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buying my first bike-98 r600 SRAD

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wrx08

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Discussion starter · #1 ·
a good friend of mine is strapped for cash and wants to sell me his 98 r600 SRAD. He is asking for $2200, the bike has 19,000 miles. I won't see the bike until I drive up to buy it, but he is a good friend and says everything is good to go on it. It has a chameleon paint job, black powder coated rims, pirelli diablo tires, exhaust (not sure what kind) and modified gears (for low end power, not sure about the details).

from what I've seen so far, this seems like a really sweet deal. the only problem is, I need $6000 for tuition and I wont have time to get a job, all I have for income is an iPhone repair service that isnt even up and running yet. I'm thinking of taking out a loan to pay for the bike both because I've been wanting one for a long time and because it sounds like a fairly safe investment opportunity. I'm just looking for some feedback and advice, thanks in advance for the help!
 
#4 ·
I don't dont know about you. But I go to school as well. I think its always nice to ride the bike cools me off after bad day of school. Or just going for a cruise. I tend to blank out and just relax. So i'd say go for it and get the bike. I was in the same spot you are except mines a project and breaking down. Seems you have a sweet deal.
 
#5 ·
check the chain, sprocket/s, frame, (make sure not bent or damaged) then you need to replace the OEM cam chain tensioner to a manual one. and you need to buy gears (helmet, gloves, jacket, boots). getting a motorcycle is no joke! and it's not easy to let go once you got her.
 
Discussion starter · #6 ·
yea i was thinking i would just let whoever i sell the bike to take care of the new tensioner and whatnot. my buddy has kept this bike in awesome condition and has already said if anything does happen to break on me he will pay to fix it. he really needs to sell this bike right away so im taking advantage of that. I just need to know about how much the tax title and license will cost me. how do i find this out for my area? (lafayette, louisiana)
 
#7 · (Edited)
A lot of bad financial information in this thread. A motorcycle is a poor investment. It's just negative equity sitting, waiting to lose value due to depreciation or a crash. Wait until you get out of school and have a real job with real money. $2200 is a lot of money for someone that doesn't have any money at the moment. That's an average price for this bike, so don't think you should jump on this because it's the deal of a lifetime. Other better deals will come along. To put it in perspective, I bought mine with 10,000 miles for $1500 last year.

Edit: Chances are, you won't be getting a loan for a bike without a job. SAVE YOUR MONEY!!
 
#8 ·
A NEW bike is a poor investment/negative equity.
A used bike of 13 years has had all the depreciation taken out of it.
Theoretically...It can be bought, kept for an indefinite length of time and then be sold for what it originally cost, sometimes more depending on it's condition.
 
#9 ·
personally, if i had no income and needed money for something like college tuition, i wouldn't waste it on a bike. its not like you just buy it and there's no more expenses. you have to register it, insure it, maintain it, and get gear.

if i were in your shoes, i personally wouldnt get it. even though it could turn out to be a good deal on the bike, it could turn out to be a bad deal for your financial position. just my opinion
 
Discussion starter · #10 ·
well its not as if i have no income at all, its just not a steady guaranteed income. I can make like $300 one day and then not make anything for the next week sometimes. My tuition includes every expense i have (housing, books, food, toiletries) so i would have no other financial responsibilities besides gas and this bike. Yea its a risk, but what good investment isn't?
 
#11 ·
Phone for insurance first! Get a quote, could be @ $3000 / year for a new rider. Depends on age, previous experiance etc...

Get your schooling first. Once you make the big bucks you can get anything.

But, chicks love bikes.... I can't decide for you.
 
#12 ·
wrx08 said:
well its not as if i have no income at all, its just not a steady guaranteed income. I can make like $300 one day and then not make anything for the next week sometimes. My tuition includes every expense i have (housing, books, food, toiletries) so i would have no other financial responsibilities besides gas and this bike. Yea its a risk, but what good investment isn't?
Click to expand...
A risky investment is different than a money pit. You will never get your insurance, maintenance, gear, modification costs back. And you will want to modify it. Want an investment? Buy a bicycle and try stocks.
 
