June 25, 2024

Dagmar Rymasz

Market Leading Startup

How To Maximise The Resale Value Of Your Bike

How To Increase The Value Of Your Motorcycle - TouchUpDirect

Selling your bike can be daunting, even if you love it but need to part with it. When the time comes to secure the ideal price, act swiftly. If you’re unsure how to navigate this process, read on for tips on getting a fair value for your bike.

  • Refresh your old bike with paint treatments to conceal its age and significantly boost its resale value. This step is crucial to attract more customers interested in a well-maintained appearance.
  • Better grips might also be helpful. You can swap them for more robust, comfortable, and longer-lasting grips. This will increase the bike’s marketability in addition to its efficiency. The buyer will inspect the used bike to ensure it is in good working order even if he pays less for it. Verify that the grips and all other essential parts are in working order.
  • Prior to selling your motorcycle, ensure the chain is well-lubricated for optimal performance. Neglecting this step may result in decreased cost and performance. Luckily, oiling the chain is a straightforward task – just remember the correct protocols and follow them diligently to secure the best deal possible.
  • Store your bike in a clean garage, positioned correctly to prevent dust and dirt buildup. Improper storage can significantly impact your motorcycle’s efficiency.      S     o, ensure it’s kept in a clean, orderly, and functional environment.
  • If you ride your bike a lot, regularly assess its performance. This will provide you with an idea of the current situation. You can sell used motorcycles for pretty high prices if you guide the buyer in the right direction.

Valuation

Various factors impact a used bike’s price. Online tools and websites can estimate its resale value, or you can consult your local mechanic for their expert opinion.

Among the most important determining factors are age, brand, number of miles ridden, ownership, history of bike, third-party online insurance for bike, and overall bike condition. Recall that getting a fair price for your bike depends on your ability to negotiate, as well as the general condition of the bike. When considering how to maximize the resale value of your bike, it’s crucial to understand the role of Insured declared value or IDV in bike insurance, as it directly impacts the compensation you will get in the event of theft or total loss.

Documents

Ensure you have all the required paperwork to get the ideal deal for your bike. After completing the transaction, the documents need to be changed to reflect the new proprietor’s name.

Documents that are required include:

  • Registration Certificate
  • Certificate of Road Tax
  • Form 28
  • Certificate of No Objection
  • Form 29
  • Form 30 

You can visit the RTO office in your area for additional information.

Transferring the mandatory third-party online insurance for bikes as soon as possible is essential. The previous owner is liable if the sold motorbike is involved in an accident, but the third-party insurance coverage still needs to be transferred. Make sure you carry out      the process of online bike insurance renewal to have continuous coverage. *

* Standard T&C Apply

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.