Save money when buying or selling a bike by going private
Save money by buying or selling your bike privately
16 January 2009 13:18
In the current economic climate everyone is thinking about price, value and making their money go further, so getting the best deal when buying or selling your bike seems more crucial than ever. That's why it could make sense right now to avoid the dealer floor and sell your bike or buy a bike privately.
Buying a bike
For buyers, going through a dealer does offer advantages, such as the chance of a warranty, better legal protection if there are any problems and convenient financing, but invariably the bike will cost you more than it would of done from a private seller. Dealers have overheads to cover and they can charge a premium because of the benefits you get for going through them.
This means that providing you use your head and play it safe, you can make great savings by buying privately. Never buy without seeing the bike, getting an MCN Bike Check done and meeting the seller face-to-face, ideally at their home address (which also gives you a chance to see how the bike has been stored). Don't risk it, look for standard bikes with good service history and paperwork. Chicken strips and hero blobs can give an indication of how hard it's been ridden, but not how well it's been looked after.
Optional extra features on ads in MCN Bikes for Sale like the theft check, 90 day warranty, 7 days insurance & 30 day breakdown cover are not only very valuable, they also suggest a serious seller.
Selling your bike
Sellers will find that they can get more for their bike by listing it privately. There may be bargains to be had from trading your bike in for another at a dealer, but on a straight sale they will have to give you a fairly low price for the bike to leave room for their profit margin.
Maybe you're in a huge rush to sell and happy to settle for a quick sale through a dealer, but otherwise put the word out with family and friends in the biking community, place an ad and you should easily be able to get a better price. For £9.99 you can advertise your bike with MCN online for 6 weeks and in the paper 1 week. Have a good look in MCN Bikes for Sale beforehand to ascertain the market value and decide on a fair price, baring in mind that buyers will want to haggle you down a bit.
A good picture and well written ad can go a long way towards attracting attention for your bike, as can MCN optional extras like theft check, 90 day warranty, 7 days insurance & 30 day breakdown cover. Scammers are fairly active these days so also be wary of getting ripped off- read the MCN guide on avoiding scammers and know what to look out for.
If you prefer the security and benefits that come with buying or selling your bike through a dealer, check back soon for advice on how to do it right and get the best deal.