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.

 

[DaSwami_imp]

Mine wouldn't sell for $5200....traded it straight across for a brand new TW200...good luck

 

[emptysea]

I couldn't sell mine for more than $7,000 and I wouldn't sell mine for less than $15,000.

 

[jimgl3_imp]

why would anyone sell their CB? not me!

 

[Houtman_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.

The dealer has credit card cost and I always want that amount for myself , it is more than the 1 % I get on my rebates from the credit card company.

 

[Banned_imp]

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

That's my rule for everything. I financed my first pick up truck and first and second house, everything else has been cash only.

Been completely debt free since I was 39 years old. My wife and I live fairly simple lives.

 

[LongRanger_imp]

The current market value of the OP's bike has nothing to do with how he paid for it (cash or finance). If he financed it at 0%, he did well. Profit is usually made by buying well, not by selling well, especially when it comes to depreciating assets. You have some control over the first, but not the second.

 

[holy666diver_imp]

So glad all you responsible people have $8-10k cash to pay for a bike. I was 26 and did not have that kind of cash on hand. I am not asking advice about paying in cash or to be told I "should have paid cash" you think I'm stupid? Obviously I know that, but either way it's a loss. I was asking for feedback on peoples experience on resale or trade in values.

 

[the Ferret]

Imo the only way to come out OK on a motorcycle buy and sale, is if you buy a motorcycle used, when it is near its " always be worth this amt price" . For example I bought a 2001 Yamaha FZ-1 for $ 3000, rode it for 2 years and sold it for $2850, so it cost me $150 to own that bike for 2 years (less tires oil, filters..etc...expenses you can't avoid no matter what motorcycle new or used). Today that same motorcycle would be still be worth $2500. Unless wrecked or beaten down, will always be worth $2500. So buying that bike now for $2500, years down the road, will have been a good investment, when you turn around and sell it.

The other option is to buy new and ride it intil you've gotten your moneys worth out of it. I bought my ST 1300 as a left over in 2008 and proceeded to ride it for 11 years and 107,000 miles and counting. I could give it away today and will feel as if I've gotten my moneys worth ( but think I will just keep on riding it, since it's not worth anything to anyone else anyway.. )

Buying a new motorcycle, even if you get a great deal on it, will never be a good investment financially if you sell it within a couple of years. Whether you finance or pay cash.

 

[Banned_imp]

Sorry, I didn't mean to offend you. I also didn't have that kind of money at 26.

The used bike market is terrible around here right now, you can't give them away.

Also, you'll find that threads often drift around here. Best to be prepared for that.

 

[VLJ_imp]

holy666diver Wrote:you think I'm stupid?
"I'll take 'Questions one should never ask on the internet' for $500, Alex."