What You Need To Know Before Bidding On a Motorcycle
If you are considering to buy a motorcycle for yourself, there are literally thousands of options to choose from. Rather than paying full price for a brand new bike, browsing an online motorcycle auction can help you get better products at a lower cost. But is this always a good option?
What are things that you need to be aware of when choosing online motorcycle auctions?
You may not always get a chance to get a close look at the motorcycle
When it comes to online auctions, the closest that you can get to inspecting a vehicle is by visiting pre-sale exhibitions or displays. You may not be allowed to test the bike or have it inspected by a professional. However, different auctioneer websites have different terms and restrictions regarding this process. Understanding this beforehand can help you make a well-informed decision.
Most motorcycles are sold in an “As-Is” condition
This means that the auctioneer or the seller does not take any responsibility for the vehicle once it is sold. Therefore, it is imperative that you understand the condition and quality of the motorcycle before placing a bid.
You may not have much time or options when it comes to completing your payment once your bid is awarded
If you are the highest bidder, you may have to complete the full payment as soon as the auction is finalized. Though most auctioneer sites today offer flexible payment terms, understanding the restrictions beforehand can help you avoid losing out on good deals.
Auctions normally end up selling vehicles at values much higher than their actual worth
With a live auction, you can see intense bidding among the interested buyers. Though the process is more streamlined and easy in an online auction, bidding war results in bid values much higher than the actual worth of the motorcycle. How do you avoid overspending? Try to figure out the actual worth of the motorcycle with research or by consulting expert opinion. Then, set a budget and ensure that you do not bid above it.
What to look for in a motorcycle during online auctions?
Online motorcycle auctions today sell products ranging from a few hundred bucks going up to thousands of dollars for a bike. How do you narrow down suitable options for you while weeding out the ineffective deals?
What is your expectation?
Are you looking for a high-power sports motorcycle, or just a cruiser to go on long rides? By filtering out brands, cost, and type of motorcycle, you can quickly narrow down the available options.
Are there signs of major damages or repair?
Though inspecting the motorcycle closely in an auction is a near-impossible task, there are a few things you can do to judge its quality. Check and see if all the VIN numbers of the different motorcycle parts are matching. A mismatch indicates that parts have been changes following an accident or damages. Signs of repaint can also indicate damage or repairs.
Is the vehicle in a good condition?
Try to see the service history and the maintenance record of the motorcycle. A regularly maintained vehicle will give you a better life and fewer associated expenses. However, keep in mind that records and mileage can be easily faked. Take time out to verify these records.
Additionally, auctioneer sites list the vehicles up for auction weeks before the bidding is open to the public. This gives you ample time to research available options, rival websites and other sources when buying a motorcycle.
How to choose a good auctioneer site?
Along with getting multiple options when choosing a motorcycle, you also have to choose from multiple options when it comes to auctioneer websites. Different sites offer different benefits and deals for their users. Keep the following things in mind to ensure that the entire process goes smoothly.
Do they have pre-sale displays, exhibitions or options to inspect the vehicles?
Do they support multiple payment options?
Are they flexible in payment terms?
Do they offer guarantees on the products sold?
Are they reliable and trustworthy?
If the answer is Yes to all the questions above, then you can easily go ahead and choose the auctioneer to place a bid. If the answer is no to one or more questions, try reevaluating your options and considering other websites.