Tips for Selling Your Motorcycle
Have You Ever Wondered? Vol 11
What’s the best way?
Selling your motorcycle, such as a Harley-Davidson, is a great way to make a solid return on your investment, especially today. The COVID-19 pandemic has caused significant production delays across several industries and the motorcycle industry is no exception. Because of decreased availability of new Harley-Davidson motorcycles, the price for pre-owned motorcycles has skyrocketed in the past 24 months.
If you’re considering selling your Harley-Davidson motorcycle, don’t get overwhelmed. Let’s take a look at the best options when it comes to selling your pre-owned motorcycle in today’s economy.
Selling to a Dealership
Selling your used Harley-Davidson to a dealership is certainly the safest way to go about the process. Although it depends on the dealership and their experience, you are likely to find that dealerships can accommodate a smooth transaction process. In fact, if you’re selling your used Harley-Davidson to a Harley-Davidson dealership, you’re more likely to get the top market value for your bike since dealerships need to fill their lots.
Selling to a Private Buyer
Often thought of as the route to take when you want maximum dollar for your used bike, selling to a private buyer is often fraught with difficulty. Shady buyers, credit checks, financing, insurance, and test rides are all potential issues that come into play when trying to sell your motorcycle to a private buyer. Of course, there are benefits to selling to a private buyer such as less transaction fees. However, the inconvenience and lack of protection can often outweigh the benefits.
Selling with an Online Marketplace
Selling your motorcycle by yourself on an online marketplace is essentially the same thing as selling to a private buyer, depending on the marketplace or platform you’re using. Some platforms (aka middlemen) offer some form of protection or insurance. Not all marketplaces are created equal, however. And oftentimes, these marketplaces require upfront costs to list the motorcycle, and then take a big piece of the final sale as commission. You are certain to reach thousands of potential customers, so the cost-benefit analysis is something you’ll need to determine.
What about Shipping and Paperwork?
Remember that without a dealership’s expertise or assistance, you’ll be stuck figuring out all the sales, insurance, and government paperwork yourself. Have you ever purchased a vehicle or motorcycle before? Then you’ll know exactly how much paperwork can be involved. Shipping your motorcycle can also be a headache after trying to find a trustworthy and cost effective (and available) shipper. Oftentimes, shippers look to find motorcycles or vehicles at your destination, so they can ship it back on their return trip to mitigate their own costs. Oftentimes, this causes a delay in the motorcycle being shipped to the new buyer.
Ultimately, by taking the guesswork out of completing paperwork, liability insurance, shipping, tax credits, and making sure you receive top market value, selling your used motorcycle to a dealership is likely the best option – by far. And if you’re looking to sell your used motorcycle, whether it’s a Harley-Davidson or not, come check out Peterson’s Harley-Davidson in Miami Gardens or at our Cutler Bay location.
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