November 19th, 2018, 12:18 PM | #1 |
ninjette.org member
Name: Topaz
Location: South Florida
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What's the value of a bike with a rebuilt title?
What's the value of a bike with a rebuilt title?
Any experience buying, using and years later selling a bike with a rebuilt title? I came across a 2016 RSV4 that suffered a low side. It's supposed to be 100% well mechanically. It has damaged in pretty much every plastic on the left side and a scratch on the gas tank. It also has a dent in the frame, which was probably the reason why it was totaled. The title is currently a salvage. I think that after repairing or replacing the plastics, one mirror and one rear turn signal, it should be ok for a rebuild title, but I don't know for sure, as I think it has to go through an inspection before getting the new title, and I don'n know how good the bike has to be to pass the inspection. The average value of KBB and NADA for this bike now is about $11k. The seller is not the original owner. He must have gotten it from a friend or from an auction. So I'm tempted to make him a low offer, repair the bike and enjoy it. But, of course, a bit concerned about how hard it can be to re sell the bike some years from now. I'm not thinking in making any money. I expect the bike to loose value through the time I own it. I just don't want to get stuck with a bike that I won't be able to sell. |
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November 19th, 2018, 01:39 PM | #2 |
ninjette.org member
Name: terry
Location: SW fla
Join Date: Sep 2009 Motorcycle(s): 2007 250r Posts: 94
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Ask your insurance company if they will insure it. After that ride it to death, then part it out.
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November 19th, 2018, 01:52 PM | #3 |
ninjette.org guru
Name: Pat
Location: SW VA
Join Date: Feb 2015 Motorcycle(s): 286, 296, 599, 799 Posts: 436
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read the law on transferring salvage titles between private parties. It's not legal here.
From an auction to you is legal, then you get it rebuilt and a new title issued in your name. |
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November 20th, 2018, 07:07 AM | #4 |
ninjette.org member
Name: Topaz
Location: South Florida
Join Date: Mar 2017 Motorcycle(s): 2013 Ninja 300 / Suzuki DR-Z 400 SM Posts: 214
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^^ Good point. I'll check that out.
I don't have the time or the place to part out a bike. I wish I had. Looks like fun. I would only get liability insurance, as I rarely park my bikes in public places. Thanks for the comments. |
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November 20th, 2018, 10:57 AM | #5 |
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In CA, it's perfectly fine to sell bike with salvage-title. But you won't be able to get comprehensive insurance, just liability-only. Sale prices are lower to account for this.
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November 26th, 2018, 06:46 PM | #6 |
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Around here Salvage title is 1/2 to maybe 3/4 full value.
So if the bike is worth $11k, that's $5,500-$8,250 AFTER it has been brought back to original specs, so deduct the cost of fixing it up from that. |
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November 27th, 2018, 07:10 AM | #7 | |
Rev Limiter
Name: Jay
Location: WI
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Quote:
It has to be really cheap if it's messed-up because even if it looks fine when you are done fixing it it's still not going to get close to it's normal book value. |
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November 27th, 2018, 07:52 AM | #8 |
ninjette.org member
Name: Topaz
Location: South Florida
Join Date: Mar 2017 Motorcycle(s): 2013 Ninja 300 / Suzuki DR-Z 400 SM Posts: 214
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This is only picture I have. I didn't go to see the bike.
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November 27th, 2018, 08:03 AM | #9 |
Rev Limiter
Name: Jay
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I'd never buy something like that sight-unseen, if that's what you would have to do.
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November 27th, 2018, 08:27 AM | #10 |
ninjette.org member
Name: Topaz
Location: South Florida
Join Date: Mar 2017 Motorcycle(s): 2013 Ninja 300 / Suzuki DR-Z 400 SM Posts: 214
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^^ The bike is local for me. If I decide to go for it, I'll test ride it, and probably take it to my mechanic to have it checked by him.
But I chilled out for the moment. I may come back to it. Now I'm trying to figure out on line if transferring a salvage title is legal in Florida. The seller speech has a loop hole too, so I have to move very careful if I do this. Miami is a nest of crooks. |
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November 27th, 2018, 01:56 PM | #11 |
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Note that there's difference between totaled bike vs. restored bike with salvage-title.
Totaled bike can be bought from insurance-auctions or outfits like Co-part. These are discounted well below market-value due to repairs needed costing more than current market-value of bike. So crashed 2017 ZX-10R can be had for $1000 of less (depending upon condition) if you want one. Salvage title is attached to a restored bike. You spend whatever's needed to bring vehicle back to street-worthy operation. In CA, you file "application for salvage certificate", "application for title/registration", etc. along with a bunch of other paperwork. Then vehicle gets inspected by CHP/qualified-shop for various safety items like suspension, brakes, lights, etc. Take all that paperwork to DMV and get registration with "salvage title" for vehicle. In CA, when you see "salvage title" that just means restored vehicle from whatever condition caused insurance to total it, to its current useable/registerable state. It has minimum operating condition, perhaps not very good cosmetics. Some restored/salvage-title are better than most used vehicles or as good as new vehicles. Pricing for such vehicle is then relative to its condition vs. new one or other used models on market. With mark-down for liability-only insurance since its market-value has already been paid-out once. You buy "salvage title" bike like any other used one; get PPI and check everything. I bought my 2006 CBR600RR in 2008 well below market-value for $2500 as race-only bike with salvage title. Market-value for similar bikes were around ~$5500+ at time. Original owner dropped it in corner and broke all bodywork. Insurance totalled it, and sold it to 2nd-owner (a friend) for $250. The 2nd-owner then repaired all damage and replaced bodywork with Optimal race-fairings and raced it for a year. I bought is as 3rd-owner and installed headlights, turn-signals and taillight to make it street-legal. Used it for 10-years and sold it last month for $4500; almost doubling my money. The salvage title will never go away, and discount for liability-only insurance varies. Most used bikes won't carry full-coverage comprehensive anyway as 4-5 years of that will cost you as much as another similar bike. So in CA, discount for salvage title isn't that significant provided condition is comparable to other vehicles without salvage-title. |
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November 27th, 2018, 03:18 PM | #12 |
ninjette.org guru
Name: Pat
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November 27th, 2018, 03:20 PM | #13 |
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Yup, here too:
https://www.dmv.org/salvaged-vehicles.php Even gives you links to required paperworks state-by-state. Once vehicle has been "salvaged" or "rebuilt", ownership transfer is exactly same as normal-vehicles. |
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November 27th, 2018, 06:48 PM | #14 |
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Name: C
Location: Hawaii
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In 1st century BC, Publilius Syrus wrote: "Something is only worth what someone is willing to pay for it".
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"It ended up being the loose nut behind the wheel" |
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November 27th, 2018, 09:05 PM | #15 |
ninjette.org certified postwhore
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Heh, heh, ... and "buyer beware"!!!
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November 28th, 2018, 07:57 AM | #16 |
ninjette.org member
Name: Topaz
Location: South Florida
Join Date: Mar 2017 Motorcycle(s): 2013 Ninja 300 / Suzuki DR-Z 400 SM Posts: 214
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Great info! Thanks!
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