View Full Version : Motorcycle Buy Back?
Hey
Any of you fine people had any dealings with this company? Are they good to deal with and fair with buy back prices and so on? Any enlightening comments would be appreciated and thank you in advance.
White trash
12th May 2011, 15:27
What company? Never heard of 'em........
sil3nt
12th May 2011, 15:34
http://motorcyclebuyback.com/
Dude that runs it is here
http://www.kiwibiker.co.nz/forums/member.php/27230-Peter-Buyback
Got it from here:
http://www.kiwibiker.co.nz/forums/showthread.php/113397-Affordable-bike-hire?p=1129536155#post1129536155
Hitcher
12th May 2011, 18:20
Expensive. "Damage", other than normal wear and tear, should be covered by insurance, a cost that the bike's owner should meet. I also think they're being a bit greedy on the depreciation rates. OK, they offer a guaranteed sale, but I think they're clipping the ticket a bit hard.
p.dath
13th May 2011, 06:53
Expensive. "Damage", other than normal wear and tear, should be covered by insurance, a cost that the bike's owner should meet. I also think they're being a bit greedy on the depreciation rates. OK, they offer a guaranteed sale, but I think they're clipping the ticket a bit hard.
I just pondered that. You can't insure a vehicle you don't own. So the new temporary owner would need to insure themselves to cover "Damage".
Expensive. "Damage", other than normal wear and tear, should be covered by insurance, a cost that the bike's owner should meet. I also think they're being a bit greedy on the depreciation rates. OK, they offer a guaranteed sale, but I think they're clipping the ticket a bit hard.
They say on website bikes up to $5000 they will buy back for 50%, $5000 to $7000 60% and $7000 and up 70%. Are you saying this isn't necessarily true and they ding the hell out of you for any little damage and depreciation? I only plan to have the bike for about a month and a half.
avgas
13th May 2011, 14:34
Seems like a really good way to make money to me.
Renter one - sell bike for 5K
buy back (on books) for 2.5K).
2 - sell for 2.5K
buy back for 1250
3 - sell for 1250
You make 5K off that bike in less than a year and it costs you near nothing (say $500 in services max) in the long run.
Seems like a really good way to make money to me.
Renter one - sell bike for 5K
buy back (on books) for 2.5K).
2 - sell for 2.5K
buy back for 1250
3 - sell for 1250
You make 5K off that bike in less than a year and it costs you near nothing (say $500 in services max) in the long run.
Well like most businesses I'm sure they wanna make money, nothing wrong with that. I'm just trying to weigh options and renting a bike for about 6 weeks sure ain't cheap with lots of restrictions. Figured on buying a bike for $7000- to $10000 and if I could get 70% back when done that would satisfy me. Just worried that 70% turns into 50% or something stupid when the actual time to sell back comes.
Hitcher
13th May 2011, 20:30
I just pondered that. You can't insure a vehicle you don't own. So the new temporary owner would need to insure themselves to cover "Damage".
What? It's a "buy back" scheme, so clearly ownership has changed hands. Otherwise it would be a lease or rental arrangement.
Hitcher
13th May 2011, 20:32
They say on website bikes up to $5000 they will buy back for 50%, $5000 to $7000 60% and $7000 and up 70%. Are you saying this isn't necessarily true and they ding the hell out of you for any little damage and depreciation? I only plan to have the bike for about a month and a half.
It's still cheaper than renting. But the actual depreciation on a $5,000 bikes is bugger all, not half. If they buy it back off you for $2,500 the next time it gets sold will be for a figure dangerously close to $5,000 again, I predict.
It's still cheaper than renting. But the actual depreciation on a $5,000 bikes is bugger all, not half. If they buy it back off you for $2,500 the next time it gets sold will be for a figure dangerously close to $5,000 again, I predict.
I'm sure your right but what options does a guy have? Either rent, ship my bike there from Canada or the buy back which seems to be the lesser of the evils so to speak.
YellowDog
14th May 2011, 06:05
Seems like a really good way to make money to me.
Renter one - sell bike for 5K
buy back (on books) for 2.5K).
2 - sell for 2.5K
buy back for 1250
3 - sell for 1250
You make 5K off that bike in less than a year and it costs you near nothing (say $500 in services max) in the long run.
More like:
Renter one - sell bike for 5K
buy back (on books) for 2.5K).
2 - sell for 4.5K
buy back for 2250
3 - sell for 4k
buy back for 2k
It's a great money making scheme and may do well if it is looking to compete with the rental market.
