2006 GZ250 resale value?

[Jruffy]

Does anyone know how much I could get for a '06 gz250 that is in fair condition. (minor damage, it was a starter bike) Thanks, Johnny.

[alanmcorcoran]

I think it depends a lot in what part of the country you are in. If you were out here, I think you could get close to $2500.

I don't have any first hand experience with Missouri, but from the posts I've seen here, I suspect you are probably looking at closer to $2000. You didn't post the mileage or indicate what the "minor" damage is, two elements that would significantly affect the price. Check Craig's list for 250cc street bikes in your area.

[Easy Rider]

Does anyone know how much I could get for a '06 gz250 that is in fair condition. (minor damage, it was a starter bike) Thanks, Johnny.

The 3 major "value" publishers all list bikes: Kelly Blue Book, Edmons (sp?) and I forget the other one. They are good for getting a ball-park idea.

[Jruffy]

It has just over 4,000 miles on it, and I say minor damages such as small scratches on the rear fender and the bottom of the exhaust(I plan on bring it back up to brand new in feb Im just trying to under quote it so I am not disappointed.)

[Easy Rider]

It has just over 4,000 miles on it, and I say minor damages such as small scratches on the rear fender and the bottom of the exhaust(I plan on bring it back up to brand new in feb Im just trying to under quote it so I am not disappointed.)

Not exactly sure where you are going with this but doing anything more elaborate than some polish on the fender and/or some 0000 steel wool and polish on the pipes will NOT get you any more $$$ when it comes time to sell. Most buyers won't even SEE things like that, much less try to get a discount because of it.

[alanmcorcoran]

Johnny,

As I said above, I'm not sure what the local market conditions are. I think you could have done pretty well back in July as there was a "shortage" of small bikes in the market. The surge in gas prices drove a lot of newbs into the market and around here, they sold out of the 2008 250's early. The few that remained commanded premiums over list. This stiffened the market for used bikes, manyof them selling at not much below the MSRP. I'm not sure when the 2009's arrive, probably some have already, but that will take a lot of pressure off the used market and prices are sure to drop. Plus I've seen gas out here for under 3 bucks a gallon, a sharp drop from the near 5 dollar peak back in July. I suspect a lot of the folks that bought a bike to save money on gas are probably re-thinking their decision - a bike is not an economical car, it's a radical change in transportation and I'd venture to say, one that many people are not particularly suited for. So, those bikes will be in the market too.

Back when I sold used vehicles, it was expected that buyers would offer less than what you were asking. After you do your research on Craig's list and Kelley blue book, pick two numbers, say $2500 and $2300. Advertise it for the first, and take any offers that exceed the second. If you haven't sold a vehicle before, check with the local laws on registration, plates, insurance, junk titles, etc. You don't want to take a bad check, or have the guy get in an accident you end up being financially responsible for. It happens.

[Jruffy]

I was thinking of just making them toe it off or something. But I will check into it I like that idea about the two numbers, mine will be $2,000 and $1,700. Thank you.

[alanmcorcoran]

Vehicle sales, registration and insurance rules vary considerably from state to state. In some cases, the plates stay with the vehicle (like here.) In others, with the owner (NY, late 70's.) It's been many years, but I think, in NY, we used to have to mark the titles as "Junk" or "As-is" when we sold used clunkers so there was no recourse if they broke down. The two biggest things to watch out for: Bad checks and no insurance/responsibility. The check thing I'm sure you can figure out - if they write a check, don't give them the bike, the pink slip (if there is one) or the keys, until it clears. The other one, make sure that the financial responsibility for the bike is transferred with the bike. In some states you can do this at the DMV. It's not unusual for someone to take delivery of a vehicle from a private owner, get into an accident, and then have the former owner discover he and his insurance company is still the owner and insured of record. 9 times out of 10 these things don't happen, but you don't want to be #10. Don't let yourself be talked out of doing things by the book either, although this is often a ploy to eliminate paying sales tax (a relatively innocent crime) it is also a hallmark of scammers and check kiters. No cash, no keys, no title, no bike. Time was, you could protect yourself from thieves by asking for a money order or a cashier's check (both still preferable to a personal check) but some of the more inventive low life have found ways to counterfeit those as well. I also would absolutely not allow a "test ride" either, but I'm probably alone on that. If someone wants to see it go, I'll ride it around the block myself. Just my two cents.

