You should known exactly what the resale value of that new motorcycle is before you buy it. Out side of rider compatibility, resale value is probably the most important aspect in buying a new motorcycle. The reason for this is that when the time comes to trade your motorcycle for a new one, you will want to know that you will get what your motorcycle is worth, and you will not owe anything that will be tacked on to the end of your next motorcycle financing. I can assure you that in most cases you will not get what you think your motorcycle trade in is worth. An example of this is, I bought a new Honda VTX 1300S in 2005, and in 2007 I wanted to trade up for a new Yamaha Raider.
I went back to the Motor Sport dealer that I bought my VTX from in hopes of getting a great trade in offer. Even though I had purchased my motorcycle from them, the best the dealer could do was giving me $4800.00 trade in for my used motorcycle. I stilled owed roughly $6500.00 on the VTX, so I would have had to tack the difference on to the end of my financing for the new Yamaha Raider to pay off my Honda VTX or pay the difference out of pocket. I did have one other option though, and that was to sell the Honda my self to get what the bike was worth. The option to sell my Honda out right was the best way for me to get the best return and assure that I could pay off my motorcycle before I financed the new Raider. However, with all of the special incentives and deals on new motorcycles offered by the dealer, trying to sell my used VTX was easier said then done.
I parked the VTX in the parking lot next to my house with a for sale sign on it. The road was busy with a lot of traffic. I did get an occasional passerby to stop and look at it but no calls or offers came in at all. Next, I put an ad in my local newspaper. It was not that pricey, but it wasn’t cheep either. I ran my ad for a couple of weeks and didn’t even get one call. Roadrunner has a classified advertisement section; so I placed an ad there as well, still not luck. I was just about to give up and go back to the dealer, take my losses and get my new Yamaha when I decided to try one more thing. I went to Google and I did a search for used motorcycles. I was amazed at how many used motorcycle auction portals and classified websites there are on the Internet. I did a bit of investigating and found a couple of motorcycle-classified webpage’s that looked promising. I was a little surprised they really weren’t very expensive at all. I placed an ad with a photo, price, and contact information and in just a few days, I started to get interested callers. I did finally sell my Honda VTX 1300S and I did buy the Yamaha Raider. I could have saved my self a lot of work and worry if I had done my homework, shopped around and bought a motorcycle with a better resale value. However, since I didn’t, selling my used motorcycle my self and getting the retail price for it was the best option.
If you are like me, you probably want to get as much out of the sale of your motorcycle as you can. The first thing you need to know is what your used motorcycle is worth. You should go on line to the Kelly Blue Book webpage and look in the motorcycle section. You could also go to the NADA guides on line, again go to the motorcycle section and look up your motorcycles make, model and year, and get the retail value. You can also find out the trade in value of your motorcycle just in case you do decide to trade it in. Once you know how much to ask for your used motorcycle, take a little time before you start to advertise and do a bit of investigating. Look for local publications, newspapers, and web page classifieds where you might be able to place an advertisement.
Compile a list of these classified sources. Find out how much it will cost to place an ad in each one. Find out if they have any testimonials or if you can contact some one that has posted an advertisement in their classifieds and made their sale. If you find a good news publication or webpage classified that has a great record of selling motorcycles then the chances are good that you will sell your motorcycle as well. Once you find where to place your motorcycle for sale ad, you will need just a few things to get the best bang for your buck. First, you need to think about and write down what you want to say in your ad. “Motorcycle for Sale” just will not work in today’s highly completive used motorcycle market.