Motorcycle Bill of Sale Form
A Motorcycle Bill of Sale form embodies the details in the selling and buying process of a 2-wheeled, motorized bicycle. Since the document is a crucial part of ownership, the buyer must ensure that it is filled out completely and honestly. The seller also has a legal duty to share repair work that the motorcycle needs to prevent legal consequences following the purchase. After the document has been completed and funds have been transferred, both parties must sign in order for it to be valid.
How to Sell a Motorcycle
Using these six steps, come up with an action plan and follow it to sell your motorcycle.
Step 1 – Make it Look its Best
Appearance has an impact when selling any item. Buyers naturally gravitate towards objects that are in good condition since they want to feel like they’re getting a good deal. They also want to feel like the previous owner took care of it so that it will retain its quality after purchase. When thinking about the specifics of a motorcycle, there are a few considerations to keep in mind. Unlike cars, motorcycles are more likely to rust and decay due to the weather since they do not have a cover. Therefore, being detailed during this step ensures that it is well-prepared for selling. Listed below are a few key areas to check out when getting the bike ready.
- Oil (Engine & Fork)
- Filters (Air & Fuel)
- Tires (Pressure & Tread)
Step 2 – Show it Off
Quality listings lead to a larger pool of buyers, which increases the chances of selling. A memorable advertisement is made up of a few key parts, including good images. While it may seem like an easy task to achieve, it can often feel challenging to know if a photo looks up to speed. Don’t be afraid to get opinions from family or friends, too, as they can offer another perspective. Along with their expertise, keep a couple of these tips in mind.
- Background: Remove all clutter from the area behind the motorcycle so it looks clean. Also, choose a background that is one or two colors to highlight the item.
- Utilize Flash: Brighter pictures are more enticing, so use the flash setting (even when outdoors) to produce a quality image.
- Center: Make sure that the motorcycle is in the center of the photo so it stands out to the potential buyer.
- Proximity: Close-up shots tend to be the most eye-catching. Closer pictures work better when showing specific details, like a bike chain or engine. Taking them farther away helps the viewer to gain a better idea about the overall motorcycle.
- Stabilize: Shakey images are not as appealing and cause the owner to seem less trustworthy. With that in mind, find ways to take well-focused photos. Camera stands can also be helpful to cut down on blurriness.
Step 3 – Determine its Value
Knowing how much your motorcycle is worth is not always clear-cut. It is easy to be biased causing you to think that your bike is more than its valuation. However, it’s important to remember that being realistic with the price will bring in the most buyers. No matter the situation, people want quality at the right price, so it’s beneficial to put in the time to determine this amount.
There are many online websites that help owners price their motorcycle. As a general overview, age, condition, brand, and make are just a few of the details that determine the value. Kelly Blue Book and J.D. Power are very popular sites that provide accurate pricing. If online sources do not appeal to you, local sources can appraise your bike. For example, nearby dealerships and peers with experience in the motorcycle industry can give you an estimate.
Since buyers are always looking for a deal, it may help to give them one. For example, offering used equipment along with the bike sale may bring in more people. Some ideas might be helmets, jackets, gloves, protection gear, or anything else that someone could use while using a bike. Simply ensure that the motorcycle apparel is clean and worth giving away.
Step 4 – Promote it
Having an idea of where to sell your motorcycle can make the selling process faster. There are many avenues to take when advertising an item, although some are better than others depending on what you’re selling.
If you take the online path, you will want to seek out platforms that promote a wide variety of motorized vehicles and bikes. Facebook Marketplace and eBay tend to be more popular and have more interested shoppers. While Craiglist and CycleTrader have their own benefits, they may lead to a quick sell. Either way, advertising as much as possible will help to get the word out there, so try to list the motorcycle on as many platforms as possible.
When selling locally, spend a good amount of time posting fliers and putting up yard signs. Frequent reminders to others about your sale will attract more buyers. While the advertisement doesn’t have to be perfect, it should look organized and eye-catching. Professional fliers make the seller appear more reliable.
Dealerships can also be a great place to sell a motorcycle. Note that the profit will not be as much using this method as the dealer will take a percentage to cover their time and energy. However, this option can be particularly beneficial for sellers who do not have the time to list or set up tours for the bike.
Listed below are the benefits and downsides of each service when advertising a motorcycle.
Pros and Cons of Advertising Services
|Craigslist||No fees; easy to sell||Not as many buyers; use caution with payment details to prevent the buyer from stealing the motorcycle|
|eBay||Large market; higher selling price||Value fees; reputation-based|
|Facebook Marketplace||Easy to use; fewer restrictions and no fees||Does not arrange payment or shipping; higher potential for scams|
|CycleTrader||Great when selling vintage or classic motorcycles; more potential for a higher listing price and profit||Smaller market; geared towards dealers|
|Local||Casual; seller receives all profit||Buyers may be more skeptical of the owner and less likely to tour the motorcycle.|
|Dealership||Serves as a great hands-off approach for the owner as they do not need to spend time listing or touring.||The seller collects less profit since a portion of it goes to the dealer to cover expenses.|
Step 5 – Set up Tours & Make a Deal
Unless you’ve decided to settle with a dealer, touring is one of the most critical pieces of the selling process. First impressions are everything with a potential buyer, so making sure that both yourself and the bike are presentable can help to make a great deal. Consider your bandwidth and what feels realistic for your lifestyle. Don’t schedule too many tours than you’re capable of in a day, as appearing calm, confident, and organized will increase the likelihood of selling. Being honest with the buyer is also critical. If it needs repair work, let them know. Also explain the motorcycle’s history, including major damages or accidents that have happened.
Eventually, a buyer is going to make an offer. When this situation happens, the seller must decide if they are willing to settle lower than their asking price. For this reason, having a strategy beforehand will help you to feel more confident and therefore, negotiate better. Once you and the buyer settle on a reasonable cost, take the final steps to secure the deal.
Step 6 – Finalize the Sale
After settling on a price, focus on the logistics of the sale. Fill out a bill of sale form, paying special attention to the mileage and condition. Another important area to spend time on is the payment details. Include when, how, and where the payment occurred to prove that the transfer happened. The last step is for both parties to sign the document. To further prove that the transaction occurred, you can have the document notarized, although it is not required.