[Jruffy]

Gotcha, I totaly agree I am thinking about having my friend help me he is a frequent ebay motors seller. I was just curious on the prices because there going for like a grand or so.. Not cool in my book.
Johnny.

[primal]

alan, regarding the transfer of financial responsibility, I'm under the assumption that, at least here in WV, the moment you sign the title over to the buyer, it is no longer your responsibility. I'm curious how this would work in other states, and/or how signing the title over might not actually transfer complete ownership.

[alanmcorcoran]

Primal,

I'm not an attorney and I've never even played one on TV, but I can tell you from experience that minor mistakes or omissions made on transfers can sometimes (not usually, but sometimes) turn into a headache. Rules, paperwork and documentation vary from state to state, so it's best to ask someone familiar with those in your state, or visit the state DMV site. Some examples of issues that come up in states I've been in include: additional documentation required for mileage, missing buyer info - such as their address - voids the title, additional documentation required for state sales tax board, and so on. Things can get more complicated if the seller doesn't have the title, or there's a bank lien and so on.

In California, there is something called a Notice of Transfer and Release of Liability (see details below.) Reporting the sale or transfer of a vehicle or vessel to the DMV does *not* constitute a transfer of ownership. The record is not permanently transferred out of your name until the DMV receives a completed application for transfer of ownership and payment of appropriate fees from the new owner.

Here is a more detailed explanation from the CA DMV website.

Notice of Transfer and Release of Liability
What is a Notice of Transfer and Release of Liability?
The Notice of Transfer and Release of Liability (NRL) is used to notify the Department of Motor Vehicles (DMV) when you have sold or transferred your vehicle or vessel to another party. It is used only when ownership of the vehicle or vessel has changed. Legal owner transfers (transfers between lenders or removal of a lienholder from the title) do not require an NRL.

How does the notice of transfer and release of liability protect me?
When properly completed, and the information is recorded by DMV, liability for parking and/or traffic violations and civil litigation, resulting from operation after the date of sale, becomes the responsibility of the subsequent purchaser (Vehicle Code §5602). Additionally, when the NRL information is received by DMV, and the vehicle record is marked, no further vehicle registration renewal notices will be mailed to you for the reported vehicle.

Am I required to notify DMV when I sell or transfer my vehicle to another owner?
Yes. You are required by law to notify DMV within five calendar days from the date you sell or transfer title or interest in and deliver possession of a vehicle to another owner (Vehicle Code §5900).

Does the NRL remove my name from the vehicle record?
No. Only the buyer's application for transfer, using the endorsed title received from you, can do that. When the information required on the NRL is received by DMV and updated to the record, you are no longer responsible for civil or criminal actions arising with the vehicle after the date of sale.
For example, you will not be liable for:

Parking or traffic violations resulting from operation of the vehicle after the sale or transfer date, or
Civil litigation resulting from use of the vehicle after the date of sale.
Registration renewal fees and penalties resulting from operation of the vehicle after the sale.
NOTE: In the case of a suit or complaint, the court is responsible for determining if you have complied with the law and are exempt from civil and/or criminal liability.

[Easy Rider]

alan, regarding the transfer of financial responsibility, I'm under the assumption that, at least here in WV, the moment you sign the title over to the buyer, it is no longer your responsibility. I'm curious how this would work in other states, and/or how signing the title over might not actually transfer complete ownership.

He's just being California paranoid !! :biggrin:

In "most" states, the plates do NOT go with the vehicle AND the ownership transfers with a properly signed title. A handwritten bill of sale is a good idea too.

If you have never done one before, it is good to be careful.....about checks and paperwork.....but it's not necessary to obsess about it. :)

[Jruffy]

alan, regarding the transfer of financial responsibility, I'm under the assumption that, at least here in WV, the moment you sign the title over to the buyer, it is no longer your responsibility. I'm curious how this would work in other states, and/or how signing the title over might not actually transfer complete ownership.

He's just being California paranoid !! :biggrin:

In "most" states, the plates do NOT go with the vehicle AND the ownership transfers with a properly signed title. A handwritten bill of sale is a good idea too.

If you have never done one before, it is good to be careful.....about checks and paperwork.....but it's not necessary to obsess about it. :)
Maybe, but it is very good that I am aware, I had no idea. That is strange that they would pull something like that on you though, the whole "still your fault" ordeal.

[alanmcorcoran]

Easy is apparently NOT curious about how it works in other states.

