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How much is too much?


Hoover

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I wrecked the S about 6 weeks ago. The dealer has had it for 5 of them, and we are around $12,800 in damage. Amazingly the insurance company is paying to fix it, so I should have it back in another week or so. clap.gif

 

This is great news for me now but in a few years from now, if you were a potential buyer, what would your reaction be when I told you that all the tupperware had been replaced as well as the radiator, wheels and swingarm? Keep in mind the wreck was 2+ years and probably 10,000 miles ago. Would you still pay top dollar, would you expect a large discount or would you walk away?

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Lets_Play_Two
I wrecked the S about 6 weeks ago. The dealer has had it for 5 of them, and we are around $12,800 in damage. Amazingly the insurance company is paying to fix it, so I should have it back in another week or so. clap.gif

 

This is great news for me now but in a few years from now, if you were a potential buyer, what would your reaction be when I told you that all the tupperware had been replaced as well as the radiator, wheels and swingarm? Keep in mind the wreck was 2+ years and probably 10,000 miles ago. Would you still pay top dollar, would you expect a large discount or would you walk away?

 

I'm not sure what difference it would make to a buyer as long as the damage was fixed. Of course if you volunteer that the bike wrecked and it cost $13000 to repair it, the buyer will want a BIG discount...particularly if he is a member of this site! grin.gif

 

If you have to replace the transmission in your car do you feel obligated to tell the buyer? How about if you have to replace a door? Shoot if I had replaced the radiator on the car I might want a premium for the upgrade.

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Aluminum_Butt

Tough question. If I knew about the extent of the damage, I'd probably walk away. There's likely to be another one without a damage history just like it on the market. So, for me to even consider it, yours will have to be significantly less $$$.

 

Any intelligent buyer is going to ask if it's been down. If you're honest, that's probably going to lead to a series of questions that will expose the whole story.

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If the buyer does a Carfax report (or similiar), will the insurance claim show up on that?

 

Carfax does not show all accidents and some info on Carfax is wrong. I speak from experience on both accounts.

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I would never buy a bike that has been wrecked. period.

 

I'm not sure I'd make a statement that broad, but I sure wouldn't buy one that cost $13,000 to fix. smile.gif

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That is my feeling too, which is why I sort of wish they salvaged it. Lose a little now or a lot later.

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Interesting thing is that the damage was not all that bad, especially on the hard parts. Many parts they are replacing to put the bike back to "new", but if it were a used bike with 20K or more miles on it you probably would expect a chip or scratch here or there.

 

I would be honest, which will kill me in the long run. Oh well, no plans to sell in the near future. Just looking for validation I guess on my fear for the future.

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chrisolson

Well, you could just trade it withough saying anything to an unsuspecting dealer ... interesting that most folks consider that OK, but not in a private sale.

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wrestleantares

Don't know about your state/province/whatever, but North Carolina requires you to sign a damage statement during the sale where you have to notify the new owner if the bike was in an accident in which the bike received damage in excess of 25% of its value.

 

Lying on the form will invalidate the sale (they can return the bike for full purchase price - though they would have to sue you to get it).

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Something I've done in the past is take pictures before and after. That way the buyer can see to some degree the extent of the damage. Although I might be put off by the damage, I would possibly still consider it if the seller is honest about things and can show photos to back up the claim of the damage not being as bad as it sounds.

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The best you can do is riding the bike 4-5 more years. People cares less about accidents for older and cheaper bikes.

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JerryMather

It'll depend on how much your asking for it. It you had a choice of two bikes and one of them wasn't layed down and the other had been and they were about the same asking price, which one would you buy?

 

I think you already know the answer.

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Interesting question. I, just like somebody above, would NEVER buy a motorcycle that has been down, even in the garage. And yes David, I mean it. Hasn't bought a used bike yet, but if I ever did, it'd have to be pristine.

 

Second, the issue of your bike having been down WILL come up. If you want to flat out lie about it, that's a different story. I'd NEVER lie on such a thing, especially a bike, so I'd volunteer the information up front. In some states it's illegal not to disclose wrecks, so you could be sued. Are you going to sell it for less? Absolutely.

 

Third, you have a right to demand a 'loss of value' when insurance company pays a claim like yours, and that's exactly what you'd expect to get less at the time of resale, so make sure to neogtiate that.

 

Bottom line, I rather sleep at night than misleading somebody on such a thing, but that's just me. On the positive side, once you explain you've been riding the bike for such a long time with no problems will definitely help you sell it a lot better than if it was just fixed yesterday. The more you use your bike, the less hit you'd take at resale, so just keep using it. A friend of mine was going to get his vehicle fixed, but when he demanded that 'loss of value' clause, it pushed the claim to total status, and got paid. You're screwed either way: pay more then for another bike, or lose when you sell. Choose your poison. Take care.

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My 2 cents,

I saw my RT on the used lot out front and asked about

the bike. Salesman said it had 8,000 miles on it. Then he

noted that the Speed odometer only showed 2,000. I said

whats the deal. Front end completely replaced back to OEM

specs. I said how much? $16,000. Now understand, this was

a 05 R1200RT with 8,000 miles fully loaded including 49liter

top case and BMW GPS.(new 06 $23,000 out the door) I said I'll take it.

I guess my point is just because it had a boo boo doesn't mean the price automatically comes down.

Depends on the deal. I will say I've put 10,000 miles on it since with

no problems. However if I ever decide to sell it I will

have to inform the new owner. If for no other reason except

I'm honest.

End my 2 cents.

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This is great news for me now but in a few years from now, if you were a potential buyer, what would your reaction be when I told you that all the tupperware had been replaced as well as the radiator, wheels and swingarm? Keep in mind the wreck was 2+ years and probably 10,000 miles ago. Would you still pay top dollar, would you expect a large discount or would you walk away?

 

I'd walk away on bike that had that much damage.

 

My rationale would be that if I'm paying market price based on age and mileage, there are plenty of bikes out there. Why bother with one that has had a lot of work?

 

One of the reasons I wouldn't buy it is because I'd know that one day I would need to sell it myself. I would have to trust I'd been told the full truth by the previous owner.

 

I could live with a little cosmetic repair. A bit of plastic here or there, etc. Anybody can drop a bike and crunch something.

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