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Should I take the hit?

Discussion in 'General Motorcycling Discussion' started by Kurtis_Strange, Oct 31, 2005.

  1. As some of you have read I have decided to sell my recently bought scooter and get a larger geared bike which enable me to do the touring I had planned on from the start...

    Always the way, when you want to sell something you can't...I'm not getting alot of interest in the bike and had no calls over the weekend so I'm thinking of selling it back to the bike shop, but thay have offered me way below market value on it and I'll have to take a real financial hit.

    I'm in two minds, do I suck it up, take the hit and just sell it to get the bike I really want so I can begin my bike experience over on the right machine

    or do I hang on to it and forgoe said touring for 12 months and putt around on the scooter....i know I won't be happy doing this.

    I guess I'm just wanting to hear from people who know bikes better than I wether selling it and dropping $1,500 or so after owning it 2 months is a good idea.

    Should I just cut my losses, what do you think?
  2. Jeez, ask an easier one!! New vehicles of most sort take a large value hit as soon as you leave the lot, but $1,500 is a lot to lose.

    On the other hand you can see yourself riding round on the scoot for the next 11 months hating it and hating having to do it, so you don't really have a choice. I think heart should rule head, in this case. In sales we say "people make decisions based on emotion, then justify them on logic". Take what you can for it, because it will be worth less in 11 month's time anyway.
  3. I'd wait. It would hurt, but money is money mate.
  4. Besides, if you keep advertising it hard in the right places, you'll get calls. It's just hard to sit on your hands while you're drooling over a better bike.

    Another option is to get the new bike on a loan of some sort and pay it out when the other bike is sold, which might be less of a financial hit for you.
  5. I maxed out to buy the scooter...lol...that was gonna be it for a while as I now had transport. But I didn't plan on how I now feel about it, and I was a bit mislead on the capabilities of the scoot.

    I've got 3.5 weeks so we'll see how it play out.
  6. The real question is do you want to take the $1,500 hit, unfortunatly that is the going rate if you buy a new bike and sell within the first 6 months.
    Is your piece of mind or extra fun on the bigger bike worth $1,500 is the question you need to answer.
    As loz said, over time you will get some offers, need to advertise in the right places, scooters are in high demand with current fuel prices.
    Good Luck with what ever way you decide to go!
  7. What price are you advertising it at? You need to make people interested in it. Take a look at all your comparable competition that's in the same place you are advertising and set your price at $200 or 5% lower than your lowest competition. If you still get no bites after a 2 or 3 weeks, then there is currently no market for your scooter. If there's a market for it (ie. buyers), you'll get bites because yours is the best/lowest priced. It's often better/faster to loose a couple of hundred dollars and sell it than set it an average price and get little interest :)
  8. I agree with what others have said. Perhaps (to minimise your loss) reduce what you are willing to sell for and instead of a $1500 hit from dealer buy-back you can reduce it to $500 below market value selling privately (or whatever you are willing).

    Personally I would wait, enjoy the scooter while you have it, and if someone wants to buy it then great - if not in a year you can sell it and buy the bike you really want.

    After all you would probably take another (less significant) hit when upgrading from a 250 to a larger bore bike.
  9. Eh, id say cut your losses... its only money, better you enjoy yourself.
  10. Patience...It's a desirable pickup if you are in the market for that scooter.
  11. yeah well mine is the only one for sale privately, they are THAT new... and I'm advertising it $800 cheaper than through a dealer plus its had its first service.

    Its so new the model is not even listed on bikesales.com.au I've requested they put it on for me

    I'd drop another $500 if I had to I guess...I'm already in an arrangment on the other bike subject to selling mind within 4 weeks, I really want that bike but need to remain smart about this financially :)
  12. Is the offer you had from the dealer a trade-in, or just a buy-back?
  13. from the dealer its a buy back, and its $2k less then I paid for it 8 weeks ago so I'm not going there
  14. Just don't do something you will regret later if your financial situation doesn't allow it. I have blown so much money of the past few years on bikes/cars/boats and big boy toys it's not funny, now I am realising how stupid I was. Think with your pocket and not your heart is my advice.
  15. Have you asked what the dealer who has the bike you want will give for a trade-in?
  16. No I was thinking of that, unfortunately I have told him what the delaer up here offered me (stupid I know) and they are in VIC so it could cost me to freight it down.

    I think I'll just advertise for a while and see what happens, if its doesn't sell I will get my deposit back on the other bike, I'll just be frustrated thats all
  17. the other thing too is I freelance, and while I make good money I don't have guaranteed income...things are great right now but die down over xmas and January...I think maybe I'm getting too emotional about this and need to pull my head outta my arse...lol..

    But then I'm thinking the longer I'm riding a scooter the worse off I will be in terms of not gaining the skills I need on a geared bike.....hmmmm
  18. Whack it on ebay. Start the bidding at $1. Don't set a reserve.

    Mention in your ad that you are advertising it elsewhere and will pull the auction if it sells otherwise.

    See how close it is to your desired price with a day to go. If it's within 25% with a few bidders, chances are last minute bidding will bounce it up.

    Otherwise _pull_ the auction. That way you won't be hit with the $40 ebay fee, only the $5 insertion fee.

    You won't get as much cash as you will with the regular advertising, but you will get interest and bids.

    Make sure you have plenty of photos, and away you go.

    Ebay's a good way to get a lot of people looking. I regularly browse ebay, then check bikesales & bikepoint for the other ad, so I know the price they are looking for :)
  19. BTW, you talked to Scooteria? I did some rider training through those guys, and they seem fine. I think they sell on consignment and charge you a % when it sells.
  20. Guess where I bought the bike?