HD repair title
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Intermediate
Joined: Feb 2006
Posts: 42
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From:
HD repair title
Hi all, I am about to purchase a used HD Road King but the bike is under a Repair title from a certified HD shop. This shops takes bikes that have been laid down or with scratch and dents and repairs them for sale under repair titles. The benefit is I get a bike with very low miles at $2,000-$3,000 less than blue book. Now the bad news is because it is a repair title most banks and credit unions will not accept repair titles for auto loans so I am forced to take a little higher interest rate through HD financing.
I don't make a lot of money and I can't afford a new HD (at least not a RK like the one I want) so this seems like my only option. I want to make sure I am not going to regret this purchase. I know I will love the bike because I have always wanted a HD, but I'm thinking as far as my investment goes will the repair title hurt me in the future when I'm ready to trade up.
Another note: None of these bikes have any frame, engine, etc damage. They are practically brand new bikes with minor cosmetic flaws which are fixed to original HD specs and the bikes are inspected by HD and the state for the title. They look and run like showroom bikes.
I guess I won't get as much on the trade in down the road, but I plan on keeping this bike for a while so should I be worried or go for it?
Anyone else purchased a HD on a repair title?
I don't make a lot of money and I can't afford a new HD (at least not a RK like the one I want) so this seems like my only option. I want to make sure I am not going to regret this purchase. I know I will love the bike because I have always wanted a HD, but I'm thinking as far as my investment goes will the repair title hurt me in the future when I'm ready to trade up.
Another note: None of these bikes have any frame, engine, etc damage. They are practically brand new bikes with minor cosmetic flaws which are fixed to original HD specs and the bikes are inspected by HD and the state for the title. They look and run like showroom bikes.
I guess I won't get as much on the trade in down the road, but I plan on keeping this bike for a while so should I be worried or go for it?
Anyone else purchased a HD on a repair title?
Banned
Joined: May 2005
Posts: 14,496
Likes: 156
From:
RE: HD repair title
JMHO I wouldn't buy a bike with anything but a clear title on it. That repair title more than likely will cut down on the amount of people that would be interested in the bike in the future at selling time and also the resale price too. I know If I were to look at a vehicle and it had a repair title, I would walk away but that's just me. Also like you said, a higher interest rate on a loan may eat up any savings off the purchase price too while it may be A OK as far as the bike itself.
It's a gamble and what type of guarrantee do they give you on the bike because of the damages themselves, will they guarrantee no frame damage etc? It doesn't take a lot to tweak a frame without it being obvious to the eye.
It's a gamble and what type of guarrantee do they give you on the bike because of the damages themselves, will they guarrantee no frame damage etc? It doesn't take a lot to tweak a frame without it being obvious to the eye.
Road Captain
Joined: Dec 2005
Posts: 716
Likes: 5
From: Harley Home
RE: HD repair title
There is a reason they discount salvage title bikes, keep that in mind. I am in the car business and I know from experience once a vehicle has been in an accident it is never the same again. I agree that the money you are saving on the price of the bike would be replaced by finance charges of the higher rate loan. How much are you looking to spend? I recently purchased a used Ultra and got a great deal. You would be amazed how much bike you can get for a low price, clear title and all.
RE: HD repair title
i'd go for it, my dad bought an EG Classic and repaired it himself and he couldn't be happier he got a $15,000 dollar harley for under $5500 after all the work was done, and after 7 years the salvage title will no longer affect the value so if you plan on keeping it that long it doesn't really matter, pus if you like it and are set on getting one just like it get the cheaper one a harley is for you don't let resale value or anything else get in the way of what you want
just my $.02
just my $.02
Road Captain
Joined: Dec 2005
Posts: 716
Likes: 5
From: Harley Home
RE: HD repair title
ORIGINAL: 74_ironhead
i'd go for it, my dad bought an EG Classic and repaired it himself and he couldn't be happier he got a $15,000 dollar harley for under $5500 after all the work was done, and after 7 years the salvage title will no longer affect the value so if you plan on keeping it that long it doesn't really matter, pus if you like it and are set on getting one just like it get the cheaper one a harley is for you don't let resale value or anything else get in the way of what you want
just my $.02
i'd go for it, my dad bought an EG Classic and repaired it himself and he couldn't be happier he got a $15,000 dollar harley for under $5500 after all the work was done, and after 7 years the salvage title will no longer affect the value so if you plan on keeping it that long it doesn't really matter, pus if you like it and are set on getting one just like it get the cheaper one a harley is for you don't let resale value or anything else get in the way of what you want
just my $.02
Road Warrior
Joined: Jul 2005
Posts: 1,655
Likes: 17
From: The Frozen Tundra
RE: HD repair title
Hey Snacky, good to see I'm not the only one who thought about going this route. I purchased my '98 FXDS-Conv back in Dec. from an online auction site specializing in insurance claims and repos' I had to think hard about doing this and my final decision sits in my garage right now. The bike lists at $11,500 and I picked it up for $6,700. By the time I replace the stator, coil, plugs, plug wires, and fluids I'll have about $7,000 total into this excursion. Then I'll have to have the scratches in the tank touched up and then it'll run great and look pretty.
