Did you buy your motorbike several years ago? If so, there's a good chance you no longer know how much it's currently worth if you put it up for sale. Looking at comparable models for sale online might give you an idea of the price, but they are not identical to your bike, so it's essential to understand what factor can impact how much you can ask for.
Here are five things that might impact your bike's worth.
1. Age
Motorcycles lose value fast in the first year or two after purchase, but this should level off after a few years. As a result, one of the most important criteria to consider when assessing the value of a used motorcycle is its age. Before it is shot to bits, a bike has a lifespan of around five years of regular riding. When properly cared for, however, it may survive up to 15 years.
2. Previous Owners
In general, the more owners your bike has had, the lower its worth will be, although this isn't always the case. Simply examine your V5C registration or logbook to find out how many prior owners have handled your bike.
3. Mileage
When it comes to second-hand motorcycles, one of the essential variables to consider is the mileage. If it is around 20,000 to 30,000 kilometres, it is on the higher end. On the other hand, bigger bikes should only have a mileage of 50,000.
Obviously, the more kilometres a bike has travelled, the lower its value becomes. Try to keep track of your vehicle's mileage as you drive it, and if you know you'll be selling it soon, you might want to limit your long-distance excursions.
4. Condition
A used but well-maintained bike, like any other vehicle, will retain its worth considerably better than one that has been neglected. Consider how the motorcycle is stored in addition to cleaning it frequently and performing all essential repairs. A bike snugly housed in a garage, for example, is protected from the weather, which will, of course, increase its worth.
5. Service History
The more information you can offer about your motorbike’s service history, the more likely you can get an accurate price estimate. You can better understand how well the bike has been cared for and how big of a danger it is by looking at the service history. This is why it's critical to save as much paperwork as possible and have the documentation on hand when it's time to evaluate your bike’s condition.
Repairs, customisations, and alterations are all examples of services that can affect the final cost. If your bike has gone through any changes, make a note of them and, if feasible, take photographs of them.
So How Much Will a Used Bike Cost?
The final cost of your used motorbike will change dramatically based on these factors. However, as a general guideline, you may get bikes for as little as £700 and as much as £7,000. A good standard motorbike with no issues will cost between £2,000 and £4,000.
Conclusion
A variety of factors determines the value of a used motorcycle. Still, it ultimately boils down to the demand for that specific make and model, as well as the condition in which it has been maintained.
If you want to know the best way to sell a motorcycle, you can check out We Buy Motorbikes. We centre on used motorcycles bought and sold from commuters to superbikes, enduro, custom, sports, and touring. We cater to all makes, all models, any condition and any age. Talk to us now!