Why you should Never Trade in your bike to a Dealer
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- เผยแพร่เมื่อ 11 ก.ย. 2024
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I know a guy that just recently traded in his bike. The dealer gave him $2500 for it, they did a service on it, detailed it up, and now it's listed on their website for $10,000.
bro are you serious
@@CourtneySturkey exactly how dealers work
@@DustyDesertRat Sounds a bit fishy. Its possible the laws dont overlap but in car sales there are consumer protection laws pertaining to how far below market value you can offer and how far above you can charge. I don't believe the laws are specific to cars but it's been a couple years.
Traded my bike at the dealer as they gave me what I wanted, I knew what it was worth and just didn’t feel like dealing with selling it to an individual, have done that with many bikes and it was easier to trade in
I trade to the dealer purely for convenience. I know I am losing money, but its typically trading toward another bike and its just less hassle. In and out, easy peasy
If you're selling your bike privately, just be sure to include the phrase "Sold As Is" on your bill of sale. It covers the liability concern. Another avenue is asking a dealer if they can sell your bike on consignment. You'll just have to negotiate their cut of the final purchase price.
X2 for the as is thing. I ve had people try to come back to me for money after the truck crapped out on them. Not my problem anymore... why do you think I sold it
I got full retail for my Scout when I traded it in. It was in great shape with low miles and they wanted to deal.
that's great
I just traded in my bike to a dealer. They offered $1,250 for it, at first. Then I negotiated the price on the bike I was getting down $2100. Then told them I wouldn't do the deal unless they offered me $2k for the old bike. They accepted. So basically they gave me $4,100 for my trade in, that I only paid $3k for.
Trading in any vehicle is not a good financial decision, people that can't even save $5k on their own are willing to lose that in a car transaction and end up paying interest on that extra 5k for the next 5 years. Never take a loan on a toy.
I feel safer trading a bike in, I don't want strange people seeing my things, checking out my garage. also I don't want to deal with counterfeit cash or bad bank checks. its a convenience thing as well.
Always meet up somewhere public, police stations are cool with you doing it there aswell so nothing goes wrong
That's a really dumb thing to say. There are very easy ways to tell if cash is fake or not...you would rather get way less for your bike? That's retarded.
ken bogart yea its personal preference. There are ways of getting around showing up at your house. Show up at the bank. Tell cash only, 100 dollar bills. No exceptions. The bank checks cash before accepting it. Then it is real easy to trade in though
I am totally with you! Fake money,swindlers,fake texters, time wasters, thiefs, and more, give us honest people a bad name! I need to sell my bike, but can't afford a bike payment.
The cost / risk factor too. A $5,000 bike, I'll try private. Chance the buyer will have the cash or Paypal or other method. A 15,000 + - I'm not trusting some stranger's check, I'm sure they wouldn't trust me to hold a check until it clears. I'd rather loose $3,000 and be guaranteed the money from the dealer then risk loosing $15,000 in a private sale. That's me though.
Here in Quebec, we have 2 sales taxes. Combined, they total close to 15%. It is really tempting to give your motorcycle in exchange since on 6,000$, you would save 900$ compared to the 360$ in the example. On 10,000$, that’s 1,500$!
I couldn't get any bites on my ninja 1000. Dealer gave me what I was asking plus several hundred dollars. Would have never sold it privately for retail price...
That's part of the problem too selling privately depending on your bike. Some bikes just aren't that desirable in certain areas. Good example: I bought my GSX-S750 from a dealer this spring with 7 miles on it, but it was "used" so I got it for 5700. They also had a newer VFR800 with about 700 miles on it for a killer price (6,000). It's still sitting there.
If buying for cash effectively it depends in what discount, added extras, you can get on buying the new bike straight.
It also depends on your bike, time of year etc.
If tied to finance deals it is more difficult.
@@Soulbreeze I live in a college town with lots of squids so yeah, you're probably right. Even though my motorcycle had more torque and horsepower than most super sports up to 9k rpm, it didnt have the prestige of a zx10, r1, cbr, etc. It was a great bike though. Very fast, torquey/ usable power band, and it was way more comfortable.
We traded in my wife's bike yesterday to a dealer we've bought from for years. She didn't look over the paperwork real close, but when we got home, I was looking over her papers and saw that the price he allowed for her trade, he had added back to the asking price. That was before any taxes and fees. So, he basically got her paid off bike for nothing! How would you handle this situation? Thanks
i feel safer trading in the dealer,people can kill you for your bike,steal it,or just find out where it is and then steal it
Man sounds like you need a new Neighborhood
Good point though. If people want something they're going to get it
Lot of used bike dealerships will do consignment sales. You won’t loose much money because the bike will probably sell for more and you get zero headaches
That's gotta be the dumbest shit ive ever heard..
