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  #1  
Old 05-12-2017, 04:36 PM
Piperman Piperman is offline
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I found out how much value is lost in these bikes

I was looking to trade my '15 K1300S MS for a new S1000RR, I guess financing these does not pay at all. Been paying 2 years and owe $8k more than it's worth. It's depreciating faster than I can make payments. Crazy. I think next time, whenever I can get out from being upside down, I'll put more down on the bike.
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  #2  
Old 05-12-2017, 04:46 PM
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Re: I found out how much value is lost in these bikes

Quote:
Originally Posted by Piperman
I was looking to trade my '15 K1300S MS for a new S1000RR, I guess financing these does not pay at all. Been paying 2 years and owe $8k more than it's worth. It's depreciating faster than I can make payments. Crazy. I think next time, whenever I can get out from being upside down, I'll put more down on the bike.
What did the dealer say it was worth? I know the K bikes are going down in value but that seems excessive?
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Old 05-12-2017, 04:55 PM
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Re: I found out how much value is lost in these bikes

He said 9-10k and a dealer in Houston has had one for 9 months with no buyer, no one is buying. So basically I would have to trade in mine and give 8k to get in a S1000RR, my bike has 710 miles on it. At this time the R1200RS gets more ride time, and really want a supersport bike for hills and track. Something light and quick.

The K is wonderful for a highway bike, eats up those miles in comfort.

So I checked with my local huge Japanese bike dealership, looking to get a new ZX10RR, figured maybe they might have better luck. Nope, 8k and the K1300S. It's crazy.
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Old 05-12-2017, 05:03 PM
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Re: I found out how much value is lost in these bikes

Keep the KS, ditch the RS?

I've only test ridden the RS but IMHO it doesn't check the same (read: right) boxes as the KS.
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Old 05-12-2017, 05:05 PM
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Re: I found out how much value is lost in these bikes

Quote:
Originally Posted by stxman4
Keep the KS, ditch the RS?

I've only test ridden the RS but IMHO it doesn't check the same (read: right) boxes as the KS.
Actually I agree, but since my wife likes the RS better, even though she doesn't ride any of them........ but.... I have been considering it. But insurance is 5x the amount of the RS, basically same as a supersport bike.
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Old 05-12-2017, 05:11 PM
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Re: I found out how much value is lost in these bikes

Sell your cycle yourself and find an individual with a good used cycle you want then make your deal. Get the dealers out of your life. $8k for your ultra-low mileage cycle - they will sell it for $9-10k easily. They will max out the margin on the cycle you buy from them. It's what they do for a living. Trades in close sequence will put you upside down in a hurry.
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Old 05-12-2017, 05:12 PM
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Re: I found out how much value is lost in these bikes

Quote:
Originally Posted by Piperman
Actually I agree, but since my wife likes the RS better, even though she doesn't ride any of them........ but.... I have been considering it. But insurance is 5x the amount of the RS, basically same as a supersport bike.

Progressive classifies the K1300S as a sport bike.
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Old 05-12-2017, 05:14 PM
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Re: I found out how much value is lost in these bikes

So does GEICO. The ZX10RR is 10 a month more, I got a quote. lol
I would but I can't get enough to get a cleaar title, so I need to find another 3-4k to pay it off. I don't have it.
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  #9  
Old 05-12-2017, 06:22 PM
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Re: I found out how much value is lost in these bikes

Quote:
Originally Posted by Piperman
So does GEICO. The ZX10RR is 10 a month more, I got a quote. lol
I would but I can't get enough to get a cleaar title, so I need to find another 3-4k to pay it off. I don't have it.

What's the R3 for?
Maybe sell that, and find and ex-demo 1000cc rocket. There is your 3-4k.
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Old 05-12-2017, 07:32 PM
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Re: I found out how much value is lost in these bikes

I'd try and sell the KS privately if you really want to get rid of it and forget the dealership. I suppose now that the KS has been discontinued it's hurt trade-in/resale value but you should still be able to sell it on your own for over 10K. I loved my K13S but got rid of it in 2014 for a K16GT.
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  #11  
Old 05-12-2017, 07:49 PM
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Re: I found out how much value is lost in these bikes

Quote:
Originally Posted by wellcraft
I suppose now that the KS has been discontinued it's hurt trade-in/resale value but you should still be able to sell it on your own for over 10K.