#13 ·
gav.man said:
Phone for insurance first! Get a quote, could be @ $3000 / year for a new rider. Depends on age, previous experiance etc...

Get your schooling first. Once you make the big bucks you can get anything.

But, chicks love bikes.... I can't decide for you.
Click to expand...
WHAT THE FUc^ are you smoking. $3000? He isn't riding a Busa or a
TL1000R

I pay $190 a year for my 1998 600. I'm only 23, but i insured my first bike at 22. I'm sure he's close to my age. I've totaled 2 cars and have been in 5 accidents total as well. Progressive is win. My 1100 Honda Shadow Ace is only $600 a year with coverage as well.

Back on topic though you can't really ask us to decide for you it's your life. I will say though that you have to expect to put some money into the bike. These bikes are old.
 
#14 ·
GreenDayFreakRct said:
WHAT THE FUc^ are you smoking. $3000? He isn't riding a Busa or a
TL1000R

I pay $190 a year for my 1998 600. I'm only 23, but i insured my first bike at 22. I'm sure he's close to my age. I've totaled 2 cars and have been in 5 accidents total as well. Progressive is win. My 1100 Honda Shadow Ace is only $600 a year with coverage as well.

Back on topic though you can't really ask us to decide for you it's your life. I will say though that you have to expect to put some money into the bike. These bikes are old.
Click to expand...
:shifty
 
#15 ·
What's that look for? lol

My insurance is only like 190. I just renewed mine around 1.5 months ago. It's supposed to be around $230, but since I pay it all in full it's discounted. 600CC bikes are not costly to insur.
 
#16 ·
A bike is not an investment at all. its a toy. investments make money. i've been fortunate enough to afford a bike. i bought mine with 20,000 on it for 2,000 dollars. however i've put almost 1,000 more into it this summer on stuff like gear, tire, oil changes, fork seals, new light, plugs, air filter. just stuff that needed to be replaced. I'm still doing stuff to it like cleaning and adjusting the carbs, etc and i also got my gear 1/2 off. Insurance for my bike is about 370 for a year. i've been riding between 4 and 5 years. i use progressive; it will depend on where you live, etc. i'd say hold up, there are plenty of deals out there and no need to rush, waiting a year or so won't kill. we've all probably wanted our bikes for a while before we bought them. as it has been said, its still ultimately your call and nobody knows your situation better than you. good luck.
 
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#17 ·
Yeah, bikes are toys not investments, and you can always expect to put money into the bike. And as far as insurance goes, with once accident and about a million speeding tickets i paid 187 for a full year of coverage from progressive last week. I bought my 98 gsxr 600 for 1400 with 12,060 miles so there are deals out there, granted mine needs a bit of work, but it runs and drives, so.....consider your finances carefully, what are you going to do when it needs repairs and you don't have cash to cover them? The day i bought my bike it had an electrical problem as well as needing a rear tire, etc....cost me almost 500 to get the repairs made.....think about it, but the bike is a blast and chicks do love em.......
 
#18 ·
It seems that many people on this site know everything about motorcycles and nothing about investments. :lmao An investment is something where you expect to gain a financial return. The bike is like an investment though because the $ you will spend on the bike will make up for all the other things you would have done for entertainment if you did not have the bike (opportunity cost) would be a more appropriate term. No matter what you do, school should always come first because it will enable you enjoy your new found love easier. I bought my first bike in February and I am 32. Still in college but Graduate school. You WILL not get what you put into the bike if and when you are ready to sell it if the purchase of the bike is for personal enjoyment -vs- fixing and selling. All the tags, tax, insurance should not be no more than $400 total. When you buy the bike see if you can put $500 or so on the title to reduce your sales tax. Insurance is dirt cheap for these things as far as I am aware. I paid $200 for a year and I have full coverage on it. But if you do buy, I would check sprockets for sure and look for any body repair, because this might give you a little insight on how the bike was ridden. I am no bike expert but there are plenty of them in here, follow their advice on what to lok for. I do and 9 times out of 10, they are money!:punk
 
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wrx08
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