February 15, 2020 - Vehicles
Many motorbike owners now and then run into situations when they have to sell their motorcycle either to earn some extra cash or their passion for the good old bike is over and they have recently spotted a brand-new model that they want to get their hands on.
People also tend to sell their motorbike when they are moving out of state or even relocating to a different country. In such circumstances, you want to sell your bike quickly and also at a great price.
People use many different ways to sell their motorcycles such as posting an ad online, using the traditional way of giving newspaper ads or talking to a dealership. Even after using all these avenues people are not able to sell their bikes quickly or at the right price.
There could be many reasons including too much time taken by buyers in scheduling their visits to view the bike or that many potential buyers come and take a test drive and end up not liking the drive or any other particular aspect about the bike. Sometimes the buyer likes the motorbike but needs some time to view other options or is not willing to pay the right price.
However, one should not be disappointed as their as another very effective way to sell your bike which is selling it at a pawn shop.
Pawn shops are a quick and easy way to sell your bike for some quick cash. When you opt to sell your motorcycle at a pawn shop, you rid yourself of all the worries about time and money you would invest in advertising your vehicle and displaying it to potential buyers. Not to mention all the test drives you would have to go through – the process is just too mentally and physically daunting.
Another major benefit of selling your bike at a pawn shop is that you can almost always expect them to pay you ‘cash’ rather than a check or a money order, making the whole process fast and efficient. Pawn shops are a one-stop-shop for buying or selling many different types of items like jewelry, smartphones, watches, etc. Hence, they have a vast customer base and can easily buy your product giving you quick access to some extra cash.
Pawn shops will buy your motorbike based on what they can earn after selling it to their potential buyer. Hence, they need to be convinced it is in good condition. Before you enter a pawn shop to sell your bike do your homework, such as presenting your bike in best possible manner and knowing your bike inside out.
Buying and selling bikes at pawn shops is a great business, all you need to do is find that perfect store in your area that would give you the best bargain for your bike. You can start by googling nearby stores and look for local pawn shops reviews identifying the ones that deal with bikes and provide a good bargain to their customers.
It is important that your bike looks good in front of the pawnbroker. How your bike looks can tell about how you used it. If it looks all nice and clean that goes to show that you kept it with care and in good condition. You can start by cleaning the body, rims, and tires with soap-water and then polishing with premium products till your bike shines. Try clearing any scratches or marks that may pose a cause for concern. You don’t want the buyer second guessing everything you say.
Pawnbrokers deal with many customers on a daily basis and know exactly how to price an item including a motorbike. When you take your bike to a pawnbroker you should make sure that it runs as good as new. Check with your mechanic and see if everything is in good shape including spark plugs, battery, engine oil, tire pressure. If your buyer knows that there is no major expense on the bike they would buy it quickly and also put a good price tag on it.
You should have all the legal paperwork for your bike handy in case pawnbroker wants to see motorcycle insurance or ownership details such as date of purchase and registration. Any initial documentation that you received with the motorcycle can be useful such as manuals or service warranty papers and the like. If you have an extra set of keys keep them with you on offer once the deal is finalized.
While evaluating the price of your motorcycle, pawnbrokers will look for any major defects in your bike or any mechanical problems that might be a concern for a potential buyer. They would figure out how much a motorbike of same make and model is priced in the market. You can check the prices yourself by visiting pawnguru.com.
While evaluating the price of your motorbike, the pawnbroker may also consider the time of year as well. In certain seasons the demand for motorbike goes down such as winter. Once satisfied with your product, the professional will offer you somewhere between 40 and 60% of what it’s worth in the market. If they really like your bike they can raise the price to 70% of the market value as well.
Selling your motorcycle at pawn shop can save you a lot of time and effort that you will otherwise put in advertising and showing your bike to different potential buyers. Even after all of the time and effort you put in satisfying your potential buyers, there is no guarantee that you will have a sweet deal on your hands.
David Stiebel is one of the cofounders of PawnGuru. David was educated at MIT, where he studied Math. He subsequently worked at Bain as a data scientist before starting PawnGuru in 2015. He started PawnGuru to build a better tool for pawn shops and consumers to connect.More Articles