do you guys think this is a good idea?

[e-flores]

ok so here is my case, i guy i know in kentucky just wrecked his zx-6r. the insurance co. totaled it out and i am thinking about buying it back from the insurance co. to have a little project bike/trackbike that i could sell and maybe make money off of if at all possible.

so here is the damage:

busted radiator

bent chassis

busted front plastics

bent front rim

and the normal scraping

and pictures

the new chassis is going to run about 1200, radiator 200, rim another 200, and i am going to rplace all the plastics for some cheap race plastics.

what do you guys think?

[gixxie750]

The frame is bent???? Where at? looks like its in great shape,but forks look bent. I'd pay no more than $2000 for it!

[e-flores]

thats the thing i am the one going to buy it back from the insurance co. he had full coverage on it and got his money back from the + some. he wasnt even planing on doing anything with it. he was letting it go but i want to do something with it.

i havent seen it yet, but i was assuming the frame was bent up by the tripple but now that you mentioned it being the forks being bent that would make my job a little easier and less expensive if that is the case.

[Moto-Brian]

Old 6Rs are prone to head issues when crashed like that. I'd say you're never 100% unless you GMD the thing.

Problem is, I bet the insurance company is going to want around $3k for it. It's not worth it at all. If you can get it for $2k, maybe. If the frame is screwed, you're done. Frame, forks, most likely front rim, rad, etc. You'll be in it for over $2k.

That means once you get race glass or street plastic, you'll be over what they are worth with a clean title. You wouldn't want more than $4-$4500 in it total...

[e-flores]

Old 6Rs are prone to head issues when crashed like that. I'd say you're never 100% unless you GMD the thing.

Problem is, I bet the insurance company is going to want around $3k for it. It's not worth it at all. If you can get it for $2k, maybe. If the frame is screwed, you're done. Frame, forks, most likely front rim, rad, etc. You'll be in it for over $2k.

That means once you get race glass or street plastic, you'll be over what they are worth with a clean title. You wouldn't want more than $4-$4500 in it total...

wow i didnt think the insurance would want more than 1k for it..... wake up call!!!

if thats the case i am not going to touch it... i wanst planing on spending more than 3,000 to fix it up, buying it back form the insurance co. and all. and i was even wuestioning spending $3,000 for eveything.

[zerocrash]

Depends on the insurance company, but most of them sell totalled vehicles for 20% of the current NADA retail value.

[gixxie750]

In the first pic the fram does look a little bent. Like lizard said if the frames junk dont buy it! Most insurance companies i've seen always want at least $2000 to buy it back. The crappy thing is it will sell at auction for $500-1000,but you have to have a dealers licence to go to the auction......

[Moto-Brian]

Depends on the insurance company, but most of them sell totalled vehicles for 20% of the current NADA retail value.

Try half of average retail... If they stand on 20%, that bike is only worth $1000 wrecked as NADA calls for $4800. On newer bikes like 2007 and 2008 models that we racers try and find, they are getting 1/2 of normal retail. Bike is worth $11k? They typically get $5k-$5500...

I'd bet my lunch money they want $2500 plus...

Which, if they do, walk away. I can get you a 2006 GSXR600 for $3500 in better shape.

These insurance companies are asking top dollar and relate to more what they typically get at auction for such bikes. Since most salvage places are owned by apparent rich guys with money to burn, they go for big bucks.

Used to be a lot different. Insurance companies would promote buy backs, but now they want to get them to auction. I was just looking at a 2007 GSXR1000 with pretty much zero bodywork and no gauges. They wanted $5k as the buy back figure. That's retarded. I have a dealer that has one traded in and they have $7200 in the thing and it is cherry. If it was in decent shape and had the plastic and gauges, I'd consider it...

I can sell the plastic on the clean titled 07 for $1k, headlight for $200, assorted things like rearsets and whatnot for probably close to $200 and be in the thing for about $800 more than a salvage bike with nothing on it...

The insurance guys have a racket going...

[e-flores]

agreed that is pretty messed up!!! i was thinking i could buy the bike for about 500-1000 because my grandpa bought back a truck of his about 5 years ago from the insurance guys for 700 and that was a truck that would have been worth 5-6k before the wreck, the comparison the the bike and the truck were pretty close so that is what i assumed.

but wow all i can say is i am going to start my own insurance branch and do nothing but rip people off because that seems to be the norm nowadays.

[zerocrash]

Try half of average retail... If they stand on 20%, that bike is only worth $1000 wrecked as NADA calls for $4800. On newer bikes like 2007 and 2008 models that we racers try and find, they are getting 1/2 of normal retail. Bike is worth $11k? They typically get $5k-$5500...

I'd bet my lunch money they want $2500 plus...

Which, if they do, walk away. I can get you a 2006 GSXR600 for $3500 in better shape.

