How to Sell My Motorcycle for Cash?
If you’re here, you are likely in need of fast money. The good news is there are a few ways to sell your motorcycle for cash.
However, it’s important to note that several factors can affect if and when you can do so.
For instance, if you’re selling a bike with minimal modifications, that is in popular demand, during riding season, you will have a greater chance at securing a sale.
Naturally, different scenarios require different methods. To see which selling option is best for you, continue reading below!
Before You Get Started
Keep in mind that to sell your motorcycle, you need to have ownership of it. So, check the title to see if there is a lender or are additional owners listed.
If there is a lender listed, you’ll need to pay off the lien before you can sell it. And, if there are multiple owners, they’ll also need to sign over ownership via the title for the sale to be legal.
If you find that you have outstanding payments, check out our post on how to sell a motorcycle with a lien on it for advice.
1. Pawn Shop
One of the fastest ways to get cash for your motorcycle is to sell it to a pawn shop.
Keep in mind, pawn shops prefer to buy items that are easy to sell. A model that is in good condition and high demand will increase your chance of making a deal. They also don’t buy motorcycles with a lien on the title.
Also, pawn shops often have limited floor space. So, it’s a good idea to call in advance and see if they sell/buy motorcycles or other Powersports vehicles.
One great advantage to selling at a pawn shop is that it’s typically an easy process. Simply go up to the cashier and have them take a look at your bike. Then, they’ll either make an offer or decline.
So, if time isn’t on your side, you may want to try this method first. Just be mindful that if a buyer senses your urgency for money, they may make an offer below the true value of your motorcycle. So it’s best to know how to negotiate.
For tips on how, check out this post on how to get top dollar when selling your motorcycle.
Another option is to sell your motorcycle to a dealership.
To sell your motorcycle to a dealer, it’s best to make an appointment first. The process of purchasing at a dealership may take a few hours, so make sure you set aside enough time to complete the deal.
And, when you call in, ask what method of payment they use. Instead of giving you a wad of cash, they may choose to pay by check.
This is important because, depending on your financial services provider, it could take a few business days for the funds to be available in your account.
One of the pros of selling your motorcycle to a dealership is that you can negotiate with someone who also knows motorcycles. For instance, a pawn shop employee may not know the actual worth of your motorcycle and make an offer that you find too low.
On the other hand, dealerships have overhead fees which affect how much they are willing to spend on inventory.
3. Online Motorcycle Marketplace
The best place to sell a motorcycle for cash is via an online motorcycle marketplace, like ChopperExchange.
Within the online motorcycle community, there is a general understanding that sellers prefer to be paid in cash. This is how they can stay clear of motorcycle buying scams.
This method may not be the fastest, it will provide you with the most qualified leads. Although, we have had customers who were able to sell their bike in a matter of a few days or weeks.
And, when you sell on ChopperExchange there is no need to visit multiple pawn shops or dealerships in search of the best offer. If you receive multiple offers on your listing, you can simply choose the highest bidder.
When selling privately for cash, it can be as simple as meeting with the buyer, completing the bill of sale, signing over the title and collecting the money.
Now that you know how to sell your motorcycle for cash, which method do you believe will work best for you?
Let us know in the comments below!
For more detailed advice and tips on the entire selling process, check out our guide on how to sell a motorcycle.