Motorbike owners believe their bikes are simply treasures, but when it comes time to upgrade and sell, your bike’s resale value may be viewed a little differently by others.
The resale value for your bikeis affected by a number of factors, some of which you can control and others you can’t.
Age of your bike
The longer you have used your bike, the higher the likelihood of damage, wear and tear.
After years of active use, a motorbike is very likely to have problems such as rust, worn-out parts and loose connections in the electric system.
If your bike is older than 10 years, you will get a low resale value. Newer bikes obviously have a better resale value.
This is not only due to less wear and tear, but also because newer bikes have been produced using modern methods, have better technology and advanced measures of safety. These features are more attractive to buyers.
There are also some collector bikes that get more expensive with age. They need to be maintained in original condition to achieve their highest resale value.
This is the industry-accepted price for your bike. It is determined by many factors.
One factor is outstanding finance. Is your bike fully owned by you or is it being paid off?
If your bike is imported, this will also affect its book price.
Have you ever changed the licence plate for your bike? This can reduce the value of the final book price because plate changes can indicate a licence disqualification.
Any history of changing the colour of your bike also affects its final book price. This is because a fresh coat of paint can be used to hide damage from accidents.
If your bike has been stolen, this is on record and negatively affects its final price.
Bike owners are often enthusiastic about modifying their bikes to give them a personalised look. Generally, modifications can affect the final price of your bike. If they increase its overall performance or looks, then they will push up its final resale value. However, if they are quirky and only appeal to you, then they will negatively affect it.
Also, be aware that performance modifications can be illegal, which reduces the value of your bike. Performance mods also indicate thebike may have been raced or treated harshly which can reduce its value.
Demand for your bike
Some bikes are much more popular than others. Those that have been highly popular on the showroom floor when new will also have a higher resale value. Bikes with high demand also include limited-edition models.
If you take good care of your bike during your years of ownership, you are likely to get a good price when you sell it. Take good care of your bike and your efforts will bear fruit when you finally sell it.