Recently, I decided it
was time to upgrade my motorcycle. But I didn't have the money to really do it.
Then an interesting, if risky, option presented itself: buying a bike that was
salvaged and repaired to look like it was in great condition.
The decision, at least to upgrade, was a simple one to make.
In June of 2007, I purchased a 1984 Honda Magna VF700 on EBay for $650 (USD).
It was cosmetically ugly, but mechanically sound for a 23 year old machine.
So Happy Together
During seven months of riding, I wracked up around 3,800
miles, mostly commuting to and from work down the western part of my county's
main two-lane road. I found that the bike was as promised. It was dinged and
scratched, but as long as the battery was charged, it always started and had
some pep. I couldn't keep up with my buddies with sports bikes, but their bikes
were much younger, and I am a much larger person. Still, my bike routinely ran
at a fuel efficiency of 37-42 MPG - far more than any vehicle I had ever driven
- so I was very happy. Keep in mind that I am not particularly mechanically
inclined. I can replace a headlight,
change the oil, replace a car's muffler, etc. But tuning a carburetor or
replacing breaks are little beyond my cannon - as of right now.
Breaking Down the
Costs of Breaking Down
Unfortunately, the maintenance costs of my old bike started
to mount. My shop told me that EBay was a more cost-effective way to get parts
than anything they could obtain parts with. So, I turned to EBay to buy the
following replacement parts:
- Right
Hand Controls
- Reason:
My starter switch appeared
to have burned out
- Cost:
$22.99
- Front
and Rear Tires (routine maintenance)
- Reason:
the front was scalloped and the back was bald
- Cost:
$300
- Main
Gauge Assembly, Speedo Gear, and Cable
- Reason:
Speedometer failed and tail light indicator stuck on
- Cost
of Main Gauge Assembly: $99.87
- Cost
of Speedo Gear and Cable: $23.91
- Labor Cost:?
- Steering Bearings Replacement (routine
maintenance)
- Reason: Worn out over time
- Cost: $300-$350 (estimate from shop)
- Clutch Replacement (routine
maintenance)
- Reason: Worn out over time
- Parts Cost: From EBay, about $90
- Labor Cost: CR4 Automotive Forum
readers convinced me I could DIY
Deciding It Was Time
to Break Up
It was at the italicized points (that all happened at about
the same time) when I began evaluating the cost- effectiveness of my old bike. I
purchased the bike for $650, and had already spent another $446.78 on parts and
repairs before the italicized sections above. Effectively, the repairs
totaled my bike. I thought about parting it out (selling the parts, piece by
piece), but I wanted someone to still ride it. So, I sold it and all the parts
from EBay to my sister's boyfriend as his first bike. But not before I took a
deep breath and big risk: I bought a second bike on EBay, but without as much
certainty as my first. My latest purchase was a 2002 Honda Magna VF750, but one
that had a salvaged title.
My next blog entry will focus on the process of purchasing
the salvaged bike, and some warnings and steps that I learned I had to go
through before I can even take it for a ride. This blog will run until the
first day I can legally ride the new machine to work. This, from what I
understand, might take me several months.
Read along to see how the process works and learn from what I am sure I
will do wrong!
Related Readings:
Part 2 - Good Economics or a Midlife Crisis?
Part 3 - Taking the Plunge is Not for Everyone
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
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Re: Rolling the Dice: Buying a Motorcycle with a Salvage Title (Part 1)
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