10 Essential Factors That Can Affect The Resale Value Of Your Motorcycle:
You will find a lot of experts on the internet dealing with car and commercial truck appraisers, and there is no doubt that the majority of people love cars. Like cars, there are also millions of motorcycle fans worldwide who love to shop classic motorcycles for antique collections. If you love your motorcycle and are planning to resale it in the future, you must get a motorcycle appraisal by typing “Motorcycle appraiser near me” on Google. You will get a lot of options on the internet. But before you can select one, it is quite important for you to understand what factors can affect the resale value of your vehicle.
Life is unpredictable; hence you never know you might face an accident. Fortunately, you escaped with a minor accident, but your vehicle is severely damaged; hence you can use an appraisal to gain a better resale value for the vehicle. In this blog, we will discuss the top ten essential factors that can affect the resale value of your motorcycle.
1: Overall condition of the vehicle:
Without any doubt, the vehicle’s overall condition will be the first and foremost factor that will decide the resale value of your motorcycle. Generally, motorcycles that look good are loved by motorcycle enthusiasts, which means if your motorcycle doesn’t have good looks, you will hardly find any buyer in the market.
If you plan to sell your motorcycle in the near future, you will have to clean it before advertising. Apart from washing the motorcycle, you will have to also focus on lubricating the chain and repairing dents and minor repairs to make the motorcycle look new if you are expecting returns on investment.
By now, you must be well-aware of the fact that your motorcycle must look beautiful to get a better resale value, but you will have to also consider the cost of repairs because you don’t want to spend hundreds of dollars on repairs because it will not have a major impact on the resale value of your motorcycle. If you think that you can hide its accidental history by repairing your motorcycle, then you are wrong, as your insurance claims are enough for the buyers to reduce the resale value.
2: Market Ethics:
Whether you are selling your home or a motorcycle, you will have to research and gain an in-depth understanding of the market. Before you decide the resale value of your motorcycle, check the price of the same motorcycle on the internet, which has not undergone any accident or repairs. Suppose you can find too many similar motorcycles in the market. In that case, you will not get the most favorable price as classic motorcycle collectors love to go for motorcycles that are unique or special as it is worth it for them to invest. The rules for used motorcycle markets are simple: you cannot expect a good price if you don’t have a rare motorcycle.
3: Solid Advertisement:
The advertisement of the motorcycle must be efficient to attract all the buyers; hence you have to pay equal attention to the advertisement of the motorcycle. Whether you are going online or offline, you will have to upload a clear image without editing. You have to also use a natural tone and speak the truth about the motorcycle when you are writing the description.
Tip: Go for a bright background when you take a picture of the motorcycle to make the image look attractive.
4: Mileage:
Like the condition of the motorcycle, the mileage also has a huge impact on the resale value of the vehicle. Generally, most modern motorcycles provide 4000 – 6000 miles every year, but the age and the condition of the motorcycle can also affect the mileage. At the same time, modern bikes can also maintain a good mileage, making them a favorable option for purchase in the market. Maintenance, driving style, and accidental history of the vehicle can also reduce the mileage of the motorcycle.
5: Impact of modification on the motorcycle:
Most motorcyclists love to modify their bikes for personalization, but when the concern is about reselling, the bike collectors would love to purchase a bike that is original and has factory specifications.
The demand for factory specifications also increases when the concern is about vintage or classic motorcycles. If you are planning to sell a vintage bike, you can join all the original parts, which can increase the value of the vehicle, and sell the spare parts separately.
Buyers also love to negotiate for original body parts; hence you should never go with heavy modifications to win the best price in the market.
6: Accessories of the bike:
Apart from the modifications, certain accessories can also add a lot of value to the vintage bike. For example, big BMWs with add-ons attract heavy buyers as they are loaded with all the necessary add-ons to make driving easier.
7: Best time for sale:
It is hard to tell, but there is a perfect season to sell your motorcycle in the US. Generally, bikes love to shop for new motorcycles in summer and use them throughout the year before winter draws in; hence the chances of getting a buyer are high when you advertise and sell your bike in spring or summer.
8: Nostalgia is a vital factor:
Every one of us must have had a nostalgia or a special taste for a specific motorcycle when we were in high school or under graduation. We had less money and more love for the motorcycle, but now as we are financially independent, we might look forward to buying our first love. It is clearly evident that motorcycles that are two or three decades older can hit the market hard; hence buyers would love to spend some extra dollars for their dream to come true. For example, Suzuki RGV250S and old versions of Honda bikes are quite popular in the classic motorcycle market.
9: Uniqueness:
Quite similar to the trade and other factors, the uniqueness of the motorcycle also plays a vital role in deciding the resale value of the vehicle. Few bikes which might have failed during a new launch might be in demand in the future. For example, bikes like Yamaha GTS100 were a failure during its launch, but today it has a huge demand in the market. In simple words, if your bike is not unique, you cannot demand a higher price because there are hundreds already available in the market.
10: How do new models impact the resale price of older models?
Undoubtedly, the launch of a new model has a major impact on the resale value of the older model. It is human nature as we all love to invest in a bike which has the latest features. If you have a three or four-year-old model, selling it can be risky as the company might be on the verge of launching a new motorcycle. As the manufacturer decides to launch the new model, they will reduce the old model’s price to make way for newer versions.
So, now that you know what factors can impact the resale value of your bike, it is the right time for you to search for, motorcycle appraiser near me on google to get your bike appraised. Let us understand the significance of a motorcycle appraiser in detail.
Importance of a motorcycle appraisal:
If your bike has recently been involved in an accident or you are going to sell it in the near future, it is the right time to get the bike appraised. Your insurance company will provide all the money to get your bike repaired, but how can you get a claim for the loss of value. In such cases, a motorcycle appraiser can help you in getting a claim from your insurance company.
On the other hand, if you are selling your bike in the near future, having an appraisal can help you in getting the best value for your motorcycle. A certified motorcycle appraiser is highly-qualified to evaluate the value of the motorcycle, and they also provide the estimated value of the bike in the market. There are various motorcycle appraisals available in the market, but the two most common types of motorcycle appraisals are total loss and custom motorcycle appraisals.
Total loss appraisals:
If the cost of repairing the motorcycle exceeds the motorcycle’s value in the market, your insurance company might declare your bike as a total loss. In such cases, your insurance provider might offer a one-time settlement. A motorcycle appraiser can help you in getting better returns from the insurance company.
Custom motorcycle appraisers:
Used motorcycle buyers and sellers also opt for motorcycle appraisals when they cannot conclude the deal. For sellers, appraisers can ensure that they get the value they deserve, and for buyers, a motorcycle appraiser gives peace of mind that they are investing in the right bike.
Are you looking for a motorcycle appraiser in California?
Benchmark Auto Appraisers LLC is the leading automobile appraiser in California. They provide appraisers for all vehicles, from semi-trucks to cars and RVs to motorcycles. Book your free consultation right now at 1-877-888-6113.
Daniel “Dan” Jendrowski
Certified Public Auto Appraiser Diminish Value Experts B.C.A.A. & I.A.C.P.
For FREE Consultation with your “Motorcycle Appraiser Near Me “, call
