[spericolato]

Would anyone on here like to share how they sold their salvage title bike? I'm sort of nervous it might take me awhile.

I have a '10 848 that I bought brand new. It's a solid bike with only 4k miles on it. I lowsided it at Willow Springs and had it all fixed up at the dealership. I find it outrageous that they wanted to total it. I have some nice aftermarket bits on it- Leo Ti slip-ons, NGR rearsets, some carbon bling, DP seat, Puig screen..

Is it true no one can get financing on salvage bikes? Are there many folks around that would spend this much cash on a track bike? Is consignment worth it?

Note- this is not a for sale post yet! BTW what ballpark should I be asking? I have no idea but found several '10 red 848s like mine in the SoCal area for ~$10.5k

 

[Pachuco]

Would anyone on here like to share how they sold their salvage title bike? I'm sort of nervous it might take me awhile.

I have a '10 848 that I bought brand new. It's a solid bike with only 4k miles on it. I lowsided it at Willow Springs and had it all fixed up at the dealership. I find it outrageous that they wanted to total it. I have some nice aftermarket bits on it- Leo Ti slip-ons, NGR rearsets, some carbon bling, DP seat, Puig screen..

Is it true no one can get financing on salvage bikes? Are there many folks around that would spend this much cash on a track bike? Is consignment worth it?

Note- this is not a for sale post yet! BTW what ballpark should I be asking? I have no idea but found several '10 red 848s like mine in the SoCal area for ~$10.5k

yes it is true that a bank will not fund a motorcycle that has been salvaged. Some one with good credit could take a personal loan. Unfortunately you will be very hard pressed asking anywhere near 10k for that bike now

 

[spericolato]

I wouldn't ask 10k. I've seen track 848s that have been crashed multiple times with all the stock fairings, etc thrown away for 8-9k. I hope mine would be considered somewhere in between and not a track only beater. Of course now a lot of great 848s, 1098s, 1198s, are on the market because of the 1199 and MV F3s coming out.

 

[Ducposer]

eh, I'd give you $4500 to $5500. Its hard to find a company for insurance, and then most will only will give you the minimum due to the salvaged title.

 

[Wonway]

^ Financing is not as big of a problem as insuring. If they totalled the bike hopefully you got a decent payout to get it up and running again. You could have handed them the keys and washed your hands, but obviously you bought it back. Don't expect to double dip and get away scot free.

 

[sburns2421]

I was considering a salvage-title 1098 this winter. Asking price (completely repaired with only cosmetic damage) was $7500 with no takers on consignment at a dealer.

State Farm (at least in Missouri) will insure a salvage vehicle once it passes inspection.

Couldn't find anyone that would loan on the bike. I didn't consider the personal loan route. I guess I could have put it on a credit card for convenience, but wanted to negotiate in cash. But I decided against the bike anyway. It recently sold after sitting for nearly a year.

So in effect what you have with your 848 is a bike that is essentially branded forever, and will be worth perhaps 70% of the value of a non-salvage 848, everything else being equal for the rest of its usable life. Your pool of potential buyers is much smaller because many will not even consider a salvage title vehicle, and it is a cash bike.

Honestly, despite the 848 being popular where you are, even an asking price of $8500 actually seems optimistic. You will get a lot of people wanting to buy the bike for nothing. Expect it to sell in the $7k range.

 

[spericolato]

Hmm. All good info. I don't think insuring the bike in CA is a problem from speaking with my office and hearing some other stories. I took the time and money to go through all the proper steps (paperwork, inspections, new tags) with the DMV to have it re-registered and all that. BUT insurance will probably only cover its salvage value despite all repairs, which is like $3k or so.

I bought the bike back because the damage was really minimal and I wanted to keep it! I planned on keeping this one forever. But some recent unexpected and irreversible personal reasons are forcing this sale. With how much it time and money it cost me to buy back and fix, I wish I had just handed the insurance company the keys when I had the chance! I could easily part it out for $4k. I'd hope for $8.5k max but would accept $7k.

 

[Jbone]

Just thought....Not sure how available they are OR how much it would cost you, but if you were desperate, you could, in theory, buy a clean title 848 frame and rebuild your bike around that. Voila... clean title bike. A lot of work, but might be worth it in the end.

