Thank you for the great answer. Nice to have some backup on the GS500 being a good first bike.
My question so far is what should I look to be paying? Let's say for an 08 to make it easy, what's a good value? Obviously I don't want to over pay or anything.
I'm definitely a sport bike fan, only thing is I don't want to start a 600cc sport bike, and 250 is out of the question. 600cc seems a little scary to start on from what I've seen. Also insurance is better for a gs500 than a sport bike.
My other question is what companies are good for insurance? I don't know much about motorcycle insurance. What's the over opinion of people here for the cheapest insurance companies?
Thank you!
When I bought my 08 in 2011, I paid $3900. It was pretty much brand new, all stock in showroom condition with 3700 km on the odometer.
Now, I would say anything in good working condition and appearance should be above $3000, I would go as high as $3500 for one in really good condition. That being said, you could choose to buy one with a few dings and scratches and probably save some money. That is ultimately up to you. Make sure you know what to look for when buying, or bring someone with you that does (depending on where you are, I could assist).
In my opinion, you are making a really smart decision going for this bike class (500cc). When I changed the bars to something more aggressive, I had such a smile on my face. I then went even more extreme, and switched to clip-on handlebars. I am in a body position similar to a 600SS now. Loads of fun. I have really enjoyed making this bike my own. Every modification I've done has been to make it more personalized and fun for me, so I am really happy with it.
Insurance is really bad. Really really bad. The fact that you are going for a beginner bike will help, but it will still hurt for your first season. It is way to dependent on the factors, so your best bet is to call around (ASAP, before you buy!) and get quotes. Some people buy the bike, and then find out they can't afford the insurance. So call and get quotes.
I am with TD Meloche Monnex, they gave me the best rate by far, but you need to be a student at certain schools or part of a professional group to get a rate with them. You could try regular TD, or try a broker. Your best bet is to read the sticky threads in the insurance subforum.