Welcome to Netrider ... Connecting Riders!

Interested in talking motorbikes with a terrific community of riders?
Signup (it's quick and free) to join the discussions and access the full suite of tools and information that Netrider has to offer.

Repairable write-offs?

Discussion in 'Bike Reviews, Questions and Suggestions' started by livingstonest, Jan 4, 2009.

  1. Been looking at a bike where the owner says he dropped it and claimed through insurance to get it repaired. However the repair was never done and he kept the money. From what i saw it was only some minor fairing damage.

    Would like to know what the deal is with repairable writeoffs?
    1. Does the seller's story sound right? Or do insurance companys only mark it as a repairable writeoff if there is alot more damage?
    2. Does this void any current warranty on the bike?
    3. Is it harder to insure these bikes?
    4. If its only fairing damage this will lower the bike's value/resale but because its now marked under REVS as repairable writeoff does that mean that value/resale is pushed down further?
    5. Other than private sellers is there a place to go to buy these repairable writeoffs off of insurance companys?

    Any help is greatly appreciated. Cheers!
  2. I don't have direct experience with this, but have spent a bit of time looking into it. Others will have more to contribute, but your thread was looking a bit lonely and plaintive so I took pity on it. ;)

    Has this one been actually notified as a repairable write-off? There are two classes, repairable write-offs, which can be registered again, and statutory write-offs where the frame has been damaged and they can never be registered again. Obviously you want to avoid the latter.

    There are advantages if it's never been registered as written off at all, in terms of later resale value, but you'd want to get it inspected to ensure that there is not frame damage.

    Not sure about warranty implications.

    Gah, should have read right through instead of answering question-by-question: if it's registered as a repairable write-off with REVS that answers my questions above.

    Don't think they're harder to insure if they've been repaired and re-registered. They need to be inspected for registration, something like $300. You need to think about whether you're getting it enough cheaper to justify that, plus the cost of repairs, plus lower resale value.

    And yeah, there are auction houses like Mannheim Fowles (from memory) and others that sell repairable write-offs.

    It's really an option for when you don't need transport immediately, IMO, and can afford to source parts from whenever, wherever in order to get them cheap. You may well also be up for a paintjob if you end up with different coloured bits of fairing...

    All the best with it.
  3. If he has the bike it is not a repairable write-off, unless he opted to buy it back off the insurance company.

    Usually insurance companies will repair up to a % of teh bike's value, go past it and they will declare it a write-off.
    I would say the warranty would be void on a write-off.
    Yes, you will have to demonstrate that the bike has been reparied to the required standards.
    Repairable write-offs are less valuable this is why many of them become track bikes or go to wreckers.
    Private sellers selling 'reparable write-offs' are most likely to be theives selling stolen bikes to the gullible. Go to an auction house such as Manheim Fowles or Pickles.
  4. 1) A repairable write-off voids warranty.

    2) In your post the guy told you the insurance company gave him money to repair the bike but he never did. Insruance companies only pay out write-offs, they will not pay a person for repairs.

    Based on (2), I'd say the guy has bought the bike as a repairable write-off from an auctionm done the minimum to get it registered and is trying to flog it off for a lot more than what he paid.

    Nothing wrong with that so long as you are getting a REALLY good deal. I wouldn't touch a scratched up bike unless the price was to good to walk away from.
  5. You mean that if they make it a write-off they will take the bike off you and pay you for the bike?

    So this seller's crapping on that they gave him money to repair it?
  6. An insurer will only pay the invoice to a approved service location.

    They don't give you cash to get it fixed.

    If they determine that it's a write-off then the will give you the insured amount and the insurer will take possession of the bike.

    Kind of like they have just bought it off you.

    I also believe that you get an official bit of paperwork from the insurer stating that the bike is a repairable write-off, though I am not 100% on that.

    Edit: because I buggered up the first time.
  7. Mr Ignorist and Geeth are right. The insurance company won't just give you 2k to fix the bike, they'll pay an invoice to a authorised repairer (unless another agreement has been entered into) and they'll do the repairs on his behalf.

    Sounds like he's bought the bike as a repairable right off and fixed it himself.
  8. I wouldn't trust a write-off repairable or not for anything more then a farm machine. But thats me.

    And for insurance, from what I remember most insurers will ask if it's been written-off and I think you will find insurance harder to get if not more expensive because of the risk to the insurer.
  9. That's very clear. Thanks very much for that. This is completely opposite to what the seller told me.
  10. I third or fourth what the others have said.

    If your bike is classed as a "write-off" by the insurance companies, they will take ownership of the bike and sell it at auction after giving you your payout.

    1) Sellers story is wrong

    2) Voids Warranty

    3) Dunno, mines not insured :)

    4) Yes, resale value is pushed down...can be 1K less if a common bike. By law you need to also advise the potential buyer that it was a repairable write-off.

    5) You can buy repairable write-offs at public auctions for both cars and motorbikes.

    A friend and I both brought bikes at an auction as repairable write-offs. I paid more for mine because it was still in good condition (other than being rear ended). My friend got a Firestorm for $500 which had been dropped on it's side and lost farings etc.

    Both bikes went to the frame straightener (which all bikes should be taken after an accident) farings replaced and repaired. To get them back on the road (in QLD) they needed their safety certificates, then another inspection by a company contracted out to inspect repairable write-offs, in this case Fowles....the same place I brought it from. It wasn't cheap, and a pain in the butt as you need to put the bikes on trailers to take them to this workshop and that. But, after 3 years, there is nothing wrong with either bike.

    Unless there was something I really wanted, I wouldn't do it again :)
  11. Mines a K7 gsxr 750 with 3500km on odo selling for $9.5k

    Gonna get my mechanic to check it out.

    If its only fairing damage i think i'd be happy with that price. I'll intend to keep it for a long time so resale is not gonna be great by the time i'm done anyway.

    That price sound ok?
  12. Price sounds pretty good, since straight K7s are going for 12.5-13.5k or so. And given that you plan to keep it long and aren't so worried about resale, that's less of an issue. So even if you spend a grand in total getting it on the road (and you'd need to budget something like that even if you don't use all of it), you'd still be ahead.

    Have you done a REVS check on it? Highly recommended - given that the seller is fibbing, or at least over-simplifying, on the life story, you want to make sure it's not stolen, that there's not finance owing on it, that it's not a statutory write-off and so on.

    And the mechanic's check is a great idea and is essential.
  13. Ok cool. Thanks for your input. Helps alot since i was umming and ahhing bout the implications of writeoffs.

    If its only the fairing damage then it doesn't need any further work. Its got like 11 months rego on it. And yes REVS checked it and there's no finance on it and its not stolen and not statutory write off.
  14. Well, the guy has bullshitted to you before - what have you got about this bloke to trust? I wouldn't buy it. Just have to think of it as a lemon and to walk away. Who knows what else is stuffed? Go back and offer him 7k.

    Also, check the other states write-off lists as well. Just because it doesn't show up on your state doesn't mean it wasn't written off elsewhere.

    However, with his story there are always exceptions that prove the rules. Some dodgey repairers will gladly pocket the money for work done and share the profit amongst themselves and the insured. It's unusual, but not unheard of.
  15. mate sounds so dodgy I would not go near it with a 10foot pole.

    write-off or not.

    If you do get it, I would still take it to a frame straightener.

    Have you priced new fairings? At the end of the day, if there is only 1k in it after you have fixed the bike....why not go for one that has all it's fairings and has not been dropped?