Resale value would depend on how you look at it, without the option to buy a brand new bike from the dealers, that rules out some competition, so could be a good thing. Some buyers might also think a discontinued bike would be hard to get parts for. Seems here in Australia there are more and more parts (used) becoming available as these bikes are pulled apart.
I have found selling a car or bike is unpredictable at the best of times, I usually sit around for 3 months with only low ball offers and suddenly 3 serious buyers appear within a few days and I get the money I expected, not the money I want.
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  #12  
Old 05-12-2017, 09:28 PM
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Re: I found out how much value is lost in these bikes

The R3 is a no go, owe on it as much as a new one. Basically I'm screwed.
I have had all these bikes for two years and am losing money by the day.
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  #13  
Old 05-12-2017, 09:46 PM
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Re: I found out how much value is lost in these bikes

As stated, you're trying to do it the most expensive way possible. The dealer will gladly give you $8k and put it on his show floor well north of $12k. Sell it yourself and put a few extra K's in your pocket.
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  #14  
Old 05-12-2017, 10:00 PM
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Re: I found out how much value is lost in these bikes

a 15 K13S should be trade in at 12-13k if they are offering 10k they are 2k short, which Houston dealer is he referring too?
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  #15  
Old 05-12-2017, 10:19 PM
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Re: I found out how much value is lost in these bikes

The dealer will basically give me 10k on a trade, I owe 17,700 on it, paid 22k in 2015.
I would like to sell it outright, nobody is going to pay that. It's a new bike pretty much. Not made anymore though, so it seems nobody wants to pay much for it.
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  #16  
Old 05-12-2017, 10:20 PM
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Re: I found out how much value is lost in these bikes

Quote:
Originally Posted by Karlb
a 15 K13S should be trade in at 12-13k if they are offering 10k they are 2k short, which Houston dealer is he referring too?
I'm not sure, I think the one near The Woodlands. Not Gulf Coast.
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  #17  
Old 05-12-2017, 11:08 PM
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Re: I found out how much value is lost in these bikes

Quote:
Originally Posted by Piperman
...I need to find another 3-4k to pay it off. I don't have it.

Sounds like you need to rethink your priorities. Did I read that right???...710 miles in two years? If so, that's an expensive garage queen.

Normally, I'd be right along with everyone else helping you spend your money. But there's no way I'd give you a recommendation that would get you further underwater than you are already.

Chris
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Old 05-12-2017, 11:15 PM
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Re: I found out how much value is lost in these bikes

Yep, 710 mile in 2 years. It is a very expensive garage queen.
I appreciate that Chris. I'm just trying to figure out the best way to get out of it, and get a supersport bike like I really want.

I figure the best way would be to sell the K and trade off the R3, and be done with all that.
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  #19  
Old 05-13-2017, 12:35 AM
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Re: I found out how much value is lost in these bikes

Bummer Bro.

Of course, the RR is supposedly the bees knees whereas the K 13s is discontinued and therefore worthless

Also, if you came in upside down when you bought the K13? it's only going to be worse.

Interest rate will play a factor too.

What's the NADA or KBB on your K13?

You looking to buy new or used on the RR?
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Old 05-13-2017, 12:37 AM
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Re: I found out how much value is lost in these bikes

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Originally Posted by WPV
Sell your cycle yourself and find an individual with a good used cycle you want then make your deal. Get the dealers out of your life. $8k for your ultra-low mileage cycle - they will sell it for $9-10k easily. They will max out the margin on the cycle you buy from them. It's what they do for a living. Trades in close sequence will put you upside down in a hurry.

Agree 100%
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Old 05-13-2017, 12:45 AM
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Re: I found out how much value is lost in these bikes

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Originally Posted by WPV
Progressive classifies the K1300S as a sport bike.

Hmmm, I'll have to check my rates as I have Progressive also.

I pay $16.75 monthly for three bikes:

09 Yamaha FZ6R
11 Ducati 1198SP
12 K 1300 S HP

However, that is only liability coverage. I have no tickets or wrecks in forever and a 800+ credit score.

