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Author Topic: Buy back wreck????  (Read 2806 times)

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PAPA T

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Buy back wreck????
« on: April 23, 2009, 02:57:55 PM »

If you have seen pics of the aftermath of my accident there is not much left except motor/tranny, rear wheel, battery cover and odds and ends.


So what is a good price to buy it back for?   Apparently they (insurance) wants me to make an offer?
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arcticdude

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Re: Buy back wreck????
« Reply #1 on: April 23, 2009, 03:10:04 PM »

Offer them no more than 15-20% of the original sticker.  They should counter and then you can see whether it's worth it for you.
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Screamin

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Re: Buy back wreck????
« Reply #2 on: April 23, 2009, 03:13:13 PM »

I was gonna say a grand. No reason other than it seems you can make out a little if you take the time to part it out.
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Twolanerider

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Re: Buy back wreck????
« Reply #3 on: April 23, 2009, 03:33:13 PM »

I was gonna say a grand. No reason other than it seems you can make out a little if you take the time to part it out.

That's what came to my mind also.  All the tins are shot.  Most of the peripeharal chrome also.  Forks have to be a question.  Even if the frame is straight it'll be branded salvage. 

Really buying it just to save and reuse some (small-ish) engine mods.  Maybe have a spare set of tires and wheels to save time pre-mounting when old ones are worn out.  Then hopefully selling some other bits (primary, starter, etc etc etc) to try to recoup a little.

Gain some spare parts.  Sell some spare parts.  Hardly seems more than $1k's worth of savings/effort there to me too.
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SBB

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Re: Buy back wreck????
« Reply #4 on: April 23, 2009, 03:38:42 PM »

That's what came to my mind also.  All the tins are shot.  Most of the peripeharal chrome also.  Forks have to be a question.  Even if the frame is straight it'll be branded salvage. 

Really buying it just to save and reuse some (small-ish) engine mods.  Maybe have a spare set of tires and wheels to save time pre-mounting when old ones are worn out.  Then hopefully selling some other bits (primary, starter, etc etc etc) to try to recoup a little.

Gain some spare parts.  Sell some spare parts.  Hardly seems more than $1k's worth of savings/effort there to me too.

I agree!
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deaf1

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Re: Buy back wreck????
« Reply #5 on: April 23, 2009, 08:28:16 PM »

Dont do it....  After mine went down last summer I got a decent settlement from the insurance...

I asked them the same question about buying it back and they told me there are a bunch of rebuilders for harleys that will bid up to 30% of retail just for the engine etc...  Not worth the effort to piece the stuff out...

I feel your pain
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Re: Buy back wreck????
« Reply #6 on: April 23, 2009, 08:46:54 PM »

Without sounding like a vulture...

Did the Derby cover survive unscathed?

And if it did, would you sell it? Hell, even if it was damaged, would you sell it?
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DCFIREMANN

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Re: Buy back wreck????
« Reply #7 on: April 23, 2009, 09:32:59 PM »

Dont do it....  After mine went down last summer I got a decent settlement from the insurance...

I asked them the same question about buying it back and they told me there are a bunch of rebuilders for harleys that will bid up to 30% of retail just for the engine etc...  Not worth the effort to piece the stuff out...

I feel your pain

WE HAVE A WINNER!!!!! You will never get that bike for a grand! If you think you are you are on something. There is no way in hell the insurance company is going to let it go for that. I bet they are looking for 5 grand or more. Remember you are not the first in the industry that has totaled a bike THEY KNOW WHAT THEY CAN GET FOR IT!!!! And it is a lot more than a grand.

Walk away and take the money and buy another bike.

Be Safe

THE DAWG
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sadunbar

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Re: Buy back wreck????
« Reply #8 on: April 23, 2009, 10:20:28 PM »

When I hit a deer with my 2004 SEEG at 80 mph - the bike went end over end multiple times on the Interstate 90...  bags torn off, tour pak torn off, fairing torn off, frame bent, forks bent, shocks bent, swing arm bent, front wheel bent, not a single piece of salvageable chrome or bodywork.  Could not shift the transmission.  The motor started.  The bike was totaled, but I asked my insurance company about buying the wreck back (Progressive).   They told me a salvage company in Iowa had offered 10K for the bike - sight unseen (pictures only).  They told me I could have it for the 10K.  I asked them when the truck was going to arrive to haul it away...   :nixweiss:
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MUFFMAN

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Re: Buy back wreck????
« Reply #9 on: April 24, 2009, 05:06:34 AM »

It's amazing what the salvagers will offer. My financial advisor totalled off his 08 aniversary Ultra late last fall. $24,000 damage. Canadian of course. He thought he'd do the same thing and purchase it back for a few bucks.Salvagers paid the insurance almost $18,000. What the hell do these guys smoke? I saw the bike and it wasn't worth any more than a grand to me.
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BMF-110

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Re: Buy back wreck????
« Reply #10 on: April 24, 2009, 08:52:40 AM »

After bike burned the insurance never even asked about it, took 3 pictures and bam, I realize burned is burned but I figured $500.00- 1000.00 at least,never said a word just received the title in the mail. A good friend has Foremost and rearended a mini-van on an old shovel,lowrider I believe sharp bike ran like a scolded cat sharp paint job , totaled it motor ran ,tranny, frame etc. Not sure if it was because its an older bike but they never put up a fuss and told him he could have her back for $600.00.(sounded about right) That was last year, not sure if the times dictate how tight they monitor their stuff or what!!
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RYANCVO

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Re: Buy back wreck????
« Reply #11 on: April 24, 2009, 04:15:24 PM »

maby i can help. been an insurance adjuster for 10yrs. salvage values  on  bike varry from reigon to reigon. typically salvage value is higher on bike from up  north. down here in texas, salvage value on bikes is quite low. 10% of acv (actual cash value). to bid on bikes in most insurance salvage auction u have to have a salvage license. private auctions, like wrecker/police auctions are open to the public and peope seem to bit those up so high that it effects value on others. if all that is salvageable is the motor. its problaby not worth buying back unless your going to do a custom rebuild. then it is bassicly what you want to pay for the motor. sometimes u get an adjuster that just wont budge. but they usally offer it for higher than what they will actually take. hope this helps.
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PAPA T

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Re: Buy back wreck????
« Reply #12 on: April 25, 2009, 08:53:30 AM »

Well, they wanted $8200!!!   I told em to keep it.

I was thinking of making it into a "Pro-Street" type bike keeping the Anni theme but for that price I would buy a new motor and a Baker!

Pick up the new one Tues/Wednesday next week.   Gotta get it broken in before ES!!!

Tim

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robonel

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Re: Buy back wreck????
« Reply #13 on: April 25, 2009, 04:52:43 PM »

If you have seen pics of the aftermath of my accident there is not much left except motor/tranny, rear wheel, battery cover and odds and ends.


So what is a good price to buy it back for?   Apparently they (insurance) wants me to make an offer?


Where are your pics and how did you come out?
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Unbalanced

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Re: Buy back wreck????
« Reply #14 on: April 26, 2009, 10:23:27 AM »

My original 05 Cherry was totaled by the adjuster and they wanted 7k for it, tried getting the price down lower and they said they already had a standing offer for a guy that takes the totals / scraps out of the country.

Seemed really ridiculous they totaled the bike for 31k in damages and then wanted 7k on top of it.    :nixweiss:
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