anyone looking for a cheap LT? - BMW Luxury Touring Community
 
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post #1 of 13 Old Oct 6th, 2006, 7:40 pm Thread Starter
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anyone looking for a cheap LT?

As many of you know, I was rear ended in NYC a couple of weeks ago. I have finally settled with the insurance company. The bike was declared a total. However, She has absolutely no structural damage. Just scratches and little plastic tabs broken on some of the fairings. I think about a grand in parts and paint and you will have a sweet ride. The bike is loaded with cool farkles. She has just under 55k on her and has brand new Ohlins and a 17 ball rear drive. I would like to get at least 5K for her, She runs perfect and only used about 3 oz of oil in my 7800 mile trip I just completed. I rode her 4k home after the accident and she was running perfectly. I am posting here because I will only sell it to someone who can look her in person.

Brian Ley
WA State of mindless sheep
USA where everything is illegal
2007 K1200GT
2010 650GS
2000 k1200LT Sold but not forgotten
BMWOA 119892
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post #2 of 13 Old Oct 6th, 2006, 10:18 pm
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If the bike is totaled it has no title correct?
Rock
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post #3 of 13 Old Oct 7th, 2006, 12:44 am
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depends on which state it is from, some offer a salvage title, and after repairs and an inspection you can get a title, you have to have receipts for repairs and parts in Louisiana, to get a clear title, has to pass inspection with a police officer.

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post #4 of 13 Old Oct 7th, 2006, 1:49 am Thread Starter
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I am not totally sure how it works here in WA. I know I take the bike to the state patrol and they approve it. Not sure but would assume I would have a salvage title. The bike is mechanically perfect. Only cosmetics

Brian Ley
WA State of mindless sheep
USA where everything is illegal
2007 K1200GT
2010 650GS
2000 k1200LT Sold but not forgotten
BMWOA 119892
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post #5 of 13 Old Oct 7th, 2006, 7:24 am
 
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Why would the insurance company total the LT if it would only need to invest $1000 to repair it. I would guess you received 7 to 10 times that amount. At best, at least in MA, you would have to apply for a "salvage" title and then the valus is only in the eyes of the beholder! I find it interesting that they would total the bike and not keep and send it to auction to reciver at least a fraction of the check amount they gave you. Another reason why insurance rates increase! I'm sincerely glad you were not hurt and can possibly move on to a new or newer machine. I'd suggest selling the bike for "Parts" rather than a "Cheap" LT.
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post #6 of 13 Old Oct 7th, 2006, 7:46 am
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a $1000 in parts doesn't equal a $1000 rapair bill .Most insurance companies don't want to waste time getting hosed with huge service bills.Go to"crashedtoys.com" and you'll see most totals are basically cosmetic or easy fixes.In Minnesota you get stuck paying sales tax on what the bike is worth after it's fixed, the crooked basturds

Jeff Bokusky

Shoreview ,Mn.

2001 K1200LT ---
1973 Harley FLH 96 c.i.
1948 Harley EL 88 c.i.
1985 kawasaki KX250
1993 honda XR 200--
1978 Triumph Bonneville
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post #7 of 13 Old Oct 7th, 2006, 8:45 am
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more info from minnesota anyway.
If you retain ownership of the vehicle and the insurance company doesn't take posession the title doesn't get marked as a salvage title. If you let them take it, they are required to report it as salvaged so that when it is transferred the state puts a big red stamp on it saying "previous salvage". I kept my old wing when we go rear ended. It cost me $800 off what the insurance company was going to give us to keep it. The only reason they totalled it was because my company considers it totalled when repair costs are above 60% of value. I did have to have our agent take pictures of the repaired bike for them to reinsure it. If I had your bike I would just take the cash and fix the thing up or try to make a rat bike out of it. I am curious what the salvage price was that the insurance company quoted you?