Full coverage would be more but I don't believe a substantial amount.

I will say this, I definitely got a good discount with Progressive with multiple bikes.

I had a ZX 14 and then I added my wifes Yamaha and the policy dropped $300 a year.

Weird
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  #22  
Old 05-13-2017, 01:04 AM
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Re: I found out how much value is lost in these bikes

Probably not what you want to read but maybe put the RR on hold - start riding the KS and keep paying on the loan - same with the R3.

Now if you are willing to take the hit on the KS sell it out right - pay it off and go from there. I'm not sure what you can/will get for it but $17.7K isn't going to happen.

Same with the R3 - you won't get hurt too bad - and another loan paid off.

Of course if you don't have the cash to pay off the loans then disregard this idea.

And getting back to purchasing an RR - wait for a good deal - not a spare of the moment impulse purchase. If that means waiting for end of year deals or a really good deal comes your way on a used one that is what I would do.

And if at all possible stop financing - as you are finding out - the depreciation plus interest on the loans is crushing you.
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Old 05-13-2017, 06:37 AM
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Re: I found out how much value is lost in these bikes

Quote:
Originally Posted by Piperman
I'm not sure, I think the one near The Woodlands. Not Gulf Coast.
The someone has bad info, the K3S there is not a MS its a black one, the only other K13S they have had in stock in the last year had just over 100k miles on it, they have it for sale for 12,499 and its been there since march 2017, when I traded it in on my XR, its stock other than beechs risers plates and associated side stand riser. So for your MS, your dealer is low. JMHO
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Old 05-13-2017, 06:48 AM
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Re: I found out how much value is lost in these bikes

Just a thought, have you talked to BMW the Woodlands, maybe they would make you a better offer for yours. Cant hurt to see what they say. I worked my last deal with them over the phone and with pics of my bikes sent to them. In my experience they have been very easy to deal with.
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Old 05-13-2017, 07:22 AM
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Re: I found out how much value is lost in these bikes

I'd bet you got low balled by the dealer since they know KS's aren't selling. Apples to oranges but in buying a new Jeep, the guy gave me a laughable trade in number but I sold it myself for more than twice what he offered. Sounds like you'll need to go that route too.
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Old 05-13-2017, 07:47 AM
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Re: I found out how much value is lost in these bikes

And you need to stop financing toys...
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Old 05-13-2017, 07:53 AM
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Re: I found out how much value is lost in these bikes

Sounds like you should have managed your financing and bike purchasing better. You have 2 2015's and a 2016'. None of them cheap and sounds like all financed. If I were you I'd would keep the K13 and ride it, I put 450 miles on my GT last Wednesday. $23k is a lot of dough to ride 710 miles. Maybe look into BMW lease program if you don't want to hold onto them.
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Old 05-13-2017, 11:32 AM
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Re: I found out how much value is lost in these bikes

Quote:
Originally Posted by Piperman
I can't get enough to get a cleaar title, so I need to find another 3-4k to pay it off. I don't have it.
I hate to be brutally honest, but quit buying a bunch of new motorcycles on credit maybe

Oh hell, nevermind I said that.... please buy a new Aprilia RSV4 or Tuono and send ME a PM when you are ready to sell it with 710 miles at 50% of list a year or two later. I promise a quick cash sale
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Old 05-13-2017, 11:52 AM
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Re: I found out how much value is lost in these bikes

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Originally Posted by MattB
I hate to be brutally honest, but quit buying a bunch of new motorcycles on credit maybe

Oh hell, nevermind I said that.... please buy a new Aprilia RSV4 or Tuono and send ME a PM when you are ready to sell it with 710 miles at 50% of list a year or two later. I promise a quick cash sale
Alright, so I was a LITTLE harsh maybe with my last message, but seriously...

1) shed debt, even if that entails selling a bike or two at a loss

2) save some CASH so that when you find a GREAT DEAL you can buy all/most of it outright.

3) Dealers are not going to give you (because they don't HAVE to give you) their true rock bottom price if you are desperate and just looking for somebody to work with you. Cash in hand is buying power, whether it be with a dealer, or moreso with a private seller.

