value of salvage titled bike? pros/cons

[kwb210]

I have an "opportunity" to buy a 05 F650 with low miles, very low. It has a salvage title. I'm still checking into the damage that resulted in a salvage title. I believe it was bodywork. I am guessing value is about 50% of book value, the down side is not if but when it needs to be re-sold what is the value at that time? The bike will be used by my son, his current bike lives outside most of the year, basically a tough life cosmetically, mechancially it is taken care of.
I'd like to hear of riders experiences w/ salvage titles. I won't be carrying full coverage insurance on it, I don't ever do that, just liability so not concerned with any insurance companies input. That is not a factor to me.
Experiences? Problems at the dealers? I'm not looking for an opinion of what happens at the dealer, perfer a real life experience, probably lots of wifes tales out there. I don't know.
Thanks!
Kurt

PS: the value rage I'm looking at is in the $3-5,000 range. I don't think I'd do it at over $10,000, but then again, I don't know.

 

[kgadley01]

Don't be afraid of a salvage title bike. but do find out what the damage was. I would not pay more than 50% of book. the reason being, if and when you decide to sell it the salvage title is still there. EXAMPLE... Bike books for $10,000.00 and you get it for $5000.00 with the Salvaged title. you keep the bike three years and decide to sell it. the bike then books for $7000.00, you'd be lucky to get $3500.00 for it. My advice is... if you can buy it cheap, then by all means do so. then ride it till the wheels fall off and part it out....

 

[martinph]

Yes agree with kgadley01

Motorcycles can become Salvage for any amount of reasons, depending on the insurance companyÔÇÖs willingness to fix it or sell it. Some times its just plastic (that can be very expensive); Most times its front-end damage.
I bought a R1100GS with salvage title it had had the front forks, front wheel and a few other small items replaced. It was also scratched. The price was right and it gave me many tens of thousands of miles. Make sure there is no hidden damage. Heat is one to look for!
Remember it will always be worth less! Does that matter to you?
Hope this helps.

 

[108625]

Beyond resale, keep in mind you can usually only get liability insurance for it.
If it gets wrecked, stolen or anything else, it's a complete loss to you.

 

[kwb210]

Beyond resale, keep in mind you can usually only get liability insurance for it.
If it gets wrecked, stolen or anything else, it's a complete loss to you.

Actually that is not true. If you are not at fault the party that is at fault simply owes you the value of the item. If it is a salvage title then I'm surmissing from the comments that you would get about 50% of book, maybe less. But just because the title is salvage does not mean the at-fault gets off scott free, its not there lucky day. They owe you for the economic loss. And of course it always seems to be less then you think it should be!!
If you elect to carry full coverage the insurance company can say yes or no to providing coverage, the main reason for saying no is the hassle of establishing the value at the time of loss. A normal title is easy to figure out the market value, well, easier.

I think the line I like best is :
"Remember it will always be worth less! Does that matter to you?"
That is important. For me I don't really care what the value is if its somewhere under $3- 5,000, I want to ride it.


Thanks for the comments.
Kurt

 

[weggsa]

salvage?

Personally I get a buzz-kill on a salvage title.The problem is you always have the salvage title in your mind,always must be decleared!Bikes are too cheap to begin with.There is alot of good clean used low-dollar bikes around.Buy without the STIGMA!Good luck

 

[gblawler]

I do not have any experience with salvage titles. I was watching the "speed" cable channel recently, which is basically a classic car auction. One of the commentators mentioned that one of the cars at auction was a salvage titled car, and he said that meant the car could not be licensed for street use. From this discussion, I am assuming that is not true, since some have mentioned they bought and insured salvage titled bikes for, I assume, street use. Even if a bike could not be licensed, a GS could be used off-road, I suppose. But the TV commentator was saying the car could only be used as a show car. Could anyone clarify this based on first hand experience?

 

[RTFlyer]

I do not have any experience with salvage titles. I was watching the "speed" cable channel recently, which is basically a classic car auction. One of the commentators mentioned that one of the cars at auction was a salvage titled car, and he said that meant the car could not be licensed for street use. From this discussion, I am assuming that is not true, since some have mentioned they bought and insured salvage titled bikes for, I assume, street use. Even if a bike could not be licensed, a GS could be used off-road, I suppose. But the TV commentator was saying the car could only be used as a show car. Could anyone clarify this based on first hand experience?

I owned a Nissan 300ZX Twin Turbo with a salvage title in the mid 90's and had no problems licensing it in Missouri, nor did the previous owner or the guy I sold it to. It drove like a dream. After a simple performance chip upgrade and stainless Bassani exhaust it was fun too.

 

[ragtoplvr]

It is my understanding that some states will not license a salvage title. Missouri is NOT one of them, heck I think you can drive ride about any ole piece of trash here, as long as it has good glass and tires. Also, recently some states treat flood salvage different than wreck salvage.

If you know you will like the bike and run it for many years and miles, salvage can be the way to go. Also good for track bikes.

Hard to buy a salvage bike at the right price from a reseller, after they get their markup, you are better off clean used. As my Chinese friend says, too many hands. If you can buy from individual or from insurance, different.

And, if front end crash, always replace the steering head bearings, even if they feel smooth.

Rod