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Offline Berber

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Second hand values
« on: September 25, 2013, 01:10:48 PM »
Given the TPS failure I had, I looked at other bikes and last week popped back to my dealership. I asked what the tradein cost of my bike was and was shocked to find that they would only give me £9k for it as a trade in.

Personally I think that is a disgusting sum given it is only 7 months old. It has 12k (miles) on the clock. Had it had less the value would be £9.5k. I guess I shall keep it and run it into the ground.

'The farther one travels, the less one knows.......'

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Offline w8d4it

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Re: Second hand values
« Reply #1 on: September 25, 2013, 02:26:48 PM »
Stunning...disturbing...and disappointing
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Offline Paulvt1

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Re: Second hand values
« Reply #2 on: September 25, 2013, 05:22:38 PM »
You should see the amount of BM K16's for sale locally. Some are even going on ebay. Best policy is to buy used and keep for a year or two - or, as you say, keep forever..

Offline Roger

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Re: Second hand values
« Reply #3 on: September 25, 2013, 06:19:48 PM »
Mmm that is disappointing, Mine was the first bike or car that we have ever bought new, it was a 50th birthday thing, it took me a while getting my head around buying it new because of de-valuation, but it was a one off and I will probably keep it for 10 years.

I wonder if you went to a different dealer they would offer more ?

Roger

Offline Cide1

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Re: Second hand values
« Reply #4 on: September 25, 2013, 07:32:57 PM »
That doesn't sound too horrible to me.  It actually sounds quite reasonable.

I am American, so I did a quick translation into US dollars which I understand much better.  9500 British pounds is about $15275.  My bike has every feature in the book, plus a top case, backrest pad, and mounting bracket.  I paid $19,400 new including the extra bits.  I figure any dealer is going to need to make 15% profit on any bike they take in on trade to be worth their trouble, which means they would aim to sell the bike for about $17500.  I don't know about you guys, but I'd rather pay $19,400 for a new bike than save $17,500 for a used one, so it may be a hard sell at this price.

Another way of looking at it, is that the bike depreciated $1900, and the dealer is charging a $2300 sales commission.

If it were me, I would have the bike fixed under warranty and ride it like a stole it.  These are tremendous bikes, with tremendous features, and a beautiful motor.  If you want to get rid of it, sell it personally.  I think the dealer just told you that $17,500 is a good starting price to ask.

Offline cropbiker

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Re: Second hand values
« Reply #5 on: September 25, 2013, 10:06:36 PM »
There are very few bikes or cars with anything like a reasonable residual if you are just going to keep it for a year..

I keep my cars and bikes for at least 6 years and even out the cost of ownership
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Offline w8d4it

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Re: Second hand values
« Reply #6 on: September 25, 2013, 10:55:01 PM »
Good point Cropbiker.  I buy all my vehicles new and keep them a loooong time.  My ST is 11 years old. My Corvette is 11 years old.  My wife's car is 6 years old and my daughter's is also six.  No plans to replace any of them as they are all, pristine and running fine.  Keep a vehicle a long time and eventually the initial purchase is completely amortized
« Last Edit: September 26, 2013, 12:22:12 AM by w8d4it »
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Offline Berber

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Re: Second hand values
« Reply #7 on: September 25, 2013, 11:08:06 PM »
I could get more for selling privately but I have had such fun this last week that I won't be getting rid of it.
'The farther one travels, the less one knows.......'

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