Yeah i heard a story about Craiglist add, it was a job offer on a farm in Ohio, someone who was interested got killed on that farm so basically, killers created a fake job offer on craigslist just to kill someone , now how fucked up is this? Same shit happens with motorcycles, cars and other shit.
I know this is an exception to the rule but I recently traded in my 2002 Yamaha for $500 more than I paid and about the same I could get for it in a private sale.
Srkcycles, what if the bike you want is a left over & already on sale (under full msrp) is the dealer more motovated to give a better offer on your trade to make a sale & move inventory? Like all your videos & your fz07 in the green versys 650 video has a super sweet exhaust sound!!!
In Tennessee when you trade in you only pay tax on the difference. Here that is around 10%. So if you get 10 for your bike trade in, it is like selling it for 11.
I never trade in bikes or cars and I rarely come down on my price, bottom line I'm not desperate and I really don't care if it takes a while to sell it. Also, I pay cash for everything even homes. TheReaper!
Because they'll rip you off. A local Dream Machines only offered me $2500 for a 2012 Honda Shadow Phantom with 5k miles on it. Freakin mint condition. I sold it for $3400 privately and I still could have technically sold it for $4000 but I was impatient.
Traded in two bikes last month bought bike added large cash. Lol. Couldn't be more happier. No bills no kids at home helps. Lol. In the wind man
Have you ever had someone who got in over their head and have to return a new motorcycle after 4 months?
Do you ever straight up trade motorcycles....? As in a customer wants one (lesser priced) for theirs?
+Rafael Orozco yes that sometimes happens
Is this a saved born again owner?
Lol
When you trade into a dealership and if they pay off the balance you still owe on that do you not?
Great info, and yeah 9 out of 10 times you'll always make out better with a private sale. Then if you were to do a trade in.
I want to start buying and selling bikes on the side where do you buy your bikes other than CL I’m working on getting my dealer license
2013 electraglide cvo 11k original miles it's the orange one with nice bars exaust tune 👌 trade in 9k on a big markup new bike 14k to the public if I could ever find someone with more than two nickles it's not even worth it payed 21k last winter 😂it's mine now never again
Hey thanks for this, my question is: Why are modifications not worth a penny more when installed on the bike when selling to a private owner? (Or dealer if mod is legal)
They can be, but not nearly what you invested. In order for that to work the buyer would need to have the same taste as you to appreciate the mods. But in a dealer situation they would definitely not give you any more for mods, you might have bad taste and not know it!
How's it going? Get your thoughts on something? I've got a 2015 Kawasaki Ninja ZX-6R 30th Anniversary Edition great shape small scuffs on left side runs great has 5078miles. I have it for sell $7,000. Thinking about going to my local dealer see what they would give me for it. I put on rumble on they would give me $5400 for it. To low for me. Should I give it some more time for spring? What do you think is a fair price for the bike? What do you think is the lowest I should go? Not in a big hurry to get rid of but it would be nice to sell it. Thanks for your help. Stay safe
What if you got a new motorcycle with a loan and after 400 miles decide the bike was not for you?
Sounds like you bought a grom
you shouldn't buy a bike based on impulse......now deal with that shit.
Do you buy bikes privately, I’m thinking about selling my 2016 Roadking due to a back injury. I know pretty much it’s value, less than 8000 miles, cosmic blue pearl paint. Multiple seats and windshields.. luggage racks and back rest. In Harrisburg.. I due own a little money on it yet also.. SRK respond if interested.
What about having a dealer sell your bike on consignment?
I do…..every year….sometimes twice😂😂😂😂❤❤
Question: what do you recommend for 2 up cruising: comfortable, affordable, ease of use, handling, maintenance costs, etc.? I have a couple of bikes but really plan to do something else next year. We looked at a goldwing, voyager, indian, harley, and spider. I liked them all for different reasons. I will buy used as I am not going to spend 30-40k on a bike. In fact, I will want something much less than this. What are my options and best fit?
The ninja 300 is a perfect choice for a 2up ride. Please go ahead and purchase my ninja 300 and youll see what i mean
Do u have a bike that u would trade for a Honda xr 500 but i have no money to have payments i want to do a straight trade
Do not, the same rules apply when buying a car???
I hope you have a bike I'm looking for when I'm ready to buy - might ship it or might fly out there and drive it home, we'll see :)
that be awesome
Can I trade a bike to a dealer but not buy a bike? Basically just sell the bike to a dealer? Or is there a place that can do a cosignment? Thanks! I watch all the video's! Subbing too!
any used motorcycles dealer will buy your bike but don't except to get much $ from stealers.
