Where Is The Used Motorcycle Market? I Can't Find It

[Dirty Frank]

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Sounds like a great plan...but with my luck I'd be that one in a million guy who survives the trip and ends up in the nursing home anyways, but completely invalid, crapping my pants, and on a feeding tube.

True that but can you imagine the look on the rescuers face when they expect to see a big splat and you sit up and moan.
I say that if the death ride is what you are looking for get out the clown shoes and ride a Z50 into oblivion....

 

[nobbie48]

Out on the road today. Looks like most everybody is back to work, except the restaurants. Also, I notice that the dealers on Kijiji are actually selling product and they aren't coming off list price much, so it doesn't look like there's going to be a sellers market at all. What you can do is look forward to bikes that are much more expensive next year as our dollar plummets into the toilet because of all the debt we're in. Be prepared to pay 15% more for everything.

The curse of the internet is free ads. If people had to pay $$ every day the toy was listed the opening price would be more reasonable. The other part is finding what the toy really sold for. Too many people: "A bike like mine is selling for $7,000 and mine's in better shape so it's worth $10,000." (And all it needs is a battery)

Stats on private sales prices are useless. With bikes you can make up a value. With cars it goes by book, not actual selling price.

People lie. The seller doesn't want to admit to friends his bike got junk money and buyers that overpaid don't want to look like pigeons.

 

[killvino]

The curse of the internet is free ads. If people had to pay $$ every day the toy was listed the opening price would be more reasonable. The other part is finding what the toy really sold for. Too many people: "A bike like mine is selling for $7,000 and mine's in better shape so it's worth $10,000." (And all it needs is a battery)

Stats on private sales prices are useless. With bikes you can make up a value. With cars it goes by book, not actual selling price.

People lie. The seller doesn't want to admit to friends his bike got junk money and buyers that overpaid don't want to look like pigeons.

Not to mention, list price does not equal sale price. just because most are listed for $5000 but the ads are up for a reason. Probably people are only willing to spend 4-4500 for it.

 

[mimico_polak]

List price doesn't matter. I offer what I believe is a fair price (to me particularly) and then go from there. If I want an item bad enough, I'll play ball. If not then that's no problem.

Bikes are no different. This is the time of year where they typically shoot up in price, but I've seen some movement. Although this year I've seen the same bikes stick around for way longer than normal.

 

[nobbie48]

List price doesn't matter. I offer what I believe is a fair price (to me particularly) and then go from there. If I want an item bad enough, I'll play ball. If not then that's no problem.

Bikes are no different. This is the time of year where they typically shoot up in price, but I've seen some movement. Although this year I've seen the same bikes stick around for way longer than normal.

For stable prices one needs a stable economy. CV-19 has nixed that. There are an infinite number of "What if's".

While some "Ifs" are obvious others will come about as the dominoes fall. Some people are in good shape to take advantage of opportunities but others that were iffy to start with will be drawn and quartered.

What would you take for a toy for if you were going to lose the house and MAYBE you were going to be called back to work?

 

[mimico_polak]

What would you take for a toy for if you were going to lose the house and MAYBE you were going to be called back to work?

Seeing the market and what's happening...anything as close to what I owe on it as possible to minimize being upside down.

 

[nobbie48]

Seeing the market and what's happening...anything as close to what I owe on it as possible to minimize being upside down.

A few decades back with interest rates in double digits the family debt might include a mortgage, car loan and toy loan. If was $250,000 for the car and house with the boat adding $70,000 to the monthly payments. The boat could have been worth $100,000 but no one was buying. On top of the boat loan was marina and insurance costs. A lot of boats stayed out of the water.

Selling the boat at a loss say $35,000 reduces monthly payments and eliminates marina costs. Instead of debt of $320,000 it becomes $285,000 and no marina fees of $3,000 to $5,000. It sucks but the bank would prefer to take the house.

Toys should be paid for in cash or at minimum 50% down. Hopefully in a jam you'll have something out of a fire sale.

