Salvaged title

e11charlie · 03-08-2010, 06:32 PM

Ok I am looking at a bike if I get it I would give mine to the wife since she likes it. Anyway. I have spent the last 3 hours researching this subject and I am well aware it might start a fight. What I want to know is what to offer the guy. The value of average is $5600 and the Low is $4320. I would put it at low because it still has damage to it and reading the definitions I think that is what it should be at. But who am I? I dont know how much a salvaged title lowers a bike's value. I know some salvaged titles require extensive work to get it rideable again, whereas others dont require much at all. If it is salvaged, I know about how much the guy bought it back for from the salvage company, as I have a friend who works for Copart. I have been told to piss off plenty this week for what people think are low offers, but the bikes are still for sell because of this economy. People think they are sitting on gold I guess. Any way enough of my rant. I think there is a question in there somewhere. Thoughts?

R1DON · 03-08-2010, 06:35 PM

when i see a salvage title, i cut the book value in half. even if it gets fixed, a branded title makes it worth much less

Mikey · 03-08-2010, 06:44 PM

Quote:

Originally Posted by R1DON

when i see a salvage title, i cut the book value in half. even if it gets fixed, a branded title makes it worth much less

Nothing really wrong with them as long as the frame's not bent and it just needs cosmetic stuff, but it could turn inot a headache when you try and sell it on in the future.

shaner · 03-08-2010, 06:44 PM

Quote:

Originally Posted by R1DON

when i see a salvage title, i cut the book value in half. even if it gets fixed, a branded title makes it worth much less

When banks loan out on a salvage title (most won't at all, but a few will) they will only loan half the value. I wouldn't go a penny over half, especially considering the prices of bikes with perfectly good titles right now.

lil_schmitty · 03-08-2010, 07:01 PM

Quote:

Originally Posted by R1DON

when i see a salvage title, i cut the book value in half. even if it gets fixed, a branded title makes it worth much less

... that is assuming you still want to buy the thing. I personaly won't touch a salvage title because of the resale value and also the hoops you have to jump thru to get it registered again.

turbolq4 · 03-08-2010, 07:11 PM

repaired=50% value

Back Of The Pack · 03-08-2010, 07:40 PM

I'm with everyone else I wouldn't pay over half of book for a salvaged bike.

Tits McGee · 03-08-2010, 11:13 PM

i had a salvage title car and it was hell getting rid of it!!! just got door damage... but enough to screw the sale up

ckholloway · 03-08-2010, 11:19 PM

I won't mess with a salvaged title

Bungeeguy · 03-09-2010, 12:05 PM

typical rule is 50% of book however, salvage title bikes are easier to sell then a salvage title car and if the bike is really not too bad I say go for it. Just make sure the price is right!

e11charlie · 03-09-2010, 02:55 PM

Quote:

Originally Posted by Bungeeguy

typical rule is 50% of book however, salvage title bikes are easier to sell then a salvage title car and if the bike is really not too bad I say go for it. Just make sure the price is right!

That is what i am trying to work on. It is salvaged but dont know if I want to do that or not. it is a bike I have always wanted. I know the resale is impossible with out losing money. But if it is a good price then i wont resale it anyway. Fingers crossed if he comes back with the answer I want.

Ryan@IdahoSportBikes · 03-09-2010, 03:58 PM

I'd buy a salvaged bike for the track. But I would be looking for a very good / low price on a bike I planned to resale as a street bike. As you can see, most people expect to pay 50% less or won't even look at a salvaged bike.

Basically how I'd look at it when it's a track bike, if I'm going to spend $3k to get it, that's $3k gone for good, it's no investment.
If I was wanting a street bike & had to put money back into street plastics & cared about resale in a few years... I'd likely not consider it unless it was a very low price.

ckholloway · 03-09-2010, 04:35 PM

Quote:

Originally Posted by Ryan@IdahoSportBikes

I'd buy a salvaged bike for the track. But I would be looking for a very good / low price on a bike I planned to resale as a street bike. As you can see, most people expect to pay 50% less or won't even look at a salvaged bike.

Basically how I'd look at it when it's a track bike, if I'm going to spend $3k to get it, that's $3k gone for good, it's no investment.
If I was wanting a street bike & had to put money back into street plastics & cared about resale in a few years... I'd likely not consider it unless it was a very low price.

Perfectly said. IMO resale or not you will always have money towards a street bike in registrations, insurance, so on and so forth. If you wreck your done insurance won't replace the bike your just out. If it was for track bike you expect to loose anyway. (basically)

e11charlie · 03-09-2010, 05:32 PM

This is true but most of the time the insurance company will only pay the cash value of the bike, not the book value. Which is why most of the time it is totaled anyway. The cash value is always way lower than the bike itself. Especially if the bike or car is 10 years old or older. Which is why If I own a bike or car over ten years old, which is all of them, I will only carry liability and comp. No sense in paying for something you will never use. I had it explained to me by the company that insures my car, which is why I stick with them. Most companies want to sell you a policy even if it is what you dont need. So if it is a salvaged it will only have comp anyway. So insurance is not a question at this point.

Liteone · 03-09-2010, 05:38 PM

what kind of bike are You looking at?

