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Posted by ChilliDrift
 - September 10, 2012, 10:29:07 AM

Well Chief, I read this discussion this morning and found this classified on another site. Id buy it myself, but really dont need it.So I  thought Id pass it on to you and your friend..I hope the bike is still for sale.

http://www.vulcanforums.com/forums/showthread.php?t=29718

Posted by chief
 - September 10, 2012, 09:48:27 AM

PERSONAL loan...

Back when I used to buy on credit and wanted a vintage vehicle or motorcycle, I'd have to resort to personal loans over regular car loans. Back in the old days, there were few places to get a motorcycle loan. I recall trying to buy a brand new Harley (before they had their own finance company). The Navy Credit Union told me they had a cap on motorcycle loans and that $6900 was way to much... that I needed to buy a "cheaper" bike. As a result, I borrowed half the amount on a personal loan, and came up with the rest myself. I subsequently closed out the NFCU account.
The book value is not going to be close to the actual value for these bikes.
Posted by 45 Bravo
 - September 09, 2012, 19:44:15 PM

My friend saw a drifter yesterday at a dealership for sale.
1999, 1500, Custom paint, 2 seats, leather  bags, 30,000 miles.
The dealer wants $4900, he called his bank, the book is 2950 retail, the loan value is 1150.
A long way from $4,900..

I told him that is on par with what the drifters are going for from what I read here on the forum.
I also told him It is like buying a classic car, the blue book on say a 69 mustang is no where what they are actually getting for them..
And the 99' Drifters are the same way, they are in an awkward spot, just old & rare enough to command a higher price tag, but just common enough to be under the general motorcycle public radar..

He was disgusted, saying he old never be able to get a drifter, but I think I have him warmed to the idea of just putting some money back, and waiting.

Eventually, one will pop up in his price range, he just has to be patient, and not jump on the first one that crops up.

So, my question is (and I think I already know the answer)

How do you feel about paying almost double the appraised value of the bike just own one?

45 Bravo

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