Easy Ways to Calculate a Used Motorcycle’s Current Value
Updated on May 20, 2024 / 4 min read
The purchase of used motorcycles is beneficial for both buyers and sellers. Buyers can get them at lower prices than the market rate, while sellers can earn a profit if the market price has increased since they purchased the vehicle. That said, when selling a used motorcycle, one should ensure it is valued correctly. Doing so can increase the chances of attracting genuine buyers and getting a better price for the vehicle.
Finding the current value of a used motorcycle
Use online value calculators
Several online value calculators allow motorcycle owners to check the resale value of their vehicles. To obtain the motorcycle’s value using a value calculator, one must provide basic information, such as the brand and model name, year of purchase, and state of registration. That said, one should remember that the estimate generated using this method does not account for damages or deterioration of the vehicle. One should consider such factors separately and determine the accurate value.
Get the motorcycle inspected
While a person can estimate the value of their motorcycle by entering simple details on an online calculator, getting it inspected is essential because damages might lower the value. This step shouldn’t be missed, even if one’s motorcycle is apparently in good condition. A reputed inspection center or agency nearby can inspect the motorcycle thoroughly and inform the seller of any hidden repairs needed.
If the repair is inexpensive, one should get it done before selling the motorcycle. Repairing damaged components, such as headlamps and batteries, can increase the value of one’s vehicle significantly while costing a small amount. But if the repair work is expensive or not possible, it is better to lower the resale price and inform the buyer upfront about the issue.
Check the used motorcycle’s NADA value
The National Automobile Dealers Association, or NADA, is a trade organization that utilizes information about a used vehicle to determine its current resale value. Their portal can be used to check the values of different used vehicles, including used motorcycles, RVs, and cars.
NADA utilizes several strategies to provide a fair estimate of the used vehicle.
- Collecting market data from auctions, dealerships, etc.
- Considering vehicle details like the model, make, trim, mileage, and overall condition
- Evaluating its demand in the specific region where it is being sold
A motorcycle whose NADA value is known stands a better chance of being sold because people can trust that the resale price is fair. So, when selling a used motorcycle, one should check its NADA value.
Regardless of which method a person uses to estimate the current value of their motorcycle, they should keep relevant vehicle documents ready. This includes records relating to its maintenance, pollution checks, repairs, and part replacements. Access to documents makes it easy to enter information on online platforms and calculators and helps one provide handy insights to manual inspectors.
Factors affecting a used motorcycle’s value
Make and model
The motorcycle’s brand, make, and model year significantly affect its resale value. For instance, a popular brand’s motorcycle from an older model year might fetch a lower price than a newer model from the same brand. In contrast, if the brand is less known or not very reputed, even its latest models and trims may not sell at a good price.
Condition
Regardless of the brand and trim, a used motorcycle may not fetch a good price if it is damaged or poorly maintained. A well-maintained vehicle’s sales prospects go up by 10% to 20%. So, it’s important to maintain one’s motorcycle well and get affordable repairs done before selling it off.
Mileage
A motorcycle’s mileage, or the total distance it has covered, also greatly determines its resale value. If the mileage of a used motorcycle is low, its resale value is high. But if the motorcycle is quite old and has been used frequently, its mileage tends to be high, which might reduce its price. This is because when a vehicle has been overused, there’s a higher chance of damage and defects.
Motorcycle color
Sellers might underestimate this factor, but a motorcycle’s color plays an important role in determining its demand. Often, people prefer muted colors like black and gray over vibrant ones like golden or pink. Having a used motorcycle of an unusual color may make it hard to sell.
Ownership history
The number of previous owners of a motorcycle also affects the number of prospective buyers. So, if a motorcycle has had many owners before the current one, the chances of getting rejected are higher.
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