Saying goodbye to your bike
South Africa's motorcycle market is under a lot of pressure at the moment. Economic constraints have avid motorcyclists holding onto their beloved motorcycles for longer, leading to fewer new bikes being sold and skyrocketing demand for used bikes. This means that those sitting with a bike they want to sell are in the pound seats and have the option of holding out for the price they want.
Related: Should you test ride a bike before you buy it?
When it comes to selling a bike though, consumers have a number of avenues that they can pursue during the sale of their bike. Below we have listed them along with their pros and cons.
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Sell privately
Selling privately will take longer, but you can most likely get the most money in return, as you are selling directly to a buyer who recognises the true value of the bike. There is quite some paperwork involved here, with e-Natis forms and roadworthy documents. Sellers can use classifieds, social media platforms, and sites like AutoTrader to facilitate the sale.
Sell to a dealer
This is the most common sale, wherein you trade in your bike on a newer model at a dealership. Some dealers will buy your bike from you, but be aware that the price will not be what you expect as the dealer will reduce the price for paperwork, technical issues,if any, and the overall condition of the bike.
Rules to sell your bike when it is still financed
Sell to a 3rd party buyer
Selling your bike to a 3rd party buyer will see you get your money back instantly, but they will also offer you below the perceived value of the bike in exchange for the convenience. These bikes are then resold at auction or on mega sales floors.
Verdict
As you see there are many ways to sell your bike and just as many to buy one. It all depends on how much money you want for your bike, how long you are prepared to wait for that price and how urgently you need to sell.
