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I Sold My Motorcycle

About 5 years ago, I decided to purchase a Motorcycle. At that point, I had my license for a few years but never did anything with it. It took a while, but I researched and found the perfect Bike. It was a blue 2013 650 Kawasaki Ninja ABS model.

It was a used bike with 600 miles, and I paid $5500 for it. For the longest while, I had a picture of the bike on my About page. Now, after all this time, I decided to sell my motorcycle.

It was a tough decision and I almost didn’t do it. But, in the end, I think I made the best decision.

Why I Chose To Sell My Motorcycle?

There are numerous reasons that led to this decision. But, perhaps the main reason is that owning the bike was no longer fun. It felt more of a chore for me to put on my gear and go out riding. Granted, the weather hadn’t always been perfect. In fact, great riding weather is coming up in the summer. But, I just don’t go riding that much.

Case in point, I’ve had the bike for five years and the current mileage is around 8,200!

Finally, it doesn’t help that there was a cost to maintain the bike. In addition to the insurance, I recently replaced the tires and the sparks plug. I was concerned that if I continued to maintain the bike, there would be additional costs in the future. Besides, at least now I don’t have to wash the bike anymore or maintain the chain! I know, you can call me lazy.



Proceeds Of The Sale

I Sold the bike at a dealer. I’m sure I could have gotten more for it on Craigslist but I didn’t want to bother with the hassle. Plus, Craigslist can be full of scammers and the like. I sold the bike for $3700. Another way to look at this is that I paid $1800 to use the bike for 5 years. This, of course, excludes maintenance costs throughout the years.

I’m happy with this bike transaction. The bike was well maintained and was in mint condition. I kept up with all the servicing for the motorcycle, etc. The new owner is going to be so happy.

Note, technically, the bike is only listed for sale. It hasn’t sold yet. But given the list price, I was told by the dealer it will sell very quickly. The market value for the bike is $4700 so the dealer will make a $1000.

Of the $3700, I will put $3000 towards my down payment. It will be a struggle every month to refrain from using this money. In any case, I’ll take $400 to pay off my credit card balance for the month. That will leave me with $300 to splurge.

The prudent thing for me to do is invest the $300, but I always try to have fun when I get a hold of a lump sum of money.

Conclusion

Well, there you have it. I think selling my bike was the right thing for me to do. If I really want another bike later, I’ll buy one. But chances are, I won’t. That being said, my next project may very well be to buy a boat or jet ski after I get a beach house.

What do you think of this post? Do you own a motorcycle? Have you ever sold one? What were your reasons for selling? Let me know your thoughts by commenting below.

The post I Sold My Motorcycle appeared first on Dividend Portfolio.



This post first appeared on Dividend Portfolio, please read the originial post: here

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I Sold My Motorcycle

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