D-Ramey Posted October 9, 2009 Report Share Posted October 9, 2009 okay so i started a thread the other day about someone pushing my bike over.i talked to the guy doing the estimate and its most likly going to total the bike out my only concern is my bike is already a salvage rebuilt title will they let me buy the bike back? how will this work:confused: Quote Link to comment Share on other sites More sharing options...
Ryan_c_F Posted October 9, 2009 Report Share Posted October 9, 2009 If you don't want them to repo it or whatever I'd imagine they'll just dole you out a check for as much as they think the bike is worth, and you would proceed to do whatever other repairs are needed out of pocket.I've never totalled a vehicle.As an addendum, I hope you totalled that guy's face... Quote Link to comment Share on other sites More sharing options...
D-Ramey Posted October 9, 2009 Author Report Share Posted October 9, 2009 If you don't want them to repo it or whatever I'd imagine they'll just dole you out a check for as much as they think the bike is worth, and you would proceed to do whatever other repairs are needed out of pocket.I've never totalled a vehicle.As an addendum, I hope you totalled that guy's face... the bike already has a salvage rebuilt...so u think they will cut me a check and give me the optio to buy it back?> thats all im worried about is buying the thing back i love that bike Quote Link to comment Share on other sites More sharing options...
Likwid Posted October 9, 2009 Report Share Posted October 9, 2009 the bike already has a salvage rebuilt...so u think they will cut me a check and give me the optio to buy it back?> thats all im worried about is buying the thing back i love that bike"Buying the bike" from the insurance company isn't like buying from a dealer, the bike will likely never leave your possession. Quote Link to comment Share on other sites More sharing options...
Tonik Posted October 9, 2009 Report Share Posted October 9, 2009 the bike already has a salvage rebuilt...so u think they will cut me a check and give me the optio to buy it back?> thats all im worried about is buying the thing back i love that bikeThey will give you two offers. One for them taking the bike, and one for you keeping the bike. So to use made up numbers......1) They think the bike is worth 5,000 and the damages are 6,000. They will offer you 5000 and they get the bike.2) They think they can sell the bike for scrap for 1,000. So they will offer you the chance to keep the bike and they will give you 4,000.Again, made up numbers. Quote Link to comment Share on other sites More sharing options...
D-Ramey Posted October 9, 2009 Author Report Share Posted October 9, 2009 "Buying the bike" from the insurance company isn't like buying from a dealer, the bike will likely never leave your possession. so then what happens if they total the bike out? it becomes there bike unless they let me buy it back right? Quote Link to comment Share on other sites More sharing options...
hue jass Posted October 9, 2009 Report Share Posted October 9, 2009 They don't want the bike. If they total it, they'll just give you a check equaling the cash value (whatever that is according to them). Quote Link to comment Share on other sites More sharing options...
D-Ramey Posted October 9, 2009 Author Report Share Posted October 9, 2009 They will give you two offers. One for them taking the bike, and one for you keeping the bike. So to use made up numbers......1) They think the bike is worth 5,000 and the damages are 6,000. They will offer you 5000 and they get the bike.2) They think they can sell the bike for scrap for 1,000. So they will offer you the chance to keep the bike and they will give you 4,000.Again, made up numbers. id like that offer...lol but idk how they would determ the valve of the bike because it's already been a rebuilt salvage title...its a 2004 gsxr 750 with 7k miles Quote Link to comment Share on other sites More sharing options...
D-Ramey Posted October 9, 2009 Author Report Share Posted October 9, 2009 so most likly say they thought my bike was worth 5,000 and my deduct was 1,000 and they would be will to sell it back for a 1000 they would cut me a check for 3k? and i have to get my bike fixed my self and get the title rebuilt again? Quote Link to comment Share on other sites More sharing options...
D-Ramey Posted October 9, 2009 Author Report Share Posted October 9, 2009 i wonder what the value of my bike is Quote Link to comment Share on other sites More sharing options...
EagleCock Posted October 9, 2009 Report Share Posted October 9, 2009 so most likly say they thought my bike was worth 5,000 and my deduct was 1,000 and they would be will to sell it back for a 1000 they would cut me a check for 3k? and i have to get my bike fixed my self and get the title rebuilt again?yep. that's about the jist of it Quote Link to comment Share on other sites More sharing options...
