| Author | Message | ||
     Jake99buell |
So I kinda have had some bad luck these last few months and need some advise. So I was buying my dream bike and was quoted for insurance and was ok with the price and decided to take it home. Two days later I receive a phone call from my insurance telling me they have to double my cost of insurance. So besides being pissed off I just can't afford 300 a month on top of my bike payment. I shop around andfing another company but its still high because of this I have been skimming by. Well wife is in college and lost her scholarship this semester and now I'm pretty much depleting my savings trying to keep my head above water. The bike doesn't even have 2k miles yetand I still owe 10900 on it. I hate to see it go but I have to be reponsible and sale it. How do I get out of this major hole I have dug for myself. Currently it is on the showroom floor at my local bumpus harley for 10000 but haven't even had one call about it. Please help | ||
| Bikejunky |
Hey, check with your financing institution and your insurance company but their is type of insurance where they cover the bike for Value in the case of wreck, theft or fire. Some banks will let you have this type of coverage and it's usually a lot less expensive. down side is you lose a lot of personal protection for things like property damage and unisured motorist ect. | ||
| Jake99buell |
Believe it or not I have the minimum coverage. I'm only 20 so insurance companys hate me ;( | ||
| Chevycummins |
$300 a month! My insurance is $550 for the year. You must have many driving awards or something for that price per month. I am insured through State Farm insurance for both my bikes, and my truck. | ||
| Jake99buell |
Not as much as you think. For some reason there is an accident where I was re-ended being put out as it was my fault. You wouldn't believe how hard it is to get that fixed. | ||
| Jdugger |
Dairyland Insurance was less for two 1125r bikes than Progressive was for one, full coverage. It pays to shop around. Also can make an enormous difference if you own instead of rent. | ||
| Xl1200r |
Under 25 is murder. My 1125 was $1200 a year when I was 24, dropped to $360 when I turned 25. I also have State Farm. | ||
| Froggy |
I know the feeling. I pay more in insurance than rent. It sucks, but you got to pay if you want to play  | ||
| Ron_luning |
When I was 22, insurance was just as bad. The cheapest I could find for my CBR1100XX was $3600 a year for full coverage, so I just had liability on the bike for $600 or so. Of course, it ended up being stolen. It's a hard lesson to learn, but you should have purchased a cheap used bike given your age and income. Since it's too late for that, I would recommend taking it off the road via your state DMV. Then tell the insurance company it is off the road and for sale at a dealership. You shouldn't have to worry about the high cost of insurance then. The bike probably won't sell for more than $9000 if it's a 2009, and less than that if it's a 2008. It IS a used bike now, regardless of how you treated it. So you'll have to pay off the other $2000 to the bank and get nothing to show for it. I'd look for another job, or start selling my body on Craigslist to keep the bike if I was you. Good luck. | ||
| Luisemilio25r |
Try Arrowhead Exchange. I tried to get coverage 6 months ago and everybody wanted an arm and a leg (one of the insurance companies wanted 12,000.00 a year!!) My record is pretty bad so I was about to give up and Arrowhead got me insured for 51.00 a month!! Try them. | ||
| Jmr1283 |
arrowhead exchange, um pretty hard to try to even get there phone number. do u have it? | ||
| Rockstarblast1 |
haha im in the same boat as u... well i was insured for 2 weeks then dropped cuz i have 1 ticket and my car isnt on with them and there stuid asses didnt tell me i would get dropped in 2 weeks unless i put my car on... carry just liability and tell the loan company to screw off? lol i need advise also | ||
| Luisemilio25r |
this is their web site https://www.arrowheadexchange.com/ | ||
| Jake99buell |
I'm really wanting to know how to get the bike sold. I see that as my answer right now. I can always go buy another when times get better (wife graduating nursing school) | ||
| Chevycummins |
Might try http://www.cycletrader.com/?CMP=KNC-Google&WT.srch =1&WT.mc_id=Google&gclid=CJeYv5CVuZoCFRAMDQodNF8Ub g | ||
| Kttemplar |
I used ebay to sell my last vehicle and it worked fairly well. Mike | ||
| Thumper74 |
Getting married, turning 25, and buying a house all in the same year really helped my insurance rates... I pay $37 a month for the Buell and a Kawasaki 750 for excellent coverage. Before that it was like $167 for just the Buell. The only thing you can do is shop around. I would avoid having liability only. Statistics don't lie and most sport bike accidents are single vehicle... Paying off a vehicle after it was totalled sucks. I had a Mustang a long time ago that was totalled by a lady without insurance and it took two years to pay off without full coverage. | ||
| Ratyson |
carry just liability and tell the loan company to screw off? No can do. The finance company requires the borrower to have insurance on the collateral that will completely cover them from loss. If the borrower does not supply the proper insurance, the finance company has the right to find it for you, at your expense. And I can tell you from experience, what they find will not cover anything but their collateral... and it will cost the borrower a LOT of money. There is no way to tell the loan company to screw off. You made a promise to them when you agreed to the loan terms. If you back out, the loan company gets to rightfully take their property back, or at least protect it as they see fit. Jake, sucks about the situation. But, sometimes you gotta do what you gotta do. I'm sure you'll be back in the market before too long. Hope everthing falls back in place for you soon! (Message edited by RATyson on May 14, 2009) (Message edited by RATyson on May 14, 2009) | ||
| Rockstarblast1 |
that arrowhead site sucks!!! i cant even figure it out and how do you get a quote? | ||
| Jake99buell |
Thanks guys I really just need the bike sold. Figur Ill just eat the diff with a persomal loan. Figure 100 or 150 a month is better than the 4 I pay for bike and insurance. Just need to find a buyer | ||
| Jmr1283 |
rockstar tell me about it. try dairyland. thats who i have and its 900 a yr. full coverage. minimum on everything but living in maine where 4-5 months out of the yr they figure ur not driving it. | ||
| Krassh |
When you have some dealers selling '08's for between $7995 and $8995 new the best you are going to get is maybe $6500 to $6900. This is one of the reasons mine will be going back to the bank as a result of me losing my job back in March. I owe like $10,000 so there is no way I will be able to sell it for that. | ||
| Zac4mac |
I count myself fortunate that Loretta is paid off. Lost my nice, 50k/yr job last year in Feb, cashed out my 401k and paid of everything. Now I'm living on less than half of that. That which doesn't kill us makes us strAnger. sorry Nietzsche. Z | ||
| Rockstarblast1 |
here in ohio i only ride MAYBE 6 or 7 months out of the year and idc WHAT i signed or WHAT they say all imcarring comp come winter when its sitting IN MY HOUSE all winter but i will try them if worse comes to worse ill just have my dad insure it with his name even tho he has never ridden before lol and ride it.. idc your insuring the bike still.. im with there insurance for my car still and my names not on the card so what does it matter on the bike? |
