Book Value

[blimpo]

Book value helped me get an '06 with 7,000 miles for under $7,000, but it will bite me this spring when I try to sell my Venture.

[bokobob]

Yep, and I now think the best thing to do is buy fairly new, but used...Also, no trading in the old rig...just sell it for somewhere above trade in value, as much as you can get....might get a nice fair price, who knows..used from private owner also saves the cost of the dealer doc fee, although in my state, an advantage of trading in is we only have to pay tax on the balance due after the trade in is decuted..

I bought one bike new in 08 at a close out price and am trying to sell it for jus tmore than half and with a good number of add ons...

But I bought my wonderful 07 "Nad for a very attractive price and it has some nice add ons...

it averages out....

[audiogooroo]

Originally Posted by wolfman

yeah, I've been bikeless for over a year now.....

But he did acquire a really cool Jeep and can now enjoy more time with the whole family!

[Jared]

The quick drop in the book value has help me purchase my last two bikes. I would have a real real hard time buying a brand new bike off the floor. It take too much of a drop the second it leaves and there are so many extremely lightly used bikes on the market.

My 06 had pipes, light bar, top and bottom bag rails, fender tips, PC3, Kurykin grips and pegs, tank bib, shield bag, and a few other things. It only had 12K miles on it and I bought it for $7600, tax free.

[delivery58]

Those of us who have over 30,000 -40,000 miles on our bikes (which is not unreasonable), really take a hit on the open market. There are way to many low mileage cruisers out there For Sale, that it's difficult to sell a "high mileage" cruiser. I don't make enough money to simply look at my bike a just a fun toy. There is certainly a monetary asset dollar amount that I would like to recover from it in order to "step up" to a next bike. I think there is a balance between how long to keep a bike / mileage / resale.

[ells]

Two-edged sword - I got a great deal on a slightly used Nomad. Then apply Audio's logic on top of that and I'm a happy boy

[trosco]

Perhaps the reason all of this is a problem for you guys is you are not willing to keep things more than a year or two? Compare your situation to this. In 1973 I bought a Yamaha 750 new for $1400 and in 1986 with 71,000 miles I sold it for $450. People thought I was nuts to spend $6273 for a motorcycle (new 1986 Goldwing Aspencade) but then I sold it in 2007 for $4900. I buy new and keep a minimum of 10 years and maintain properly. My motorcycles (and cars and trucks) cost very little per year. The longer you keep them the less they cost and sometimes if you keep them long enough (1969 Vette bought in 1971 for $2100 and sold in 2003 for $34000) they will pay you to own them!

[Top Cat]

I don't look ay my Nomad as an investment either. I bought it 'cause i like the look and the way it rode. I got 40,000 miles on it now and it is a 2007.
I will have 100,000 on it before it is even paid for. Does that bother me, hell no, I have so much fun riding with my wife and my friends I can't even put a price on that.
Trosco, how much money did you put into that Vette between 1971 and 2003

[oledawg]

Originally Posted by audiogooroo

But he did acquire a really cool Jeep and can now enjoy more time with the whole family!

;) Right on!
Wolfie has his priorities in the right order.
Most of us old goats gave up riding for quite a few years to spend time raising our children. And spending time with them in their endeavors. Time well spent and never regretted! ;)

[ponch]

You can do both. I think a lot of guys give it up out of guilt. In fact, when I was kid, I wished my dad had kept his bikes, and he never got one again. A shame. Think of it this way: It's an investment in creating future motorcyclists.

Originally Posted by Ole Dawg

;) Right on!
Wolfie has his priorities in the right order.
Most of us old goats gave up riding for quite a few years to spend time raising our children. And spending time with them in their endeavors. Time well spent and never regretted! ;)

[billz410]

Originally Posted by trosco

Perhaps the reason all of this is a problem for you guys is you are not willing to keep things more than a year or two? Compare your situation to this. In 1973 I bought a Yamaha 750 new for $1400 and in 1986 with 71,000 miles I sold it for $450. People thought I was nuts to spend $6273 for a motorcycle (new 1986 Goldwing Aspencade) but then I sold it in 2007 for $4900. I buy new and keep a minimum of 10 years and maintain properly. My motorcycles (and cars and trucks) cost very little per year. The longer you keep them the less they cost and sometimes if you keep them long enough (1969 Vette bought in 1971 for $2100 and sold in 2003 for $34000) they will pay you to own them!

Gosh that hurts, trosco!! :)

But you're exactly right, if you're buying new anything, and then wanting to sell it soon thereafter, you're likely in for a good kicking. I have found myself in that situation more than once due to my Gotta-Have-It syndrome. May be OK if you've got oodles of cash.... which I don't. Pretty sure none of us will do as well with our Nomads as you did with your GoldWing or your 'vette!!

[Jared]

Originally Posted by trosco

Perhaps the reason all of this is a problem for you guys is you are not willing to keep things more than a year or two? Compare your situation to this. In 1973 I bought a Yamaha 750 new for $1400 and in 1986 with 71,000 miles I sold it for $450. People thought I was nuts to spend $6273 for a motorcycle (new 1986 Goldwing Aspencade) but then I sold it in 2007 for $4900. I buy new and keep a minimum of 10 years and maintain properly. My motorcycles (and cars and trucks) cost very little per year. The longer you keep them the less they cost and sometimes if you keep them long enough (1969 Vette bought in 1971 for $2100 and sold in 2003 for $34000) they will pay you to own them!

True number for number, but not value for value. Check out this sight. It tells you, according to Consumer price index, GDP, wages etc, what $xxxx in the past is worth in today's dollar value.

http://www.measuringworth.com/uscompare/

[trosco]

TC, I did the normal consumables (tires, batteries, brakes) and maint items (oil, filter, plugs, points, fluids). Also In 1973 I had Midas muffler put a lifetime guaranteed exhaust system on it. They replaced the entire system 2 times under that warranty, I paid for new rear hangers for the mufflers (rubber) both of those times.
Beyond consumable itemsin 221,000 miles I put on two tops, two clutches, a master cylinder, and replaced the carpet. And in 2001, I bought a new set of tires from a Goodyear dealer in Michigan. Their tech mounted what they said were miss-marked tires on the front. When he turned the wheels as he backed it off their rack he broke both lips on front fenders. The repairs were really minor but because the car was cortez silver the paint could not be matched so they ended up paying for an entire paint job. That was done incredibly well by C Bell Chevrolett in Grand Rapids Mich and it a big part of why the car sold for $34,000. The paint job was easily worth twice the $5000 they charged the insurance co.
Some more FYI: bought a 1970 Ford Stepside pickup in 1974 for $2100 and sold it in 1999 for $2500, I still have the 1999 Dakota I replaced it with (11 years and counting towards 2019). And the 02 Vette I have is at 7 years and counting towards 2027.
Yes I do understand that $2500 in 1999 was not worth as much as the $2100 was in 1974 but it feels good to use things for a long time and then sell them for more than you paid for them. And that "feel good" sensation is worth a bunch!

[Top Cat]

Thanks for the reply trosco, I was just curious as I usually buy high and sell low :-/
Not by choice but that is how it usually works out. ;)

[billz410]

I hear you, TC. When I buy something it seems to be the latest-greatest-nothing-else-like-it model, only one of it's kind, but when it comes time to sell, suddenly it's considered J-U-N-K.