These insurance companies are asking top dollar and relate to more what they typically get at auction for such bikes. Since most salvage places are owned by apparent rich guys with money to burn, they go for big bucks.

Used to be a lot different. Insurance companies would promote buy backs, but now they want to get them to auction. I was just looking at a 2007 GSXR1000 with pretty much zero bodywork and no gauges. They wanted $5k as the buy back figure. That's retarded. I have a dealer that has one traded in and they have $7200 in the thing and it is cherry. If it was in decent shape and had the plastic and gauges, I'd consider it...

I can sell the plastic on the clean titled 07 for $1k, headlight for $200, assorted things like rearsets and whatnot for probably close to $200 and be in the thing for about $800 more than a salvage bike with nothing on it...

The insurance guys have a racket going...

Like I said, depends on the ins. company. I've bought a couple salvage bikes from State Farm and Allstate and they were always 20%. It's been a couple years though... I've heard of others getting bids from salvage companies first.

[kawi kid]

i wouldnt take it for 500 if the frame was bent. way to much of a hassle

[Goldie]

I got hit by a drunk driver in June last year and it totaled my car, State Farm gave me $3,361 for my car, and advised me I could buy it back for $612. I think the 20% figure is pretty spot on. if you have to pay more than $1500 for it, I would forget it. I don't know how people can think the frame is bent, the only pics I see are side shots. And if it is bent, it is minuscule.

[Todd#43]

I got hit by a drunk driver in June last year and it totaled my car, State Farm gave me $3,361 for my car, and advised me I could buy it back for $612. I think the 20% figure is pretty spot on. if you have to pay more than $1500 for it, I would forget it. I don't know how people can think the frame is bent, the only pics I see are side shots. And if it is bent, it is minuscule.

Miniscule damage to the frame?? Are you stoned?

The front wheel is in the radiator for chrissakes....lol, and its NOT the forks. Today's upside down forks will bend a little, but not that much.

I worked at a shop that specialized in straightening bent bikes. A lot of the bent ZX6's we saw ended up having seriously egg shaped bearing races and were unrepairable. My guess is you're probably looking at under $1000.00 to straighten it.

If you can't get it for under $2000.00 you're wasting your time.

[Moto-Brian]

Like I said, depends on the ins. company. I've bought a couple salvage bikes from State Farm and Allstate and they were always 20%. It's been a couple years though... I've heard of others getting bids from salvage companies first.

Trust me, things have changed in the last couple of years. In the racing community, that's really all we buy. Seeing the squids total bikes on a regular basis and many are still within contingency guidelines, they get looked at heavily by racers who can save a TON over new...

20% is a thing of the past... Unless it is totally destroyed and pretty much just parts...

[e-flores]

That sucks hardcore. 20% for that bike would be amazing, they are still in the buy back process the insurance still hasn't giving me a price but I can only hope it is going to be 20%

[Chrisoh]

With a hit like that the forks are probably bent as well and the triple at least some.

As Todd said straightening will run you (maybe even on a replacement frame) 1k. Also will have to have new forks.

[e-flores]

alright so they want $900 do you guys still think this is worth it?

even if i want it i think i have to fight his brother for it.....

[Moto-Brian]

alright so they want $900 do you guys still think this is worth it?

even if i want it i think i have to fight his brother for it.....

Buy it. That's a deal to sell as parts. You can get $600 for the motor, $400 for the wheels, subframe, body panels, etc. will bring additional $. You can make some money.

It's pretty bad. Frame is obviously toast and the forks for that kind of buy back... That's lower than I expected!

[e-flores]

alright, that what i was thinking. would it be worth building it up and tracking it?

[Moto-Brian]

alright, that what i was thinking. would it be worth building it up and tracking it?

No.

Frame - $1k

Forks (stock and no internals) - $200

Forks with goodies inside for track - $400-$500

Front whels with rotors - $250

Bike Cost - $900

Parts just to get a base - $2k

$2900 total. You can buy a used race bike with everything you'd need for about $3500 for that year or even less...

03 GSXR600 Clean title- http://forums.13x.com/showthread.php?t=175316 Bet you could get it for $2900 or less...

03 R6 Clean title - http://forums.13x.com/showthread.php?t=174116 Bet you could get it for $3k...

04 636 Salvage - http://forums.13x.com/showthread.php?t=173323 He's down to $3400. Bet you offer $3k and you're in...

04 R6 - Salvage - http://forums.13x.com/showthread.php?t=173773 He's asking $4k. Offer $3500... Best choice in that 03-04 tears of 600s...

So, once you have $2500-$2900 just as a platform for this bike, you'd need plastic, rear shock, clip-ons, rear sets, pipe, etc...

Overall, better off buying a pre set-up bike as seen above. You'll be better off...