It's a built bike, not a HD. HD will hold more value than most anything built as an accumulation of different parts. New frame? Old frame? Sounds like old from the tank on it, probably trashed older bike updated with new stuff. He'll be lucky to get $7500 on the open market...nobody really touching built bikes in this price range. If if was my friend, I'd just tell him I couldn't afford it right now so I wouldn't offend the friend...with some stuff about the wife nagging tossed in for good measure. If the friend's in a money bind and you have the cash and want to help him out, just figure it as helping a friend and pay the guys price knowing you lost money on the deal and won't ever recoup it. Quick edit...if it's family, just say NO. Family and loans/money just never mix. I've got a rule that I never loan money to family unless I can consider it a gift up front cause I'm never getting it back. Same with this deal...you'll have a bike but the value is dropping faster than the temperature this weekend.
If he really needed the money bad and you aren't really in the market for a bike but want to help, here is what I would do. I would be blunt. Tell him you aren't in the market for a bike but never pass up a deal. You feel a good deal would be $8500 and would offer that if it would help. I'd then tell him that he could buy it back for $8500 anytime things worked out and if you ever sold it for more than $8500 you would split the proceeds with him.
I would also think about the effects of insurance for you. You will definitely lose money on the depreciation of the bike. You are also almost guaranteed to pay twice as much on insurance for this "Special construction" bike if you can find someone to insure it. Add that into the equation and ask yourself; is it worth it now? The bike is only worth what one man will pay for it. Does the market suggest it is worth what he is asking? NO! Will it ever come back up in value? NO. Is it worth all you will loose to help a friend out? No body can answer that but you. Like others have said, it’s like gambling. Don’t do it unless you can afford it. Don’t do it if you’re going to be put out and have a grudge at the end of the day. Just my 2¢
Actually, the bike market is fine. The problem is with kit bikes. They are turds. Usually they have a decent motor/tranny/primary and everything else is chinese crap. If it was a nice truly custom bike with quality frame, front end, etc. and had quality craftsmanship they hold value a little better. Too many guys have spent a shitload of money on a bike that is no fun to ride, i.e: rigid, huge stretch and just uncomfortable as hell.
This is the truth, and the ultima is the cheapest of the bunch. It may be blinged out, have the better S&S drivetrain, but in the end it is still titled as an 06 Ultima. It might be worth 9K now, hell you can buy some of the brand new kits for less than 10K, and they just aren't worth much more than what the GOOD PARTS in the kit are worth. If you want a bike, by all means help your friend, cousin, uncle, brother in law , or whoever out a little, but I wouldn't pay more than what it's worth, unless it is EXACTLY WHAT I WANTED.
Next year, $7500. There's just too many $10, 000 fully suspended, nice riding HARLEY's out on the market , and there's going to be more, as the fadsters decide it's not as cool as it used to be, and put their blinged out bike up for sale.
He's your boyfriend, isn't he? You should just love him, and not let money ruin the magic. PS: Realize you are being more open and honest about your intentions with a bunch of Internet chums, than you are being with your "real, real, real close ... friend". That's kinda weird.
The Jalopy Journal
