How to Calculate a Fair Price for Used Motorcycle
Do you want sell your motorbike but you do not know what price to put on it? Vehicles, as products or consumer goods, depreciate over time. In fact, it is considered that only by buying one and driving it out onto the street, its value decreases to just 18%. For this reason, it can be somewhat difficult to determine a fair price of a used motorcycle so that you can catch some buyers willing to buy your motorcycle. Make sure the price is also interesting for you. In this OneHowTo article we will tell you how to calculate a fair price for a used motorcycle - giving you some tips to help you sell it.
In order to calculate the price of a second hand motorcycle, car dealers often consult different statistical tables offered up by some private companies and, on payment, offer a target price on the tightest market price. It is a very useful tool that helps determine the most suitable price for the type of bike you want to sell, mileage and registration included. However, this type of program has a high cost and it is not worth it for private use.
You should be aware of aspects to consider when you determine the value of a vehicle. Here are a few:
- Depreciation of the motorcycle over time
- The price of a breakdown or repair
- Motorcycle model
- Year of enrolment
- Extras (if you have one installed)
With this information you can start to get a clue as to the real value that your bike is currently worth on the market with its current features.
We have already explained that, from the moment in which you roll the motorcycle out of the dealer's shop, the price starts to devalue. But it's not only the time that affects the sale price, other factors may accelerate the devaluation of a vehicle:
- Strident Colour: motorcycles with far too striking colours can make the market price decrease compared with a neutral colour.
- Scratches on the body: Any type of damage that the vehicle has, leads to the reduction of its market value, obviously.
- Tires in poor condition: there will be a decrease in price if the wheels are smooth (no grip) or in poor condition.
- No MOT Service: this also lowers the price if you want to sell a bike that will not pass an MOT or which does not have an updated maintenance book.
On OneHowTo, we recommend that the best time to put a second hand motorcycle on sale is, at maximum, the third or fourth year after purchase. Later, it will be difficult to find an interested buyer and for the price they will pay you, it is almost better that you simply ride your bike the until you can.
To calculate a fair price of a used motorcycle, it is easier and safer to go to a specialised workshop for motorcycles. They can do an assessment of your vehicle. You can also go to a sales shop so they can tell you a target price and help you determine the market value.
Generally, a vehicle loses 18% of its fair value once it leaves the shop, as we already indicated. During the first 3 or 4 years, its depreciation is 10% annually and, after that, the drop stabilizes to 5% annually. This data is not the same for all bikes as it also depends on other factors such as, for example, the market demand or the factors we listed earlier.
Another way to put a fair price on a motorcycle that has been used is by looking on the Internet. There are several online tools that can help you make a rough assessment of the vehicle, and they can help guide you to towards a fair price. There is another option: you can visit different sites which have sales to analyse the price set by other vendors on similar motorcycles. It is a good way to adjust to the market and know how the prices fluctuate too.
If you want to read similar articles to How to Calculate a Fair Price for Used Motorcycle, we recommend you visit our Motorbikes category.