7 Bike Selling Tips Made for You

You decide to sell your bike for many reasons, such as relocation to a different city, finding an upgraded model, or finding it is no longer helpful. If you have decided to sell your bike and want to enjoy the best resale value, this article is for you. Read on!

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7 Things to Know Before You Sell Your Bike

To make your bike selling procedure smooth, have a look at the below tips:

  1. Find the Right Buyer

    This is the first and the most crucial step while selling your bike. Finding the right buyer means the person should be interested in buying the used bike at the same price you wish to sell it. You can contact the interested party directly or find a dealer available online.

    If you plan to sell your two-wheeler to the dealer, they will find a buyer for you, check the buyer's authenticity, sort out the paperwork & do all the other formalities to make your sale successful. However, if you make it on your own, ensure that you make the right deal, take the details of the interested buyer correctly, and make the sale at the best price without paying a commission or dealer's fee.

  2. Get Ready with the Required Documents

    Once you find a suitable buyer, the next thing you will do is get ready with the documents required. Below is a list of documents that you must keep handy while selling your vehicle:

    • Bike Ownership Certificate (RC)
    • PUCC (Pollution Under Control Certificate)
    • DL (Driving License)
    • Sales agreement
    • Bike Insurance Policy
    • Other documents (might vary from dealer to dealer)
  3. Negotiation

    You should negotiate the prices with the buyer or dealer for the best deal. For a better understanding of the resale value of your bike model, you can refer to the prices online and then set the price accordingly. You can even contact your friend who has recently sold their bike.

  4. Repair all the Mechanical Issues

    To ensure the buyer's and your safety, bike repair is one of the crucial steps you shouldn't miss. Always inspect your bike by an authorized professional mechanic.

    Tyre alignment, brake fluids & pads, lubrication control cables, chain tension, battery check, etc., must be checked thoroughly. Along with it, clean the air & engine filter and change the engine oil. In simple terms, ensure your bike is in its best condition and gives maximum output.

  5. Transfer Your Bike Ownership

    At last, stick to the offer and ensure you have prepared all the bike-related documents in the buyer's name. You will need forms 28, 29, and 30 from RTO to transfer the bike ownership.

  6. Transfer Your Bike Insurance Policy

    If your buyer resides in your state, you will need to transfer thebike insurance ownership in 14 days, and if the regulating party lives in a different state, then the duration exceeds 45 days.

    To transfer your bike insurance policy to the buyer, submit forms 29 and 30 along with the Registration Certificate of your bike, emission test papers, passport-size photo, and other mandatory documents to the RTO. The authority will verify all those submitted documents, and if everything goes well, they will transfer the bike insurance ownership to the new bike owner.

    Moreover, if your bike insurance policy is expired or lapsed, make sure you ask the buyer to buy at least third-party bike insurance online, as it is mandatory policy in India.

    You can also readBike Ownership & Bike Insurance Transfer Process

  7. Last Step- Present Your Bike in an Excellent Way

    Usually, people forget to make their vehicle presentable in front of the buyer. The appearance of your bike helps determine its condition. When selling your bike to the dealer, it is crucial to clean and polish parts, like- spikes, wiring, cables, signal lenses, and all the other things with a clean cloth.

    However, if you sell it in an online portal, you must upload HD-quality pictures and videos of the vehicle with a good phone camera. This will help the interested buyer to know the bike's condition from every angle. Add your details to the online portal so the potential buyer can easily connect with you.

Key Takeaways!

If you want to make your bike sale deal successful, consider the above-discussed points and get the best value for your asset. Also, ensure that all liabilities and risks are transferred to the new bike owner.

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^The renewal of insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for a transaction may vary subject to additional data requirements and operational processes.

^The buying of Insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for transaction may vary subject to additional data requirements and operational processes.

#Savings are based on the comparison between highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.

*TP price for less than 75 CC two-wheelers. All savings are provided by insurers as per IRDAI-approved insurance plan. Standard T&C apply.

*Rs 538/- per annum is the price for third party motor insurance for two wheelers of not more than 75cc (non-commercial and non-electric)

#Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.

*₹ 1.5 is the Comprehensive premium for a 2015 TVS XL Super 70cc, MH02(Mumbai) RTO with an IDV of ₹5,895 and NCB at 50%.

*Rs 457/- per annum (1.3/day) is the price for the third-party motor insurance for private electric two-wheelers of not more than 3KW (non-commercial). Premium is payable on an annual basis