Your motorcycle might be idle, taking up space and collecting dust. Perhaps you’ve decided to move on, are looking for a new one, or simply tired of dealing with it. Whatever your motivations, storing a motorcycle in your garage not only occupies space but also costs money. Keeping a motorcycle you don’t use can become quite expensive, from service charges to insurance costs.
CarMax, one of the largest used car retailers, has stores all over the country. The company offers a variety of services, including the option to trade-in your vehicle. However, does CarMax buy motorcycles?
CarMax’s Stance on Purchasing Motorcycles
Unfortunately, motorcycle owners cannot sell their vehicles to CarMax. If you own a motorcycle you want to sell, CarMax will not place a bid. The company only purchases cars, trucks, and SUVs.
Corporate policies prohibit vehicles with fewer than four wheels. As a result, CarMax is unable to buy motorcycles from sellers.
If you wish to sell your motorcycle, other options are available. Consider selling it online, through a dealer, or privately. Each option has its own set of advantages and disadvantages, so research thoroughly before making a decision.
Where Can You Successfully Sell a Motorcycle?
While CarMax does not buy motorcycles, there are several places that do. After reviewing the short list below, consider your options!
Craigslist allows you to sell your motorcycle along with used cars. There is a $5 listing fee, but afterward, you can start attracting local buyers. Photos and specs are key when selling on Craigslist, so ensure your motorcycle is showcased with high-quality pictures and an engaging description.
Facebook also offers the ability to sell motorcycles, in addition to cars and other items. Like Craigslist, photos are critical. Make sure you have several good ones and provide ample information about your motorcycle.
eBay is another platform to sell your motorcycle, renowned as a mainstay in online markets. On this popular site, you can list your motorcycle along with a vehicle. Again, photos are crucial, just like in the previous examples. Make sure to provide potential buyers with as much information as possible about your motorcycle.
Autotrader has built a reputation as a reliable platform for selling cars and motorcycles since its inception in 1997. Upon visiting the site, you can learn more about how to list a motorcycle. We found that sellers of motorcycles can choose from three bundles – the “Premium,” “Deluxe,” and “Basic” plans. These plans offer sellers opportunities to enhance their ads with photos, videos, and additional “add-ons.”
Motorcycle.com is another excellent site for selling your motorcycle. Founded in 1994, the platform offers bike owners a fantastic avenue for selling their motorcycles. You can explore their selling packages by clicking the “put a motorcycle for sale” link in the “Classified” section.
Tips for Getting Rid of an Old Motorcycle
Looking to get rid of your two-wheeler? Consider the following tips!
Sell the Whole Bike or Parts
Generally, there’s a sizable market for used Harley Davidson motorcycles. However, even if you don’t own a Harley Davidson, you might still possess a desirable bike. Make sure you hold the motorcycle title if you decide to sell it publicly or privately.
The title is necessary to finalize the sale of the motorcycle. As many buyers will require this documentation, make sure you gather all of the bike’s records.
If you aren’t interested in fixing broken parts, consider selling the working pieces of a motorcycle. You’ll likely find a motorcycle repair enthusiast or someone interested in what you have to offer. Used tires, footpegs, brake pads, tailpipes, and air & oil filters can fetch a decent amount of money.
Scrap Your Motorcycle
You can also consider selling your motorcycle for scrap or to a junkyard. Every year, about 80 million tons of steel are recycled across North America. One fantastic aspect of steel is that it does not lose its strength no matter how many times it’s recycled.
Your motorcycle consists of many steel components such as:
- Wheel rims
- Body structure
Most of your bike is made of steel out of these components. In addition, there are recyclable metals such as titanium, magnesium, and aluminum.
Even if your bike is ancient or seemingly worthless, it still holds value. Plus, many places will pay you cash for an old bike.
Please use a reputable scrap yard and familiarize yourself with their motorcycle buying policies. You wouldn’t want to spend a fortune while trying to make some money.
Also Read: Why Does My Truck Regen So Often?
How to Handle Motorcycle Documentation
Handling paperwork can be the most daunting part of the selling process. Many sellers become so frustrated with this time-consuming task that they often decide to postpone or abandon their sales venture.
However, documentation doesn’t have to be as overwhelming as you might think. The following is a list of the paperwork needed to prepare for a motorcycle sale:
- Title: The title is the most crucial document in a motorcycle transaction. It identifies a person’s ownership of a bike. Each bike with a VIN has a title attached to it, required to get a license plate for the motorcycle and make it legally drivable on roads. The title includes information such as the brand, year, and VIN, along with the bike’s name and address. If the seller has full rights to the motorcycle and there are no liens on the title, transferring ownership is as simple as both parties signing the title in the appropriate places.
- Bill of Sale: Even if a motorcycle has a title, it’s a good idea to provide a bill of sale when selling it. A bill of sale protects both the buyer and the seller. The title of the motorcycle is legally transferred through a completed bill of sale containing signatures between the time of the transaction and when the new owner registers the bike with the DMV. Ensure the bill of sale includes the signatures of both the buyer and the seller, and make sure you have two copies of it (one for yourself and one for the buyer).
- Vehicle Identification Number (VIN): All street-legal motorcycles have a VIN, so it’s a good idea to mention it in your listing. This allows potential buyers to verify the year, make, and model of the motorcycle and even request an insurance quote. If you’re unsure of your motorcycle’s VIN, you can find it on your insurance card or title.
What’s the quickest way to sell a motorcycle?
You can advertise your motorcycle in local ads, online classifieds, newspapers, magazines, and periodicals. Another option is to consign the sale to a local auto or motorcycle dealer or participate in motorcycle auctions like Mecum Auction. Also, ensure you have all necessary documents, including your title and service history.
How can I sell my used motorcycle?
Platforms such as Motorcycle Classics, Autotrader (for motorcycles), and Cycle Trader can help you sell your motorcycle at a top price. You could also try Oodle, Pennysaver, and Offerup for local listings. Sites for local listings typically charge lower or no selling fees.
Will CarMax buy my bike?
The quick answer is no. CarMax solely focuses on buying and selling cars.
When is the best time to sell my bike?
The best time to sell your bike is from March to May. Summer is the second-best season, while fall and winter should be avoided.
What is my bike’s fair market value?
You can check the value of a motorcycle on NADA and Kelley Blue Book. Both companies provide free estimates that you can access on their websites, and both use transactional data to calculate a used bike’s value. The websites for Kelley Blue Book and NADA are easy to navigate.
Is there a demand for motorcycles?
The onset of COVID-19 resulted in a sudden increase in demand for personal transportation. Initially, off-road and power sports experienced a boom, followed by an increase in demand for all kinds, including street motorcycles and scooters. Sales in 2020 increased after a consistent five-year decline, and in 2021 they rose to their highest point in over fifteen years.
Is there an app for buying and selling motorcycles?
The Cycle Trader app is a great resource for finding the bike, ATV, snowmobile, or personal watercraft you’re looking for. It currently has about 250,000 listings from dealers and private sellers across the United States.
How old does a motorcycle have to be to be tax-exempt?
If your motorcycle was manufactured more than 40 years ago, you could apply for a historical vehicle tax-exempt status. According to the regulations, if your motorcycle was made before January 1, 1981, you can stop paying vehicle tax from the first day of April 2021.
Regrettably, CarMax doesn’t buy motorcycles. They only show interest in purchasing SUVs, trucks, and passenger cars. Fortunately, selling a bike in the open market is usually easier than selling a car, so you shouldn’t have trouble finding a buyer.