Selling before payoff - Stromtrooper Forum : Suzuki V-Strom Motorcycle Forums
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post #1 of 10 Old 08-09-2007, 11:46 PM Thread Starter
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Selling before payoff

I have found my next bike (zx14 )and am trying to figure out what the best way to handle the transition between rides. I see myself having two options:

1) Pay it off first, then sell it. Use the money from that towards the new one.

2) Sell it now, use part of the money for payoff and the rest towards the new one.

I like option 2 because it allows me to get a new one sooner and it seems like it will end up the same in the end as far as money goes. I owe about $2800 on it right now. Any reason to wait to pay it off before selling? Is is harder to sell without title in hand?

One more... how much should I ask for an 06 1000 with just over 15,000 miles? Its got some extras but I've heard that extras really don't increase the price much so I wasn't gonna count them in the price. Thanks.

2006 dl1000- grey

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post #2 of 10 Old 08-10-2007, 02:45 AM
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I won't really say on the price, that is up to you and the buyer. I would think about taking the farkles off and selling them separate if you are looking for max cash out of the bike (because you are right... they aren't worth too much during resale).

Good luck. (I think you should keep it!)

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post #3 of 10 Old 08-10-2007, 03:25 AM
 
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post #4 of 10 Old 08-10-2007, 08:16 AM
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Quote:
Originally Posted by bigtallguy View Post
I have found my next bike (zx14 )and am trying to figure out what the best way to handle the transition between rides. I see myself having two options:

1) Pay it off first, then sell it. Use the money from that towards the new one.

2) Sell it now, use part of the money for payoff and the rest towards the new one.

I like option 2 because it allows me to get a new one sooner and it seems like it will end up the same in the end as far as money goes. I owe about $2800 on it right now. Any reason to wait to pay it off before selling? Is is harder to sell without title in hand?

One more... how much should I ask for an 06 1000 with just over 15,000 miles? Its got some extras but I've heard that extras really don't increase the price much so I wasn't gonna count them in the price. Thanks.
I would just sell it. I've done it several times with cars- just tell them you'll send the title when you get it. Once you pay off the loan, it only takes a week or so to get the title.

I always take all of the farkles off and sell them separately, or in the case of universal farkles like Givi bags, I keep them for the next bike. It's more trouble, but you'll get more of your money back by selling the bike stripped and the farkles on this forum, ebay or craigslist.

Bill
DL650K6
Pat Walsh skid plate, engine guards, oil filter guard; Givi E52 Maxia topcase with brake light, backrest and luggage rack; Amotostuff adjustable topcase mount; Givi E360 sidecases; Givi windscreen; Madstad AWM; Powermadd handguards; Fenda Extenda; Rick Mayer saddle; Suzuki centerstand, Moose Racing Quad Hi bars, Suzuki tank bra...
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post #5 of 10 Old 08-10-2007, 09:46 AM
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Quote:
Originally Posted by stromguy View Post
I would just sell it. I've done it several times with cars- just tell them you'll send the title when you get it. Once you pay off the loan, it only takes a week or so to get the title.
And I would never by a bike/car without a clear title in hand. I had a buddy buy a car with the promise of the title as soon as he paid off the loan - the only problem was the seller didn't. He took all the cash and bought something else with it. A bunch of time and lawyers got it all starightened out, but way too much of a headache to deal with.

Pay off the bike - sell it - buy what you want.

Take care,
Bob S.

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post #6 of 10 Old 08-10-2007, 10:01 AM
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Agree with Redbeard

If you have the title in hand, that's just one less complication between you and whoever buys your bike, sounds like a good idea to me.

Also agree with the guys that recommend you return the bike to stock and sell the farkles separately. You'll get more of your money back for them if you sell them separately, vice if you sell them as part of the bike. When I traded in my pos triumph, the proceeds from all the aftermarket stuff I sold made a big dent in my loan balance!

good luck with whatever you choose to do

Michael D. Rodriguez

[FONT="Impact"][SIZE="5"]2007 DL1000 Black [/SIZE][/FONT]
Purchased new 17 MAR 2007


Stuff and Mods: Yosh'd 5% on Low/Medium, Secondaries out, Grip Puppies, Givi V35N Cases and PLX 528 Mounts, Givi T440 Tank Bag, Motovation Frame Sliders and SuperMoto Engineering Swingarm Sliders, Master's Spacers, Chopped rear fender, Sargent seat, MSR Dominator Bar, Murph's Kit Fork Brace


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post #7 of 10 Old 08-10-2007, 10:07 AM
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Def. sell the farkles, you'll get rid of them easy on here, and IMO people like buying bikes in stock form.

As far as the title goes, I sold my last bike without title in hand, but when the buyer was here we went straight to the credit union and counted out the money to the teller and they handed him the title. Easy peasy. I don't think my lack of title in hand hurt my sale at all. You could always just list it and see what happens, if you find the right buyer it shouldn't matter much.

1997 Kawasaki ZG1000 Concours, [COLOR="DarkGreen"]GREEN[/COLOR]

Old bikes:
2001 Kawasaki ZRX1200R, [COLOR="Lime"]GREEN[/COLOR], sold
2005 HD FXDCI, sold
2003 Yamaha FZ1, "Bee", sold
2005 Suzuki DL1000, Black, sold
2002 Yamaha FZ1, Silver, sold
1991 Kawasaki Ninja ZX-6D, sold
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post #8 of 10 Old 08-10-2007, 10:16 AM
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+1

I won't even go look at a bike that doesn't have title in hand unless the price is way more competitive than the current other bikes on the market.

From a buyers perspecitve there is a huge cash trust issue with a stranger.....a bike in hand with a bill of sale is basically useless until you can get a title. (some places take weeks to send a new title -so it's the buyer who has to sit and wait - not a buying incentive IHMO)

Chuck

Quote:
Originally Posted by Redbeard View Post
And I would never by a bike/car without a clear title in hand. I had a buddy buy a car with the promise of the title as soon as he paid off the loan - the only problem was the seller didn't. He took all the cash and bought something else with it. A bunch of time and lawyers got it all starightened out, but way too much of a headache to deal with.

Pay off the bike - sell it - buy what you want.

Take care,
Bob S.
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post #9 of 10 Old 08-10-2007, 10:31 AM
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Most Kawasaki dealerships...

allotments on the ZX14 are 1 per month for the next several months. You may have trouble finding one that isn't already sold. If you do find one unsold buy it finance the whole thing and then sell your other bike. Otherwise you could go months without 2 wheels to ride.

Good luck in your search!

[U][URL="http://moveyourmoney.info/"]Move Your Money[/URL]
[/U]

Last edited by Berserker; 08-10-2007 at 11:35 AM.
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post #10 of 10 Old 08-14-2007, 08:20 PM
 
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title woes

I traded in a Buell to the dealer (because for Karma reasons I couldn't bring myself to sell that piece of crap to a person) and a month and 3 days after I paid it off the dealer is STILL waiting for the title. The bank said it would take them 3 weeks to mail out the title and then they forgot.

I agree with the others that I would never consider buying a bike without title in hand (unless from a personal friend).

my $0.02
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