| Author | Message | ||
     Jstfkndi |
Just curious as to what the issue with salvage bikes is. I know a lot of people wind up racing them, but is it because of insurance. Not that I'd be worried about having it with comprehensive but as long as you can get liability (the least to have for street) then what is the problem? I have seen posts where people say it can't be put back on the street and wonder to myself...why? Don't know if each state is different, but I bought a salvage bike from a guy who was street riding it and it should be ready for the street soon. Never had to insure one before and just don't see the issue. Thanks! | ||
| Greg_e |
In NY trying to register a salvage/repair title is not exactly a simple task, there is info on the NYS DMV website. Not sure about other states. Normally they end up on the track because you don't need a title on the track. | ||
| Bromanowski |
Yeah I think most of the issues is getting your state to certify it as road worthy again. Every states laws are different and some are easier than others. There is a reason why salvage bikes are only worth 1/2 retail though. | ||
| Hughlysses |
It does vary from state to state. In SC, it makes no difference as far as the DMV. You take your "salvage" title in and license the bike. I don't think I even had to provide any proof that the bike had been repaired. One downside is that some insurance companies will not provide collision insurance for a bike with a salvage title. Another issue is that a lot of people are leery of buying a bike with a salvage title so it will be harder to sell if you decide to get rid of it. Check the NC DMV's website; you may be able to find all the answers to your questions on line. | ||
| Jstfkndi |
Thanks Greg-e! Just trying to wrap my head around it. I knew about the track, but was wondering about the state to state thing. Down here (NC), there doesn't appear to be too much of an issue as long as you can prove the bike is rebuilt, it is still streetable as far as I know. Just can't get comp insurance on them. | ||
| Ulywife |
Jst - several years ago our Uly was declared "totaled". We bought it back from the insurance company, bought the necessary parts and kept riding it. Our NC registration has a "Total Loss Claim" statement on it. We've not had any issues around the title or insurance. | ||
| Etennuly |
Kristi, it makes a big difference if you are retaining the bike or transferring the title. I have helped many customers keep a vehicle that was technically totaled by value. It is when they go to sell it that the problem surfaces. Now days with everything in computers to be easily passed along by the insurance companies, it is easily exposed to the DMV during title transfer. These things are all there to "help" consumers be protected from deceitful sales practices. | ||
| Jstfkndi |
All good stuff guys! Thanks! I know the value is usually less, but unless the bike is completely trashed, I don't mind picking it up cheaper and riding it the way a regular bike would. Sucks that insurance won't cover it (again, depending on state you are in), but if they are good enough to put on a track and have the hell beaten out of them with intense riding and pressure on the frame and components, then why are they not good enough to ride on the street? Just my thoughts. I suppose it all depends on what you want to deal with legally through the DMV and what pains in the a$$ lengths you are willing to go. Wouldn't the taxes be cheaper then also if the value is less? | ||
| Ulywife |
Wouldn't the taxes be cheaper then also if the value is less? Don't count on it. They still show our Uly valued at $6,700. Our yearly taxes are $95. Gotta love NC taxes...not. | ||
| Greg_e |
One thing to check is make certain it was not stolen. The NYS DMV says that is one of the holdups is that they have to check and make sure it hasn't been stolen and then issued a salvaged title. They said it could take months and if they found it had been stolen it goes back to the original person that lost it so you are out your money with nothing that you can do. Assuming it is not stolen, then you have to take it to a specific oafish-all DMV inspection place where the state employees have to make sure it is fixed and road ready. There are not too many of those places in NY as not every DMV has people that can do this work. Sum total is that I decided I will not buy a salvaged vehicle unless it is for the track or for parts to keep another running. | ||
| Jstfkndi |
Ulywife: They are ridiculous!! They tax you for everything! Thanks for the info, because I will have to pay taxes for it once it's on the road and then they will tax me for the full price I imagine. Funny thing is, I thought that the taxes were determined on the weight of your vehicle and year because they wanted you to pay for what damage a heavier vehicle or older vehicle would do to the road, but it is based on the vehicles value. Crap!! NC is so full of it! I've lived here for man, many years and they just keep adding more and more! Greg-e: Sorry to hear it's such a pain up there. I have heard from friends who are from Mass. and NY that the DMV's are always giving trouble. You have to really have your duck sin a row, or you'll be heading back and forth a few times! I appreciate all the info folks! | ||
| Hughlysses |
Don't know about NC, but in SC if you can show them a value from NADA, KBB, Edmunds, etc. (they have a preferred source) that is lower than what they value your bike, they will adjust value of vehicle and taxes accordingly. I used to have to do that every year for my S3. They'd value it at ~$6k and KBB would be ~$4k. | ||
| Froggy |
Yea those commies in NY want $14 every year to renew registration! Then another $7 for annual inspection. Makes owning 4 bikes a lot of fun. |