 

[jcns]

Hmm. All good info. I don't think insuring the bike in CA is a problem from speaking with my office and hearing some other stories. I took the time and money to go through all the proper steps (paperwork, inspections, new tags) with the DMV to have it re-registered and all that. BUT insurance will probably only cover its salvage value despite all repairs, which is like $3k or so.

I bought the bike back because the damage was really minimal and I wanted to keep it! I planned on keeping this one forever. But some recent unexpected and irreversible personal reasons are forcing this sale. With how much it time and money it cost me to buy back and fix, I wish I had just handed the insurance company the keys when I had the chance! I could easily part it out for $4k. I'd hope for $8.5k max but would accept $7k.

Not attacking you, maybe it's lack of detail. It does not add up, if the damage was minimal, why would the insurance company total a $10K bike? My insurance company totals property when cost of repair is greater than 75% of the market value.

If you have the repair bill, it might help you sell the bike. You can show the potential buyer what was damaged and what was repaired.

 

[Doc's Duc]

In CA, neither insuring or registering the bike is a problem (the first registry after salvaging must be done through an inspection with DMV/CHP, however, IIRC), but as stated, getting financing can be. Luckily, we're not talking about a king's ransom here, so many people may be able to pay cash anyway, or as someone else mentioned, pull a personal loan for it.
Unfortunately, as you're also starting to realize, the value plummets with the salvage title. I'd start at asking high 7s to low 8s, and negotiate your way down from there if necessary.
Best of luck with it -

 

[ffkevinking]

so

so the bike has already been totalled by your insurance company? How much did you buy it back from them for? then take that number and add 500-1000 and call it a day.

kev

Would anyone on here like to share how they sold their salvage title bike? I'm sort of nervous it might take me awhile.

I have a '10 848 that I bought brand new. It's a solid bike with only 4k miles on it. I lowsided it at Willow Springs and had it all fixed up at the dealership. I find it outrageous that they wanted to total it. I have some nice aftermarket bits on it- Leo Ti slip-ons, NGR rearsets, some carbon bling, DP seat, Puig screen..

Is it true no one can get financing on salvage bikes? Are there many folks around that would spend this much cash on a track bike? Is consignment worth it?

Note- this is not a for sale post yet! BTW what ballpark should I be asking? I have no idea but found several '10 red 848s like mine in the SoCal area for ~$10.5k

 

[ffkevinking]

where are you seing these?

kev

I wouldn't ask 10k. I've seen track 848s that have been crashed multiple times with all the stock fairings, etc thrown away for 8-9k. I hope mine would be considered somewhere in between and not a track only beater. Of course now a lot of great 848s, 1098s, 1198s, are on the market because of the 1199 and MV F3s coming out.

 

[Chuckracer]

A previous thread about the damage...

http://www.ducati.ms/forums/56-superbikes/126061-frame-damage-need-insight.html

 

[spericolato]

Thanks for all the replies everyone! I was out of town this weekend so haven't had a chance to respond.

It is pretty darn easy to total a Ducati given the cost of OEM replacement parts. For example, my swingarm got scratched up but has NO structural damage whatsoever. Well there's a ~$3000 part right there. With the cost of fairings, handlebars, a snapped foot peg, misc bolts; things can add up and exceed 70% of the value of the bike very quickly.

Chuckracer found the post I made when I first crashed at Willow asking for some insight on frame damage. There is one small mark similar to the photo of the pink bike in the above post, but not quite as bad. It looks and feels like a dent just in the paint like I dropped a heavy pan on a stove top with that heavy duty appliance paint. I am extremely paranoid so made the post and had several experts look at it. Everyone laughed and said it's totally straight. Before I started this thread I searched the forum and found other people talking about how their bikes have been totaled because a scratch on the frame.

Either way, the buy back cost was NOT low and by the time I'm all done with paint and cosmetics the repair bill will be $2k. The paint shop that specializes in Ducatis said that they see the frame dings all the time and could easily cover it up so no one would ever see it for a very minimal cost. I chose to keep it as-is so I could show any potential buyers what happened and that the crash wasn't that bad.

Right now I'm debating if I should put more money into it for paint and cosmetics, or if I should sell it as-is under the assumption that somebody would want it for a track only bike and put track fairings on it. I will probably put it on Craigslist and wait a few months. If I doesn't sell by autumn I'll move it over to the dealer and try for a consignment sale.