Among all of the recreational activities, biking is the most popular one. Along with that, biking is an excellent form of exercise, and it serves as a perfect mode of transportation. But the thing is, not all bikers tend to hold onto their bike for a prolonged time.
Now, getting a new bike is easy. But getting rid of the old one is not that easy. You would either need to rely on pawn shops or list them online. Among these two, pawn shops will let you quickly sell the bike. However, how much do pawn shops pay for bikes? And should you actually sell bikes to pawn shops? Let’s find out!
Types of Bikes
Before we talk about how much you can get for your bike, we would like to talk about the bikes that people usually ride around. And there are mainly four types. Here is a brief description of each:
This is one of the most common types of bicycle that you will see on the streets. These are primarily for competitive cycling and paved roads. And it goes without saying that these bikes are the ones you will see in most pawn shops.
Compared to road bikes, mountain bikes have multiple gears, broader tires, and a sturdier frame. The features that these cycles boast will make it easier for the rider to go through challenging terrains. However, these are not as common on the streets or the pawn shops as the pawn shops.
The BMX bikes are basically off-road sporting bikes. You will see them in action for stunts and racing. And typically, the riders of the BMX bikes will make a lot of modifications to their bike.
You can modify any bike! Yes, modifications are not for just BMX bikes. Most of the cycles have aftermarket handles, tires, and pedals available. Upgrading the model to better parts can enhance the bike’s value by 10 percent.
However, you should consider whether the modification is for personal taste or not. If so, the value increment will not be that much.
How Much Can You Expect If You Sell Your Bike on a Pawn Shop?
Now that you know most about the types of bikes available on the streets, let’s get to the central part of this article. So, how much will the pawn shop give you for your bicycle? Here is a general breakdown:
As we have mentioned earlier, road bicycles are the most common type of bike. You will see them available in pretty much every pawn shop. Generally, the shops will offer you anywhere between $100 to $300 for these bicycles. And the pricing will highly depend on the condition of the bicycle.
In comparison, mountain bikes are more sought after than road bikes. And the pawn shops will usually offer you a little bit more for these than the road bikes. You can expect to get $200 to $450 for your two-wheeler. Again, the pricing will depend highly on the condition and how well-maintained the bike is.
The BMX bikes are the least expensive among all the types of bicycles that pawn shops deal with. Why? Well, a small percentage of people cycle for stunts or races. For that reason, pawn shops would need to hold onto these bikes for a prolonged amount of time. And usually, the shops will offer you anywhere from $20 to $50.
When Should You Sell Your Bike on a Pawn Shop?
To get the correct value for your money, you need to consider the right timing to sell your bike. No matter what you do, do not plan to sell your two-wheeler in winter. You will get 10 to 15 percent less. During winter, most pawn shops do not even sell or buy bikes. There is a turnaround cost. So, choose other times other than the winter.
To recapitulate, if you are still wondering how much do pawn shops pay for bikes, you can expect to get 40 to 60 percent of the original value. But the pricing will highly depend on the overall condition of the cycle.