D-Ramey Posted October 9, 2009 Author Report Share Posted October 9, 2009 yep. that's about the jist of it that will be sweet i guess...as long as i can keep my bike...and get another rebuilt salvage title for it:D Quote Link to comment Share on other sites More sharing options...
Tonik Posted October 9, 2009 Report Share Posted October 9, 2009 i wonder what the value of my bike isThat is going to be the interesting part, I don't know how they take into account a salvage title. I am not even sure they will know. You do not have to accept their offer on the spot, you can sleep on it, ponder it and call them back and negotiate.... Quote Link to comment Share on other sites More sharing options...
jporter12 Posted October 10, 2009 Report Share Posted October 10, 2009 That is going to be the interesting part, I don't know how they take into account a salvage title. I am not even sure they will know. You do not have to accept their offer on the spot, you can sleep on it, ponder it and call them back and negotiate....I have a friend going through this exact same thing with a cage. He bought a totaled 2002 Honda Odyssey a few years ago (from a salvage auction, through a friend) fixed all the damage, got it inspected, titled (rebuilt salvage) van got totaled again last week (not really that tough of a fix, but parts are costly, air bags) and is working on negotiating with the insurance company right now. If all goes well, he'll be fixing it again soon! Quote Link to comment Share on other sites More sharing options...
jporter12 Posted October 10, 2009 Report Share Posted October 10, 2009 In my friend's case, I don't think they even took the rebuilt salvage status into consideration in pricing, just used the KBB, or most likely NADA pricing. Quote Link to comment Share on other sites More sharing options...
D-Ramey Posted October 10, 2009 Author Report Share Posted October 10, 2009 I have a friend going through this exact same thing with a cage. He bought a totaled 2002 Honda Odyssey a few years ago (from a salvage auction, through a friend) fixed all the damage, got it inspected, titled (rebuilt salvage) van got totaled again last week (not really that tough of a fix, but parts are costly, air bags) and is working on negotiating with the insurance company right now. If all goes well, he'll be fixing it again soon!same with my bike its not like crazy damage i can get all the parts my self and do it my self and have my cousin paint it i just dont wanna lose my bike and get stiffed at the same time...In my friend's case, I don't think they even took the rebuilt salvage status into consideration in pricing, just used the KBB, or most likely NADA pricing. nada says 5k so i hope just because its salvage its like half that because i paid more then that... Quote Link to comment Share on other sites More sharing options...
Moto-Brian Posted October 10, 2009 Report Share Posted October 10, 2009 It's a rebuilt title so, it is basically a street worthy and safe machine like a typically traditional titled bike.I would provide a parts list in case the offer is too low and they won't give you much, but the insurance guys will most likely take that into account. Meaning, if it is a salvage rebuild, it isn't worth as much as a non salvage rebuild.I doubt they would as most insurance guys are not really too bright. They look at numbers from provided books like KBB and NADA and base numbers on that. But, you could get a knowledgeable guy and he could technically deduct based on rebuilt. That's why having numbers ready would be good.But, understand that if it is a good bike, they might have a fairly high buy back as they like selling these things. They get good money from auctions and will not be upset to get it back... That's why these salvage bikes are going so damn high - these yards at auction are offering too much money for them. With the economy might get that back into line, but they aren't going to be bummed to get it back... Quote Link to comment Share on other sites More sharing options...
D-Ramey Posted October 10, 2009 Author Report Share Posted October 10, 2009 It's a rebuilt title so, it is basically a street worthy and safe machine like a typically traditional titled bike.I would provide a parts list in case the offer is too low and they won't give you much, but the insurance guys will most likely take that into account. Meaning, if it is a salvage rebuild, it isn't worth as much as a non salvage rebuild.I doubt they would as most insurance guys are not really too bright. They look at numbers from provided books like KBB and NADA and base numbers on that. But, you could get a knowledgeable guy and he could technically deduct based on rebuilt. That's why having numbers ready would be good.But, understand that if it is a good bike, they might have a fairly high buy back as they like selling these things. They get good money from auctions and will not be upset to get it back... That's why these salvage bikes are going so damn high - these yards at auction are offering too much money for them. With the economy might get that back into line, but they aren't going to be bummed to get it back... yeah i just hope im able to buy the bike back and have some money to fix it....im like flat broke from all this court shit...lol i cant affored anything right now so i hope they work with me and let me have the bike and cut me a check Quote Link to comment Share on other sites More sharing options...
gixxie750 Posted October 10, 2009 Report Share Posted October 10, 2009 Who is ur insurance company? Most likely it will be cheaper for them to fix than total so they prob will just give you the $$$$ to repair. Are any hard parts broken? Or just scratches and dings? Quote Link to comment Share on other sites More sharing options...
