Taking over payments?

[peterfz6]

I'm debating buying a 07 FZ6 from a local.

General info:
Less then 2000 miles
never been dropped
Owes 5500 to Yamaha
No mods
Has extended warranty

Is this a good deal I can pay everything off in one payment but am I over paying? Also is there anything I should know about taking over this loan?

Thanks!

 

[Ryan T]

You can look up the kelly blue book for it. I was going to look it up for you but a zip code is required.

Here is the web site:

http://www.kbb.com/othervehicles

 

[ageezee]

I paid $4000 for my 07 bone stock with 2600 miles a month or so ago. No warranty though.

 

[MRGM]

Sounds about $500 - 1000 high.

 

[phantomxc]

If he is with HSBC Bank(Yamaha currently uses them) don't be surprised if they don't allow you to pay the whole thing off online. Also the online payment system is the worst I have ever used. It's the same as Best Buy. Just a heads up.

 

[peterfz6]

You can look up the kelly blue book for it. I was going to look it up for you but a zip code is required.

Here is the web site:

Motorcycle Values - Official Kelley Blue Book Site

I looked it up prior in my area it's 5080.

I paid $4000 for my 07 bone stock with 2600 miles a month or so ago. No warranty though.

Mind giving your zip code, just want to compare?

Thanks fellas

 

[rdoucet]

The finance company holds the title right now; if you pay the bike off the title will go to the secondary title holder (person you are purchasing the bike from). Then you will need to have the title signed over to you and go to the local DMV to transfer to your name. A bill of sale without the title is useless; bike is paid by you and previous owner holds title - not trying to be cruel but he could easily say the bike is stolen, give police youre information and have you arrested - get his bike back free and clear thanks to you.

I would go to the lending instituation together and talk to them; let them know you are paying the bike off and want the title sent to you, not him or her. Just make sure you cover all the bases before releasing the funds.

Their are many honest people out their, however, better safe than sorry!

Good luck with the transaction

 

[VEGASRIDER]

Here's a link on what we all paid, new and used.

http://www.600riders.com/forum/main...3-how-much-did-you-spend-your-fz6-7200-a.html

 

[RaVzTeR]

Are you a philanthropist and in desparate need of a new bike? Are you close friends or family with the seller?
If so, then go for it :rockon:

Otherwise, if it were me I would probably pay about a 1000 or so less, why should you "suffer" for the sellers "mistakes"!?
$5,500 is a wee bit high; if he does not want to cut his losses and sell it to you for a more reasonable price, I am sure there are better deals out there!

Just a FYI....locally, I have seen 2008s with < 1000 miles posted for $5k, 07s are going between $4,300 and $4,800. Who knows how much they actually got sold for.

Depreciation is a bitch, make it work to your advantage!!

Good hunting! :thumbup:

 

[tuningfork]

What are the terms of the extended warranty? Is this something you want? The seller should be able to cancel the policy and get a pro-rated refund, this could then allow him to sell you the bike at a lower price if you are not interested in the extra coverage. My guess is that the price of the policy is the source of the extra he owes/is asking for the bike esp. if it is a Y.E.S policy, they are not cheap....I bought my '08 NEW last fall here in MA (just the bike, no extras) for not much more than what he is asking.

IMO if the bike has 2k miles on it and everything is working well and you have checked the service history, there is no need for the extra coverage *if* you are somewhat proficient with tools and can do basic services yourself (ie oil/coolant changes, chain tension adjust, clutch cable adjust, TB sync, etc). Otherwise you are paying a little more for piece of mind I suppose.

This bike is better made than my 97 FZR600 and that bike has been extremely reliable....so I anticipate little trouble down the road.

 

[peterfz6]

Thanks fellas this is exactly the kind of feedback I was hoping to get. I'll wait for a better deal. Hope to join the FZ6 family in the near future.

 

[necrotimus]

Good job taking your time. This was my first bike and I was too excited and ended up paying too much to get it out the door but now I know better.

If he is really interested then he can make a large payment to get the price down to your acceptable level. If not it is his loss not yours, another bike will come along.

 

[ageezee]

I looked it up prior in my area it's 5080.



Mind giving your zip code, just want to compare?

Thanks fellas

43119 is my zip code