July 28, 2021
Let’s answer this question right from the get-go, yes, you can trade your motorcycle for a car. You can trade it privately or with a dealer. What it boils down to is how much you want for the bike. Below we’ll answer some basic questions in this article: Trade My Motorcycle for a Car.
Should you trade your motorcycle for a car depends on what you need as a driver. Your needs change, whether that is because your family is getting bigger or maybe you’re just tired of the ride. Regardless of the reason, trading in your motorcycle for a car helps to reduce your car payment. It also, allows you to take advantage of the tax credit you receive when buying a new or used car.
As with any situation, there are negatives and positives to trading in your motorcycle to a dealer versus selling it private party. It all depends on value. Are you looking for ease or are you looking for a possible higher selling price?
Advantages of Trading in Your Motorcycle
Advantages to Selling Privately
If you are interested in learning more about private party sales, read our article: How to Buy a Used Car on Craigslist
To get the best value for your motorcycle you need to decide on the value you are comfortable accepting for both a trade-in and private party sale. The best move here, if you are trying to get the highest possible payout, would be to sell your bike to a private consumer. Like we said above, the flexibility you have negotiating gives you an edge when it comes to the final sale price.
That’s an easy answer. Yes! The trade-in value is determined by what condition your motorcycle is in and tools like Kelley Blue Book. Dealers are looking to help you find the car you want. Taking in your motorcycle as a trade-in is just a part of that process.
Yep! It is the same as trading in your car that still has a loan on it. You’ll work together with the lien holder to assess the value of your motorcycle. After paying off the loan you’ll apply what is left to the trade-in value. The loan must be paid off when completing the car deal. Subtract the loan from the trade-in offer and what is left is the value that is applied to the car you are purchasing.
Nope. According to the Washington State Department of Revenue (DOR), you can and still receive the tax credit when trading in your motorcycle for a car. For more info on how the tax credit on trade-ins works visit the DOR’s trade-in guide.
Whether you are selling it yourself or trading it in to a dealer, the process to get the bike ready is relatively the same. Make sure your motorcycle is looking fly before you show up to the dealer or meet someone to sell it. Dealers and private parties will be examining the bike thoroughly. Make sure you have it cleaned up and ready to go. This means cleaning up the dirt, grit, and grime you might have grown fond of over the years. Next, you will want to check those hard-to-see areas. Check under the seat, up under the fenders, behind the lights, and any other place you wouldn’t usually check. It may seem silly to you but put yourself in the buyer’s shoes. Being critical of appearance could help get you more money.
Check to make sure there isn’t any calcium build-up on the battery terminals. Also, try to buff out any light scratches and eliminate surface rust on chrome or metal parts.
Throughout this article, we’ve outlined the difference between trading in your motorcycle or selling it to a private party. Some of these points favor selling your bike privately but many of them lean towards trading it in. This is a big decision you are making and you must do what works best for you.
If you need a car quickly then obviously trading it in is the way to go. It is a safe and easy transaction that doesn’t require the extra time that selling privately will.
To get the most bang for your buck, sell it via Craigslist, Facebook Marketplace or any private party site is the way to go.
There is no wrong answer here. It is your decision and one that we are happy to have been able to help you make.Contact Us