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 Resale value?

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skiwoods
trouble1100
redeye
honda_silver
compguy
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compguy
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compguy

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PostSubject: Resale value?   Resale value? I_icon_minitimeTue Oct 19, 2010 9:19 am

I have a friend who has been riding with me while I was still on my Reflex and we both ride ALOT. He has a 08 that has 48,000 miles on it and wants to trade it in for a 2010 but all they will give him is $2500. The scooter has been well taken care of and my question is does the milage really hurt us that much. I have only had my Swing for 5 days now and already over 500 miles, we exspect to get over 100,000 on them and the dealership also says we should.

Ideas?

Keith
Iowa
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honda_silver
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PostSubject: Re: Resale value?   Resale value? I_icon_minitimeTue Oct 19, 2010 9:52 am

compguy wrote:
I He has a 08 that has 48,000 miles on it and wants to trade it in for a 2010 but all they will give him is $2500. The scooter has been well taken care of and my question is does the milage really hurt us that much.

There was not input for mileage ... so your dealer is being subjective.

http://www.nadaguides.com/default.aspx?LI=1-23-38-5697-0-0-0&l=1&w=23&p=38&f=5698&m=1124&d=1200022689&y=2008&ml=H&gc=MC&gtc=MC

Low Retail Average Retail
Low Retail: $4,255
Average Retail: $5,600

http://www.kbb.com/motorcycle/trade-in/2008/honda/fsc600a-silver-wing-abs/231536

Trade-In Value (Good Condition) $4090

http://www.kbb.com/motorcycle/retail/2008/honda/fsc600a-silver-wing-abs/231536

Suggested Retail Value $5940


How much is the dealer asking for a new 2010 Silverwing?? There are some dealers picking up new Silverwing at auction and selling for around $7000.
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redeye
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PostSubject: Resale   Resale value? I_icon_minitimeTue Oct 19, 2010 10:54 am

Before purchasing my 2002 Silver Wing in September, I searched dealers, motorcycle/scooter advertisements, eBay, Craigslist, etc. for months evaluating various models. 48,000 miles is much higher than anything I saw in a dealership unless it was rare, collectible, etc. This appears similar to new car dealers that really don't want anything on the lot less than three years old or with over 36,000 miles.

Sure, they'll take it to sell a new vehicle, but most likely its destination is to a second- or third-tier dealer or to an auction for sale with no guarantee of how much it will bring. I suspect the difference between the price of most new scooters and their used counterparts (contrasted with auto and trucks) is such that buyers are able to find a price to their liking at potentially less than a quarter of the mileage. 48,000 miles was up there for private sales, too; a few had higher mileage, but a lot more had less. However, the cycles/scooters with high miles seemed to be there, month after month, with some movement but not a lot.

Perhaps a healthier economy and higher fuel prices might increase the resale value of a scooter with 48,000 miles, but demand, although reasonably strong in some places, is incredibly weak in too many others. Although I have no intention of selling my 2008 Morphous with 31,000+ miles, this would have been a situation of the Morphous being "worth more to me than anyone else." It's in great condition, well maintained, but the mileage number is what it is.
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trouble1100
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PostSubject: Re: Resale value?   Resale value? I_icon_minitimeTue Oct 19, 2010 11:30 am

Here’s a site to get a feel on retail prices from around the country.

There are a few quirks on the site …….

You will find e-bay listings that are at the bid price when the add was found and posted on the site.

Honda has a habit of recycling names, you will find a few Reflex listings that are street / trail bikes with the designation “TLR 200” from the mid 80”s.
Also the Siverwing name was resurrected from the early 80’s that was the “GL 500” & “GL 650” touring bike.

http://www.scooterfinds.com/
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PostSubject: Re: Resale value?   Resale value? I_icon_minitimeTue Oct 19, 2010 12:32 pm

Great site for info.

Hmmm...there's an 02 listed for $3600 sans mileage info... I bet it sports a pretty high number, otherwise he'd be advertising it.

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skiwoods
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PostSubject: Re: Resale value?   Resale value? I_icon_minitimeTue Oct 19, 2010 3:35 pm

imho, $2500 is a fair trade-in value for an '08 with 48000 miles. Your trade in value is a wholesale number. Whoever retails this SW, will probably do a safety check, and whatever else it might need; tires, belt, fluids, paint touch up, etc. Then they have to make a profit. So, let's say they invest a $200-$300 prepping it for sale and avdertising. It will probably have to be sold for close to $4000 for it to be worthwhile. I've seen plenty of Silver Wings with less miles for less than $4000. If you feel they are not giving you enough, try selling it on your own. My guess is that the phone won't be ringing off the hook unless it's priced right.

Look at it this way. Your friend's bike deprediated about 10 cents per mile. Cheap fun, the way I see it. If he doesn't see it that way, keep it, and put another 48000 miles on it.
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john grinsel
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PostSubject: Resale   Resale value? I_icon_minitimeTue Oct 19, 2010 6:44 pm

I trade often and in the past rode a lot, top year 60,000----stroke aug 09 screwed that up----but back to 2-3000 miles a month.

Trade in...dealers don't like high mileage---thus low value. Hondas will go a long time, but sometimes not cheaply.

