Whether you’re purchasing or selling a pre-owned motorbike, or haggling with an insurance company after a complete loss, the blue book value will tell you how much the motorcycle is worth.
When it comes to determining the worth of your motorcycle, Kelley Blue Book and the National Automobile Dealers Association (NADA) have emerged as the industry leaders. As we advance in this article, we will learn more about Blue Book value!
What Is A Blue Book Motorcycle Value?
The blue book value of your motorbike represents how much your motorcycle is worth on the open market. In other words, if you’re trying to sell or purchase a motorbike, the blue book value of a motorcycle is the amount of money you should anticipate spending or get in the course of the transaction.
Kelley Blue Book motorcycle is an automobile research business that was responsible for popularizing the phrase “Kelly blue book motorcycles”. Today, however, the phrase “motorcycle blue book” has become a generic term, which means that the majority of individuals who use it are simply referring to the worth of a vehicle.
Each organisation that supplies Kelly Blue Book for motorcycles has its method of determining the worth of a motorcycle.
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Importance Of Motorcycle Blue Book Value:
Knowing the bike blue book value worth of a motorbike may be beneficial to a large number of motorcycle riders, particularly those who are bargaining with their insurance carrier for a greater claim settlement.
Using documentation of your motorbike’s worth before the accident, you may bargain with your insurance company if you believe the settlement your motorcycle insurance company is providing you is too low for your circumstances.
If your insurance provider asserts that your motorbike has a market value, you may compare that claim to the motorcycle blue book value for your bike as a starting point. If the blue book value of your motorbike is more than the amount your insurance company is willing to pay you, you’ll want to make sure your insurer is aware of this.
Consider the following scenario: you purchased your Harley Davidson motorbike for $25,000, but your insurance claims it has depreciated to $15,000 over time. Depending on how much it costs in total, you might get reimbursed up to $15,000 (the current market price), less your deductible.
If the bike blue book value of your bike was $20,000, you may be able to negotiate a greater settlement, which would mean more money to go toward a new motorcycle. There are other methods of negotiating with your insurance carrier after an accident that does not include doing a blue book value investigation on your motorbike.
Consider the following scenario: you engage an independent assessor to determine the market worth of your used motorbike, and then you give that amount to your insurance provider.
Additionally, anybody who is wanting to purchase or sell a motorbike would benefit from knowing the blue book value of the motorcycle in which they are interested.
To determine the worth of your vintage motorcycle, you may consult a motorcycle blue book to determine what you should ask for it. This will guarantee that you get a reasonable sum in exchange for your vintage motorbike when you sell it.
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What Is The Worth Of My Bike According To BBV ?
It is possible to consult many sources for a motorcycle’s blue book value, but each organization will use a different technique, resulting in significantly varied BBV from each source.
Check out Kelley Blue Book and NADA to find out how much a motorbike is worth in today’s market. Both firms provide free estimates, which you may verify on their separate websites, and both companies base their estimates on sales transactions when determining the worth of a used motorbike.
The websites of Kelley Blue Book and the National Automobile Dealers Association are straightforward. To find out how much a used motorbike is worth, all you need is the make, model, year, and ZIP code of the motorcycle. The National Automobile Dealers Association’s website even enables you to pick bespoke equipment.
The Kelley Blue Book website simply needs the make, model, and year of a used motorbike to calculate its BBV. KBB allows you to examine the accident history of a used motorbike by entering the motorcycle’s vehicle identifying number (VIN) into an optional box.
When used motorcycle purchasers do a “VIN check,” they may have confidence that the seller is being truthful about the motorbike’s past accidents throughout the transaction. Both values should be taken into consideration when selling, purchasing, or negotiating with your insurance carrier, with the BBV that is most advantageous to you being used.
Consider the following scenario: KBB assesses the blue book value of your used motorbike to be $10,000, but NADA estimates the value to be $9,000. The $10,000 blue book value from Kelley Blue Book should be used as a bargaining chip by anybody selling their motorbike or haggling with their insurance provider in this case. Buyers, on the other hand, will want to emphasise the NADA blue book value of $9,000 as a selling point.
Kelley Blue Book Motorcycle Values:
The blue book values for motorcycles that Kelley Blue Book provides are based on a variety of data sources, including sales transactions and auction prices, among others. Kelley Blue Book’s blue book values are adjusted to account for seasonality and market fluctuations.
Furthermore, its values are based on current local circumstances and are updated continuously. As a result, someone seeking a motorbike blue book value in Florida is likely to get a different answer than someone asking for one in Washington State.
NADA Blue Book Values:
The National Automobile Dealers Association (NADA) is the leading provider of automobile price information. Each month, the NADA’s editors evaluate more than 1 million sales transactions in order to arrive at blue book values for vehicles. The sales data under consideration include both retail and wholesale figures.
The blue book values established by the National Automobile Dealers Association take into consideration a motorcycle’s general condition, mileage, history, as well as local supply and demand.
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