However the bad thing is as TCSTD stated is there are people (probably a majority) that won't invest in a salvage bike so if you do make this purchase I'd recommend you plan on keeping it for a long time. Also you need to know that insurance companies won't insure it for blue book price if it is totaled. My insurance adjuster told me to expect only about 30% off of blue book price. The newer years have it even harder, if I had bought an '02 thru '05 they cut off 50% from the blue book price.
Just a few things to think about.
However the bad thing is as TCSTD stated is there are people (probably a majority) that won't invest in a salvage bike so if you do make this purchase I'd recommend you plan on keeping it for a long time. Also you need to know that insurance companies won't insure it for blue book price if it is totaled. My insurance adjuster told me to expect only about 30% off of blue book price. The newer years have it even harder, if I had bought an '02 thru '05 they cut off 50% from the blue book price.
Just a few things to think about.
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Thread Starter
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Intermediate
Joined: Feb 2006
Posts: 42
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From:
RE: HD repair title
Thanks for the quick replies.
My problem is I don't have the budget for a new HD or even a used HD with a clear title unless I get a sportster or something really old with high miles. I'm getting this 03 Road King with 15k miles for $12k and the only thing close to that price is maybe a 98 Road King with 30k miles for $14k.
I tried going to a HD dealership but I got sticker shock and just walked out. I have a truck that's got 170,000 miles on it that is barely running, but I decided to just put tires on it and new brakes to keep it running for another year so I could get a HD. That's how bad I want one.
When I saw this bike under a repair title I figured what the hell it's just a different title, but after thinking about it I am looking at losing part of an investment if I take the repair title route. I'm really bummed out because its a sweet bike and its at a price I can afford, but I lose in the long run.
I guess I am going to have to do some thinking and figure out if it's really worth it.
This sux.
I do have a few weeks to think about this since the bike has to be inspected by both HD and the State for the title. It's not until it's been inspected by both that it's available to drive home and I haven't signed any paperwork just yet other than a small deposit to hold the bike for me.
Thanks for the input guys, I appreciate it.
My problem is I don't have the budget for a new HD or even a used HD with a clear title unless I get a sportster or something really old with high miles. I'm getting this 03 Road King with 15k miles for $12k and the only thing close to that price is maybe a 98 Road King with 30k miles for $14k.
I tried going to a HD dealership but I got sticker shock and just walked out. I have a truck that's got 170,000 miles on it that is barely running, but I decided to just put tires on it and new brakes to keep it running for another year so I could get a HD. That's how bad I want one.
When I saw this bike under a repair title I figured what the hell it's just a different title, but after thinking about it I am looking at losing part of an investment if I take the repair title route. I'm really bummed out because its a sweet bike and its at a price I can afford, but I lose in the long run.
I guess I am going to have to do some thinking and figure out if it's really worth it.
This sux.
I do have a few weeks to think about this since the bike has to be inspected by both HD and the State for the title. It's not until it's been inspected by both that it's available to drive home and I haven't signed any paperwork just yet other than a small deposit to hold the bike for me.
Thanks for the input guys, I appreciate it.
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Road Captain
Joined: Dec 2005
Posts: 716
Likes: 5
From: Harley Home
RE: HD repair title
ORIGINAL: Snacky
Thanks for the quick replies.
My problem is I don't have the budget for a new HD or even a used HD with a clear title unless I get a sportster or something really old with high miles. I'm getting this 03 Road King with 15k miles for $12k and the only thing close to that price is maybe a 98 Road King with 30k miles for $14k.
I tried going to a HD dealership but I got sticker shock and just walked out. I have a truck that's got 170,000 miles on it that is barely running, but I decided to just put tires on it and new brakes to keep it running for another year so I could get a HD.
Thanks for the quick replies.
My problem is I don't have the budget for a new HD or even a used HD with a clear title unless I get a sportster or something really old with high miles. I'm getting this 03 Road King with 15k miles for $12k and the only thing close to that price is maybe a 98 Road King with 30k miles for $14k.
I tried going to a HD dealership but I got sticker shock and just walked out. I have a truck that's got 170,000 miles on it that is barely running, but I decided to just put tires on it and new brakes to keep it running for another year so I could get a HD.
Tourer
Joined: Jan 2006
Posts: 273
Likes: 2
From: Fort Worth, Texas
RE: HD repair title
Just curious, but does a dealer have to tell you if it's a repair title? And if not how can you find out if it is? I got my 03 FXD and never thought to ask... (duh). At this point I wouldn't put it past the dealer to pull a stunt like this. Is there some way I can trace the title if I don't have it? The bank has it, and I don't trust the dealer anymore to tell me the truth.
Thanks
Mike
Thanks
Mike