Selling your own bike vs trading.

[danh600]

You guys have much luck selling your own bikes? I have normally just traded when getting a new car. A bike is a little more affordable for someone looking so maybe I should sell it. I am still thinking about going to a bigger bike.

So my Honda Shadow Aero - 15,300 miles. A few VERY minor scratches. Excellent mechanical condition.

So here is what I am finding

KBB.com       Trade in  3655
                   Retail     5315

NADA           High Retail 5510
                   Low           4190   

Cycle trader tried to give me a virus

Craigslist shows a range from 4-6k mid 4s to low 5 mostly. Most listed are a year or two older then mine but less mileage. 

Anybody want to throw out some numbers? What is the minimum I should take on trade? What should I list it at if I decide to go that route?

[Zarticus]

I'd post it up for sale on craigslist, local paper, ebay, ect. You can always lower the price so I'd start a bit above the minimum that you would take so you have some negotiation room. When you trade they make it sound like your getting a lot for your trade but it's just a game they play with the new bikes price on paper. They have a bottom line they will take on a new bike, If they really want to sell & you know how to play their game they will go to that price with or without your trade. So basically you usually GIVE them your bike. If you sell your bike for say $4500.00 & then negotiate them to their bottom line you then put the $4500.00 down & you come out way ahead!!!!!. If your bike is worth a bit of money like yours then the best I've ever seen anybody do is get about 50% of what their bike is worth on trade. You will then see them selling your bike later on for what it's really worth.   

[v65infla]

Dan,

I'll think your  numbers over and give you my opinion in a bit.  For the time being, I have two school of thoughts for you.  First, every dealer I have talked to recently all say that used bikes are flying off of the shelf due to the higher gas prices.  This is good news for you and should allow you command a higher sale price.  The issue with this is dealers have financing options that you can't offer so you are limited to buyers that have cash or have access to their own financing such as a credit union.  Second thought is that dealers are hurting on the new bike side of things so you should be able to command a pretty good deal on your bike.  Because now they can move a new unit AND have an used bike to sell.  Make sure you negotiate purchase price of the new bike and the trade in of your bike as two separate issues.  Probably the one mistake I made when buying the ST.

Last, make sure you shop around and don't be afraid to travel to buy a new bike.  The gentleman I purchased my Highway Wings from last weekend, had a deal on a new GW and was going to save $2,500 by going to TN, to buy it and that included his travel fees there and back.  He ended up with an even better deal in Miami and he lives in Melbourne.  

I learned so much over the last month about buying new bikes that if and when I am in the market it again, I would make a list of dealers through out the entire state of Florida and then a list of every single state I wouldn't mind visiting and start calling.  Also, I was told you can go online with Honda and get pre-approved financing and this can be cheaper than the dealer financing because it takes their % out of it.  A dealer ready to sell a bike will reach a deal with you over the phone before you travel.  

[v65infla]

Do you like to fish?   
I would put it up on CL for $5,995 for a week or so and see what happens.  

[niteman]

I have had no problems selling vehicles on my own thus far. This includes two bikes and a car (granted, one of the bikes ended up as a private trade for another). It just irritates me to have a dealer offer me half or less of what said vehicle is actually worth. 

I sold my '03 Honda civic for my exact asking price over craigslist within two and a half days of posting it. Zero hassles, guy paid cash. Dealer offered me less than half, but that's how they make money.

Back to the motorcycle topic though. Bikes, by nature, are a bit of a harder sale, so it takes more time. With more people riding that could change. When I sold my '83 CB650SC I think it took about three weeks and about half a dozen appointments where people came to check it out. It sold for about $100 less than asking price and I was happy.

If you're not in a rush then I would recommend craigslist, ebay, and forums and try to avoid trading it in. In my experience most dealers would rather move the stock they have on hand without taking in trades and adding to their inventory.

Trading in = easiest, least hassles, least money
Selling yourself = a little harder, a few hassles, most money

Oh, and for price I'd start around mid 5K's and go down as you see fit. Always ask for more than you really want out of it (within reason of course).

Good luck man!

[danh600]

Thanks guys you have some good points. I use to work at a car dealership years ago. So I know lots of the tricks of the trade.

I really don't like selling stuff myself, but sometimes you just lose too much to trade. I have had good luck and bad selling stuff. I actually sold one of my son's cars and my Mom's car for good money when the dealers low balled them. I sold my boat pretty easy a few years ago.

I have also had bad experiences. I sold a couple of sea doos a few years ago. That was a nightmare. Most people that called were not actually looking to buy. They wanted to take a Sunday afternoon joy ride. Basically up front I would tell them I needed a $1,000 deposit. We would go over them at the house. They could inspect them and crank them up. If they wanted to go for a ride it was $1,000 up front. If they performed like I said, then the sale is final or I keep the $1000 dollars. That stopped the joy riders.

However I had several people schedule appointments for the weekends and either be very late or not show. I must have killed 3-4 weekends waiting around on people. On guy scheduled for Sat, then called and moved the appointment back, then moved it to Sunday. Then tried to pay me with a personal check.  Yea, right buddy. I am going to take a $9,000 personal check from someone I don't know. Whole weekend wasted.

So any way on the motorcycle. How do you guys treat test drives? I really don't want someone I don't even know riding my bike.

So would it be ok to do something like this? First, ask to see their motorcycle endorsement on their license. Ask about riding experience, etc. Then ask for a deposit before the test drive.

