[TestaDuc]

I know this question has been asked by many on this forum. Usually asking about price and the reason behind such an idea. This is probably no different other then it's me now.

Reason for question:
Okay the wife and I are both employees of the great State of California, anyone who has seen the news knows we're in a budget crisis. We have been hit with furloughs and a pay cut. Both are to end in July of 2010. We're not completely destitute but we no longer have the play money we had before, we've been making cuts to our spending since March of this year.

Now it seems the Duc maybe the next on the cutting block. A 30% household income cut would hurt almost anyone I would think. My biggest problem is I love my Xerox, and to sell in this poor economy, I will take a loss.

Just looking for some opinions as to what you guys would do in my situation. Thanks for reading a long post and TIA to Ducati.MS for everyones replies.

John

 

[jonsgon]

i would try to keep it at all costs, try cutting other places first, they only made so many of those bikes and it would be a pitty to see you sell it and then regret it later.

the economy will turn around, maybe not tomorrow but it will.......

now if you want me to hold onto it for you.........

jon

 

[Enigma]

they did the same thing here, furlows and 5% employees responsibility for benefits which anyone knows adds up.

Picked up a second job. I like it and its not really work but I get to have everything plus more and I know that I can quit at anytime

 

[duc_season]

A 30% household income cut would hurt almost anyone I would think.

Not trying to bust your chops or anything...just trying to be constructive here. Before selling the bike, I might re-examine the income situation. If both you and your wife experienced a 15% reduction in your incomes on an individual basis, you haven't lost 30% of your household income....only 15%. In this case 2+2 doesn't equal 4.

Don't want to see you sell such a beautiful bike if you don't have to.

 

[pitbull03]

I would be really surprised if CA was able to bring salaries back to previous levels after 2010.

That being said, this is a horrible economy to sell a bike in - especially for a high end model. You gotta do what you gotta do.

 

[sfo423]

I would hang on to it if you can. Prices for toys are low; lots of sellers and few buyers. I just picked up a super RZV500R for peanuts. Two years ago, it was worth 2x what I am paying.

 

[dizzy999s]

I know this question has been asked by many on this forum. Usually asking about price and the reason behind such an idea. This is probably no different other then it's me now.

Reason for question:
Okay the wife and I are both employees of the great State of California, anyone who has seen the news knows we're in a budget crisis. We have been hit with furloughs and a pay cut. Both are to end in July of 2010. We're not completely destitute but we no longer have the play money we had before, we've been making cuts to our spending since March of this year.

Now it seems the Duc maybe the next on the cutting block. A 30% household income cut would hurt almost anyone I would think. My biggest problem is I love my Xerox, and to sell in this poor economy, I will take a loss.

Just looking for some opinions as to what you guys would do in my situation. Thanks for reading a long post and TIA to Ducati.MS for everyones replies.

John

Sorry to hear about your situation.

I would say list it on ebay and see what you can get for it. You never know.

What about selling the GSXR?

Good luck.

 

[ZDM]

Do you own it? or is it financed.....I wouldn't sell it unless you absolutely had to because it is financed....then I could see why you would want to get rid of it. If you own it, I would just sit it out. You're going 'give" it away now....you know when you sell it..... CA will do a flip and you'll be back on the gravy train. Keep it!

 

[oalvarez]

don't sell it until you absolutely have to as things "should" continue to improve as we move forward. if it's "play money" that you need, then only you can decide how important the bike is to the both of you. hec, you might even have a shot at buying something you like even more down the road. these last two years have caused many to curb certain purchases and learn new spending habits, i know i have, and selling a motorcycle, even a Xerox, is not a stupid thing to do.

sell it if you have to, keep it if you don't. there is no magic answer.

best success

 

[dirkwrong]

I know this question has been asked by many on this forum. Usually asking about price and the reason behind such an idea. This is probably no different other then it's me now.

Reason for question:
Okay the wife and I are both employees of the great State of California, anyone who has seen the news knows we're in a budget crisis. We have been hit with furloughs and a pay cut. Both are to end in July of 2010. We're not completely destitute but we no longer have the play money we had before, we've been making cuts to our spending since March of this year.

Now it seems the Duc maybe the next on the cutting block. A 30% household income cut would hurt almost anyone I would think. My biggest problem is I love my Xerox, and to sell in this poor economy, I will take a loss.

Just looking for some opinions as to what you guys would do in my situation. Thanks for reading a long post and TIA to Ducati.MS for everyones replies.

John

Selling it would only give you a temporary cash infusion, unless it is still financed. To prevent it from being a drain on your finances if you own it outright, then you should remove all the insurance from it, and store it.

If you still feel you need a cash infusion, then it would be easier to sell the Suzuki in this economy. Also, if you sell the Suzuki and store the Xerox, which means not riding at all for now, then you can remove all of your bikes from your insurance. You would also have no need to maintain the Suzuki or the Xerox. Not riding also means not wearing out your gear and bike parts, which also saves money.

 

[whippersnapper]

If it's financed sell it, otherwise keep it.

 

[nottaracer]

If it's financed sell it, otherwise keep it.

That's the big question. Do you owe anyting on it or is it clear? Personally, I would get rid of tv, the internet, and a few other "luxuries" before I got rid of the bike. Hold onto it for as long as you can.

 

[ducat]

Do you "need" the money? If so selling it is a short term fix as you'll burn through it and then what. If it's paid for you could non op it and not ride for the time being to save on the expensive registration and limit insurance compensate for theft or fire. If you still owe money on it and can at least get pay off for it you should probably sell. Other limited production specials will come along.

 

[dwheelie]

Hang on to it.

 

[esca_rossa]

Hang on to it.

+1

Do whatever else you have to do to keep it. Look for other options.

 

[TestaDuc]

Yes, it's still financed, that's why it's become a questionable keeper. My GSXR is paid for. It's really not about the immediate need of cash, I was just looking to possibly reduce some of our debut and free up a bit of cash monthly.

A few of my co-workers have lost there homes and are feeling it a bit more than we are. Sometimes it's hard to see the the light at the end of the tunnel. We've both made changes to our spending and household expenses so we're doing ok.

Thanks you guys I "really" want to keep her.
Trying no to make a rash discission and regret it later.

 

[oalvarez]

then sell it if you're not too upside down on it, but definitely sell the gsxr first (and pay off the Xerox).

 

[destaccado]

Why sell before you are absolutely sure you have to? If you're already willing to sell it at a loss; it shouldn't be hard to find a buyer a few months from now as opposed to right now......

 

[dirkwrong]

Yes, it's still financed, that's why it's become a questionable keeper. My GSXR is paid for. It's really not about the immediate need of cash, I was just looking to possibly reduce some of our debut and free up a bit of cash monthly.

A few of my co-workers have lost there homes and are feeling it a bit more than we are. Sometimes it's hard to see the the light at the end of the tunnel. We've both made changes to our spending and household expenses so we're doing ok.

Thanks you guys I "really" want to keep her.
Trying no to make a rash discission and regret it later.

Then you need to sell it. You'd save a lot on the insurance as well, since they require comprehensive and collision when it is financed.

 

[whippersnapper]

No-one can give you particularly useful advice without knowing your circumstance sin more detail. If you can't afford to make the payments without going into further debt with credit cards or such just sell it. If the situation isn't that extreme and you want to keep it and can pay it off within a year or so then keep it. Next time you buy a bike, save up for it and use cash - a good policy for anything that depreciates