Okay, now what?

Bill_76 · #1 10-02-2009, 01:20 AM

In speaking with my insurance company yesterday, I learned my claims rep. was wrong. $7600.00 was the initial damage estimate. I spoke to the appraiser directly who told me she's calling it a total. Valued the bike at $10,725. She gave me a buyback figure of IIRC $5,000. Loan payoff would be $2,500. to $2,700. It is a 2001 Electra Glide Classic, 95 inch stage 2 with 68,500 miles.

I've talked with a couple of guys who suggested I low ball the buyback number and offer to pay the towing and storage, and then take the remaining settlement to fix it. From what I've seen, it will need new front forks, front fender, inner and outer batwing, windshield, handlebars, headlight and light bar. Have not disassembled anything to look further. Front tire still holding air and looks unscathed. I impacted a VW Jetta just in front of the right front wheel well. I have some pics on my cell phone, and it's above my pay grade to get them into a computer to post.

Pros, cons, thoughts and questions regarding keeping it versus scrapping it. I like it. I ride an average of 12,500 miles per year. Fire away...

71baldboy · #2 10-02-2009, 02:04 AM

Any chance you can view the estimate? Lot's of unseen sh!t you won't really notice till you strip it and lots of litte things that add up to make it expensive.
If you get the quote, hopefully fully itemised, you will get a good idea of what's required.
Remember a fair portion of the cost is labour, and if you're comfortable working on it yourself then it might be a good deal.
Parts can be found online eg ebay, can save alot there sometimes.
Looking on the net, a tidy 2001 will go from anywhere between 10ish to 12 grand.
Might pay you to screw 'em down on the buy back price.

Tuff call, if it were me i'd piss it off and look for a good deal, plenty for sale.

Bone Stockman · #3 10-02-2009, 04:43 AM

I'd be concerned about concealed damage as well, but if you've got the skill, time, and patience to put it back together, I say go for it.

ms_tapestry · #4 10-02-2009, 05:47 AM

As long as the frame isn't tweaked and since you live in the great white north you do have time. Do you hold MSF classes in the winter? Seems I remember something about you holding some classes in some VERY cold weather.

MegaGlide · #5 10-02-2009, 05:56 AM

Me?
I'd wave bye-bye.
Plenty of low mileage bikes out there for good prices, and if the shop/insurance co. missed something big, guess who gets to pay for that now?

Dinero · #6 10-02-2009, 06:10 AM

If it were in someone's garage at a price of $5,000 in it's current condition, I would run like the wind.

I'd take the $10,000 and buy something else.

y2kflhr · #7 10-02-2009, 06:12 AM

I have to agree with all the above, I know highmiles is selling his bike and its beautiful......

why_me · #8 10-02-2009, 06:15 AM

Quote:

Originally Posted by y2kflhr

I have to agree with all the above, I know highmiles is selling his bike and its beautiful......

I was thinking the same thing. That would be a very nice down payment on Highmiles bike, less to finance, and you aren't riding a bike where down the road you have to offload it with a salvage title if you decide to sell it.

Bone Stockman · #9 10-02-2009, 06:50 AM

Quote:

Originally Posted by y2kflhr

I have to agree with all the above, I know highmiles is selling his bike and its beautiful......

Quote:

Originally Posted by why_me

I was thinking the same thing. That would be a very nice down payment on Highmiles bike, less to finance, and you aren't riding a bike where down the road you have to offload it with a salvage title if you decide to sell it.

I completely forgot about that. Buy that beautiful bike.

huckinfog · #10 10-02-2009, 08:34 AM

I haven't had much luck in negotiating the buy back with the adjuster in the past, but it wouldn't hurt to give it a try. They have a pretty good idea what it will bring from the salvage guys.

Scabbydoo · #11 10-02-2009, 09:21 AM

Quote:

Originally Posted by MegaGlide

....and if the shop/insurance co. missed something big, guess who gets to pay for that now?

Yep! When I went down on my sporty, the adjuster did a pretty thorough inspection and wrote up stuff I never saw. Yet, when the dealer tore it down to start the work, there were hidden items the adjuster missed. Was dammm lucky it was covered along with the other stuff.

Sonic · #12 10-02-2009, 09:31 AM

having the bad experience of buying cheap and getting into fixing it up.... take the money and buy a nice one already to go. There always seems to be hidden problems along the line. Also talk to High Miles about his bike...

71baldboy · #13 10-15-2009, 06:37 AM

What's happening Bill?

y2k king · #14 10-15-2009, 07:13 AM

take the money and get a new one.

Parks · #15 10-15-2009, 09:06 AM

There are a lot of nice upgrades you will find on Highmiles' bike that might make it worth finiancing the remaining portion of that after using the settlement as a downpayment. It is 7 years newer afterall. I think I would do that.