 Totalled bike - to buy back or not
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Joined: Jun 2012
Posts: 41
Greenhorn
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OP
Greenhorn
Joined: Jun 2012
Posts: 41 |
So had a slight incident with my 05 Speedmaster, twisty road, gravel, laid her down into grassy ditch. I'm ok, slightly bruised. Damage to the bike from what I could tell. Front fender cracked, headlight smashed/bent, left foot peg bracket bent, shift rod bent, and left BC cocktail shaker exhaust dented. The clutch lever mount on the handle bar got tweaked, and the mirror/turn signal bent. Some very light scratches that could probably buff out on the tank, but not dented. Triumph dealer tallied up 5900 dollars in parts to get it factory new again. The bike runs, dealership said wheels, fork, and frame are fine.
Waiting to get the final numbers from the insurance company as to reimbursement and what the buy back number would be. I would think I could find headlight, clutch lever/mount, shift rod and foot peg bracket used and the bike should be rideable again. Never went through this before. What do you guys think? Thanks!
05 Speedmaster, airbox gutted, BC Cocktail Shakers, 135 mains.
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Re: Totalled bike - to buy back or not
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Joined: Jun 2012
Posts: 41
Greenhorn
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OP
Greenhorn
Joined: Jun 2012
Posts: 41 |
Oh and she has just over 9k miles on her.
05 Speedmaster, airbox gutted, BC Cocktail Shakers, 135 mains.
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Re: Totalled bike - to buy back or not
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Joined: Jun 2012
Posts: 41
Greenhorn
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OP
Greenhorn
Joined: Jun 2012
Posts: 41 |
They would essentially charge 1426 if I wanted the bike back with a salvage title.
Last edited by speedybrand; 10/23/2012 3:28 PM.
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Re: Totalled bike - to buy back or not
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Joined: Mar 2005
Posts: 2,419
Oil Expert
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Oil Expert
Joined: Mar 2005
Posts: 2,419 |
For me it would mainly come down to the maths. Current value of an 05 with 9000 miles - (1426 + cost of repairs). If the balance of the equation is significantly positive your are way ahead. How much did they pay you out?
You could do a lot of repairs much cheaper than what the dealer quoted and you could do exciting new stuff like custom paint. I would want to do it. It's still a near new bike with that mileage and its still straight. I know I would also have emotional investment in keeping the bike I had done so much work on. But that's me. Maybe you are glad f the opportunity to get a new bike and then you would approach the buy-back as a profitable reselling opportunity. The difficulty there is I would feel morally (and legally here in Oz) obliged to tell the buyer the bikes history.
Cheers, Richard
~~~~~~~~~~~~
09 America, Staintune Pipes, K&N, Breathe, Hagon Nitros, AI & O2 removed, tune 20184 (modified), MTX-L a/f gauge
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Re: Totalled bike - to buy back or not
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Joined: Jan 2006
Posts: 7,705 Likes: 23
Monkey Butt
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Monkey Butt
Joined: Jan 2006
Posts: 7,705 Likes: 23 |
Fix it, there are a ton of parts on Ebay for dirt cheap. Fenders are under 100 bucks.
I try to aggravate one person a day. Today may be your day.
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Re: Totalled bike - to buy back or not
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Joined: Aug 2009
Posts: 2,580
Loquacious
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Loquacious
Joined: Aug 2009
Posts: 2,580 |
Did you manage to ride her after the crash? If you did, definitely fix her up, she don't want to loose you 
Too old to die young, too ugly to leave a good looking corpse
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Re: Totalled bike - to buy back or not
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Joined: Feb 2008
Posts: 2,671 Likes: 15
Loquacious
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Loquacious
Joined: Feb 2008
Posts: 2,671 Likes: 15 |
A question to ask is whether you would buy your bike for the salvage cost + repair cost. If you plan to keep it a long time, then you probably would. If not, then understand that a salvage title can be a resale killer. That said, IMO the motor alone is worth the salvage cost. Even if you buy it & part it out you'll come out ahead.
