To buy back or to not buy back my motorcycle?

[Lambaru]

Hey all, My stolen motorcycle was recovered. Unfortunately it was still estimated to be a total loss due to some damage however the engine is still in great condition. The only reason it is totaled is due to needing to replace all fairings, ignition, etc.

Anyone have experience buying the bike back? Is it worth it to part it out for a few extra hundred dollars? Are Ninja 650s easy to part out?

I have to decide by tomorrow morning if insurance is going to take it away or I buy it back from them.

Appreciate any feedback.

 

[tfkrocks]

I bought my bike back after I was hit. Damage was mostly cosmetic. Fixed it up with the minimum amount of stuff needed to make it street legal and pocketed the rest of the insurance money. No fairings now and not pretty but works just fine.

 

[byke]

I'd always go with buy back and turn it into a rat bike, but if you're asking whether or not you can make extra cash from buying it back and parting out it, you probably can, but is it worth the hassle, probably not.

 

[auntiebling]

Do you want a project bike?
Do you have a place to resurrect a project bike?
Does jumping through the DMV hoops to legally return your bike to the road sound like a good way to waste a day or 3?

If the answer to any of those is NO, let insurance take it. IMO etc etc

However, if you think the bike as it sits is worth more than the buyback number, you could keep it and flip for a little profit. It probably isnt enough to be worth the hassle

 

[Lambaru]

Thanks. The main thing I am not sure about is that it needs a new ignition, unless I just want to leave it as a "keyless" start from now on, so anyone can go on joyrides.

 

[FXCLM5]

New ignition is ez don't let that deter you

 

[mototireguy]

Do you want a project bike?
Do you have a place to resurrect a project bike?
Does jumping through the DMV hoops to legally return your bike to the road sound like a good way to waste a day or 3?

Mostly this.

 

[Whammy]

New ignition is ez don't let that deter you

^^^^^ Whammy would agree... its simpler than you think.
However the post Auntie gave you is also very much in play here too.
Its up to you what your time and effort are worth and do you feel up to it.

 

[budman]

It is about economics. If you can hands on it then buy back makes sense

This total came out great and did not cost me a dime.

 

[mrzuzzo]

I guess the only problem is the Ninja 650 isn't a high value bike to begin with. Depends on how much insurance will ask for it.

 

[Lambaru]

I guess the only problem is the Ninja 650 isn't a high value bike to begin with. Depends on how much insurance will ask for it.

They weren't asking much at all. That's why I was entertaining the idea of keeping it.

Thanks for the advice everyone. Im deciding to let insurance take it because I am a full time student and don't really have the time right now to wrench on it. I would have probably kept it if I was already a full-timer.

 

[bikewanker]

They weren't asking much at all. That's why I was entertaining the idea of keeping it.

Thanks for the advice everyone. Im deciding to let insurance take it because I am a full time student and don't really have the time right now to wrench on it. I would have probably kept it if I was already a full-timer.

I understand your decision and hope you didn’t base it on thinking you had to paint it like budman’s.:rofl

 

[budman]

Hey Man... it was the 90's. :x

 

[motomania2007]

I bought back my last totaled bike and parted it out for more than 3x what I paid the insurance company.

 

[Kurosaki]

Frame, engine, forks, wheels okay? buy back. Unless the buy back is stupid high.

Ebay, forums, craigslist, etc, are your friends for all that other stuff that you can fix and fix pretty easily.

Your bike is old enough, those parts should be plentiful via the mentioned sources.

If it was a new bike, I wouldn't bother. Take the money, get another.

I bought back my last totaled bike and parted it out for more than 3x what I paid the insurance company.

There's that too :laughing

 

[Roadstergal]

As noted, they can be good projects, especially if you want a track bike. If you want a reliable daily driver to get around and don't have the time and space to crank on things, pass, take the payout, get a used replacement.