Over 100 million people rode a bike in 2015! With that kind of popularity, its easy to see why bikes are good business. Locally, TC has become a biking mecca in NoMi and has an especially bike friendly community. As such they are a pretty hot commodity. (At least this time of year.) There are many different varieties and brands of bicycles to choose from, ranging in price between $50 and $10,000. The popularity of biking makes any pawnbroker eager to do business with you. To help you get top dollar for your bicycle, here are a few tips:
Wash your bike
The newer you can make your bike look, the more willing pawn shops will be to give you top dollar for your bike. Take soap and water to your bike to get rid of all the dirt and grime. A clean look could add substantial money to your offer price.
Pump it up
It may seem small but having properly inflated tires is important. The store you choose will want to see that the bike works. Sometimes that means taking it for a quick spin around the lot to make sure that it shifts and brakes properly. This is much harder, and sometimes impossible with flat tires. If the tires are totally flat (especially on a lower value bike) the pawnbroker may even be forced to pass on the bike all together, since it is unknown if the tires are able to hold air. This could potentially be a costly and time consuming repair depending on the model of the bike. Remember, you’re trying to present your bike in the best possible light to get the best possible offer.
Fix any damages
You don’t have to fix every dent or scratch; just make sure you’re okay with the offer amount you’ll get if you leave those damages or cosmetic issues on your bike. Fix what you possibly and reasonably can. Some pawn shops are okay with minor issues such as the handle bars needing to be retaped or seat issues. On the other hand, if the the bike just doesn’t work at all, pawn shops typically won’t do business with you unless it’s a higher end bike. The goal here is to give pawn shops very little work on fixing the bike. Less work for the store = more money for you.
Let’s talk pricing
Once you’ve fixed what you can on your bike and have washed it, the price offer will depend on many variables such as type of bike, brand, and the condition. The percentage of the bikes value to expect will vary some from low to high end bikes, but a pretty safe rule of thumb is to expect around half of what the pawnshop believes it can resell the bike for. Obviously a Walmart BMX bike owner should not expect the same kind of payouts as the professional level road bike owner.
Looking for cash on your bike?
Try your local pawnshop or second hand stores. Dealing with a reputable local pawnshop or secondhand store is quicker, safer, and easier than trying to sell on Craigslist. Follow these simple steps to get the best payouts possible.
Live locally? Great! Ace would love to buy it! As stated above, the price will vary, but we will be sure to offer as much as we can! Not ready to part with your bike buy still need the cash? We have an option for that too! Stop by or call us today – 231-929-3344