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Buy the bike back, or let it go?

  • Keep the bike and fix it.

    Votes: 9 69.2%
  • Find another.

    Votes: 4 30.8%

  • Total voters
    13
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Discussion Starter #1 (Edited)
If your bike is "totalled" for cosmetic damage, do you keep it?

I might be in this situation soon since I decided to go the insurance route with my little incident in July.
It's all bolt on cosmetic damage but all that stuff adds up especially the plastic parts.

Just curious if anyone has gone through the buying back a bike thing after an incident.
 

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It happened to me once when a street legal 250 enduro was stolen then abused and rattle can painted black with some dents on the tank. It was my only transportation in Hawaii. A couple of weeks went by and they found it dumped on the side of the road. Insurance totaled it and I was given the option of buying it back. I did. I was able to strip the black paint and make it rideable again with the dents in the tank. I later sold it for almost as much as it was worth before it was stolen.

Here's the thing though. These days the bike is considered salvage or rebuilt on the title instead of 'clean' so that affects the value when you go to sell it.

I guess it depends on what price they want for the bike and if you're willing to spend the money to make it pretty again or if you want to buy another similar bike of the same make and model then use the stolen bike as a parts bike.
 

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Discussion Starter #3
Not stolen in my case I just ended up in a ditch. Really feel dumb for that but stuff happens. My first newbie incident in 7 years of riding.

Rode 600 miles after that since I was out of state, rode last night too. Rocks and trees are not kind to plastic but mechanically all is well.
 

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If it was me, I'd probably try to fond another bike. Way too many different bikes out there not to give 'em a try!
 

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Not stolen in my case I just ended up in a ditch. Really feel dumb for that but stuff happens. My first newbie incident in 7 years of riding.

Rode 600 miles after that since I was out of state, rode last night too. Rocks and trees are not kind to plastic but mechanically all is well.
Right. I knew that. I was just relating my personal experience. Do you have pics of the damage and the bike as a whole?

Might be a good time to move on from Victory and try something else like Broggy said. I hear the Rocket III is awesome....:grin
 

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Discussion Starter #6
Haha well I have a bunch of Victory parts that I haven't even put on the bike yet... :(

Pretty well planned this as a long term bike when I picked it up last May.

I wasn't going to fool with insurance at all until I got it cleaned up and saw that I have enough scratches and scrapes to fool with it. Plus replacing the helmet that I got to use for a whole 6 weeks. Lol
 

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Discussion Starter #7 (Edited)
I will admit I've been browsing other CCT and even regular CC. It's also what prompted my poking around the Indian website. Playing "what if" as I wait for insurance to look at my bike and decide what they gonna do.

There is a very low priced CCT in boardwalk blue pretty close by. "Owner passed" on the ad so might be some title issues there though.

I really doubt they will total it. I just know it's possible. If I get a decent check for fixing it up that's fine with me.

This is what I sent them, which is what prompted them finally sending me a damn person instead of using an app...

Left lower outer cracked with grinding on bottom
5438927-520 FAIRING-OUTER,LH,S RED $484.99
Left side highway bar with grinding and lot of scratches
1018056-156 WELD-HWY BAR,LHS,CHR $379.99
Right side highway bar with scratches from landing in ditch
1018057-156 WELD-HWY BAR,RHS,CHR $379.99
Right side hard lower outer with deep gouge into plastic
5438928-520 FAIRING-OUTER,RH,S RED $484.99
Chrome headlight surround with scratches connected to fairing
5437555-156 BEZEL-HEADLIGHT,CHR $174.99
Front fairing outer with several deep gouges into plastic from trees
5439275-520 FAIRING-FRONT,S RED $884.99
Left side front aluminum panel scrape marks on bottom
5140405-521 FAIRING-CHIN,LH,MACH,WBLK $277.99
Left side floorboard support grinding in line with other left side damages
5135045 SUPPORT-FLOORBOARD,MACH $164.99
Left exhaust heat shield heavily dented and scraping
1261982 WELD-SHIELD,TRANSITION,LH $174.99
Left rear saddlebag bracket with scrape marks
1018779 WELD-BUMPER,SDLBAG,LH $404.99
Fuel tank dented into side from right side hard lower impact
1016149-520 WELD-TANK,FUEL,SUNSET RED $2,074.99

Plus madstad windshield and brackets, plus my messed up (bottom scrapes) tri ovals.