Also, Johnny, if you have no assets, there is little risk of the "still your fault" hurting you, even in paranoid California. Lawyers and lawsuits are only interested when there is money to be taken.

[Jruffy]

I have a house and a car... Maybe I need to take this more seriously.

[alanmcorcoran]

Just check your DMV site. Odds are the rules in your state are closer to Easy's than mine. The best advice I can give you is when you are doing something you've never done before, it's always a good idea to take your time and do some homework. Took me a few painful lessons to learn this myself.

[mrlmd1]

Your selling price of $1700-2000 seems way, way too low, and they are going "for a grand or so" in Missouri? A 2006?
With how many miles and what kind of maintenance?
On NADA they go for a low of $1830 to average retail price of $2405 and on Kelley Blue Book average $2330.
It would have to be in pretty sorry mechanical and cosmetic shape around here for the price to be that low ($1000) but
maybe the economy is really bad in Missouri. Before you advertise the price, do a little research on EBay or other sites or with dealers so you don't get screwed and give away the bike.

[Jruffy]

I will post pics of all the damages soon, You be the judge... Hell if you want to buy it hit me up lol.

[Jruffy]

Here is the long list of damages, I would Like for you to review them and tell me what to expect out of this bike.
It has 4,500 miles on it, 1 mirror, the tip of the brake handle is broke off, minor scratches on the paint, the exhaust was smashed on the bottom due to a rock it also has rust on it very minor its like a coat of it, both brakes need changed, it has a bad battery, missing a bolt on the side engine cover and missing the original bolt from the rear seat, the rear brake cable was seized, and the ignition is like very hard to work with I used to drive it to school, hell to high water, well I drove in the rain, the rest is fine.
Remind you this is damage not all done by myself I have had plenty of help. I am about 1,500 miles away from it and I am going to try to sell it on ebay from were I am and have my sister take the pictures of it and have it uploaded to me. Is this a bad Idea?
Any questions just ask.

[primal]

I don't know if I consider that minor damage... more like neglect. The only things worth fixing would be the things that get it into working order: brake pads, rear brake cable, etc. If in the process of ordering parts to fix those parts, you might find it cheap enough to order the missing bolts.

You're going to have a very difficult time selling the bike if you aren't there in person to sign the title over. You might want to sign the bike over to your sister and let her take care of the paper work.

[Jruffy]

Well, I overshoot everything by miles, I don't like to be disapointed.

[Easy Rider]

I am about 1,500 miles away from it and I am going to try to sell it on ebay from were I am and have my sister take the pictures of it and have it uploaded to me. Is this a bad Idea?


Yes bad idea..... VERY bad idea. :skull:

Putting a member of your family (who may not be all that savy about bikes) in the middle of this is NOT good. Doing it via Ebay makes it even WORSE.

Add to that your apparent inexperience with selling vehicles and I smell a disaster in the making. :cry:

PS Given the more complete list of "minor damages", I think your price might be about right.

[Jruffy]

Yeah, I think Im going to give this up until next year so I can have time to fix it, then find another bike.... 500cc plus.

[jonathan180iq]

Your asking price of $1700-$2000 is about what these things are worth.

I just recently sold mine for $1800.

You should also consider that now that the weather has changed, the number of people looking for a bike and the amount that they are willing to pay to get one has decreased. That being said, I don't think that you'll make much more than that if you wait until the Spring to sell it.

Now that gas is manageable again, people aren't clamoring for two-wheeled vehicles like they were a few months ago.

Give the bike a good wash/wax. Air up the tires and put gas in the tank.
Be up-front and honest with any potential buyer.
If you have the title, all you need to do is sign and date everything as it is written on the title and include a bill of sale. They can be printed from the homepage of your state's DMV website. Unless you are in a state as strict as California about vehicles, you shouldn't have problems transferring ownership. It's really a very simple procedure. I've sold several vehicles and have never had one hiccup. I'm in Georgia, for what it's worth.

[alanmcorcoran]

I'm no longer quoted by Mr. IQ... and Halloween is just around the corner. Sigh.

[IRingTwyce]

How in the world does that much go wrong with a bike in that short a time??? Hell, I'd give you a grand for it. :biggrin:

[jonathan180iq]

I'm no longer quoted by Mr. IQ... and Halloween is just around the corner. Sigh.

I still think highly of you... :pimpdaddy:

[Jruffy]

Good point about the Spring sale thing, Im not so worried about the law any more I think Im all set there.