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I'm looking at a 2001 LT with 2K miles. Owner wants $12K. Are there specific reliability or other issues I should know about regarding this year of bike? Since I previously owned an '02 LT, I'm very acquainted with the bike's merits. Is the '01 model different (better/worse) in any way? Please be very specific, if you can. Thanks for your comments!

Mark
Rockford, IL
1998 Honda Magna
2002 K1200LT-C
 

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silvermotormark said:
I'm looking at a 2001 LT with 2K miles. Owner wants $12K. Are there specific reliability or other issues I should know about regarding this year of bike? Since I previously owned an '02 LT, I'm very acquainted with the bike's merits. Is the '01 model different (better/worse) in any way? Please be very specific, if you can. Thanks for your comments!

Mark
Rockford, IL
1998 Honda Magna
2002 K1200LT-C
The 01 does not have the linked brakes your 02 did, I think this is a good thing.


12K is a lot of money for an 01 even with those miles.

Look in the classifieds here, there are much newer bikes for not much more money.

I would also be concerned about a bike that old that hasn't been ridden. Seals dry out. ABS pumps tend to fail when a bike has been sitting...

IMO if you're going to spend that kind of money get a newer bike. Hell I'd sell my 03 LTE for 12k and it's only got 9k on it....
 

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I would not pay 12,000 for an 01 even if it was still in the box.
 

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Value of an 01 LT

I would say to use the Blue Book Values

There are two sources for motorcycle (and cars, etc) prices that are commonly used. The NADA (Natl Automobile Dealers Assoc) and KBB (Kelly Blue Book). The NADA is the classic blue book value and it is usually about $1 to 2K below KBB. Both are on the internet for you to look up.

I recently checked on a 1999 LT Custom (top of the line). The NADA gives a range from $5460 to $7180. The KBB gives a range from $6045 (trade in value) to $8830 (retail value). So $12K for an '01 is outrageous. Send me a PM if you need help to look up the values for an '01.

When I recently bought my 2001 LT, I had made offers on at least 20+ bikes, in the middle of the NADA range, often quite a bit less than the owner's asking price. One guy really got indignant, but hey the market is what it is. Ended up with an '01 with 42K on it, kind of high mileage but I think these bikes are easily destined for 100K+.

Values are lower in the winter months, higher in the spring. And if you have a bunch of farkles on it, value will be more. I find when you're selling a bike though, farkles dont count that much.
 

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Just to chime in. I am also in the Chicago area and bought a 2001 in September of 06. The bike had 2,500 on it when I bought it so my deal looked very similar to what you are looking at. I paid $9,500

The market dictiates the price, but wanted you to know what I did since your opportunity looks very similar to mine in '06.

Good luck with your new bike :)
 

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Mark that is a lot for an 01' as others have already told you. Another issues that has not been mentioned but you need to consider.
Low milage can be a curse and not an asset, ie seals fluids etc. Very costly repairs!
 

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gglove said:
Another issues that has not been mentioned but you need to consider.
Low milage can be a curse and not an asset, ie seals fluids etc. Very costly repairs!
See post number 2:D
 

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Ted sorry I read it but by the time I got to the last post I must have forgot :confused:
I getting more forgetful in my old age.
 

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gglove said:
Ted sorry I read it but by the time I got to the last post I must have forgot :confused:
I getting more forgetful in my old age.
No worries, I'm just funnin' with ya:D I have senior moments all the time and I'm only 30:eek:

Had to turn around half way to work yesterday because I forgot something...
 

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As long as when you get home you remember what it is you turned around for!
 

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OU812 said:
$12K for an 01 does seem way like too much. I purchased an 02 LTE last fall with 1200 miles for $10K. Not a great deal, but I am very happy with the price and bike. :)
Sounds like a great deal to me for and LTE...
 
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