Certain reasons have contributed a lot to expanding the second-hand vehicle market. Along with cars, people tend to buy used bikes, considering them a good option under certain circumstances. Demand of used bikes increased since last 2 years due to Covid situation. Overall, in India, 15 million bike units are sold in 2021 which is a big number.
Used bikes have significant advantages over new models. Along with being budget-friendly, you get similar features as the new model of similar series. People prefer to buy used bike over new one and now with the availability of used bike valuation tool people can check what real worth of any used vehicle.
Selling your bike can get you a significant amount if you can grab a perfect deal. To determine a bike’s worth, you can check used bike price on OBV to estimate the money the bike would be giving you on its sale.
However, various factors are meant to be kept in mind while you look forward to generating more money by putting your bike on sale.
These factors include:
- Maintenance of vehicle
Chain: The wearing of the chain is a major indicator showing that the bike is not maintained well. Neglecting the chain results in premature wearing and tearing of the chain. The chain comes in complete contact with the drivetrain, which leads to damage.
Properly lubricating the chain using oil and bike lube provides longevity to the chain’s life. You don’t have to make oiling a complex process but for better results, cleaning the chain properly and applying the oil in the links is important. It may be a time-consuming process but would yield better results.
- Avoid riding a bike during downpour:
Fresh mud can harm the parts of modern bikes and jam them. Therefore, riding a bike should not be considered during rain, though it sounds like a tempting idea for many people. Riding your bike frequently through muddy and watery parts would make maintenance more costly if you plan to sell your bike.
If you don’t have any choice other than traveling by bike in the rainy season, clean it thoroughly to get rid of the grit and muddy layer. Do so by washing your vehicle with water at low pressure and opt for hand drying. Also, pay attention to the more prone parts to water seepage. Bikes with jammed parts would pay you less than usual.
- Maintaining the grip
Make upgrades in the grips to get a good price for your bike while selling it. After a certain period, grips start to lose their efficiency and, therefore, you must replace them with new ones that are more long-lasting and pleasant to use.
The customers tend to check for the functioning of the grips while purchasing a second-hand bike. That is why do not let the operating capacity of the grips decrease the vehicle’s market value.
- Analyzing the overall performance
If you ride the bike frequently, do a performance evaluation frequently at definite time intervals. It would help provide an idea of the current condition of the motorcycle. Furthermore, an impaired performance would help you identify the fault and rectify it on time.
- Getting the valuation done
A bike price calculator is utilized to get the valuation of your vehicle done. Many of them are available online, so make sure to select the authentic ones. These calculators consider certain factors that determine the resale value of the bike.
The tools determine the age and brand of the vehicle, insurance history, all-over bike condition, ownership, and kilometre run. The price you get for the vehicle further depends on the vehicle’s condition and the way you negotiate with the buyer.
You can take the advice of a local mechanic and get to know about the price value of the bike and the changes you need to make to increase it.
To get the best deal, make sure to have all the necessary papers and documents associated with the vehicle. After the transactions are completed, these documents would get transferred to the new buyer’s name.
The documents required are:
- Registration Certificate of the bike.
- Documents associated with the insurance.
- Road Tax certificate.
- No Objection certificate.
- Form 28, Form 29, and Form 30.
For additional documents, you have to contact the local RTO branch.
Selling your motorcycle at the highest resale value may require you to employ some time-consuming processes, but that is worth the money you would get after the sale of the vehicle. Second-hand bikes that are well maintained catch the eyes of the customers in no time and help you in getting a great deal.
Many of the sites offer the function of checking the bike’s resale value, and it is hard to identify the trusted ones. Among the list of authentic sites for this purpose, you can use OBV app also.
Make sure to complete all the formalities before you sell your motorcycle to escape any issues or troubles in the future.