4) don't be afraid to "know who you are". It seems to me that you do not have the financial ability to buy all these NEW toys... no worries, I probably don't either. Right now you are throwing money away. Don't be afraid to look for something nice in the USED market. Most of the bikes I've owned in my lifetime I could THROW AWAY after two years (and your $4k+ in payments) and not lose any more money than what you are talking.

5) if none of this is making sense to you, maybe invest $15 in the "Total Money Makeover" book by Dave Ramsey. I bought it and much of it was obvious to me having grown up with parents that taught me great financial habits, but I think that maybe you'd find some value here.

Hopefully you find some of this useful, if not, I was 100% serious about the Aprilia in my prior message.
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Old 05-13-2017, 12:24 PM
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Re: I found out how much value is lost in these bikes

MY bike's just out of the box late november and has 2.5k miles on it and the KTM dealer offered me 7.5k for a trade on the GT. The value on this bike has plummeted. Of course the BMW dealer would give me a bit more on a trade, maybe 8.5k tops.

THis is the reason I don't finance bikes. If I can't buy it with cash and a trade I won't do it.
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Old 05-13-2017, 12:54 PM
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Re: I found out how much value is lost in these bikes

It helps to be married to an accountant. They are notoriously cheap and want to know where every penny goes. But even if I wasn't married to one, I'm cheap myself.

As others have said, get rid of debt...especially on toys. There are financial advisors that will help you consolidate your debt and get a plan to pay it off...and they are free in the USA. I'm sure they are free where you live.

The last five vehicles I've purchased (two motorcycles and three cars), I've paid using my credit card. Whoa! Wait! Didn't you say not to incur debt???

Yes, but what I did was to pay them off at the end of the month without carrying anything over to incur a finance charge. I also got cash back on the purchases.

It takes awhile to get there, but you start by living within your means.

The salesman at the dealership will make you feel like a king, stroking your ego. All to get you to buy that new bike. He doesn't care whether you have enough money to feed your family a month from the sale. All he cares about is the sale...not you.

Every time I buy a new bike, I go through this equation in my mind. I currently have X bike. It does everything I want, except maybe this one little thing. When I look at the potential new bike, it'll do better than my current bike maybe in a couple different ways. Then I look at how much those "couple different ways" will cost. How many thousands of dollars will it cost me to get this small incremental benefit? And then I usually walk away from the bike.

Chris
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Old 05-13-2017, 01:28 PM
millers millers is offline
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Re: I found out how much value is lost in these bikes

Quote:
Originally Posted by Piperman
I think next time, whenever I can get out from being upside down, I'll put more down on the bike.
Or buy a clean bike a few years old and let someone else pay the 40%+ depreciation.

Quote:
Originally Posted by Daboo
Every time I buy a new bike, I go through this equation in my mind. I currently have X bike. It does everything I want, except maybe this one little thing. When I look at the potential new bike, it'll do better than my current bike maybe in a couple different ways. Then I look at how much those "couple different ways" will cost. How many thousands of dollars will it cost me to get this small incremental benefit? And then I usually walk away from the bike.
Or better yet this. Although someone needs to keep handing over the cash to keep the manufacturers in business so I guess I'm glad not everyone has an accountant for a wife
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Old 05-13-2017, 02:09 PM
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Re: I found out how much value is lost in these bikes

Pipeman, ir sound like you are living above your means! Sell the R3, pay off the loan. Save some money and next year you can pay cash for a S1000. Call it a Christmas gift to yourself.
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Old 05-13-2017, 03:14 PM
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Re: I found out how much value is lost in these bikes

I'm sure most of these posts may seem like preaching to but we feel your pain. I imagine that all of us have succomed to new bike/car/ whatever toy at some point in life but you just bit hard three times in short order which makes a solution more difficult.


You might consider trying to bundle the three bikes with your bank to see if that would relieve the pain but finding somebody to do that at a decent rate would be hard. Since you're just talking about your situation relative to getting yet another bike is troubling and seems impulsive.

Live your own life for sure but visiting a debt counselor wouldn't be a bad idea.

In the meantime, ride your bikes, make your payments and then visit getting something different in a few years. After all, you aren't underwater until you dispose of them.


