Ya, if you are going to build it and keep it. No big deal other than insurance hassles, possibly. If you are going to do it for a quick flip, there are better ways to make money with less headaches.
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Ya, if you are going to build it and keep it. No big deal other than insurance hassles, possibly. If you are going to do it for a quick flip, there are better ways to make money with less headaches.
If you're sure and comfortable with the money it'll take to fix it, go for it. You won't be able to get full insurance on it, though.
Used Ducati Monster in good shape with low miles is $6000-8000 right now, if he can get into the bike for $3k and then decides to sell it in a couple years even with the salvage title he should be able to get all his money out of it. I think he's more concerned about it being safe.Quote:
Originally Posted by Tinelement
Personally, I'd stay away.
Since they're worth 6-8k, the appraiser doesn't believe they can fix it for that price. To me that indicates the frame/engine are damaged, since fork+wheel should only be about $1500 or so.
Quote:
Originally Posted by gos
^^^ This ^^^ Was about to say the same thing.
You guys have a good point about the insurance. I need to check that.
Again if I do this it is not to resale it.
You will still have a money pit and be throwing good money after bad to get it up and going.Quote:
Originally Posted by ruthabagah
I haven't done it here in Colorado, but have flipped 3 bikes in other states that were salvaged. This is how it works in Mass, MI, and PA.
The insurance company will give you an itemized list of EVERYTHING that they think is wrong with the bike (right down to orings on on pegs). You will have to replace EVERY item on this list
SAVING RECEIPTS for everything you buy (an ebay receipt from a private party does not work). Once this is done, you'll trailer it to an inspection station (I believe that Colorado state police do the inspections here). They will check the insurance report, your work, and ALL your receipts. They will decide if the bike is safe and parts not stolen.
Some states will assign a new vin, others will just stamp salvage on the old title (both ways will be a salvage title).
You'll then look for an insurance company (progressive will insure salvage bikes, but only compulsory insurance). You'll then pay taxes and fees at the DMV and get your plate.
PA was awesome, MI and MA sucked
I'm the 5%...I have no problems buying salvage BUT keep in mind that the value is about 60% of a clean title, and if you do try and sell, the buyer will be unable to get a loan on a salvage bike.Quote:
Originally Posted by sniper7
ALSO here's some advise. Take LOTS of pictures both of the damage and your repair. If you show how minor the damage was in one picture and show a good quality repair in the next...the bike will be much easier to sell when the time comes-you may even get better money for it that way
Or you could spend 3k on ammo and shoot it up in a day. That would be a money pit too.....Quote:
Originally Posted by SideShow Bob
Take whatever you expect to spend and multiply it by two possibly three and that's what you're going to actually spend on the rebuild.
Personally I wouldn't do it. Lets say you can be into this thing for $4K. You're $4K into a bike that's worth $4-$5K and running a bike with a salvage title. I don't care how well you rebuild a bike once the frame has taken an impact the structure has been compromised and will never be as strong as it was new.
For $4K you can have a bike with a big giant question mark on it. We're talking about a machine that is capable of reaching high speeds in a very short amount of time and you WILL push that machine harder than you might think. You can spend an extra $2K and not have that big question mark.
Peace of mind doing 100+ MPH is worth a lot more than $2K to me.