Really letting someone test drive the bike is almost a deal breaker for me. Makes me jut want to trade it.

[Croz]

I see a lot of "cash in hand and motorcycle endorsement required for test drives" on Craigslist ads. That's what I did. The buyer chose not to ride it before buying.

I have also seen "you can hear it run and see me ride it." Not sure if I would buy a bike in that case though. If it had shifting problems, etc., the previous owners know all the tricks to hiding them.

My bad experience from selling my bike was the guy kept my phone number. Every problem he had with it, he started calling me.

That said, if I were selling my current bike today, I would sell it myself. I am too cheap to take the hit on trade in values.

[v65infla]

Dan, I put in my ad's; "No test rides!".  Then if I choose after talking with and meeting someone, I usually offer one up.  I have yet to meet someone that wasn't sincere but they are out there so this gives you the option of allowing the test drive after you have met them and can take a measure of their character.  The last one that I sold, I had the guy hand me his car keys and left his g/f standing there with me.   

[danh600]

That sounds good Jamie. I was more worried about someone wrecking then stealing the bike. But what you said sounds good. You can normally get a feel for someone after you met them and talk to them a bit.

[Zarticus]

If I'm looking for a bike & the ad Say's no test rides then I'm not going to waste my time even calling!!, Just state your test ride conditions in the ad Every bike I've sold I put in the ad cash only, I hold their license & the cash while they test drive, I tell them if not back in 15 minutes I'm calling the cops. Another thing if your worried about them stealing it is you can hide your cell phone on the bike & the police can track it if your phone is on, Hide it in a saddle bag or even put it under the seat before they show up!!.   

[v65infla]

If I'm looking for a bike & the ad Say's no test rides then I'm not going to waste my time even calling!!, Just state your test ride conditions in the ad Every bike I've sold I put in the ad cash only, I hold their license & the cash while they test drive, I tell them if not back in 15 minutes I'm calling the cops. Another thing if your worried about them stealing it is you can hide your cell phone on the bike & the police can track it if your phone is on, Hide it in a saddle bag or even put it under the seat before they show up!!.   

If you call the cops they will laugh at you and tell you it is a civil matter.  Once you hand over your property willingly it now becomes a contract which can only be upheld in a civil court.  Of course if you have the cash, you are covered anyway so it is a mute point.  "No test rides" keeps the pretenders away and people that are serious motorcyclists understand as they look at it from both sides of the equation.  You always have the option to relent which I usually do but only after meeting the person.

"No joy rides" might be better language to use than "No test rides".  Still gets your point across but isn't quite as restrictive. 

[danh600]

Yea, I see where no test rides might be too restrictive. No joy rides or test rides after deposit might be better language.

Calling around and seems there are not a lot of Honda Interstates in stock. Got a couple dealers going to call me back. We haven't even got to $$$$ yet. I am thinking they are not going to be in a big hurry to give a deep discount unless a bike has been sitting around for awhile and it doesn't sound like these are.

[v65infla]

Dan,

When I bought the Highway Wings from Ken, Larry's buddy last week in our conversation about buying new bikes.  One thing became apparent and that is, it pays to be willing to travel.  When he bought his GW, he was going to save $2,500 buying it in TN and that included his travel costs.  You can get pre-approved on line and I wouldn't be afraid to do a fly in and drive home anywhere for a better deal and with the cheap airline flights being offered.  Greeneville Honda where I got my ST has at least two Interstates right now.

http://www.greenevillehonda.com/new_vehicle_list.asp?sid=06837274X6K10K2011J10I49I23JAMQ3429R0&Manufacturer=1&Category=1&CatDesc=Motorcycles

I also understand that Southern Powersports is hard to beat.  They are currently offering a dollar per mile travelled reimbursement up to $200 to buy from them.  That should pretty much cover a plane ticket. 

http://www.southernhonda.com/index.htm

Hard to beat getting a new bike and a trip at the same time.   

[Zarticus]

If I'm looking for a bike & the ad Say's no test rides then I'm not going to waste my time even calling!!, Just state your test ride conditions in the ad Every bike I've sold I put in the ad cash only, I hold their license & the cash while they test drive, I tell them if not back in 15 minutes I'm calling the cops. Another thing if your worried about them stealing it is you can hide your cell phone on the bike & the police can track it if your phone is on, Hide it in a saddle bag or even put it under the seat before they show up!!.   

If you call the cops they will laugh at you and tell you it is a civil matter.  Once you hand over your property willingly it now becomes a contract which can only be upheld in a civil court.  Of course if you have the cash, you are covered anyway so it is a mute point.  "No test rides" keeps the pretenders away and people that are serious motorcyclists understand as they look at it from both sides of the equation.  You always have the option to relent which I usually do but only after meeting the person.

"No joy rides" might be better language to use than "No test rides".  Still gets your point across but isn't quite as restrictive. 

I guess the cops down there are Dicks, My buddy was selling his bike a couple years ago & the buyer took it for a test ride & was gone over a half hour at which point he called the police, They had him pulled over in 10 minutes just down the street, Winds up he was on his way back to buy it when the cops pulled him over. The guy wound up buying the bike & had a great 1st ride story for his new bike to boot!!. I would put in the ad "No joy rides" & if they are serious hold onto the full cash amount while they test drive, If they want you to trust them with your bike then they will understand that they will have to trust you with their cash!!!!