$2500 may be a little low----but to the guy that buys it and will be lucky to do 2,000 a year, it seems like a lot. Shop other dealers.


I was offered $4,000 on my 09 the other day on first try----that is wholesale---nothing wrong with bike, new tires-----the stuff I have added to make it rideable comes off as accessories add little to trade value. Past experience, more than 30,000 miles, dealers don't want. Means some years I got 2 new bikes.


After over 75 new bikes, I realize there are limits to what a worn bike is worth and I accept that....maybe not cheap hobby or transportation. But I am not stopping. Going looking the AM again. I usually buy simple, cheap, new----$8000 SilverWing is a little extreme.

John Grinsel
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PostSubject: Re: Resale value?   Resale value? I_icon_minitimeWed Oct 20, 2010 12:56 pm

Local dealer here is listing a '02 SWing with 54,300 miles at $3500.
Here is NE TN.
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exavid
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PostSubject: Re: Resale value?   Resale value? I_icon_minitimeThu Oct 21, 2010 1:24 am

One thing I've never worried about is resale values of my bikes. I never buy them new, always let someone else take the initial depreciation. I don't worry about the mileage, it's the cosmetics that make the difference for me. Very few SWs or Goldwings have mechanical problems unless really abused and those bikes will show the abuse and neglect in their paint and plastics. If it looks great it will probably run great, it's a Honda after all. Since I don't pay that initial big bucks the resale later on isn't a big deal. All in all I believe I get a lot more miles for the dollar operating this way. If you can't do your own work due to lack of tools or experience in mechanical maintenance and repair maybe that isn't the best for you but for me since I never take a bike to a shop for work or maintenance it pays off quite well.
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Peach
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PostSubject: Re: Resale value?   Resale value? I_icon_minitimeThu Oct 21, 2010 6:39 am

exavid wrote:
those bikes will show the abuse and neglect in their paint and plastics. If it looks great it will probably run great, it's a Honda after all. Since I don't pay that initial big bucks the resale later on isn't a big deal.

I have been trying to sell my scoot for a while. Mechanically, it's in perfect condition. However, there is a wee bit of body damage where it slid coming out of the driveway. I've been honest about the mileage and the damage.. always taking closeup pictures of it. Would something like that deter you from buying it? I touched it up and it does look better, but I'm wondering if you think it's still scaring a buyer off?
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Waspie
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PostSubject: Re: Resale value?   Resale value? I_icon_minitimeThu Oct 21, 2010 6:51 am

I never worry about the resale value, why? I do buy new as a rule and keep the machines until I either see something better or I exchange it if I see a big financial outlay looming. Rolling Eyes

As a rule I have achieved some good deals from traders when part exchanging. When I bought my SW the trade in, (£), I received for the Burgman was well above what I was expecting, that offset the cost of the heated grips!!!

I have found having a full service history from a dealer helps, as does the overall condition of the machine. Even if there are scratches, a well presented bike will sell to someone who wants it.
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skiwoods
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PostSubject: Re: Resale value?   Resale value? I_icon_minitimeThu Oct 21, 2010 9:20 pm

I'm not worrying about resale value on my Silver Wing. It was my first motor bike, and I doubt I will ever sell it. I do think in a few years I will buy a Gold Wing, but it will not be replacing my Siver Wing. I bought my '02 for $3900 3 seasons ago. It had 4000 miles then, and I turned 17000 about 2 weeks ago.
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PostSubject: Re: Resale value?   Resale value? I_icon_minitimeFri Oct 22, 2010 6:30 am

17000 is nothing ,I read on another site a guy had just turned 143000 yours is still new .If you have looked after it and it is not banged up .Still worth $3000.00 ,so like John said 2500 on a trade is all you will get .People think that bikes are worn out at that mileage and are afraid to buy . That is just how it is .
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exavid
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PostSubject: Re: Resale value?   Resale value? I_icon_minitimeFri Oct 22, 2010 8:33 pm

Peach wrote:
exavid wrote:
those bikes will show the abuse and neglect in their paint and plastics. If it looks great it will probably run great, it's a Honda after all. Since I don't pay that initial big bucks the resale later on isn't a big deal.

I have been trying to sell my scoot for a while. Mechanically, it's in perfect condition. However, there is a wee bit of body damage where it slid coming out of the driveway. I've been honest about the mileage and the damage.. always taking closeup pictures of it. Would something like that deter you from buying it? I touched it up and it does look better, but I'm wondering if you think it's still scaring a buyer off?

It shouldn't scare anyone off if the price is set accordingly lower than a similar bike with no damage. My SW had a pretty big scrape on the right rear quarter panel when I got it as well as some scrapes on the muffler cover. The woman who had the scoot laid it down on the road in some sand. I bought a new panel and got some touch up paint from ColoRite. It still has some marks but they're not too serious. The point is that I bought the bike even with the obvious damage though I paid about $500 less than it would have brought if it had been pristine. When I say the cosmetics are a good indication of the bike's condition I don't mean accident damage per se but more like damage from rough handling and neglect. Dirty, lots of cracked plastic, damaged glove box lids stuff like that are tip offs.
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