Motorcycle Trade-In vs. Selling: How to Make a Smart Decision

Motorcycle owners may find they need to dispose of their current ride. They may choose to sell it or trade it in. What should they consider when making this decision? 

Each option comes with pros and cons. The owner must consider their financial goals and personal preferences. However, they must also take into account the effort that comes with selling the motorcycle in a private sale. When people realize what is involved in the process, they often decide that trading in for a newer motorcycle is the best choice. 

Trading the Motorcycle in for a New Ride

Most people find trading their motorcycle for a new bike the fastest and most convenient way to upgrade their ride. All steps are typically completed at the same dealership, so the owner saves time and gets to ride away on a new machine. The dealer guides the owner through the steps and handles the paperwork and financial details. 

The owner won’t need to advertise the bike or schedule test rides for potential buyers. They won’t have to communicate with those who express their interest in the bike or negotiate the price. An owner might also find that they pay less in sales tax when trading in their bike, as they may only be taxed on the difference between the price of the new ride and the trade-in value of the old. 

Nevertheless, this option comes with drawbacks. The owner typically won’t get as much when trading in the bike as they would in a private sale. The convenience comes with a price tag because the dealer must make a profit on the sale of the bike. Furthermore, owners have less negotiation room when trading their bikes. The dealer typically offers a set amount based on the bike’s assessed value. 

Private Sale

Once owners understand the benefits and drawbacks of trading their motorcycle, they may conduct a private sale. While this process takes time and effort, the owner typically gets more from the bike sale. In addition, they have cash in hand once the sale is complete. Recognizing the pros and cons of each option is essential when deciding whether to conduct a private sale. 

Private sales offer a higher return because the owner controls the price. They also have more control over the entire process, from the listing and advertising to the legal details. An owner may negotiate with potential buyers until they get a satisfactory deal. 

However, the owner must be willing to put the time and effort needed into selling the bike in a private sale. They must list the bike, interact with buyers, set up test rides, and complete the transaction. People who have previously sold cars or bikes find this process easier with each completed sale.

Working with potential buyers can be frustrating, as there is no guarantee they will purchase the bike. They may just be shopping around with no intention of actually completing the transaction, which can waste the owner’s time. Some buyers aren’t trustworthy or serious. 

The owner must oversee the legal transfer of ownership. People often don’t realize what this involves, making the process time-consuming. Some people need outside help, which lowers their profit from the private sale. 

Every owner must consider the benefits and drawbacks of each option. When doing so, they should consider their financial goals and the time they have to dedicate to transferring ownership. Trading in the bike offers convenience and speed, but owners make a higher profit if they conduct a private sale. Is the hassle of a private sale worth the extra funds it will generate? Often, this is the deciding factor for the individual.