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Re: Totalled bike - to buy back or not
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Joined: Jan 2005
Posts: 6,308 Likes: 4
Worn Saddle
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Worn Saddle
Joined: Jan 2005
Posts: 6,308 Likes: 4 |
Quote:
A question to ask is whether you would buy your bike for the salvage cost + repair cost. If you plan to keep it a long time, then you probably would. If not, then understand that a salvage title can be a resale killer. That said, IMO the motor alone is worth the salvage cost. Even if you buy it & part it out you'll come out ahead.
Yea, what BO says. Motor worth that much alone.
A word to the wise is not necessary. It is the stupid ones who need the advice.
Pat
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Re: Totalled bike - to buy back or not
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Joined: May 2007
Posts: 5,068 Likes: 1
Saddle Sore
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Saddle Sore
Joined: May 2007
Posts: 5,068 Likes: 1 |
Dang, these bikes are 'sposta be as dear to us as a congenial coon dog or well, whatever dog, or well, whatever critter that's endearing. So, if the aforementioned endearing critter was injured, would we want to toss it for some cash? NOOO !! Keep it, give it a new life. Heck, even if it was unrideable, I'd keep it in the house and make some kinda chair thing out of it. That's all I have to say about that. 
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Re: Totalled bike - to buy back or not
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Joined: Jan 2005
Posts: 2,240
Oil Expert
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Oil Expert
Joined: Jan 2005
Posts: 2,240 |
Quote:
Quote:
A question to ask is whether you would buy your bike for the salvage cost + repair cost. If you plan to keep it a long time, then you probably would. If not, then understand that a salvage title can be a resale killer. That said, IMO the motor alone is worth the salvage cost. Even if you buy it & part it out you'll come out ahead.
Yea, what BO says. Motor worth that much alone.
What he said. Like it was said earlier.
Keith
Houston
Ridin'Texas
'04 Speedmaster
AI removed, Pingle, UNI Filter, 1 shim, straight-through slash-cut TORs, Stage 1 DynaJet, 140 mains, 3 turns, 16/42 final drive, 115K
2020 T120 Black
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Re: Totalled bike - to buy back or not
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Joined: Jul 2007
Posts: 6,060 Likes: 6
Worn Saddle
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Worn Saddle
Joined: Jul 2007
Posts: 6,060 Likes: 6 |
Do ya wanna ride it or not?! Take the cash, keep the bike and fix those little things. Then ride it all day long. I bought my bike salvage (payed too much, tricky dealer), smacked a deer a year later, took the money and salvage titled again, still riding it and it still looks and works fine.
Fidelis et Fortis
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Re: Totalled bike - to buy back or not
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Joined: Jan 2005
Posts: 11,126 Likes: 13
Should be Riding
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Should be Riding
Joined: Jan 2005
Posts: 11,126 Likes: 13 |
Quote:
They would essentially charge 1426 if I wanted the bike back with a salvage title.
Drop the claim altogether. Use the $1,426 to fix her up. Unless the payout would be so large as to be irresistible. 
Blowing gravel off rural roads
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Re: Totalled bike - to buy back or not
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Joined: Jun 2012
Posts: 41
Greenhorn
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OP
Greenhorn
Joined: Jun 2012
Posts: 41 |
Well, the payout is more than I purchased the bike for. So I would be breaking even for all the aftermarket stuff I put on it. I would need to sell the bike for at least 3k after fixing it to make out better than taking the payout. However, then I will have a bike with a salvage title, that is that much harder to sell. Parting it out maybe an option, but I don't have the time or resources to ship everything out, especially things like the motor and frame.
Looks like I will be taking the payout and the insurance company will be doing the part out...
What to get next..............
05 Speedmaster, airbox gutted, BC Cocktail Shakers, 135 mains.
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Re: Totalled bike - to buy back or not
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Joined: Aug 2009
Posts: 1,669
Learned Hand
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Learned Hand
Joined: Aug 2009
Posts: 1,669 |
If I'm not mistaken certian insurance companies will let you take some of the aftermarket parts.
