In India, the used bike segment is quite popular. It is available in every segment right from commuter, cruiser to sports naked. Nowadays, instead of spending a hefty amount on a brand-new bike, people prefer to buy a pre-owned one. But the actual question is how will you know the optimum valuation of the used bike? Is there any bike valuation service that can help us to find the fair market value of the used bike?
In this article we will be covering the following topics:
- What is the Fair Market Price of a used bike?
- How to determine the used bike valuation?
- What are the benefits of a valuation report?
- Which is the best valuation report?
- Know why you should choose OBV Valuation Report?
- Make an informed decision
What is the Fair Market Price of a used bike?
Fair Market Price is the MRP of the resale product. When it is a used bike, there is no Maximum Retail Price (MRP), you can only try to get close to the accurate pricing based on used bike condition. The fair market price of a used bike is the optimum valuation based on the vehicle details and usage amount.
How to determine the used bike valuation?
The used bike valuation is determined based on the bike model, age of the bike and Kms driven. But this calculation does not need to be manual, as you can use valuation tool for this. The online automobile marketplace tries to resolve the issue of the users by providing a better clarity with the help of tech integration. Furthermore, the online automobile platform has eliminated two major pain points for the buyers – price and quality of used bikes. The user can easily check used bike price before purchasing it.
Steps to check second hand bike price:
- Fill the required form – Category, Make, Model, Trim, Year of Purchase and Kms Driven
- Click on the submit button
- Get valuation report
What are the benefits of a valuation report?
We are all aware that the value of a bike starts depreciating once it moves out of the showroom. Having said that, the value depreciates almost half of its original price with time. Furthermore, the bike owner himself does not have a clear understanding of the bike’s fair valuation. However, it is important for the buyers to be aware of the second hand bike valuation before purchasing it or the resale value of bike in order to sell it. Here are the top benefits of a valuation report.
- New vehicle price now & then
- Total cost of ownership
- Use it for offline buying/selling, auto loan, & insurance
- Next 3 years depreciation of vehicle
- What others have paid
- Expert reviews & rating
Which is the best valuation report?
The best bike valuation tool helps to find the unbiased, objective, and independent valuation of a used bike and generate an authentic valuation report. The service takes an algorithmic & data science approach to determine the fair market value of any used vehicle in real time instead of just basing the prices on past transactions.
Know why you should choose OBV Valuation Report?
If you want to know the fair market value of a pre-owned bike, then OBV is the right choice. The bike valuation tool offers advanced evaluation besides the basic one. While the OBV Valuation report gives you a comprehensive pricing detail. The report includes fair market price of the pre-owned vehicle along with a detailed data to further help the seller & buyer take an informed decision. Thus, one should always choose OBV Valuation report
Make an informed decision
Now you can easily find the fair market valuation report of pre-owned vehicle in just 10 seconds. In order to find the second hand bike valuation or the resale value of the bike, you will have to fill a form and submit it. Based on that, you will be able to decide at what price point you want to buy or sell the model. Post which you can also predict the future value of bike. Just remember, valuation report is applicable and useful for both buyer and seller of the used vehicles. So, before you make a decision, make a habit of cross-checking the price with valuation report.
Droom is an automobile e-commerce platform offering a 21st-century automotive buying experience online with its four value pillars including trust, selection, low price, and convenience second to none. It offers 250k+ vehicles online in 1,100 cities — both used and new. Droom deals in buying and selling cars, 2-wheelers, and other vehicles too. It is an AI and data science-driven platform designed with the best ecosystem tools. Here, we have a team of auto-experts and auto enthusiasts who are dedicated to covering every sphere of the auto industry by simplifying the procedure of buying and selling with Unified Droom Experience. To know more, click here.