With a huge range of new bikes models being introduced every year, it is always a temptation for the bikers to own the latest model. As per an industry report of financial year 2021, two-wheeler vehicles sales have recorded as a vehicle type that recorded maximum production in India. Owing to the higher demand, various types of two-wheeler vehicle models are offered to the enthusiastic bikers. The leading manufacturer in 2021 was Hero MotoCorp by launching the most popular Splendor motorcycle model. With the availability of Bike valuation tool like Orange Book value (OBV), bikers find it convenient to sell their old bikes at a fair price and upgrade their wheels.
Basics of Used Bike Valuation
Two-wheeler owners often find it difficult to part with their bikes, but when the time comes to sell a bike after a few years, it becomes important to take up the entire transaction with absolute practicality. Carrying out extensive bike valuation is important to ensure that the deal is fair and the price attained from the deal is justified. For this, you can check used bike price on OBV, it will give you a fair idea about the estimated market price and you can make an informed buying or selling decision. As basics, the paperwork should be in place along with numerous other factors to reach an exact figure.
Factors that Are Important to Check Used Bike Price
Bike valuation is highly simplified and present the bike price which is close to exact price that a buyer is liable to get. It is recognised as a huge second-hand market wherein bike valuation is done with so many extras, especially the case of selling used adventure bikes. This is for the simple reason that these come with hand guards, panniers, engine guards or extended windscreen which tend to escalate their reselling prices. Some of the other factors to assess the resale value of a second hand bike on an individual’s end include:
- Maintenance is the key: Apart from considering the basics, the overall resale value of a bike can be assessed as to how well-maintained and timely serviced it is as per the manufacturer’s guidelines. It might sound as an obvious consideration, but never missing out on servicing is a bike shoots up its resale value and assures the buyers that the vehicle is smooth and rust free.
- Get a Quote: As a seller, as a convenient option one can visit second hand online vehicle price assessment portal such as OBV to get free quotes. For exploring further, one can also try if the bike valuation is higher if sold privately. It is also important to consider that how many bikes or similar/upgraded models are being sold and at what price. Generally, if you are taking out value for used bikes, the following factors are chained together:
Age of the bike, its Make and Model, distance travelled so far, overall physical condition, existing driving condition, history of service, insurance details, and ownership status (first-hand/second-hand)
Also Read: Purchase Used Cars in Bangalor
Checklist of things for Exact Bike Evaluation
The pointers below present a concise checklist that can help a buyer or a seller to assess the exact resale value, negotiate wiser and advertise smartly to attract a better deal.
- Sound condition of wiring, sprocket and drive chain
- Good condition of tyres and damage (if any) to the wheel rims
- Soundness of the front end of a bike such as lights, indicators, bar ends, brake and clutch levels
- Updation for frame rust and any sort of leaks present along with overall paintwork on its exterior
- Engine condition that is inclusive of block, plugs and radiator
As a pro tip: It is always advisable to quote a relatively higher price to leave a scope for inviting better bids from the buyers. If a bike’s condition is good and the paperwork is complete, expecting a good quote is not unrealistic.
Conclusion: So, to help you out the bike buyers and sellers, we highly recommend to check used bikes price at second-hand vehicle quote online tools like OBV. The price quoted by these online portals is done after considering factors like number of previous owners, its entire service history and overall condition. Seeking help from such online price quoting websites assist the sellers and buyers to maximise the value derived out of these transactions.