Have you ever considered why the resale value of your motorcycle is less than a bike that is older than yours?
Your bike model is newer but still, the resale value is not what you expected. Well, it is true. You are not the only one who is worried about the resale value of bikes; there are many others who are facing the same problem.
That’s why we are here today, to explain why this is happening to you? Because, there are several factors that affect your motorcycle resale value, some of which you can control and some you can’t. So, without wasting any more time, let’s learn about these factors and understand the reason behind this.
The Age of Your Bike
The longer you’ve used your bike, the higher the chances of wear and tear. In simple words, after several years, a motorcycle has suffered through a lot and maybe has started showing signs of rust, loose electrical connections & wires, and worn-out parts, all of which affect the resale value of your motorcycle.
Moreover, the new bikes that are designed with modern technology and have an advanced measure of safety will attract buyers toward them more than toward your motorcycle. On top of that, the probability of the availability of aftermarket components for old bikes is very low. So, the resale value also varies with the availability of aftermarket components.
The only thing you can do is to maintain your motorcycle in the best condition you possibly can. Always maintain your motorcycle in good condition. If you have any problem at all, then repair it as soon as possible. This is the only way to increase the resale value of older motorcycles.
The book price also called the industry-accepted price is determined by many factors. One of them is outstanding finance.
Others are –
- Is your motorcycle imported or not? Because if it is, then it will affect the book price.
- If you have changed the license plate of your motorcycle, then consider this as a bad sign and stop expecting a higher book price because a changed plate indicates license disqualification.
- Any history of stolen complaints or new paint to hide body damage from a crash.
We all know that modifications to motorcycles are of two types. Design modification and performance modification.
For a time, the customer can understand the reason for a design modification. But, a performance modification will surely reduce its resale value. Plus, it is illegal in certain regions. When a customer learns about your modifications, the only thing the customer thinks about is that this bike has been treated harshly.
Yes, it is as simple as it sounds. If your bike is a limited edition and very popular among current motorcyclists, then you will get a good sale value, maybe as much as a good showroom price. But if it isn’t, then you can’t do anything about it. No matter, how well you have taken care of it or how good its condition is.
I hope you now understand some of the factors that highly affect the resale value of your motorcycle and you give some thought to these factors in the future when you decide to sell your bike.