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Re: Totalled bike - to buy back or not
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Joined: May 2008
Posts: 740
Adjunct
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Adjunct
Joined: May 2008
Posts: 740 |
Quote:
I would need to sell the bike for at least 3k after fixing it to make out better than taking the payout. However, then I will have a bike with a salvage title, that is that much harder to sell. .
Looks like I will be taking the payout and the insurance company will be doing the part out...
..............
In my experience Bikes with salvage titles go for about 1/2 to 2/3 of the KBB value.
Bill.
"I spent a lot of money on booze, birds and fast cars. The rest I just squandered."
-George Best
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Re: Totalled bike - to buy back or not
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Joined: Mar 2005
Posts: 2,419
Oil Expert
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Oil Expert
Joined: Mar 2005
Posts: 2,419 |
Cheers, Richard
~~~~~~~~~~~~
09 America, Staintune Pipes, K&N, Breathe, Hagon Nitros, AI & O2 removed, tune 20184 (modified), MTX-L a/f gauge
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Re: Totalled bike - to buy back or not
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Joined: May 2010
Posts: 5,720
Check Pants
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Check Pants
Joined: May 2010
Posts: 5,720 |
Quote:
KBB.?
Kelly Blue Book of new/used vehicle values. They are on the web as well. All things are still only worth what another is willing to pay, whether a value is stated in a book or not...IMHO
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Re: Totalled bike - to buy back or not
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Joined: Jun 2012
Posts: 41
Greenhorn
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OP
Greenhorn
Joined: Jun 2012
Posts: 41 |
Yeah, I saw some slightly damaged and repaired america's and speedy's with salvage titles. Owners asking about 2500 dollars. Not worth the hassle for me.
Looking for a new bike. Going to stay in the Trump family, but I think a Speed Triple might be next. Didn't do enough long rides to justify a cruiser style for me, and I live by some great twisty backroads. Although, I loved the looks and sound of my Speedy. It will be missed.
05 Speedmaster, airbox gutted, BC Cocktail Shakers, 135 mains.
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Re: Totalled bike - to buy back or not
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Joined: Mar 2005
Posts: 2,419
Oil Expert
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Oil Expert
Joined: Mar 2005
Posts: 2,419 |
I can understand the 'not worth the hassle'. Let us know what you get and your experience of same. 
Cheers, Richard
~~~~~~~~~~~~
09 America, Staintune Pipes, K&N, Breathe, Hagon Nitros, AI & O2 removed, tune 20184 (modified), MTX-L a/f gauge
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Re: Totalled bike - to buy back or not
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Joined: Aug 2007
Posts: 10,736 Likes: 7
Should be Riding
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Should be Riding
Joined: Aug 2007
Posts: 10,736 Likes: 7 |
I would never let mine get scrapped. 
Always remember to be yourself. Unless you suck. Then pretend to be someone else.
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Re: Totalled bike - to buy back or not
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Joined: Feb 2007
Posts: 23,246 Likes: 64
Fe Butt
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Fe Butt
Joined: Feb 2007
Posts: 23,246 Likes: 64 |
I would never scrap mine either, even if I had to chop it when I got it back.(wanna build a chopper around the modern engine eventually anyway. Money is the only obsticle right now. Just started tearing off my roof and rained the next day. Now concerned I won't get it done before this bad storm hits.
I learned all I need to know about life by killing smart people and eating their brains.
Eat right ,Exercise ,Stay fit, Die Anyway!
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Re: Totalled bike - to buy back or not
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Joined: Feb 2008
Posts: 2,671 Likes: 15
Loquacious
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Loquacious
Joined: Feb 2008
Posts: 2,671 Likes: 15 |
Quote:
...Just started tearing off my roof and rained the next day. Now concerned I won't get it done before this bad storm hits.
Oh man...you gotta get it done now. Hire someone if you need to. Trust me on this.
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