Today we bring you tips on selling your motorcycle, should you sell it privately or trade it in?
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As we mentioned in the last episode, there are two big events coming up:
In June – The 1-2-3 Event where we are celebrating B2W’s 1 year anniversary, the 2nd annual Honor Flight Fundraiser for Alamo City HOG, and the 3rd anniversary for the Bike ‘n’ Bird YouTube Channel. This will be taking place on Saturday, June 22nd at Cowboy’s Alamo City Harley-Davidson here in San Antonio.
In October, the Bring it home Harley ride will be taking place at the Choctaw Casino in Grant, Oklahoma. This event is to bring home the World Record for the longest parade of Harleys, which is currently held by Greece. The OG crew, being led by Justin will be hosting The Texas Roundup, which is a ride from San Antonio to the Choctaw casino on October 4th, so please come out and join us for this ride. If you are not in San Antonio, you can join the ride at any part as we head up I-35 to DFW, and then east to Paris, and finally north to the casino. The event itself is on October 5th.
Selling Your Bike – Private Sell vs Trading it in:
Pros of the Private Sell
- More money in your pocket
- Person will pay more for accessories and customization
Pros of Trading it In
- Reduced sales tax on your new bike purchase
- Same day transaction – don’t have to wait for title to be released from lender, etc.
- Negotiating room on the price of the new bike
Cons of Private Sell
- Finding a legit buyer who has money can be difficult. There are people out there that just want to test ride the motorcycle, some of which may not have ever ridden before in their life.
- Scam artists – These bastards should be shot
- Length of time to sell can take some time. Justin is the exception here because he has a following, but the rest of us average joes, it can take weeks/months to sell the bike.
- Transaction takes a longer amount of time if your bike is financed
Cons of Trading it in
- Significantly less money in your pocket – Dealerships will typically pay you auction price or lower for your trade because they will have to make a profit
- You will not get the money out that you put in. We all know the majority of cruiser riders change out their intake, exhaust, and fuel management system; however, a dealership may give you 10% of the cost you put into those upgrades.
- Dealership funny business – The dealership has a lot of tricks they can play to ensure they are getting the most profit they can. They do this in the pricing of your trade in, the price of the new bike you are buying, the financing of the bike you are buying, etc.
Which would you do?
Roadblock – I am more of an informed impulse buyer, so I would normally say trade it in just because it is faster and easier; however, with that being said, trading in 3 bikes in 3 years, I no longer have the a high level of equity in my Road Glide; therefore, I would probably try to sell it myself first.
When do you trade up for a new bike?