Mikey · 03-09-2010, 07:38 PM

I found this website a while back. I was looking for future reference if I could ever afford just a trackbike, but if anyone else sees something they can get for cheap then here ya go.

http://www.ridesafely.com/?SiteType=...iption=SALVAGE AUCTION CARS AND MOTOCYCLES FOR SALE

Sometimes you can see decent bikes going for really cheap with just cosmetic damage.

scooterholic · 03-09-2010, 08:07 PM

Like you said it's a bike you've wanted for a long time. If he is willing to except the price you want to pay, I say go for it. You get the bike you want at a discounted price. If it's a bike I'd want to keep for a wile I could live with a salvage title.

e11charlie · 03-09-2010, 08:29 PM

Quote:

Originally Posted by liteone

what kind of bike are you looking at?

a z1000

03-08-2010, 06:32 PM	#1
e11charlie Senior Member Joined: May 2009 From: no where Posts: 2,629	Salvaged title Ok I am looking at a bike if I get it I would give mine to the wife since she likes it. Anyway. I have spent the last 3 hours researching this subject and I am well aware it might start a fight. What I want to know is what to offer the guy. The value of average is $5600 and the Low is $4320. I would put it at low because it still has damage to it and reading the definitions I think that is what it should be at. But who am I? I dont know how much a salvaged title lowers a bike's value. I know some salvaged titles require extensive work to get it rideable again, whereas others dont require much at all. If it is salvaged, I know about how much the guy bought it back for from the salvage company, as I have a friend who works for Copart. I have been told to piss off plenty this week for what people think are low offers, but the bikes are still for sell because of this economy. People think they are sitting on gold I guess. Any way enough of my rant. I think there is a question in there somewhere. Thoughts?

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03-08-2010, 06:35 PM	#2
R1DON Senior Member Joined: Oct 2006 From: Nampa Posts: 1,957 I Ride: 08 zx10	when i see a salvage title, i cut the book value in half. even if it gets fixed, a branded title makes it worth much less

03-08-2010, 07:11 PM	#6
turbolq4 Senior Member Joined: Aug 2009 From: mur-ville Posts: 1,162 I Ride: 95 CR500R, various sleds	repaired=50% value

03-08-2010, 07:40 PM	#7
Back Of The Pack Senior Member Joined: Apr 2009 From: Boise Posts: 1,214 I Ride: The Busted 1 & The wrecked one.	I'm with everyone else I wouldn't pay over half of book for a salvaged bike.

03-08-2010, 11:13 PM	#8
Tits McGee Senior Member Joined: Aug 2009 From: Nampa Posts: 676 I Ride: CBR954RR	i had a salvage title car and it was hell getting rid of it!!! just got door damage... but enough to screw the sale up

03-08-2010, 11:19 PM	#9
ckholloway Senior Member Joined: Mar 2010 From: Ontario Posts: 612	I won't mess with a salvaged title

03-09-2010, 12:05 PM	#10
Bungeeguy Senior Member Joined: Aug 2006 From: Boise Posts: 628	typical rule is 50% of book however, salvage title bikes are easier to sell then a salvage title car and if the bike is really not too bad I say go for it. Just make sure the price is right!

03-09-2010, 03:58 PM	#12
Ryan@IdahoSportBikes Senior Member Joined: Jun 2006 From: Boise Posts: 2,942 I Ride: R6	I'd buy a salvaged bike for the track. But I would be looking for a very good / low price on a bike I planned to resale as a street bike. As you can see, most people expect to pay 50% less or won't even look at a salvaged bike. Basically how I'd look at it when it's a track bike, if I'm going to spend $3k to get it, that's $3k gone for good, it's no investment. If I was wanting a street bike & had to put money back into street plastics & cared about resale in a few years... I'd likely not consider it unless it was a very low price.

03-09-2010, 05:32 PM	#14
e11charlie Senior Member Joined: May 2009 From: no where Posts: 2,629	This is true but most of the time the insurance company will only pay the cash value of the bike, not the book value. Which is why most of the time it is totaled anyway. The cash value is always way lower than the bike itself. Especially if the bike or car is 10 years old or older. Which is why If I own a bike or car over ten years old, which is all of them, I will only carry liability and comp. No sense in paying for something you will never use. I had it explained to me by the company that insures my car, which is why I stick with them. Most companies want to sell you a policy even if it is what you dont need. So if it is a salvaged it will only have comp anyway. So insurance is not a question at this point.

03-09-2010, 05:38 PM	#15
Liteone Senior Member Joined: Jun 2008 From: N-Town Posts: 1,745 I Ride: CBR 954RR and what ever else I want	what kind of bike are You looking at?

03-09-2010, 07:38 PM	#16
Mikey Senior Member Joined: Mar 2009 From: Kuna Posts: 1,968 I Ride: on sidewalks if needed.	I found this website a while back. I was looking for future reference if I could ever afford just a trackbike, but if anyone else sees something they can get for cheap then here ya go. http://www.ridesafely.com/?SiteType=...iption=SALVAGE AUCTION CARS AND MOTOCYCLES FOR SALE Sometimes you can see decent bikes going for really cheap with just cosmetic damage.

03-09-2010, 08:07 PM	#17
scooterholic Senior Member Joined: Oct 2009 From: Nampa, Id Posts: 1,184 I Ride: 07 Honda Reflex, 92 Ninja ZX7, Weedeater one	Like you said it's a bike you've wanted for a long time. If he is willing to except the price you want to pay, I say go for it. You get the bike you want at a discounted price. If it's a bike I'd want to keep for a wile I could live with a salvage title.