Help me with my VFR Purchase

Discussion in 'General VFR Discussions' started by signal, Mar 28, 2020.

  1. signal

    signal Definitely Not New Member

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    I have a 2003 Honda VFR800. I have owned it for over 10 years.

    I am looking to trade it in and buy a 2015 Honda VFR800F DLX with 8k miles. I have never traded a motorcycle, but I feel it may be difficult to get rid of a 17 year old VFR.

    Two questions I could use help with:
    1) How much should I look to get in trade?
    2) How much should I pay for the new VFR?

    About my 2003 VFR800:

    37000 miles
    Sargent Seat
    Color Matched Givi Side Bags
    Give Side Bag Soft Inserts
    Color Matched Givi Top Case
    Givi lock set with single key for all luggage
    HRC Carbon meter cover, triple cover, gas inlet cover, tank pad
    Two Brothers Carbon Fiber Exhuast
    Race Tech Springs
    DMr Shock
    Helibars
    MRA Vario Touring Screen
    Power Commander V
    Throttlemeister
    Left Panel Powerlet, Stem Powerlet
    R&G Racing Sliders
    Good Tires, Brakes
    All fluids oil, brake/clutch, coolant flushed within last month
    New Air Filter last month
    New Battery last month

    Valves inspected at 30k.
    Fuel Injectors cleaned and all bushings replaced at 32k
    PCV has Dyno tuned map
    Fairings are mint, installed new ones a few years back
    About the 2015 VFR800F DLX:

    Honda Side Bags
    Honda Hugger
    In great shape, very clean
    8k miles


    So in summary, what is a good price to pay for the new bike and what is a good price to expect for my trade?


     
  2. Allyance

    Allyance Insider

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    Have you tried to sell it outright? All the goodies would excite a new buyer but not a dealer. Shop around, don't know how many Deluxe's are still around, bought mine in Dec 2014 used (2600 miles). Your bike sounds like a nice bike for someone just getting started with the VFR family. I had a 2003 and traded it in years ago, I didn't want to lose the deal on the used one which had the side bags and quick shifter. You can justify anything to yourself! What are they asking for the 2015?
     
    Last edited: Mar 28, 2020
  3. raYzerman

    raYzerman Member

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    Always better off selling privately rather than trade-in.
     
  4. signal

    signal Definitely Not New Member

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    I realize that. But I am trading this bike. Its probably one of the best maintained VFR800 VTECs out there. I put a lot into this bike, so many new parts. I am going to pull the ASV brake/clutch handles and move them over to the new bike. I will sell the Givi Luggage (Silver) separate, with all the bits that go with it to mount to VFR800. The thing about bikes and cars, is it doesn't matter how much money you put into it, there is diminishing returns after a certain point......I think I can get $2500-$2800 at best for a 17 year old VFR800 (without the luggage).
     
  5. 34468 Randy

    34468 Randy Secret Insider

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    That is a tough couple questions for someone to answer. Your best bet would be to research the advertised sale price for similar bikes in you general area. Go a year up and year down too. But like said already, a dealership really won't care when offering you a price on your bike for a trade in, about a whole lot of farkles. The side bags and top bag may have some affect on the price but very little. However, you can guarantee they will play all that up when they try to re-sell it.

    But one thing that is very much to your benefit by trading it in, most places anyway. The value of the bike you are buying is reduced by the value of the trade in. So you do not pay taxes on the value of the trade in. Maybe not where you are but everywhere I am aware of this is the case.
     
  6. signal

    signal Definitely Not New Member

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    Randy, I agree. My own analysis shows:

    You can get a close to new 2015 VFR DLX for $6000-7000
    Used ‘07 for $4000
    My ‘03 probably isn’t worth much more than $3000, even with the upgrades.

    Regardless of what its worth, it can be difficult to sell, especially in South Florida where there are ALOT of bikes. Lots of shiny ‘05-current R3, R6, R1, CBR, Busa’s, etc. Many can be had for $3000’ish.

    The tax savings on the trade is just ok. I mean, say I get $2500 on my trade thats a $150 savings @ 6%.......so just ok. I am just going to sell a few items that I can. I am leaving the PCV on though because it does have exhaust and O2 eliminators and really needs the PCV to run properly. I’ll sell the luggage and a few items, and just look forward.
     
  7. raYzerman

    raYzerman Member

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    For a reality check, you need to talk to the dealer you're buying the bike from and see what they'll give you in trade. They have to make a profit too, and aren't going to offer you what you're thinking it's worth. That's just the way it works. Around here anyway, dealers will want to make ~$1500 selling a used bike... I'd be interested to hear what they propose to you.
    That said, on the street, you'll get close to what you're asking, may take a while, may not, always a buyer out there and always another deal out there if the '15 disappears (which likely won't). You have to be patient and don't let a coupla hundred dollars between you and a buyer kill the deal to sell yours.
     
    34468 Randy likes this.
  8. Viffer J

    Viffer J New Member

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    IMO based on my local area, your 6gen with that many miles won't bring much more than a grand or 2 on trade @ a dealer, the used 8gen deluxe with bags is worth ~$7k @ a dealer? I think out of pocket to you would be somewhere in the ~$5k range to close the gap and be out of your 6gen and into your 8gen all done through a dealer?
     
  9. Alaskan

    Alaskan Member

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    Good luck. Like you, I have a modded VFR (2004) that works exactly like I want it to work. Like you, I explored how to get the most money out of the VFR and use that money to help pay for a brand new motorcycle. I concluded that I could have gotten the most money out of the VFR by (1) separately selling the individual upgraded bits (shock, saddle, wheels, etc.); and (2) selling the stock VFR privately. But as you noted, you don't ever recoup the value of the aftermarket parts you put on these bikes and a 2003 VFR itself isn't a high-demand, top-dollar bike.

    Gratuitous question - if you strip your old VFR, won't your Daugherty shock fit on the 2015?
     
  10. Airfiddler

    Airfiddler New Member

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    I remember a friend of mine once telling me his Harley Davidson was an "Investment" ha ha ha ha ha.....
     
  11. Cogswell

    Cogswell New Member

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    In my experience trading in has been an exercise in convenience - no need to answer the phone, have shady characters at my residence eyeing not just the bike but everything else in sight, possibly taking bad checks, etc - the dealer worries about all that if I leave it with them. In the case of these bikes, the last of the new ones have been a very difficult sell let alone ones nearly 20 years old. They're near and dear to us, but to dealers they're Dollars and cents. They only have so much space for inventory and don't want things that languish in their showroom - and they'll probably look to at least double their money on it if they can, so if it were me I wouldn't expect much. That can change if the other side of the trade nets them a tidy profit. In the case of 8th gens they've mostly taken a bath on those as is, so it would not be surprising if the reply to a trade-in inquiry is "we don't want it", or possibly a bid so low that they can just take it to an auction to likely re-coup their money on it. If I were selling I'd trade it - the small amount of extra money a Craigslist ad would net me isn't worth all the trouble, or as suggested just strip off all the extras, sell them in the classifieds here and not worry too much about what the bike brings.
     
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