2008 K1200LT for sale...? - BMW Luxury Touring Community
 
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post #1 of 13 Old Aug 13th, 2008, 10:49 pm Thread Starter
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2008 K1200LT for sale...?

I hate to put these words in print, but I think I need to sell my new LT. I am a small retailer and a piece of property came up for sale(a bigger store then what we have now, and out grown out of) that my wife and I want to purchase. It is a large investment and I could sure use a few more thousand dollars to help with the down-payment.
I know how stupid it is to sell a vehicle so soon after buying it... BUT, sometimes, due to situations, and timeframes that arise, maybe it is better to take the loss...
I am thinking about approaching the dealer I bought it from to see what he will do for me. I really don't want the hassle of selling it on Ebay... if he will take it back for cash(?) The title is clear with no liens.
Could someone out there please offer some advice or throw out some ideas?

thanks guys

Joe Dumas (Basic Member)
-from the shores of Lake Michigan
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post #2 of 13 Old Aug 14th, 2008, 5:04 am
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Re: 2008 K1200LT for sale...?

Dealer will take you for a bath, even if they do agree to take/buy it back. A dealer makes profit in mark-up from wholesale to retail. The only role I see for the dealer is, perhaps, selling it on consignement, This, too, will cost you, as they won't do it for nothing. But, worth a try.
There are, however, so many free ways to list your bike. Right here in classifieds. Or, the many buy/sell sites. Or,
http://www.ibmwr.org/market/adlist.php?cat=kbs
and so on. Ebay can be last resort, though the exposure for an eBay ad is tremendous.
Good luck to ya!
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post #3 of 13 Old Aug 14th, 2008, 7:56 am
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Re: 2008 K1200LT for sale...?

I know how it feels to want to buy things and go in debt. Good luck. Thats why I don't own a car You are going to take a loss selling it. But it might be worth it when you figure out the interest rate on your loan.

Neil '00 K1200LT '08 KLR
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post #4 of 13 Old Aug 14th, 2008, 8:02 am Thread Starter
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Re: 2008 K1200LT for sale...?

yeah, I kinda figured that the dealer would be the worst place to unload my bike. I just have to accept the fact that there is no profitable way to sell a newly purchased bike so soon after buying it. I know the depreciation of any major investment is sizeable when buying new. Life's lessons...
I am going to call my dealer anyway, just to see what he says.

I don't really know why I posted this anyway- there is no magic solution. It was just bad timing for me to have bought this bike. dammit!

thanks anyway for the good wishes.

Joe Dumas (Basic Member)
-from the shores of Lake Michigan
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2011 Triumph Speed Triple
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2004 Triumph Bonneville
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post #5 of 13 Old Aug 14th, 2008, 10:10 am
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Smile Re: 2008 K1200LT for sale...?

Before you make any moves towards selling the bike, why don't you first speak to your local banker to determine the maximum $$ amount of the mortgage you will qualify for based on your present financial circumstances ...

I'm not sure of the options in USA surrounding the maximum loan-to-value ratio allowed, but in Canada, banks can offer 'high ratio' mortgages to qualifying applicants with A-1 credit. The mortgage loan amount is greater than 80% but less than 95% of the lesser of: a) what the appraiser states is the value of the property, or b) what it actually costs to buy. In other words, you have less than 20% of a down payment. . ... There is also an insurance premium added to the mortgage that covers the lender in case of default, but the premium would likely be less than the depreciation you would suffer if you sold the bike.

who knows ... you may be in a position to keep the bike and still purchase the property !

Good luck
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post #6 of 13 Old Aug 14th, 2008, 10:43 am
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Re: 2008 K1200LT for sale...?

At least he's looking at commercial property rather than residential property. I heard mortgage lenders are still welcoming commercial clients in with open arms while boarding up the doors when they hear a residential client has entered the city limits.


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post #7 of 13 Old Aug 14th, 2008, 11:25 am
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Re: 2008 K1200LT for sale...?

You can always post it on here for sale, or on the Internet BMW site. If you don't have that site, it is http://www.ibmwr.org/marketplace.shtml
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post #8 of 13 Old Aug 14th, 2008, 11:55 am
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Thumbs up Re: 2008 K1200LT for sale...?

Just a thought.

Right now on Ebay you can list it for free ( used to be a $40 listing) and if it sells, Ebay will charge you $125.00.

What a deal to sell a bike.

Price it high as you'll get a lot of looks.


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Bought used K1200LT number 3. This one is green/teal with 31,369(now 7/29/2018 54,143) miles and is an '02. The first 2 bikes made it to near 150,000 miles.
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Due to heart health, the Dr says not to ride under 40 degree air temp. Ugh! Now it is harder to get my 18000 miles a year in just in the summer. Guess that stopped my 20 degree rides now.
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Love this LT bike and still waiting for my first speeding ticket. LOL
Vern
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post #9 of 13 Old Aug 14th, 2008, 12:01 pm
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Re: 2008 K1200LT for sale...?

Quote:
Originally Posted by eljeffe
At least he's looking at commercial property rather than residential property. I heard mortgage lenders are still welcoming commercial clients in with open arms while boarding up the doors when they hear a residential client has entered the city limits.
Commercial money is very available at very good rates in the short term. None of my sources will commit for long term fixed rates unless it is a large loan with gold backing. Otherwise - they are very aggressive on selective properties - they are not real hot on motels right now. Apartments are hot because of the housing mess and it looks like a good market for the next several years.


Fixed rate residential loans are readily available too, but the underwriting has changed - and continues to change. I get tweaks to programs and notices that some programs are no longer going to be offered as of TOMORROW. How's that for notice. Current home mortgage rates change about three times a day per my investors - not a lot - and sometimes it is up an sometimes it is down. No huge movements lately but just enough to make it hard to work up a loan payment you can have confidence in. If you have great credit, 20% + down, strong reserves, good income with good 'Debt to income' numbers - nothing has changed but the rates.

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post #10 of 13 Old Aug 14th, 2008, 12:17 pm Thread Starter
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Re: 2008 K1200LT for sale...?

thank you for throwing out these ideas and options. Getting different opinions and angles is what makes a forum like this so very valuable. Sometimes we are so close to the problem or obstacle that we can't see around it, or over it!

the gears in my head are turning!!!

Joe Dumas (Basic Member)
-from the shores of Lake Michigan
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2008 Biarritz Blue Metallic LT (Sold)
2004 Triumph Bonneville
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post #11 of 13 Old Aug 14th, 2008, 1:05 pm
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Re: 2008 K1200LT for sale...?

I found my '05 LT on Craigslist. Good site for selling locally: http://geo.craigslist.org/iso/us/mi
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post #12 of 13 Old Aug 14th, 2008, 4:11 pm
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Re: 2008 K1200LT for sale...?

If you have a good relationship with your Banker...he might be willing to use bike as collateral in place of cash. Depending how close you are.
Just a thought.

Bob Thede
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post #13 of 13 Old Aug 14th, 2008, 6:31 pm
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Re: 2008 K1200LT for sale...?

A collegue of mine put his 08, dead stock nothing added with 2k miles on e-bay and got 19,900 in three days. Thats about as good as you can do, I think.

Wolfgang

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