I’ve been unable to sell my bike. It’s 18 years old and a smaller metric cruiser.
2000 Suzuki VZ800
+Elijah Brooks try reducing the price
Needs to be priced right. You may be expecting to much.
Yeah but for less than $1200 I’ll keep it. 2000 Suzuki VZ800 great rider worth more to me. So I’ll save up and eventually add a DR650 bike.
That's the problem we know their worth but others don't see that in a value. Sometimes we just need to bite the bullet to move on😩
I’m trading mine in….i have a written guarantee to get msrp on the bike if I trade in..l in 12 months.. gonna do it next week,.
Great advice
Do you guys allow customers to test ride bikes? Or do you post up the the test ride videos to bypass that all together?
Excellent SRK. I'm a walking dealership myself. Always Looking to buy fall n winter sell in spring or summer.👍 Just a few a year, basically I'm looking for The ONE! For me; it's a tough call. I have an 05 C90T and a 06 18VTXS3. I wanna keep both. I totally got the fix on the poor c90's poor charging systems. Mod3 and go! Love both bikes but the VTX is very fun. Harley destroyer, just saying. I like all bikes.
Anyone has to be crazy selling a motorcycle in the winter. I had a honda xr125 on e-bay in the winter was going to go for £800 so i withdrew the bike and made out it had sold elsewhere. I put it back on start of the summer with a fresh MOT got £1,351
dealers are just a gimmick, however i do sell my bike at only $80 a motorcycle, when god see that, and i bought 2 nice bikes at cheap price, whatever we do god have see it, if you rid off someone and one day you will get rid off by someone, god always watching us, do good return with good reward do bad you will get bad return
I have a 2002 Yamaha R6 with 38k miles. Its in excelent condition and very clean and taken cared of all the time. Whats it worth?
ALIMMOTO look it up on motorcycle kbb
Rand he just said he could only give you a ballpark answer. He can’t give you a real number without looking at it.
It won't be worth much around 16 years old and that a fair few miles for a motorcycle in that state of tune. i would think 2.5 -3k tops. £'s or $'s. It's not easy to sell old supersports
600 bucks!!!
Do trade in values lessen for aftermarket parts put on the bike?
+Anthony S sometimes
I have 2013 iron xl883n with 3600miles is there any kbb for motorcycles so I know it’s value when I’m trading in my bike for another bike?
I know it's been 7 months so you probably already sold that bike but yes there is KBB for motorcycles.
What about consignment sales? I've seen some dealers selling consignment. How does that work?
+Josh Davis that doesn’t solve the problem of selling the bike fast, but could be a good solution to getting paid
What ninja is that in the background and is it your daily bike?
Minestra's Corner ninja 300 and its listen on their website for sale
So...what’s the point of the video if you state the positive about Dealership Trade-In Values? Ballpark This: Time is Money and Trust the Dealer or Invest your Time!
P.S. Obviously I’m a Dealer but those Likes are Butt Hurt about their Value. And about that Value - Banks and Insurance conspire to lend on Value, not how much Money a bike has added to it by the Butt Hurts.
+H J I’m giving pros and cons of both sides. Maybe pointing out things that not everyone knew. I want my customers and viewers to be as well informed as they can be
I got a kx65 and want to trade it for an 85 tried dealership and he said he'll try and sell it if I send him pics but I ow 2800 and am trying to sell it for 4,000 myself l, my total is 4800 once payed off so I listed it for 4800, people keep offering 3,500 because that's what the sales tag says 😫😕
Well.. this video didn't age well.
I need help with regards to private selling, it’s my first time ever doing it as my R3 is the first vehicle I’ve owned.
My friend wants to buy it for about 3500, and that’s more than what I expected to sell it for. I just don’t know what steps I’d have to do & be responsible for in the process. I know I’d take my plate off & tell my insurance company about it, but other than that what do I do? Any help is appreciated, can’t find anything on the web
Is Rumbleon a legit company to sell your bike to?
Good to buy from but dont expect much on trade ins. They are a legit company though.
@@edrisjohnson3858 thank you
legit but they usually rip you off for example bike is worth 7.5k retail by KBB and trade in worth is 5,2k they going to offer you $3k for that bike which is BULLSHIT!!!.
Would you sell a bike for a customer for a percentage
+Papi Chulo no I would not
@@Srkcycles I asked because I have done this with a dealer in Delaware I wanted $7,000 so they put my bike for sale at $8495 and I got all my $7,000 worked out great for both of us because it sold in 2 days
Recoil lol? I think you mean recourse...
Gurn Blanstein ...or remedy...
Dude, get to the point! Biggest problem with amateur videos, no script. Ramble on.