My preference would be to buy a popular bike off Trademe cheaply and sell it even cheaper :yes:
ajturbo
14th May 2011, 09:12
wow.. think i have a bike here that i will sell you for 9k.. and buy it back (as good a condition as i sold) for only 70%....
2,700 for a month of doing nothing.... hmmmmm
yeah ok.. will put new tyres on it...
what month you be here?
err.. it's a road bike
wow.. think i have a bike here that i will sell you for 9k.. and buy it back (as good a condition as i sold) for only 70%....
2,700 for a month of doing nothing.... hmmmmm
yeah ok.. will put new tyres on it...
what month you be here?
err.. it's a road bike
Not sure the RG50 will fit the bill ajturbo:facepalm:
Jantar
14th May 2011, 10:39
They say on website bikes up to $5000 they will buy back for 50%, $5000 to $7000 60% and $7000 and up 70%. Are you saying this isn't necessarily true and they ding the hell out of you for any little damage and depreciation? I only plan to have the bike for about a month and a half.
So if they have a bike lsted at $4995 it would be better to tell them the bike is worth more than that, and pay $5005 for it. That extra $10 paid will get you an extra $500 back on resale.
wow.. think i have a bike here that i will sell you for 9k.. and buy it back (as good a condition as i sold) for only 70%....
2,700 for a month of doing nothing.... hmmmmm
yeah ok.. will put new tyres on it...
what month you be here?
err.. it's a road bike
I will be there in early November. Need a bike for about 6 weeks. Would prefer a Honda VFR, Triumph Sprint or maybe Suzuki Bandit or SV. Prefer full fairing and side panniers. Best of both worlds performance but can haul a little gear as I will be making lots of kms and probably not staying in the same place for more then a day.
ajturbo
14th May 2011, 11:08
I will be there in early November. Need a bike for about 6 weeks. Would prefer a Honda VFR, Triumph Sprint or maybe Suzuki Bandit or SV. Prefer full fairing and side panniers. Best of both worlds performance but can haul a little gear as I will be making lots of kms and probably not staying in the same place for more then a day.
dam.. counts out the RG50, (no panniers) XB or 1125 (no fairing)... the GT.. maybe a bit small...
I will be there in early November. Need a bike for about 6 weeks.
How about a ZG1400 Concours? What would you consider a fair price to rent for your 6 weeks?
How about a ZG1400 Concours? What would you consider a fair price to rent for your 6 weeks?
Don't know. Is it yours and you willing to part with it for 6 weeks? You tell me what would be fair to you.
avgas
16th May 2011, 16:39
Well like most businesses I'm sure they wanna make money, nothing wrong with that. I'm just trying to weigh options and renting a bike for about 6 weeks sure ain't cheap with lots of restrictions. Figured on buying a bike for $7000- to $10000 and if I could get 70% back when done that would satisfy me. Just worried that 70% turns into 50% or something stupid when the actual time to sell back comes.
Errrr why not just buy a bike for $5K? Then sell it again.
We have a fully functioning e-economy system here called www.trademe.co.nz but I am sure if you picked up a bike for $7K here, did your tour of duty then went to sell it a few weeks later you would easily get your 75+%....... you can even sell bikes on kiwibiker.
Check the bike listings.......someone may even organize a better buy back system than what this guy is offering (privately).
p.dath
16th May 2011, 18:10
What? It's a "buy back" scheme, so clearly ownership has changed hands. Otherwise it would be a lease or rental arrangement.
As I said, if the ownership has changed, then it will be the new owner that needs to insure the bike, not the person operating the buy-back scheme.
Errrr why not just buy a bike for $5K? Then sell it again.
We have a fully functioning e-economy system here called www.trademe.co.nz but I am sure if you picked up a bike for $7K here, did your tour of duty then went to sell it a few weeks later you would easily get your 75+%....... you can even sell bikes on kiwibiker.
Check the bike listings.......someone may even organize a better buy back system than what this guy is offering (privately).
Well that's what I will probably do but from looking at ads not going to get much of a bike for $5000. Would prefer something like a Triumph Sprint, Honda VFR,Suzuki Bandit, Yamaha FZ6R or even FJR that's what I ride here. Don't see too many of these for less then around $9000. Which is fine just want it gone when I'm gone hence why I was wondering if anybody has had dealings with this company. I don't wanna still own the bike when I'm gone waiting who knows how long till it's sold.
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