 

[Katatonic]

Toys should be paid for in cash or at minimum 50% down. Hopefully in a jam you'll have something out of a fire sale.

Toys should always be paid for with cash. If you’ve got to finance a toy, how are you going to afford the maintenance, insurance and gear??

 

[Evoex]

not necessarily. by financing and keeping the cash you can see a nice return on it, assuming it's applied properly. interest rate would be fairly key though.

 

[mimico_polak]

Toys should be paid for in cash or at minimum 50% down. Hopefully in a jam you'll have something out of a fire sale.

Cheap credit is too easy to come by nowadays. I’ve got a few friends that are financing the last 3-4 cars on their current one because of negative equity being put forward.

mine buddy told me he paid off his 30k car in 2 months! I was impressed and asked how he did it....rolled it into the equity in the house! WTF! Aren’t you paying it over 25 years then?

response....it’s all good. Only 3%!

 

[mimico_polak]

not necessarily. by financing and keeping the cash you can see a nice return on it, assuming it's applied properly. interest rate would be fairly key though.

If you have that discipline....which most people don’t.
Similar to the rent v buy debate....sure you might come out ahead renting....but you actually have to invest the difference. Not blow it on hookers and blow.

 

[Evoex]

If you have that discipline....which most people don’t.
Similar to the rent v buy debate....sure you might come out ahead renting....but you actually have to invest the difference. Not blow it on hookers and blow.

exactamundo!

 

[nobbie48]

Toys should always be paid for with cash. If you’ve got to finance a toy, how are you going to afford the maintenance, insurance and gear??

I was thinking of a market crash / recession or Covid fire sale. Yeah a $10K new bike with taxes, gear and insurance could easily be $14K. If the bike has to be sold six months later for $7K it's a loss of $7K. Heaven forbid a scratch on it. Maybe a bit back on the insurance. At 50% down hopefully they don't have to pay to get rid of it.

It remains to be seen what toys will be selling for in the next year especially with travel and restaurant industry workers. Also landlords may be seeing lower rent incomes. People caught in real estate deals could go from rags to riches or the other way round depending on whether they bought then sold or sold then bought.

How long before JT has to stop the bailouts?

 

[Katatonic]

not necessarily. by financing and keeping the cash you can see a nice return on it, assuming it's applied properly. interest rate would be fairly key though.

Sorry, but I’ve got to disagree with you on that. If you’re spending $10-15g’s on a toy, financing is a big mistake. Even worse if you are financing something that costs less.
It’s not a matter of ‘but they’ll loan me the money’ but what is best in the long term.
I used to have a guy that rented my basement apartment from me and he would finance everything. Then if work slowed down he’d sell at a loss and simply add the loss to his line of credit, rinse repeat. Last I heard he was $50k in debt, no bike, no car, no house and riding the bus to work.

 

[Evoex]

Sorry, but I’ve got to disagree with you on that. If you’re spending $10-15g’s on a toy, financing is a big mistake. Even worse if you are financing something that costs less.
It’s not a matter of ‘but they’ll loan me the money’ but what is best in the long term.
I used to have a guy that rented my basement apartment from me and he would finance everything. Then if work slowed down he’d sell at a loss and simply add the loss to his line of credit, rinse repeat. Last I heard he was $50k in debt, no bike, no car, no house and riding the bus to work.

not at all, if the money is next to instantly available to pay it off so what's the issue? if you get 0% loan then imo you'd be pretty silly not to take it if you had the liquidity on hand.

well yeah, if you roll negative equity into a new loan you`re on the path to sink yourself. if you get bored of a toy then just pay out the difference if you`re upside down and move on.

 

[ScorpionT16]

There is a buying market, I just sold the CBX, in the last 3 days got lots of interest. As the weather gets better and SO open, people are itching to ride it seems . I also know a guy at work who used to be our lead painter, he is also a mechanic and since being laid off, is now working at a shop. he said he's never been so busy, so many people bringing their cars in to get tuned, turbos, new wheels, fender eliminators etc... He said most are people just there to blow their CERB money and laughing it away, like him, alot make cash on the side for work and the CERB is just free money.

