Low resale value

[holy666diver_imp]

My family is growing and we have a need to get a larger vehicle. I have been thinking of selling the CB but the used price-tags I have been seeing are ridiculously low. I have even seen brand new cbs going for $5999!! I paid $9500 for mine and still owe 4k on it. I can't justify letting it go for less than $6500. Has anyone had luck with trade ins? Part of me wants to keep this bike but we are having trouble fitting two car seats in a civic and can use the money for an SUV.

[LongRanger_imp]

$4000-$5000 for a used '13 or '14 is about current retail in my area. Add $500-$1000 if it's a '14 DLX. Trade-in values are lower. Keep in mind the CB wasn't a strong seller when new (witness the leftover '14's still available), so expecting a firm price on a used one could be challenging.

[el duque_imp]

If it has low miles you are in a better position. the fact that you need to sell and owe $ - weaker position.

You can wait and try and get more but.... lots of bike will be going on the market..spring is upon us.

my experience....cause hindsight is 20/20....take your inevitable loss and move on.

Then next time ....pay cash.
all that said...you should get $6500.
just need to have the prson looking see your add.
it aint easy.

just when you think all is list you will have 3 people interested at the same time

[4 Paws_imp]

Yep, bikes are hard to sell at any price. Not much demand for them. Local BMW dealer sat on a used one for a year before moving it.
Try your local Honda shop, they might sell on consignment.

You won’t make a profit.

[holy666diver_imp]

If it has low miles you are in a better position. the fact that you need to sell and owe $ - weaker position.

You can wait and try and get more but.... lots of bike will be going on the market..spring is upon us.

my experience....cause hindsight is 20/20....take your inevitable loss and move on.

Then next time ....pay cash.
all that said...you should get $6500.
just need to have the prson looking see your add.
it aint easy.

just when you think all is list you will have 3 people interested at the same time

I had used bikes that had endless issues so i though buying the cb new would give me piece of mind but did not have 10k cash to buy so i financed.

[reinie_imp]

I've had eighteen motorcycles in 48 years and only made money on one of them and it was totaled. The insurance gave me more than I paid for it. Other than that I broke even on one once and lost money on the remaining ones. I'm still riding number eighteen yet and fully expect to take a loss on it when the time comes. Good luck!!

[el duque_imp]

Yep. been there done that. You aren't the only one.

You might chk around - some used car lots will take bikes (probably newer like yours) in trade for cars / suvs.

you should chk out the nada and blue book values as a bench mark. The Colorado market seems way low.

Southern Califa? Should be a lot of old farts that want to re-live old times on their CB1100.

Good Luck.

I was looking for a Triumph specifically cause I know the resale value is good. Bad part there weren't that many to be had and I didn't want to buy new.

I know my CB11 isn't going to be easy to sell either.

I hear ya on the used bike situation....

[Obleo]

If you needed to finance it , should have waited and saved enough to pay cash. Don't let the borrower be a slave to the lender. Don't ask how I know that quote?

[Houtman_imp]

I only pay cash for a motorcycle , never finance a hobby !

[PowerDubs_imp]

I had the cash for my CB, but I told the dealer if he wanted to sell it I wanted to use my CC.

So they did, I paid the car off a few days later once it posted and happily took the points.