daught
Well-known member
Can I register this bike? It's an insurance write-off, but it wasn't in an accident.
Purchasing a insurance write-off
- Thread starter daught
- Start date
As long as that is a current ownership then yes, see at the top where it says brand none. It would say salvage if it was not registerable. Looks like you are good on that one,
Who are you purchasing it from?
Because if insurance wrote it off it would be a salvage title which is irrepairable.
If you are buying it from the owner, then he just got a lump sum payout for the damage in upward of 80% of the price of the bike so he will probably only be into the bike for about 10-20% of the price new.
My bike was in the same situation, I paid $4200 for the bike and they paid me out $3700 for cash settlement and I was debating on selling it and trying to get like $3000 then take the $6700 and buy something newer. I had a lien on it and they told me they wouldn't let me do that though.
Because if insurance wrote it off it would be a salvage title which is irrepairable.
If you are buying it from the owner, then he just got a lump sum payout for the damage in upward of 80% of the price of the bike so he will probably only be into the bike for about 10-20% of the price new.
My bike was in the same situation, I paid $4200 for the bike and they paid me out $3700 for cash settlement and I was debating on selling it and trying to get like $3000 then take the $6700 and buy something newer. I had a lien on it and they told me they wouldn't let me do that though.
daught
Well-known member
An auto glass shop has this bike. They got it at an auction. I suppose the battery blew up and did quite a bit of damage to the wiring harness. It actually runs with the fuel pump hot wired. It's a 2008 V-Strom with 1200KM going for $2500. The windshield and luggage cases are missing. Considering I am quite good at rewiring stuff, is this a good deal?
Would the UVIP contain information on what brand it is?
This is how the seat looks like after the blast.
Would the UVIP contain information on what brand it is?
This is how the seat looks like after the blast.
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RichinOville
Well-known member
I was in an accident a few years ago and the bike was written off, but since ALL of the damage was cosmetic, the bike didn't get branded. I bought it off the insurance company for $1,600 and spent $900 fixing it up and then sold it, certified, the next season for something like $2500. The only downside was I had to prove to the ins. co. that I had fixed it and they would only insure it for liability.
I just went through this and they don't offer to sell your bike back to you anymore they just offer a cash settlement.
Basically the same thing, they tell you the bike value if new and minus the salvage value off then cut you a check.
daught
Well-known member
I am still looking to purchase this bike. I just find it weird that the ins company paid off this bike, since it was an electrical break down. What if it would have blown it's head gasket? would they have covered it then? The UVIP lists it as unfit, so a safety cert should get it back on the road. It used to belong to Weigel Paul, of Waterloo. If anyone knows him I would love to get in touch with him to ask him a few quick questions.
