WTF!? insurance???

[Myself002]

Style need not be overly expensive:

http://cgi.ebay.com/ebaymotors/1968-VOL ... dZViewItem

I would totally buy that...

[Sev]

ARGH people

Link


And it looks like "Link"

[Myself002]

but i dont wanna ruin the integrity of the quote.

[flynrider]

bike was sold to me for 10600, went up to 13K after all the taxes, registration, and warranties.

i was paying $152/month on it bec i made 5K down.

i better get close to 5K from the insurance.

they valued the bike at 9600, im gonna complain about that. the bike's only 4 months old when it was stolen and nope, they don't know that i crashed.

The insurance company does not care about registrations or extended warranties. If there is any residual value left, in the registration or warranty, it's up to you to recover it.

As I explained in the thread a few weeks ago, they are going to pay you the market value of your bike, which is a used '06 model. I know you've been around enough to know that any brand new vehicle loses a hefty percentage of its value when it drives off the lot. Well, that percentage is something that you eat when you decide to buy new. I noticed that some companies like Allstate are selling expensive add ons to policies that will buy you a new replacement vehicle if yours is stolen/totalled in its first year of life. They're not doing it for free.

Frankly, I'm surprised that the value they quoted was only $1000 below the purchase price. I would have expected a higher drop in value from new to used.

[fireguzzi]

link

yay! i figured it out! I have to be the smartest person EVER!!
oh wait, sev told me how.

[FlyerPhil]

Back on the bikes, you need to get over your buying used phobia. Let someone else take the depreciation hit you just experienced.

+1

[basshole]

I bet if you look hard enough you can buy your bike back on the street somewhere. Check around Compton I'll bet you can find it.

[moto_hanki]

they valued the bike at 9600, im gonna complain about that. the bike's only 4 months old when it was stolen .

Sorry man, Kelly Blue Book lists the retail value of your 2006
GSX-R1000 at$8575. I would deffinately not accept the first offer they present to you, but you need to provide them with
information about the value of the bike, like ads from magazines, or dealer info, ads from craigslist or E-bay. Back up your case with evidence that your bike is worth more than they are offering.

http://www.kbb.com/kb/ki.dll/ke.kb.mr?k ... 0;;;;&&&&&

[canuckerjay]

Financing something like a motorcycle is plain dumb, IMO. You end up paying for the bike x2 by the time the loan is paid off.

Depends. I put a good sized down payment and secured 1% interest over 3 years. The bike will likely be paid off before then. But I definitly agree that financing in general is never a good choice -- if you can buy it outright, do it. I certainly would not have financed at the higher rates that are offered when you buy in season.

Verm, go buy a used EX250/500 if you really want to just ride. You can pay cash for it, and it won't be above your skill level like a 600/liter SSbike. Insurance will be cheap, and you won't have to worry so much about it getting dinged up/stolen.

Or forget the bike now and worry about finishing school.

+1.
Dude, like many, I've been there. I had my old Seca when I started University. Couldn't afford the upkeep on it and had to dump it in my 2nd year. Thought that once I graduated, I'd be able to go buy the bike I really want. Nope -- graduated and a first year teacher makes squat. Also got married, bought a house, and had to start paying off my 40k student loan.

It's been 5 years since I graduated and I've now got a nice beast in my garage. I look back and think that I might have been able to go out and get something HEAVILY financed earlier; but I'm glad I didn't. That's a lot of pressure and stress.

Advice? Wait.

It's not fun to have to wait. I felt really envious every time I saw a bike go by for every one of those 8 years I was off the road. But people have to look realistically at thier situation. If I had bought a nice bike earlier, I would have been struggling to make ends meet every month. And for what? A luxury. A bike is not a necessity at all in L.A. -- its as much a luxury as other toys people spend thousands on. You can either afford a toy, or you can't.

You're financially unstable at this point in your life, and truly, the best thing you can do is take in your education as best you can and try to have some padding in the bank. Spending most of what you have (as your plans elude to) is dangerous. One unexpected expence and you're done for. Why go through all the stress? School is enough to deal with right now. Take that in and once you're stable, buy again.

[canuckerjay]

hmmmm, i have another plan....

so i have 2K in the bank, i'll get 2K from the car accident case, and i'll get another 2K, to say the least, from the theft case.

so that's 6K in total. i'll see if can get a good deal on a 600, install lojack and still have some money left on the bank in case i lose my job.

then i'll register it to both me and my dad so that i can include it in his insurance. i'll just pay him for the bike's share on his premium.

AAA doesn't insure a bike unless you also have a car insured w/ them. AAA gave me the best quotes so far. i checked dairlyland but they don't have bike insurance service in CA.

but then again, i dunno if my dad will agree to that.

i think i can survive w/o a car. i don't have a GF and i don't carry too much when i go to work and school.

maybe there's still hope.