11-22-2022, 04:47 AM
Thanks for the well wishes on the INT650.
I likely worry about "am I spending too much" / "is this a good idea" as much or more than the next person when it comes to finances, what's a good value, etc.
I've never done the new-bike-every-year or two, then sell, repeat...I tend to keep vehicles as long as possible. Last year I bought a leftover 2021 W800 Café. The MSRP for it was around $9600, but it was offered at $6000. Having missed out on the W650 (a bike I was trying to buy before the CB1100 came along), I thought what better chance, garage space be darned.
With freight/set-up, title and 4 years regsitration, the true out the door price was $7140 (OR has no real sales tax). I put 4000+ miles on it in 12 months. The tires were badly worn, I changed the oil, added grip puppies...that's it.
The place where I bought my Suzuki DR650 to replace my aging KLR wasn't interested in trade-in on the W800--manager wasn't familiar with the bike and didn't think it would sell to his normal customers. He's likely right...the bike never sold well, therefore the large discount.
I heard about Rumbleon (online "cash for your bike" business) and read a number of negative reviews...but a few positive ones as well. I thought what the heck; sent them the info on my bike and they offered $6200. I scoured the internet for used w800 prices and there were lots of people asking 6-7k...but lots of them were not selling very quickly either. My thinking was that if a dealer was having a hard time selling the w800 at 6k new, how well would I really do via Craigslist. So I accepted their offer of 6200. I was skeptical, but it all played out just fine...I send them the title, they send me a check, I deposit it, wait for it to clear...within a few weeks they pick up the bike. Easy peasy.
So the out the door price of $7140 - 6200 = $940 / 12 months = $78.33 per month of ownership. That's a very cheap rental and totally worth it for me.
In hindsight, I could have made less of a "head/money" decision and kept the w800, played with a new set of handlebars to improve the tight riding position, but the pangs of regret are not great. But no mistake about it, the W800 is a fun, fun bike to ride. Kawasaki has come out with the 2023 W800 (they no longer import the café version), and it's gorgeous, has upright riding position = less stress on the hips/knees/elbows...but way overpriced...again. I fully expect there to be 2023s available a year from now that will be discounted. It will be on my radar.
So for my INT650: my price was $5200. What's the worst I could sell for in a year? 4k? That would be $100 per month of ownership. I see people asking 5-6k for their 3 year old INTs with 3-5k miles on them. If I really had difficulty selling it, I'll call Rumbleon again. They told me that key for them is if the bike is in nice shape and less than 5k miles. Anything with more miles and their prices start to drop substantially. Lots of reviews on them complained of low-ball offers--that's not surprising to me, they are trying to make $. But I think I lucked out because of the extreme drop-off of the W's MSRP and what I paid. If I had paid 9k plus for my w800, an offer of 6200 would seem a low-ball offer.
And if after a year on the INT650 I really like it, well that's not a terrible thing...it's amazing how much space you can find in your garage when motivated.
Thought it would be fun to see cost per month on my KLR650: purchased for $4500, trade in got me 2200: $2300 cost to me over 14 years / 168 months = $14 per month, not including all the tire / oil changes, add-ons, etc. So yep, lots cheaper to keep the bike longer...but I'm getting older and enjoy the different rides, and I'm fortunuate to have my two, very different from each other, long-term bikes.
Way too many words!
(11-22-2022, 01:43 AM)misterprofessionality_imp Wrote: Ill have to pick your brain about the financial aspect of the"one year stand" philosophy. How inefficient is it, do you think, compared to keeping bikes long term?
I likely worry about "am I spending too much" / "is this a good idea" as much or more than the next person when it comes to finances, what's a good value, etc.
I've never done the new-bike-every-year or two, then sell, repeat...I tend to keep vehicles as long as possible. Last year I bought a leftover 2021 W800 Café. The MSRP for it was around $9600, but it was offered at $6000. Having missed out on the W650 (a bike I was trying to buy before the CB1100 came along), I thought what better chance, garage space be darned.
With freight/set-up, title and 4 years regsitration, the true out the door price was $7140 (OR has no real sales tax). I put 4000+ miles on it in 12 months. The tires were badly worn, I changed the oil, added grip puppies...that's it.
The place where I bought my Suzuki DR650 to replace my aging KLR wasn't interested in trade-in on the W800--manager wasn't familiar with the bike and didn't think it would sell to his normal customers. He's likely right...the bike never sold well, therefore the large discount.
I heard about Rumbleon (online "cash for your bike" business) and read a number of negative reviews...but a few positive ones as well. I thought what the heck; sent them the info on my bike and they offered $6200. I scoured the internet for used w800 prices and there were lots of people asking 6-7k...but lots of them were not selling very quickly either. My thinking was that if a dealer was having a hard time selling the w800 at 6k new, how well would I really do via Craigslist. So I accepted their offer of 6200. I was skeptical, but it all played out just fine...I send them the title, they send me a check, I deposit it, wait for it to clear...within a few weeks they pick up the bike. Easy peasy.
So the out the door price of $7140 - 6200 = $940 / 12 months = $78.33 per month of ownership. That's a very cheap rental and totally worth it for me.
In hindsight, I could have made less of a "head/money" decision and kept the w800, played with a new set of handlebars to improve the tight riding position, but the pangs of regret are not great. But no mistake about it, the W800 is a fun, fun bike to ride. Kawasaki has come out with the 2023 W800 (they no longer import the café version), and it's gorgeous, has upright riding position = less stress on the hips/knees/elbows...but way overpriced...again. I fully expect there to be 2023s available a year from now that will be discounted. It will be on my radar.
So for my INT650: my price was $5200. What's the worst I could sell for in a year? 4k? That would be $100 per month of ownership. I see people asking 5-6k for their 3 year old INTs with 3-5k miles on them. If I really had difficulty selling it, I'll call Rumbleon again. They told me that key for them is if the bike is in nice shape and less than 5k miles. Anything with more miles and their prices start to drop substantially. Lots of reviews on them complained of low-ball offers--that's not surprising to me, they are trying to make $. But I think I lucked out because of the extreme drop-off of the W's MSRP and what I paid. If I had paid 9k plus for my w800, an offer of 6200 would seem a low-ball offer.
And if after a year on the INT650 I really like it, well that's not a terrible thing...it's amazing how much space you can find in your garage when motivated.
Thought it would be fun to see cost per month on my KLR650: purchased for $4500, trade in got me 2200: $2300 cost to me over 14 years / 168 months = $14 per month, not including all the tire / oil changes, add-ons, etc. So yep, lots cheaper to keep the bike longer...but I'm getting older and enjoy the different rides, and I'm fortunuate to have my two, very different from each other, long-term bikes.
Way too many words!