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Selling your used bike? Get the most out of it!

If you’re planning to buy a new bike and want to also get rid of your used one- you will probably be left with two options – one to trade it in and two, to sell it. (If you are generous enough you could give it away on charity or to your cousin.)

If the bike is not very old, is of a popular model and is in good condition, selling it yourself is the better option. However, if you think you’ll have a hard time getting customers, you may trade it in. Even then it is a good idea to try selling it yourself first. Since dealers who trade in your bike will have to repair, clean and advertise your bike, selling a bike yourself will fetch you an additional sum of money.

To get the most value from your used bike, here are some things you should do.

Check the performance of your bike. The prospective buyer might want to take a test ride. If something is amiss with your bike, get it repaired.

The better your bike looks, the better the price it’ll fetch. Wash your bike thoroughly and wax it up. For better results, pay attention to the little details too. For example you can open unscrew the light covers and clean them up too. Use proper tools for this procedure; you wouldn’t want to damage anything in these last minutes!

Check your bike for any repairable flaws. Get someone else to inspect it for any flaws you may have over looked, before you invite potential buyers.

Set a price you want to sell your bike for, also set the maximum amount you will be willing to reduce on your selling price. The older the bike is, the more its value depreciates. If you have any doubts while setting a price, look up other ads to know what price other sellers are fetching.

The next step in selling your bike is to advertise. Choose a media to place your advertisement – newspapers, magazines or the net are some of the more popular choices. The advertisement should include a short description of your bike’s make and condition and your contact address. Also mention the price the prospective buyers can expect.

Once the advertisement is published, be prepared to answer the phone calls of the prospective buyers. Be prepared to answer questions regarding the bike, its history and other relevant information. Let them know what they can expect. If they are interested, make an appointment with them.

Of the many appointments made, only half will show up. For those who do, show your bike to them. Some may even want to take a test ride and some may even want to have it tested by a mechanic. By all means, these are normal and reasonable requests. Do not get offended. These will help them come to a decision.

Negotiate with the prospective buyers. Tell them your selling price and tackle them as they try to make you lower your cost. Do not appear too rude and also do not appear too eager to reduce or desperate to get your bike sold.

With these tips you will definitely be able to get a better price on your used bike.

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