I do not know how the economy will play out, and truth is no one here does, from age groups to lifestyle choices, too many variables. Too many factors at play, heck 2 months ago life was all dandy, and now everyones taking it day by day,

As for the financing part, I'm not wealthy by any means, and will get a new toy, and looking at financing it, will pay half off and keep the rest aside. Yamaha gave a 1.95% rate, over 2 years the cost of borrowing is $50 for me. admittedly, I would not know, and do not know how to make interest on the remaining funds more than 2% over 24 months.

 

[johnsazzr]

I was thinking of a market crash / recession or Covid fire sale. Yeah a $10K new bike with taxes, gear and insurance could easily be $14K. If the bike has to be sold six months later for $7K it's a loss of $7K. Heaven forbid a scratch on it. Maybe a bit back on the insurance. At 50% down hopefully they don't have to pay to get rid of it.

It remains to be seen what toys will be selling for in the next year especially with travel and restaurant industry workers. Also landlords may be seeing lower rent incomes. People caught in real estate deals could go from rags to riches or the other way round depending on whether they bought then sold or sold then bought.

How long before JT has to stop the bailouts?

He has just begun..we are only 9 weeks in. I said it before ....over a dozen sectors will be looking for multi billion bailouts...they just stated our federal debt is going to be one Trillion by year end. It will be 1.5 Trillion in 12 months. 2021 is going to make 08/09 look like a sale at Walmart.

 

[ScorpionT16]

He has just begun..we are only 9 weeks in. I said it before ....over a dozen sectors will be looking for multi billion bailouts...they just stated our federal debt is going to be one Trillion by year end. It will be 1.5 Trillion in 12 months. 2021 is going to make 08/09 look like a sale at Walmart.

We are all very fortunate, whats going on now is nothing like events and recessions from before, even 08/09.

 

[johnsazzr]

We are all very fortunate, whats going on now is nothing like events and recessions from before, even 08/09.

Dude is clueless and thinking short term...all Govts are doing is printing Trillions of $$....Just for a few months of relief...lets see what he posts in 6-10 months as 30% of small business go bankrupt and Major Sectors file for Creditor Protection late 2020 early 2021...see Air Canada this AM...will cost us 5-10 Billion in loans/handouts just to keep them open . Total corporate tax$$$ will be easily another 500 Billion in the next 12 months . The biggest irony is that we do not know when this mess will end. As business and production resume throughout North America do you think consumer demand is going to even come close to pre-Covid consumption?...folks are scared and that is not going to change overnight . Our GDP will be crap for a while I fear

IMF outlook is a source I will stick to them for reality.

 

[ScorpionT16]

Dude is clueless and thinking short term...all Govts are doing is printing Trillions of $$....Just for a few months of relief...lets see what he posts in 6-10 months as 30% of small business go bankrupt and Major Sectors file for Creditor Protection late 2020 early 2021...see Air Canada this AM...will cost us 5-10 Billion in loans/handouts just to keep them open . Total corporate tax$$$ will be easily another 500 Billion in the next 12 months . The biggest irony is that we do not know when this mess will end. As business and production resume throughout North America do you think consumer demand is going to even come close to pre-Covid consumption?...folks are scared and that is not going to change overnight . Our GDP will be crap for a while I fear

IMF outlook is a source I will stick to them for reality.

Maybe all this talk belongs on a financial form, not a motorcycle one. You're free to read and see all the doomsday news you desire, personally I'm leaning toward the optimistic route, everything will be fine, even if it was like 08/09, everything recovered eventually and came out better than before. People can continue to dwell in fear, fear of the future, finances, the world, their health, uncertainty etc... the only constant is change, the one blessing in this whole mess is, no one from the experts to the kindergarten kids can predict what is going to happen, and that's life.

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