SETTLEMENT OFFER ON 2010 RT-S

[pro10is]

Well lets look at it here:

Out the Door: $28,000.00
Add-ons: $4,400.00
Total "Invested": $32,400.00

Insurance Offer: $26,600.00

Difference: $5,800.00

I guess I would attack this from the following perspective, Call a couple of dealers. Choose 3 lets say and make them, your local dealer you have a relationship with, a national dealer you trust, and a completely unknown and perhaps hungry dealer that someone you know has had good experiences with.

I would call all 3, tell them you are looking for a 2011 / 2012 with the following options (XM, GPS, Elkas, and a Corbin Seat) and let them price that out for you. Now obviously we have not introduced depreciation into this mathmatical hodgepodge I have thrown out here, but it is kind of a starting place. (Usually brand new items take a 10% to 20% from Brand new to you drove it 1 mile ~ [$28,000.00 * .2 = $5,600.00] Dropping the value to $22,400.00 by the time you get home) take this number add your 4,400 (Total $26,800.00) from earlier and $26,600.00 is just 200 off.

Then hit ebay / craigslist / the WTS here (I think we had a 2010 RT booking at $17,000.00 from a lady recently). If the dealers arent far off the mark, and you could find a replacement for around 17,000 to 18,000 heck you could roll at an $8,600.00 profit which is lots of sparkles.

While the bike was a total loss, is the radio, gps, shocks or Seat Recoverable in your opinion? and if so do you have a chance to take them? I would hazard a guess it wouldn't change the insurances point of view.

Anyhow, just throwing out some math, figures and ideas for you sir. I am glad you are getting better, and that a spyder might be in your future, I hope it all turns out very well!

Since when is an offer of $26,600 on a $32,400 investment fair and generous? I've never taken the first offer on an insurance settlement and I've always ended up with more. They're not going to give you their best offer up front. They're going to see what you'll settle for, that's just smart business. But you have to look after yourself. Listen to zrc and BLUEKNIGHT911. Do your homework. Read your policy very carefully. See if you have a replacement clause for your add ons. I do. Find out exactly what the retail NADA Blue book value of your RT is. You should get at least that including the accessory values listed. If the accident wasn't your fault don't settle for less than NADA retail and see if you can salvage any of your add ons as part of the deal. When you have this knowledge -then- you can decide if their offer was fair. Best of luck.

[NancysToy]

Find the depepricated (used) value of the Spyder at NADA Guides or Kelley Blue Book. From there addhalf the cost of your accessories. That is the market value of your Spyder. If the insurance does better than that, you are sitting pretty well, if worse, you have the tools to negotiate. Few of us carry replacement cost insurance. Our Spyders are not worth what we paid for them...no matter what we think.

[MouthPiece]

Thanks everyone. Everyone's advice has been good. One of the things that I feel is the "up side" about all this is that the spyder seems to hold it's value. The "base value" that they gave me credit for was $23,500.00. I think that's pretty dad gum good for a 2 year old spyder with 25,500 miles on it and cost "out the door/tax tag title, extended warranty, $28,000.00.

Again, my thanks to all.

Chris

[arntufun]

Thanks everyone. Everyone's advice has been good. One of the things that I feel is the "up side" about all this is that the spyder seems to hold it's value. The "base value" that they gave me credit for was $23,500.00. I think that's pretty dad gum good for a 2 year old spyder with 25,500 miles on it and cost "out the door/tax tag title, extended warranty, $28,000.00.

Again, my thanks to all.

Chris

It makes me wonder why more people arn't wrecking thier Spyders on purpose every couple of years. If your getting that much from the insurance, why the heck not !!!

The Dealer would never give you even close to that number your getting if you were going to trade it in. You made out very well.

[spyder3]

It makes me wonder why more people arn't wrecking thier Spyders on purpose every couple of years. If your getting that much from the insurance, why the heck not !!!

The Dealer would never give you even close to that number your getting if you were going to trade it in. You made out very well.

But the dealer will try to resell it for that amount, no doubt

[boborgera]

But the dealer will try to resell it for that amount, no doubt

Yea, Lousy dealer trying to make a profit and pay his rent and employees salaries,They should all go out of business'
Who needs dealers anyway. We can buy direct from the factory and do all warranty work our self.

[gbouten]

[QUOTE=MouthPiece;422322]As many of you know I was involved in an accident which totalled my spyder. It was a 2010 RT-S (limited edition) and back then "out the door" cost me roughly $28,000.00.

In my state the ownder has first rights to purchase for scrap. Normally you can buy back the machine for pennys on the dollar.

[SpyderGirl]

It is difficult to take a loss on your enhancements, however this offer seems very fair.

[ARtraveler]

RE: trade in value: This is going to be way less than what an insurance company will offer you for a totaled vehicle--It still sounds like you received a very fair deal from the insurance company.

I am guessing that my 2010 RTS premier edition with about $2K in farkles and 21,000 miles would be worth about $20k on a trade in on a new 2012 top of the line RT.

I have not asked, or shopped around, because I am not buying a 2012 Spyder. Not enough changes to make it worth my while. I had to have one of the first (2008) one of the first SE5 (2009) and one of the first RT's (2010). Looking back, I spent a LOT of money and kind of got the shaft with trade in value changing from 2008 to 2010. The 2009 is still being ridden by the ex.

BRP has a couple years max to restyle, come up with a bigger engine, etc. and then it will be to late for me to make another major purchase like that. Don't get me wrong, I like my 2010 RTS and it has most everything on it. But: I am also the guy who had a new motorcycle pretty much every other year.