D-Ramey Posted October 10, 2009 Author Report Share Posted October 10, 2009 Who is ur insurance company? Most likely it will be cheaper for them to fix than total so they prob will just give you the $$$$ to repair. Are any hard parts broken? Or just scratches and dings? all state and the upperstay is broke the right fairing is pretty bad bolts pnched thoughand scraped up pretty good and front fairing is scraped and windscreen broke and the exhaust is scraped... Quote Link to comment Share on other sites More sharing options...
stargazer Posted October 10, 2009 Report Share Posted October 10, 2009 FYI, The insurance guy won't look at the title more than likely don't offer the info. that it's a salvage rebuilt title. If he makes an offer you don't like, negotiate. Also let him make the offer for a total and the insurance company keeping the bike. Then, ask, how much to buy back. His only concern is the bottom line. You'll come out o.k. You will have to go through the salvage process again. You will get a salvage title. Go to your local BMV, pay $53.50 for an inspection form. Make the necessary repairs, documenting any v.i.n.'s from any parts sources and/or retain receipts for purchased parts. Schedule the appointment with the H.P for an inspection. Take the form back to the title office get your rebuilt salvage title. The ins. guy will look at year, make, model, damage, and mileage. Check you particualr bike on e-bay, craigslist and NADA and kelly blue book to get an idea of what a general value was prior to the crash. Quote Link to comment Share on other sites More sharing options...
D-Ramey Posted October 11, 2009 Author Report Share Posted October 11, 2009 FYI, The insurance guy won't look at the title more than likely don't offer the info. that it's a salvage rebuilt title. If he makes an offer you don't like, negotiate. Also let him make the offer for a total and the insurance company keeping the bike. Then, ask, how much to buy back. His only concern is the bottom line. You'll come out o.k. You will have to go through the salvage process again. You will get a salvage title. Go to your local BMV, pay $53.50 for an inspection form. Make the necessary repairs, documenting any v.i.n.'s from any parts sources and/or retain receipts for purchased parts. Schedule the appointment with the H.P for an inspection. Take the form back to the title office get your rebuilt salvage title. The ins. guy will look at year, make, model, damage, and mileage. Check you particualr bike on e-bay, craigslist and NADA and kelly blue book to get an idea of what a general value was prior to the crash.they never said anything about my bike when i got the insurance about it being salvage rebuilt so idk and i hope they work with me, there aint to much to fix it up i got my cousin ready to fix the fairing and maybe go with a new color for 2010... i just gotta buy a new wind screen and upper stay...so i should be good after that just have him write me something out for the fairings and get receit for the wind screen and upper stay and i should be good right? Quote Link to comment Share on other sites More sharing options...
jporter12 Posted October 11, 2009 Report Share Posted October 11, 2009 I think you'll need the docs from the ins co from where you buy it back, but all the rest should be good to go! Quote Link to comment Share on other sites More sharing options...
stargazer Posted October 11, 2009 Report Share Posted October 11, 2009 You don't have the ins. guy write you a check for parts. (He won't do that normally.)You get a settlement plus the bike. You take part of the settlement money and you're responsible to buy the parts yourself. You show the receipts for all parts to repair the bike during the inspection at a salvage facility. But I probably wouldn't buy new parts unless I absolutely had to. If you do go online and get your stuff from Ron Ayers Motosports, it's the cheapest place I've found for OEM plastic, etc. Got any other q's ask me, I deal with this stuff a lot. Quote Link to comment Share on other sites More sharing options...
D-Ramey Posted October 11, 2009 Author Report Share Posted October 11, 2009 You don't have the ins. guy write you a check for parts. (He won't do that normally.)You get a settlement plus the bike. You take part of the settlement money and you're responsible to buy the parts yourself. You show the receipts for all parts to repair the bike during the inspection at a salvage facility. But I probably wouldn't buy new parts unless I absolutely had to. If you do go online and get your stuff from Ron Ayers Motosports, it's the cheapest place I've found for OEM plastic, etc. Got any other q's ask me, I deal with this stuff a lot. what if i had my cousin fix em he work's at a body shop and he can weld the upper stay so he could probably write me a invoice up i can always buy a new windscreen from the pony Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.