Author Topic: Trying to make sense of the finances of new vs pre-owned  (Read 1294 times)

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OfflineTarkusNY

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    Hi Folks,
    My 2006 K1200LT needs enough work that a replacement bike makes more sense financially.   I've been looking at the GTL Exclusive as its replacement.  I've been watching eBay and have noticed a huge depreciation of the K1600 (various models) over the 1st and second year of ownership.   In many cases it's nearly a 50% drop in price in 2 years.   I'm not talking Blue Book or NADA pricing but real world resell deals.   For what it's worth the LT is down about 80% over the 10 years I've owned it (current condition excluded). 

    Let me be clear that I'm going to get a GTL/Exclusive.  This bike is what I'm looking for, and IMHO is a machine without parallel.   My only concern is with the depreciation over the 1st and 2nd years.  Riding is a passion, and so is the choice of our rides.  However at some point there is a need for financial responsibility and I'm finding it hard to justify ~30K when in 2 years the financials render the bike to the 15-20K range.

    So new or pre-owned (non-dealer)  that's the question. 
    Any one have thoughts on this?


    OfflineJim

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      As long as it has a warranty & you are able to extend it. But it's hard to beat that new bike feeling, but as you say it's at a cost. The choice is yours.


      I had a 2011 GTLE & liked it, but had all the first gen faults, saw the Exclusive & fell in love with it, so the heart won, now own a 2014 Exclusive. Any regrets…not really only the cost, but I am planning on keeping it for a long time & hope that if/when I sell resale is par with most other bikes in terms of depreciation.
      2014 GTL Exclusive

      OfflineTarkusNY

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        There was a 2011?

        Anyway I've been quite surprised at how quickly the value of the LT and the GTLs goes down. 

        I tried to trade my LT last year, and the dealer wasn't interested though they were interested in selling me a new bike at full retail.

        Offlinecanazei1200

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          New to k 1600 needed a bike that could rack up the miles approx 90 a day most days plus fun riding and a euro tour.
          I couldn't afford new or second hand really.
          I went the pcp route to get the bike I wanted.
          I got a 42 000 miles allowance over 4 years of the pcp.
          I won't keep.it that long as I finish work in just over 3.
          My monthly cost is low resale value is agreed servicing at main dealer isn't so bad compared to my ducati.
          I get to ride the bike I want for a low monthly fee and unless you can afford to buy outright it seems to be a good way to go for me anyway

          OfflineBerber

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            I bit the bullet and bought one outside of its warrenty (2 years old). Only 4,400 miles on it and I reckon it will be fine. I bought it from a Yamaha dealership who tell me that if I have it serviced with them it will be warrented for life!

            OfflineFP-NLD

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              @Berber: 2 years old and 4,400 miles is as good as new. That should last you a long time to come.
              Does your Yamaha dealer have the BMW computer for maintenance and the connection to Munich? If not, all he can do is the 'hardware' side like oil change, spark plugs, etc but not the software side.
              Frank (NLD),             BMW K1600 GT Red (2011); top case w/brakelight, comfort package, safety package, F2P, black Wunderlich bars, PDM60, Autocom SPA  |  Other bike: Moto Guzzi V7 850 California (1975)

              OfflineBarnsyuk

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                I went down the PCP route and now on my second GT in 4 years. The warranty lasts 2 years in the UK and I wouldn't run this bike without warranty. The decision to get another new GT was simple, it was due a set of tyres, a 18k service, and if I wanted to keep it the cost of extending warranty. When you add that lot up it nearly covers the deposit on a new bike, so for similar payments I got the latest bike with all the upgrades, keyless and hill start assist, which I thought was a gimmick but now use all the time, lol.

                Hope this helped a little.
                1941 Harley UL 1200 Flathead, 1978 Harley 1200 Shovelhead, K1600GTSE

                OfflineTarkusNY

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                  All your comments are appreciated.... ;)

                   

                  anything