their intern feelings and style. Whatever the reason is, the decision to sell your bike is always a hard one but sometimes it must be done. If you decided to part ways with your best friend be sure to get a good price for it. This time we asked the person who spent more time driving bikes that walking, one of the best motorcycle mechanics and dealers – Matt.
VI: Hi Matt, thanks for coming to meet us. As you already know, we are making an article so we can help all drivers to sell their bikes fast and for good money. There is no one who knows more about that than you and that is why we decided to call you so you can give as some advice.
Matt: Hello everyone, I am honored that you called me. I drive motorcycles since I was a kid and I dedicated them good part of my life. You wouldn’t believe me but I had in total of 23 bikes through my life so It makes me an expert in selling as a private seller. Usually you will have to choose between selling fast and getting more money but there are some tricks to make speed up the process and get maximum possible money for the bike.
VI: We knew that you are the right person for us! Shall we start?
Matt: Of course. Well, like when you sell any other vehicle, first thing you need is to prepare your paperwork and by that, I mean to collect every possible piece of paper. Everyone asks for this and if you prepare it in advance you will save a lot of time. That documentation includes:
-ownership – which is the legal document with your name and motorcycles VIN.
– Bill of sale – you can find samples online, just make sure that it clearly states the date, the VIN, the price, the names of buyer and sellers with their signatures.
-safety certification – vehicles can be sold “as-is” or to be certified by a mechanic. I always go for latter since certified vehicle can be insured and plated in instant so it inspires more confidence in buyers and you can sell it for a bit more of money.
-past history – whether you maintained your motorcycle in a garage or by yourself, you should keep receipts for service and parts. This will show that you maintained motorcycle carefully as you claim.
-miscellaneous- extra keys, service parts, service manual, etc.
One of the most important papers (which sellers often forget) is the VIN report. It completely backs up everything you tell the buyer about the bikes history. Even if your bike was damaged in accident or there is something wrong with it being honest and showing the report will get you a lot of bonus points with the buyer.
VI: Alright, that’s the first step. After we collect all paperwork, what we do next?
Matt: Next step is to create ad that says all and create it everywhere you can. Write details about history, conditions and mods. Upload minimum of five or six photos which shows every part of the motorcycle clearly. This will save you a lot of time because you won’t need to email people with photos individually. Go for accurate photos to sell your motorcycle. People like ads with lot of photos and the fewer the surprises are when he sees it in person, the happier the buyer will be. Also consider selling your extras separately. If you don’t need money fast, you will probably sell extras for more money and end up ahead of your asking price.
VI: Those are some nice advice! What should we do when we meet buyer in person?
Matt: This is where the fun starts. You should identify if the buyer is serious and then identify their interests. If he looks logical then talk about practical features of your motorcycle. If he is impulsive his mind probably needs help justifying what the hearth wants so you do your best to help him. When it comes to test ride, have a policy for test ride and it should be that if a rider wants to test it he must give you sum of cash as a guarantee that he will return the bike undamaged. Also, be aware that the modifications you made probably hold no value. For buyers, the deviation from stock means less reliable bike. Remember, your mods are an expression of you – of your wants, feelings and taste. Unless you find someone with same taste as you, your mods hold no value.
VI: You really consider every detail. And how about negotiating a price?
Matt: That is your decision. Take a look on some ads and find bikes which are same as yours, see their condition and prices and then decide. My only rule is that you should never except low ball offers. You should make clear to yourself which is the minimum amount you can accept and remember – you decide, not the buyer. Also, remember that not everyone can pay you everything at once in cash. If it makes a difference between having or losing a sale you can take cash deposit and an agreement that the buyer will pay out the remainder by a set date. You can make a contract, similar to the Bill of Sale, which states the balance which should be paid on a specific date. This protects both of you, so you both should have a copy.
VI: Thanks a lot Matt. You helped a lot to first time sellers and even for experienced ones with your advice.