Good luck
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Old 05-15-2017, 08:36 PM
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Re: I found out how much value is lost in these bikes

We paid 18,700 for a PIAA replacement bulb back in 2006. Buying a BMW new is a guaranteed loss in finances but on the other hand we are buying toys. If we like the toy then it's not about the costs or resale value. Use the 710 to you advantage and ask top dollar in Cycle Trader. Worst case is in a few months you still have a beautiful S.

BTW, we bought a 2011 BMW 3 series in 2012 for many many thousands off the sticker. ( twice the thousands off as it had miles!) We weren't looking but there it was. It even came with the 4 year maintenance and free service. There are deals out there but they are rare.

So I guess the moral is to buy slightly used. And don't go to the dealer for a light bulb.
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Old 05-15-2017, 10:14 PM
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Re: I found out how much value is lost in these bikes

The best time to buy a BMW motorcycle is at the end of the riding season when BMW is offering cash incentives to sell off old inventory and make space for the next model year. I just bought a 2016 GTLE and got 4 grand off MSRP from BMW. That 4K factory incentive took a big bite out of depreciation should I decide to trade the bike in within the next couple of years. If you're going to finance never buy with zero down, put as much down as you can afford, or lease if you gotta have a new bike every few years. With that said the KS is a great bike so get out there and put some miles on it, you may discover you don't really need an RR.
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Old 05-16-2017, 12:54 AM
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Re: I found out how much value is lost in these bikes

I've been thinking about this thread for a while. There's another aspect we haven't considered. And while I'm using Pipeman's situation here, it really has far broader implications.

So you ("you" in general), take a K1300S out to the track and it isn't fast enough. So you want a S1000RR. It's a wee bit faster. Both bikes cost what??? In real terms well over $20K. If the K1300S wasn't fast enough, then you're trying to squeeze another couple tenths of a second out of the S1000RR. To do that, you're riding on the edge. (If not, you'd be riding like me...slow. )

Here's the point I realized when I was riding crazy on the road through some really nice curves once. One slip up, and you've totalled your bike. It's towed away. You've still got the loan to pay...but no bike, even. Professional racers have a sponsor who pays for the bike, but those of us who are mere mortals only have ourselves.


I have friends who do track days. But they buy used bikes they can race. Drop. Pick up and ride away. And if they can't ride it away, they can afford because of the low cost, to walk away from the wreck. That's how mere mortals do it.

Chris
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  #38  
Old 05-16-2017, 02:55 AM
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Re: I found out how much value is lost in these bikes

Thats why you don't buy shit on finance..... If you couldn't afford it and then wreck it you still pay for it.

My cousin totaled his brand new Audi A4 and it was financed.
Him and his 3 friends drove over a bridge with black ice and slid into the barrier. Car had some scratches, but nothing serious. Everyone got out of the car and he pulled out the warning triangle to set it up on the road.

As my cousin is walking to setup the warning triangle, another guy in his car hit the black ice spot and rammed into the back of my cousins car.

Both cars were totaled, and my cousin had to pay, quoting the insurance:

"Due to the fact that the warning triangle was missing on the scene of the accident, he has no legal right to be compensated since he had 50% fault on the other vehicle smashing into his car"

Mind due, him and his 3 friends are all Police Officers and he had the fucking warning triangle in his hand......

6 years to pay off the loan, plus 50% of the other car...... He drove an old Mercedes 190D 82 model for the next few years.

Thats why I would never buy toys/cars on finance.....
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  #39  
Old 05-16-2017, 12:07 PM
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Re: I found out how much value is lost in these bikes

Quote:
Originally Posted by wellcraft
The best time to buy a BMW motorcycle is at the end of the riding season when BMW is offering cash incentives to sell off old inventory and make space for the next model year. I just bought a 2016 GTLE and got 4 grand off MSRP from BMW. That 4K factory incentive took a big bite out of depreciation should I decide to trade the bike in within the next couple of years. If you're going to finance never buy with zero down, put as much down as you can afford, or lease if you gotta have a new bike every few years. With that said the KS is a great bike so get out there and put some miles on it, you may discover you don't really need an RR.