Honestly most that isn't that bad and is mostly hidden like the tri ovals but if I'm doing a claim might as well throw it all in. I don't realistically expect them to pay that and I'd be shocked if they did. I just wanted an in person appointment not some remote crap. :)
 

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If you would buy back your own salvage bike, completely part it out, even tje frame you can make serious money ....

Andre using TaPaTaLk
 

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Discussion Starter #9
If you would buy back your own salvage bike, completely part it out, even tje frame you can make serious money ....

Andre using TaPaTaLk
Yes that has been a thought but that is also work.

If I do buy it back the frame and anything with the VIN number is forever labeled salvage or rebuilt I'm not even sure how that whole process works.

I'm okay with buying back if there isn't a lot of bull going along with it and I have enough cash left to fix up the cosmetic damage. I just don't know anything about that process.
 

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Oh; so you don't know what they will pay or even if the bike is considered totaled yet?

I'm not that familiar with the salvage process either. If they pay, say, $4k to fix it then it's not totaled and should not affect the title. At least in my mind. It might depend on the state and what their rules/laws are too. You don't have the bike or the year listed but let's say it's a 2012; it may not be worth more than $8k before it was wrecked. Again that depends on the state. Someone said they are getting higher prices for them in the deep south which is contrary to popular opinion usually. The deep south is usually where the good deals are found. Of course supply and demand plays a part as well as asking price vs selling price.

Then there's the issue of your insurance going up for a few years.
 

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Discussion Starter #11
Most states set the totaled threshold at 75-80% of the fair market value of vehicle the second before the incident.
How they determine fair market value is often a mystery but it's supposed to be based off what similar year/mileage models are actually selling for.

They can low-ball the fair market value and total it out but I can raise that value if I can produce proof of sales with higher numbers. Or they low-ball the estimate to fix it and it's not totalled in that case either.

I won't know if it's totalled until they finally look at it. Next week I think. I'm trying to get appointment I have to be off work to meet them at home...
 

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If my XC was totalled for cosmetic reasons I'd keep it and fix it up for a couple of reasons. Its one of the best bikes in the world ;) and I have no intention of getting rid of it anytime soon(even though I have had my "moments").Second, I'm under no illusions that by the time I'm done with this bike it'll be worth anything, anyway....It'll be done rid to death :devil
 

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Discussion Starter #13
If my XC was totalled for cosmetic reasons I'd keep it and fix it up for a couple of reasons. Its one of the best bikes in the world ;) and I have no intention of getting rid of it anytime soon(even though I have had my "moments").Second, I'm under no illusions that by the time I'm done with this bike it'll be worth anything, anyway....It'll be done rid to death :devil
Right that was my thought last year when I decided to go with a Victory. Ride it until it's dead. Which when I ride less than many on here it will never die. Haha.
 

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I might be in this situation soon since I decided to go the insurance route with my little incident in July.
It's all bolt on cosmetic damage but all that stuff adds up especially the plastic parts.

Just curious if anyone has gone through the buying back a bike thing after an incident.
I would look for another bike, but make a deal with INS to buy the bike back and part it out...and most likely have some parts my new CC would need 8) I have bought wrecked bikes and parted them out, always made a lil bit of extra cash $$$ and in a couple of cases made some new friends....so was all good!

Ride Safe,

Rob
 

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Discussion Starter #15
Well I got a call that they are running the numbers for a cash value on my bike. Problem is I don't know what estimate they came up with before running numbers... Dude conveniently called me right when he was leaving for the day and I'm in my office with no cell signal. I'll find out more tomorrow.

So I might have to decide quickly on total versus keeping...
 

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Discussion Starter #16
I found out my bike is NOT totalled so I can put all the unicorn parts back on that I pulled off before submitting to insurance.
I'm really happy that I'm getting full replacement part money because as the estimator said body shops suck at matching paint. Haha.

I'm very close to the threshold for totalling the bike.
I just hope that the parts are actually available from Polaris as they should be...
 

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My Ins is totaling my 99 V92c for cosmetics. I will decide on buying it back when they tell me the salvage price.
 

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Labor for replacing those parts will really add up. I found a like 12 Vision that had "a little tip over" with cosmetic damage. Just from the parts I can see it would be close to 8k worth of parts for the fairing, bags turn signals etc. Bike dont even look bad. But you have to figure the inner part of fairing is broke if the outer is on a Vision. Glad things worked out for ya.
 

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Discussion Starter #19

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Take the money and run, buy a different brand. Trying to sell any motorcycle is hard today unless you just damn near give it away. I have a friend in Pennsylvania that sold his 3 Victory's last summer. He said got raped, but he couldn't get ride of them.
 
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