Wait! Read This Before You Sell Your Bike on Consignment
As a motorcycle owner, your bike has given you a lot of enjoyment. But for whatever reason, you’re researching topics like “how to sell my motorcycle” or ” how to sell my Harley on consignment”. While we’ve created posts on most options to sell a motorcycle, we have yet to cover selling a Harley or motorcycle on consignment. Let’s take a closer look
What Does It Mean to Sell My Bike on Consignment?
Very simply, selling your motorcycle on consignment means allowing someone else to sell your bike for you. The party that does the selling is called a consignment company or a consigner. In most instances, you will pay them a fee, which usually is a percentage of the sale. They handle every aspect of the sale for you and conduct the sale on your behalf. Sounds good, right? Well, there are several things to consider before you decide to sell your motorcycle on consignment.
Consider This Before You Sell Your Harley or Motorcycle on Consignment
As the temperature cools off, the motorcycle market tends to do the same thing — take a chill. However, the desperation of scammers tends to heat up. Why? It’s the holiday season and everyone needs a little extra cash, but that doesn’t mean it should be at your expense.
According to a survey of Certified Fraud Examiners, increased financial pressure is the leading reason fraud jumps by an estimated 20% during the holiday season. Because of this, you should use extra caution when selling your bike on consignment. Use the following tips and best practices when selling your bike on consignment during the holidays or any other time.
Get Written Confirmation of Insurance
Before you leave your bike at a dealership or anywhere else, make sure you have written documentation that your Harley is insured while it’s being placed for sale. This is critical because if your motorcycle becomes stolen or damaged while in the possession of the consignor, some insurance companies may not insure it. The best solution is to make sure the consignor has it insured.
Ask for a Cash Offer
Ask the consignor or dealership to make you a cash offer for the motorcycle to determine if they can and will pay you immediately. If the dealership isn’t buying motorcycles at the time or doesn’t have the cash on hand, you should be wary. Why would you leave your bike with a facility or individual who doesn’t have the cash to cover it?
Get Confirmation of Responsibility
When you sell anything on consignment, it’s best for the consignor to take full, legal responsibility for the item. If the dealership doesn’t do this, you should be concerned and look for an alternative solution.
Consider Unqualified Buyers
Leaving your bike at a dealership or in a consignor’s possession can lead to a host of problems. One common problem is unqualified buyers are allowed to test drive your bike. In effect, your bike will be used as a “demo” vehicle the dealership relies on upsell to a different model.
Watch Out for Unrealistic Claims
While you know the value of your motorcycle, it’s important to be realistic about what you can expect to receive. If the dealership makes unrealistic or outlandish claims, you should be wary.
Does the Consigner or Dealership Have a Solid Record?
Before leaving your bike, it’s imperative you do your due diligence. Take the time to review the facility on social media and check out their customer reviews and testimonials. This can be extremely telling. You can also check out the facility’s track record with the Better Business Bureau for more insight. If anything seems fishy or too good to be true, you should consider other options.
Need Christmas or Holiday Cash? Cash 4 Motorcycles Has U covered
If you’re looking for the best way to sell your motorcycle or sell your Harley this holiday season, the team at Cash 4 Motorcycles can help. While dealerships will only purchase certain models during the winter season and individual buyers will offer you insulting amounts for your bike, we pay top dollar year-round.
We pay cash for all makes and models of motorcycles, ATVs, watercraft, powersport, and more. Here’s how it works:
- Based on where you live, we will come to your home or another location that’s convenient for you.
- After inspecting the motorcycle, watercraft, ATV, or other powersport vehicle, we will offer you a deal on the spot.
- We will issue cash, or a company check on the spot.
- We handle all of the title work and paperwork.
- It’s that easy!
Best of all, you don’t have to worry about whether a consignor is legit, or a scammer dressed in sheepskin. Instead, you can get the cash you need for your motorcycle without the headache.