Amen. I bought my 2013 S1000RR brandy new from Bob's in March of '14 for $13.5K - almost like buying it used. Heck, when I totaled it in 2016 Allstate paid me over $15K for it and my gear. Similarly, I bought my R1200GS triple black when it was one of the first available in March of '16 and paid near list for it - but aw shucks, I just had to have that triple black with the ABS Pro on it. So there's two very different purchases all made eyes wide open with very different financial characteristics.

Quote:
Originally Posted by Piperman
I guess financing these does not pay at all.
Stop guessing and do the math - and go put some miles on that KS!
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  #40  
Old 05-16-2017, 12:40 PM
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Re: I found out how much value is lost in these bikes

I say sell the POS boxer and pay off the K!
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  #41  
Old 05-16-2017, 01:07 PM
k_enn k_enn is offline
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Re: I found out how much value is lost in these bikes

FWIW, I don't think new motorcycles are a good investment from purely a financial point of view. As noted above, when you buy new (as with any motor vehicle), you take a big hit in the first couple of years due to depreciation. I think pre-owned motorcycles lose more value than cars. There are many riders out there who "beat" on their motorcycles (e.g., being tough on clutches, burning out tires, "power shifting" when you don't have quick shift assist, etc.) that buying a pre-owned bike can be much more risky than with a car. As a result, resale value drops more than with a car. I believe the loss is much greater in the early years of ownership than over a longer period of time.

As for the long haul, while some older bikes may now sell for more than they did when new (one example is my 1982 R65), when you factor in inflation, you still have lost a good part of the original investment. However, at least it tends to reach a point where it stops declining.

From a pure dollar point of view, buying a pre-owned bike may be more sensible if you buy (i) after the major amount of depreciation occurs in the first few years, and (ii) you are fortunate to buy one that has not been "beat" on.

just my two cents . . . .

k_enn
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  #42  
Old 05-17-2017, 10:14 PM
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Re: I found out how much value is lost in these bikes

I can't believe I'm writing this but...take out a HELOC (low, tax deductible interest), pay off your bikes...then SELL THEM ALL and don't buy another until your HELOC is paid off and you have cash saved for a used bike from a private owner.
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Old 05-17-2017, 10:21 PM
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Re: I found out how much value is lost in these bikes

YOu assume he has equity in his house. And frankly, though you will never get caught, you're only permitted to deduct the interest on that portion of the loan used for home improvement, etc. But I like the general concept.
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Old 05-19-2017, 06:10 PM
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Re: I found out how much value is lost in these bikes

Through this thread I've been reflecting on the choices I made as a 19 year old. I grew up on dirt bikes that I bought, mostly not running, with lawn mowing money; fixed them; road the snot out of them in enduros and trail riding, etc. I was working part time and bought my first street bike for about $2500, a brandy new 1978 GS550E Suzuki and financed it for 24 months. My mom cosigned that loan for me to help me establish my credit worthiness. I paid it off a year early and started racing it before I moved up to a new 1980 GS750E and then a used track ready GS1000E that I raced. Everything after that first GS550E was purchased for cash.

The funny thing is, now as an old established coot, I'd never advise a 19 year kid with a part time job to buy a bike on credit. That bike that I raced in WERA was my commuter bike to/from college when I finally got my act together and went back. Sometimes you just gotta do what you love and deal with the consequences. Fortunately it all worked out for me. It's just interesting how our perspectives change now that we're "the old man."
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Old 05-19-2017, 10:40 PM
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Re: I found out how much value is lost in these bikes

Quote:
Originally Posted by Daboo
I've been thinking about this thread for a while. There's another aspect we haven't considered. And while I'm using Pipeman's situation here, it really has far broader implications.

So you ("you" in general), take a K1300S out to the track and it isn't fast enough. So you want a S1000RR. It's a wee bit faster. Both bikes cost what??? In real terms well over $20K. If the K1300S wasn't fast enough, then you're trying to squeeze another couple tenths of a second out of the S1000RR. To do that, you're riding on the edge. (If not, you'd be riding like me...slow. )

Here's the point I realized when I was riding crazy on the road through some really nice curves once. One slip up, and you've totalled your bike. It's towed away. You've still got the loan to pay...but no bike, even. Professional racers have a sponsor who pays for the bike, but those of us who are mere mortals only have ourselves.


