Selling a motorcycle is a moment of happiness and sadness together. Happy because you are selling your old bike to get rid of it, and will have a chance to purchase a new one. On the other hand, it’s a moment of sadness because you are going to sell a possession that was with you for a long time, maybe.
However, I have seen a considerable number of people around me who have been cheated while selling motorcycles. A few days ago one of my friends advertised his bike online to sell. A buyer called him to see his bike and requested him to bring it to a certain place.
Once my friend reached the place, the buyer who wanted to purchase the bike stole it with a number of people by stabbing my friend. Can you imagine how inferior the situation was? So, when you sell your bike you have to protect yourself from fraud.
In this article, I have demonstrated How To Protect Yourself When Selling A Motorcycle, and what things you have to keep in your mind at that time. So, without any further intro, let’s move to the discussion.
How To Protect Yourself When Selling A Motorcycle
I have sold a few vehicles in the last two years, and most of those were motorcycles. So, I know better how to protect myself when selling a motorcycle. In this segment, I will share my experience that you can execute if you are supposed to sell your motorcycle.
Point No-1: Don’t provide anyone with your address until they call you by phone to arrange a meeting to meet you. It will ensure that you have at least their phone number. Besides, you’ll have an idea about how serious the buyers are about purchasing it.
Point No-2: Don’t reply to any email like “Is it Available Now”? Make sure that they give their phone number at least to call them.
Point No-3: Don’t accept lowball offers through email. People who have not even seen the bike asked a single question about it is a complete waste of time.
Point No-4: You can give your Vehicle Identification Number to anyone interested to check what the insurance is going to cost them.
Point No-5: If anyone asks you to bring your bike to a certain place to see, never go alone. At least keep a single person whom you trust with you.
Point No-6: Don’t test the ride until the price is fixed, and you get a certain amount as a deposit. Once the bike is tested, if there is something wrong, then give the money that you took.
Point No-7: Don’t give the ownership papers until you have the full price in cash. Otherwise, you may not get the rest of the money back.
If you can follow the tips I have given above, you can protect yourself from being cheated when selling a motorcycle.
Things To Pay Attention To When Selling Your Motorcycle
When selling your motorcycle, you must pay attention to a couple of things. This is the segment where I have mentioned some legal aspects to pay attention to while setting up your motorcycle.
Prepare The Paperwork
To get the best price for your motorcycle, you need to sell it yourself; thus, you have to manage a couple of legal documents.
Very first, you must have the motorcycle’s title, which is one of the most essential documents to prove the ownership of the motorcycle. If you don’t have the title, you will not be able to transfer the ownership of the motorcycle to its buyer.
The second vital thing is to ready the bill of sale which will work as a sale agreement where the purchase details will be outlined clearly.
In addition, you should consider accepting a primary deposit payment that will force the buyer to commit to the sale in advance.
Ensure The Registration Details of Your Motorcycle
Every state has a Department of Motor Vehicles to accomplish the registration of vehicles. For instance, in Florida, vehicles including motorcycles get registered by the Florida Highway Safety & Motor Vehicles department.
To generate your registration details, go to your local DMV with your motorcycle’s title number, and VIN and the system will automatically generate the registration details of your motorcycle.
Once you get the details, scan it to make sure there is no error before saving it for the possible buyer. If you find any issue with the registration details, let it know the DMV to resolve it as early as possible.
Verify Credentials Before The Test Rides
As the buyer will buy the bike, so it is simple to be checked. But before the test ride, you should verify the credentials of your buyer.
Check if they own a motorcycle license/endorsement, or not. You should inspect if they have a DOT-approved helmet or not. Besides that, don’t forget to check if they hold the right safety gear or not.
In short, ensure anyone who is supposed to test ride your motorcycle is experienced enough, and follow the safety rules, and regulations of a motorcycle to ride on a road.
Finalize The Sale
If everything is alright including documents, and price, then you can proceed to finalize the sale.
Before finalizing it, check the documents again, and be honest with your buyer, especially the person who has never owned a motorcycle before.
You can share important information about motorcycle maintenance to your potential buyer that may help him to operate it easily.
When it comes to payment, tell your buyer to give you in cash. If he wants to give you a cheque, then check it properly before taking it.
Once the payment is done, make a plan to ship it if the buyer’s house is far from your place. If it is near to you then it is not necessary at all.
There are many motorcycle owners I know who have been cheated when selling their motorcycles. It happened because they didn’t know how to sell motorcycles to a person who is unknown.
The maximum number of motorcycle owners who want to sell their old bikes advertise on social media to get clients. Some frauds take the opportunity and contact them.
I have given some tips above regarding the problem. If you are supposed to sell your old bikes in near future, try to follow the given tips above to protect yourself while selling a motorcycle.