R1200GS Pricing

[texranger]

What's up TWT family!

I've got a few quick questions and hopefully somebody will help me here!

I work on bikes on my free spare time and a few months ago I meet this guy with a BMW R1200CLC that needed some help with it. I fixed little things here and there; the guy ended up with a great running bike and I learned a few tricks about the R-Series beemers.

A few days ago this same guy called and asked me to stop by his house and pick up his other BMW for a maintenance service. The other BMW is a R1200GS with 8k miles and she's a clean example.

I brought it home and since she's been in my garage I've been captivated more and more.
I made a comment the other day saying that if he ever wanted to sell it to please contact me.

The bike is still in my garage (waiting for some parts) and today he called me saying that he thinks he wants to sell it....oh snap!

It went kinda like this:

me: Ok, how much you want for it?
guy: Idk, shoot me an offer...
me: Ok, do you have the title and everything is ok with it?
guy: Yeah, but it has a SALVAGE title. I bought it like that 4 years ago and put not even 2000 miles in it. Iirc, the previous owner dropped and the insurance totaled it. Then he bought it back.
me thinking: W.T.F? she's in like new condition
me: You tell me how much you want for it and I'll tell you if I can afford it or not.
guy: Ok, $7500 for it or best offer.
me: let me think about it and I'll let you know. In the meantime I'll keep working on it.

So, what I do now? I really like the bike but I'm a newbie when it comes down to salvage titles, pricing, insurance etc etc.

Good deal or bad deal? Risks?

Thank you guys in advance!

Nick

[bigjnsa]

That sounds like a great price for a great bike. Insurance costs I don't know. On my 1150R I pay Progressive $80 a year so a 1200GS shouldn't be any more than that.

[texranger]

Is $7500 a good price even with a Salvage title??

[WoodButcher]

What year? ABS? Electronic suspension(esa)? Traction control(asc)?

Irregardless, that is a very good price on a 1200GS with that many miles. Check ebay, www.advrider.com and craigslist for similar bikes to verify.

Salvage title is fine. Common in the situation you describe.

[texranger]

The GS is 2006. It has ABS but not electronic suspension. Not sure about traction control. Tips on how to check if it came with that option? Vin?
Thanks,
Nick

[kurt]

ASC is traction control.

[M38A1]

Not sure Traction Control was even available in '06....

[texranger]

Cool, thanks!
No traction control on this one.

[DaveAlvarado]

If I could find a R1200GS for $7500, I'd buy it and never let it go. Just saying...

With clear titles, they tend to go for around $10k+

[Kit_McConnico]

Then what is ASC? My '05 doesn't have that. Either way it DOES have ABS, I would go for it.

[dfwscotty]

Here's a couple of ADV threads for the GS. First one is FAQ with tons of info.

http://advrider.com/forums/showthread.php?t=326162

Second one is the Hall of Wisdom with some technical articles on various makes of bikes.

http://advwisdom.hogranch.com/Wisdom/

Also spend some time reading through the "GSpot" section.

Since you work on them you will have an idea of what shape the bike is in as it presents itself. Looks nice!

[97kawi]

Nick, buy it!!!!!!!!

[ed29]

Question about a vehicle with a salvage title.... Does it need to be re-titled as rebuilt classification before you can get a plate for it? Years ago one of my sisters was buying a car, discovered after the deal that it had a salvage title. She was unable to plate it at that time. I am just wondering if that is still the case today.

[Tattoogunman]

Originally Posted by ed29

Question about a vehicle with a salvage title.... Does it need to be re-titled as rebuilt classification before you can get a plate for it? Years ago one of my sisters was buying a car, discovered after the deal that it had a salvage title. She was unable to plate it at that time. I am just wondering if that is still the case today.

I had the same question - I've been looking at bikes and have found a few with salvage titles. I know in some states it makes it **** near impossible to get a clear title, I don't know about Texas though - they don't really seem to care a whole lot about stuff out here

But if the salvage title does make it more difficult to get titled, I would definitely consider that into the price. Anyone with title experience??

[trainman]

When buying a bike look at the Kelly Blue Book and see what the dealer trade in value is and then look a the dealer retail price is. Try to buy your bike somewhere in the middle of those two prices, remember, the dealer retail price will most likely include some type of warranty and other incentives that he can give you, but a private seller can't do that. Always remember that BMW GS's are always priced too high and owner think that they are gold, but there just like every thing it has a price value and you need to know what it is, don't overpay. I personally think that a BMW on a salvage title would not be a good buy.

John

[WoodButcher]

Salvage title info:

http://www.dmv.org/tx-texas/salvaged-vehicles.php

ftp.txdmv.gov/pub/txdot-info/vtr/salnrmv.pdf (go to section 2 on sales)

Basically it is fine to buy and sell vehicles with salvage titles. You just have to make sure the buyer is aware it is a salvage title otherwise it is fraud. (saw that on one of the links I found).

If the bike is in good shape, I'd go for it.

[ed29]

Thanks Rusty. Good info in there. Chapter 5 of the PDF from the link contains the restrictions on returning salvage titled vehicles to rebuilt status and is worth a close read.

[trainman]

I read the DMV report and now have a general overview of salvage titles, not much different from when I worked in the auto industry. There we treated them like the plague, market value was 50% lower then vehicles with a clear blue title. Biggest problem with salvage title is selling the vehicle, not buying it. It's like most things today, pay for it now or pay for it later. I looked up Kelly Motorcycle Blue Book and the 06 BMW 1200GS is valved at $7000 trade in value and $10,000 retail through a dealer, that puts private sale around $8500, not worth the $7500 asking price with a salvage title, I just don't want to see someone get burned later on.
John

[frijole_tex]

So does the bike have current plates / tags / inspection? If currentlty street legal, the previous owner likely already handled the transfer of the salvage insurance company owned bike to the individual owned salvage title as far as Texas DMV is concerned and you are good to go and just need a title transfer / sales tax. Salvage title bikes can be road worthy, but the title will always have a salvage notation on it.

If not, you will need to get the signed sale and transfer documents from the insurance company, get the bike insured, and then fill out a "rebuild list" for DMV, then have the bike inspected with a "green" sheet, then file with your local tax office. Generally pretty easy in most cases, but lots of time and a hassle thus lower sale price. If any fraud or theft events come up on the salvage title, there will be problems.

As noted above, salvage titles usually impact resale value in a negative manner. So make your offer accordingly.