I have friends who do track days. But they buy used bikes they can race. Drop. Pick up and ride away. And if they can't ride it away, they can afford because of the low cost, to walk away from the wreck. That's how mere mortals do it.

Chris

Well known rule... never bring anything to the track you can't walk away from financially or emotionally when it is all balled up against a tire wall.....
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  #46  
Old 05-20-2017, 09:30 AM
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Re: I found out how much value is lost in these bikes

It's not about me but I'll share my story nonetheless. Dealer trade-ins are for the rich or desperate. I had a 2015 F800GT with 10K miles on it and the dealer offered me $5.5K for it. Sold it privately for $8K to a great buyer. But by now you understand the perils of financing and trade-ins.

I did manage to pick up a 2016 K13S MS Edition as a dealer demo with full warranty for a click less than $15K, and with the sale of my FGT was only $7K out of pocket for a new bike, with very low mileage. All that to say, try selling it yourself as others have said. You'll at least make something on it and eliminate the debt. Then onto a new bike..any reason you don't want to keep it? It's a fine piece of equipment.
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Old 05-20-2017, 09:59 AM
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Re: I found out how much value is lost in these bikes

Quote:
Originally Posted by DUCMAN 70
Hmmm, I'll have to check my rates as I have Progressive also.

I pay $16.75 monthly for three bikes:

09 Yamaha FZ6R
11 Ducati 1198SP
12 K 1300 S HP

However, that is only liability coverage. I have no tickets or wrecks in forever and a 800+ credit score.

Full coverage would be more but I don't believe a substantial amount.

I will say this, I definitely got a good discount with Progressive with multiple bikes.

I had a ZX 14 and then I added my wifes Yamaha and the policy dropped $300 a year.

Weird

Not trying to hijack the OP's thread but I pay Dairyland $672 annually for full coverage w/towing on the following bikes:

2002 R1150RT
2005 Ducati ST3
2006 K1200s

Same as you with credit score and no claims, no performance awards.

I've bought and sold many bikes from/to other states. In fact, that's how I got my K12s. I found and sold bikes using Cycletrader and the IBMWR marketplace web site. I bought a K1200RS through eBay then hitched up my trailer, drove to Ohio, and picked it up in person. I'm also an MOA member and have done lots of parts & accessory deals through their classifieds forum.

In addition to the above I've inspected bikes for out of state buyers as a result of my affiliation through this and other MC forums. It would be helpful if you don't limit your prospects to your immediate region. Heck, even I was tempted to ask you to post pics because I'd love to have a K13s! But then my inner adult slapped me around and brought me back to fiscal responsibility.

Seriously, somewhere out there is a buyer for your K bike, you just need to make the bike buying public aware of what you have!
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  #48  
Old 05-21-2017, 11:52 PM
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Re: I found out how much value is lost in these bikes

Another possibility is to sell the unit privately and bring the buyer to the dealer for closing for a "in and out" deal on that 1000SS you want. You can roll the difference you owe into the new loan but still get full asking price from your private sale. If you are buying another bike, the dealer will do this type of deal for you.
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  #49  
Old 05-22-2017, 08:39 AM
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Re: I found out how much value is lost in these bikes

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Originally Posted by dehaile
You can roll the difference you owe into the new loan

This is exactly how people end up with a $50,000.00 Saturn insured for $3,000.00.
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Old 05-22-2017, 12:56 PM
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Re: I found out how much value is lost in these bikes

Quote:
Originally Posted by WPV
This is exactly how people end up with a $50,000.00 Saturn insured for $3,000.00.
Didn't the banks try that with home loans a few years ago?
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Old 05-22-2017, 01:12 PM
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Re: I found out how much value is lost in these bikes

Quote:
Originally Posted by cabnfvr
Didn't the banks try that with home loans a few years ago?
No.
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  #52  
Old 05-22-2017, 02:05 PM
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Re: I found out how much value is lost in these bikes

I would not be rolling anything into anything else. Just pay if off and move on.
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