Automotive Blog

If you read Part 1 and Part 2 of this epic journey about getting a salvaged bike back on the road, you know it started when repair costs to my old '84 Honda Magna VF700 became cost prohibitive. So I decided to take the money I had and get a motorcycle that was significantly younger. To do that at a price I could afford (and without taking on another loan), I had to get creative. So I bought a 2002 Honda Magna VF750 that had a rebuilt salvage title from the State of Texas. And then the second thoughts began to creep in.

What is a Salvage Title?

Each state has a different take on this, but it boils down to the following. If a bike sustained damage that exceeds 75% of its retail value, it is "totaled" by the insurance company. A private buyer may then buy the bike and fix it, but the motorcycle will have the term "salvage" (or in some states "rebuilt salvage") on the title for the rest of its life. Some insurance companies call this a "dirty title".

There are many cons to having a dirty title. For example, the state of New York (NYS) will not just accept a Rebuilt Salvage Title from Texas. The bike has to be inspected by a special anti-theft division of the NYS DMV before it can be registered. I heard horror stories about people spending 4-6 months trying to get such matters resolved, so the route I took was a calculated risk.

Buying a rebuilt salvage bike can also be costly. In NYS, the salvage inspection runs about $200. Also, once a vehicle is salvaged, it cannot have comprehensive coverage added (at least with most insurance companies), so be careful. If you spend big money on a salvaged bike and crash it at no one else's fault, you're out of luck. (Thanks to my sister, a State Farm employee, for filling me in on some of these finer points.)

CR4's Automotive Forum Mobilizes!

As I wrote in my last blog, I realized that all I needed to do to get feedback and suggestions was to post a question on CR4's Automotive Forum. There were all sorts of responses, but most were encouraging and informative. Once I provided some pictures and some specs about the bike, CR4ers described what to look for, such as braking during the test drive at over 30 MPH (to feel for a pull in the steering, which would indicate bent forks). Another poster even priced out the added value items from upgrades such as a Corbin Gunfighter seat and Saddlemen saddle bags, so I could get a better idea of the bike's total value. This information was particularly helpful since Kelley's Blue Book put the base model at $4455 (assuming a clean title - which it doesn't have) and 31,000 miles (28,000 miles more than it does have).

I also heard both horror and success stories about people's experiences and what the process was like in different states. Some suggested that I "drop it like a hot potato" while another pointed out that I should just do "everything needed to make sure it has not been stolen; other than that GO FOR IT!!!!" After reading a copious amount of advice, I felt much more prepared to speak with the seller and ask questions from an informed position. Posters asked that I keep them updated, so I decided to dedicate a series of blog entries to this purpose.

Lesson #2: I also e-mailed another buyer who bought a salvaged bike from this seller and asked him about his experience. He reported that everything worked out for him and he was pleased with the transaction.

Finally, I called the seller and we had a chat. Remembering the advice from CR4ers, I asked questions and relied on my instincts to see if I was dealing with a genuine person or "Joey Usedcardealer". The seller in question fixes salvage bikes as a hobby and was able to answer all of my questions without hesitation. He legitimately sounded sincere. With a pickup scheduled and questions answered, it was now time to go get the bike and see it in person for the first time.

Related Readings:

Part 1 - The Salvaged Motorcycle Odyssey
Part 2 - Good Economics or a Midlife Crisis?
Part 4 - On the Road
Part 5 - Show Me the Money
Part 6 - Series in Review
Part 7 - The Anti-Theft and Salvage Inspect Unit
Part 8 - The Final Odyssey