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post #8 of 13 Old Oct 7th, 2006, 9:37 am Thread Starter
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Quote:
Originally Posted by leckhart
Why would the insurance company total the LT if it would only need to invest $1000 to repair it. I would guess you received 7 to 10 times that amount. At best, at least in MA, you would have to apply for a "salvage" title and then the valus is only in the eyes of the beholder! I find it interesting that they would total the bike and not keep and send it to auction to reciver at least a fraction of the check amount they gave you. Another reason why insurance rates increase! I'm sincerely glad you were not hurt and can possibly move on to a new or newer machine. I'd suggest selling the bike for "Parts" rather than a "Cheap" LT.
Have you ever heard of a handy mans special? In this case its a painters special..Lets say that 8 fairings have scratches. To replace those fairings with brand new color matched BMW parts would cost 4k plus 1k labor. Thats 5K. So, instaed you buy some paint for 100 bucks and paint it yourself. do the math....

Brian Ley
WA State of mindless sheep
USA where everything is illegal
2007 K1200GT
2010 650GS
2000 k1200LT Sold but not forgotten
BMWOA 119892
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post #9 of 13 Old Oct 7th, 2006, 9:40 am
 
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I stand "informed"! Thanks for all the great feedback.
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post #10 of 13 Old Oct 7th, 2006, 10:09 am
 
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hmm

it seems as though if it is totaled, you have to get a disney pass to ride it on the HWY for 3 days. You have to bring all your receipts to the police dept. to show them that the parts you bought were not stolen...anyways..here is a life story on a person that had his car totaled and what he had to do to change that around
Read Me!

to me, it sounds like it is worth the effort. I would think that the effort is not all that bad to deal with, plus with the winter, its a great project to begin.
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post #11 of 13 Old Oct 7th, 2006, 10:25 am
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Quote:
Originally Posted by sanjaun2
Have you ever heard of a handy mans special? In this case its a painters special..Lets say that 8 fairings have scratches. To replace those fairings with brand new color matched BMW parts would cost 4k plus 1k labor. Thats 5K. So, instaed you buy some paint for 100 bucks and paint it yourself. do the math....
I have done the math have played on this ball field before. The insurance company pays what the bike is worth, for a certain dollar figure you get to keep the bike. A chance to make X amount of dollars is present, you you keep the bike.
However no matter what the bike needs, it won't float in some states.
That is why I asked about the salvage certificate (title is a misnomer)
I had a guy from NY with a LT less than 8K on the clock, could do absolutely nothing with it, because his state would not accept the PA salvage certificate. It had become so frustrating and dragged out for him. That he went to the trouble of finding a frame with NY title and was getting ready to switch everything over, when someone gave him my number.
By that time he just wanted out of it (you know how dealing with the state can be, no rhyme or reason to their madness)had an ongoing project with a Norton +Hated even looking at the LT.
He said he could not get bike titled and for for enough cash to pick up a Triumph Cub basket case, he would push the bike extra frame every part and paper work into my truck. The Cub was $1700, we agreed on 2 grand (he had to go pick it up).
I have also had to take bikes to Ohio title them there bring just the paper into the DMV and file for a PA title, and then they never even looked at the bike they would not title before???
So it can be a jackpot depending on what state!
Rock
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post #12 of 13 Old Oct 7th, 2006, 10:40 am
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yep,you're prolly gonna have to jump thru a few hoops with the DMV.The plus side is they are way more concerned with shenanigans going on in the HD titleing process.I was told no inspection on one bike I salvaged only to have them change their mind 8 months later.I think they just wanted the inspection fee, but it still sucked trying to come up with EBay receitts that late in the game.I ended up putting the busted fairing on for the inspection since theres no rule about being pretty.If you're thinking of doing this I would get the requirments from your home state(in writing)beforehand.

Jeff Bokusky

Shoreview ,Mn.

2001 K1200LT ---
1973 Harley FLH 96 c.i.
1948 Harley EL 88 c.i.
1985 kawasaki KX250
1993 honda XR 200--
1978 Triumph Bonneville
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post #13 of 13 Old Oct 7th, 2006, 10:09 pm Thread Starter
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I did talk to the insurance co. and they said this happens all the time. They said there are 2 state patrol inspection stations in the greater seattle/Tacoma area. I must take the bike to them for inspection. I have a friend that bought a salvaged LT and had no trouble with getting it registered here in WA.

Brian Ley
WA State of mindless sheep
USA where everything is illegal
2007 K1200GT
2010 650GS
2000 k1200LT Sold but not forgotten
BMWOA 119892
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