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Discussion Starter #1
So I've been trying to sell my 2003 lt for 8months now - KBB value say 8700 I'm at 6999
how much more of a hit do I need to take to get rid of it? Would have though the BMW flagship would hold some value - guess I was wrong. Your thoughts?
Bike pics and specs can be seen here -
http://phoenix.craigslist.org/evl/mcy/1666915771.html
 

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We are in tough times......I know many friends who have been unemployed for a year or two.
Recession = is when your friend is unemployed.
Depression = is when you are unemployed.
 

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I have been flamed for this here before, but your ad needs some help. First add words like motorcycle, bike, touring, etc. I would also add search term like Gold Wing, Concourse, Ultra Classic and other similar bikes. Simply make a list of relevant search words and put them in parentheses at the bottom of the listing. Don’t worry about what the other posters will scream about how unethical this is. You want to maximize your ad's exposure and be on a level playing field.

As for resale value, I have stated before, I have never owned anything with the exception of a pair of shoes that has devalued so much so fast. I think you should be able to get your asking price and more if you change the ad a little and find other places for it such as ebay. Stay away from Cycle Trader, the site is horrible and the staff are all idiots.
 

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TBob said:
So I've been trying to sell my 2003 lt for 8months now - KBB value say 8700 I'm at 6999
how much more of a hit do I need to take to get rid of it? Would have though the BMW flagship would hold some value - guess I was wrong. Your thoughts?
Bike pics and specs can be seen here -
http://phoenix.craigslist.org/evl/mcy/1666915771.html
Nice bike, very good price, especially with the extended warranty. Probably the least desirable color but it should sell for 7k for sure.
 

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Discussion Starter #5
Thanks - yea that's what I keep thinking, it must be the color.
Guy called me from northern Nevada and sounds like he wants to buy it - I'll keep my fingers X

Ted Shred said:
Nice bike, very good price, especially with the extended warranty. Probably the least desirable color but it should sell for 7k for sure.
 

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KBB prices are overinflated.

NADA guide is closer to what you can expect. It shows 03 LT-C at 7065 avg retail. You're not taking a "hit" yet at your asking price.

Good luck with the sale.
 

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If you take the Amsoil reference out, it will sell in a heartbeat. * :p :rotf: :rotf: :histerica
Good luck, it will sell as we get into spring.

* This is an inside joke: Depending how long you have hung around here, you will get it or not.
 

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Currently it is a buyer's market. Now is the time to buy a used Porsche for the same reason you are buying an LT: luxury vehicles.
If you are selling, you are taking a hit; this is similar to the stock market.
 

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I just bought an '03 LT, same color, 88k miles, in showroom condition, from a BMW dealer, with all the bells & whistles (I guess so anyway GPS, CB, etc).

I paid almost a grand less OTD (w/ tax & tag) than what you're asking. I'm in a different part of the country & my bike has 30k more miles so I'd guess you're pretty close to a reasonable price. Esp if you're like most sellers & willing to negotiate a few $.

Around here, this is the beginning of the riding season & bikes are starting to move from both dealers & private individuals. This is the time to sell. My old bike sold in less than 12 hrs on craigslist a couple weeks ago.

I also agree it's totally a buyer's market for any type luxury vehicles right now. Just picked up a Mercedes Benz E350 this weekend for a steal. This was from a M-B dealer & I got a better deal than I could have from a private individual.

You gotta think there's lots of people out there who could barely afford this stuff to begin with that have faced income loss or reduction over the past couple years. Expensive or indulgent things are first to go. You're competing with the guy with a similar bike who has to sell it to make next month's mortgage or put dinner on the table - he doesn't care as much about getting what's fair - he just has to get it sold.

So really, you decide "at anything less than $X, I'd rather just keep it", & just hope for the best.

Cycle Trader around here is popular. Lots of dealers & individuals use it. I found my bikes that way but didn't consider using them to sell since the ads start around $50. Maybe you're at the point where you need to expand beyond craigslist though - after 8 months it might be worth the fee to try Cycle Trader or eBay?
 

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Keep your chin up dude--spring is arriving after a hard winter...the old bug will be biting real hard soon!;)
 

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I think some of the devaluation problem is the bad rap the LT has gotten in the press for high maintenance costs and final drive failures. True the economy is in the tank right, but I've been looking at ads for Wings and they aren't taking nearly the hit the BMW's are. And it seems to be every BMW taking the hit, not just the LT.

BTW, if you were a tad closer, I'd jump on that bike for $7K.
 

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+1 about the advert, try ebay LOTS of picures, BIG description, make it easy for people to buy and they will, keep on about all the goodies the LT has as standard.
Best of luck

Simon
 

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Pheonix got hit hard with the economy. Regardless the resale value of the LT stinks. Unless you are going to keep it for a long time, it's not worth buying new.
 

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Wolfgang said:
If you take the Amsoil reference out, it will sell in a heartbeat. * :p :rotf: :rotf: :histerica
Good luck, it will sell as we get into spring.

* This is an inside joke: Depending how long you have hung around here, you will get it or not.
Boy, you've got guts! :rotf:
 

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Hey, I'll give you bad resale value. A friend was telling me about his Mercedes wagon. Almost 500 hp, 6? built and was a $100k auto 2 years ago. He bought it for $30k. $70k loss in 2 years.
That's bad!!
 

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dwsdad said:
I think some of the devaluation problem is the bad rap the LT has gotten in the press for high maintenance costs and final drive failures. True the economy is in the tank right, but I've been looking at ads for Wings and they aren't taking nearly the hit the BMW's are. And it seems to be every BMW taking the hit, not just the LT.

BTW, if you were a tad closer, I'd jump on that bike for $7K.
There are still people that you meet who say "I didn't know that BMW makes motorcycles". Maybe that and lack of dealer exposure has something to do with it.
 

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I once saw a list of the things that depreciate the fastest after purchase. I believe the BMW motorcycles were listed in fourth place behind diamond rings, computers, and toilet plungers....in that order.
 

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I have seen prices topple in the last two years. Indicative of the times we live in--many people have put purchasing a bike on the back burner.
 

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I've had good luck with Craigslist for small items, but I've found it's a magnet for scams when trying to sell vehicles. Do you have it advertised anywhere else? If not...and if this Nevada lead doesn't pan out, you might consider eBay and/or CycleTrader.com. I mean no disrespect, but Craigslist is not the first place I'd look if I were in the market for touring bike. Best of luck

P.S. - I happen to like the color...certainly better than a few of the other LT colors (I won't mention them here).
 

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Toolman said:
I've had good luck with Craigslist for small items, but I've found it's a magnet for scams when trying to sell vehicles. Do you have it advertised anywhere else? If not...and if this Nevada lead doesn't pan out, you might consider eBay and/or CycleTrader.com. I mean no disrespect, but Craigslist is not the first place I'd look if I were in the market for touring bike. Best of luck

P.S. - I happen to like the color...certainly better than a few of the other LT colors (I won't mention them here).

I've sold items on CL from $20 bucks up to $30k boats and trucks. It's simple and easy if you know what you're doing.
 
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