So i on a 2009 696 with 4776 miles. I want an 1100 with zero miles. (unless you know where i can get one with low miles)
how much am i going to lose my ass if i trade it in to the dealer. i know the 1100 is 12K, my 696 as 11K OTD with Termis. Am I being stupid? I have seen people say there insurance and payments are actually lower with the 1100...
would the new 3% interest thing help? are they still doing that? I guess ive never traded a vehicle in for a new one before. Im assuming if i get maybe 7K for my bike, that leaves a couple grand left on my loan, is that just tacked onto the new price?
thanks, this is crazy
If you sell the 696 privately, I think you're going to have to finance/come up with about 5-6K. Gonna be worse if you trade in.
I'd wait for a lightly used 1100 and do a private sale to reduce that gap to about 4-5K.
I want to move up to a 1100 too, but not at those numbers. 2008 Superdukes are going for REALLY low right now ;D
if you are going to get the 1100,
take all your aftermarket stuff, sell it off.
sell the stock bike privately
then buy the 1100.
only way not to lose your shirt.
and anything over 1000cc is going to be higher insurance unless you switch companies and get a lowball price.
when i looked at the 696 vs the HM 1100... double the rate for the HM
When I jumped to the 1100, my insurance only went up 8 dollars a month, $38. I use AAA for all my insurance, vehicles, homes, etc...
When I traded my 696 in, it only had 2200 miles. I have a pretty good relationship with the dealer and after a week or so of negotiating, I got only 700 over Kelly Blue Book but they also took a couple hundred off the 1100 and no setup/delivery fees. The trade in value is was a little over what I owed so I broke even there. The loss was the monthly payments I put in for a year. However, I could not be happier with my decision. Only problem is the roads here have been coated with sand from the weather and my 1100 only has 500 miles since September...embarassing.
If you have the time to sell your bike private party, you'll get more. I just don't have the time or patience. I did what Raux suggested and sold my aftermarket parts seperately. The dealer could care less if you have the aftermarket parts.
You can go to Cars.com and look at their finance calculator for a good estimate of what your payments would be. Your first loan would have to be paid off, either by you or the dealer. The dealer sent a check to my credit union. You would have to apply for a new loan and the dealer would probably roll that into the payments. I do not know if a private bank/credit union would allow your loan to be more than what the bike retails for, accessories included.
perfect thanks guys, yeah i have a private offer for 7K, i think thats good (not sure really)
but he wants the termis. i told him that would be more. he had no idea they were 1300 bucks
would the termis fit onto an 1100???
but yeah, sound like some great advice guys
thanks a bunch
one problem going private (If I read your post right)...if you get 7 for it but then still owe 2K on your loan...you can't sell it as there's a lien on the title. Nobody is going to buy a bike without a clear title.
hmmmm, so what do i have to do? pay it all off first?
that would be the easiest way.
say your loan is 9k left for payoff, you either have to sell it for 9k or make up the difference to the bank to sell it. ie pay 2k to sell your bike in the 7k offer.
if you trade it in they can usually roll some of it into your next bike loan, but that is HIGHLY DISCOURAGED cause you are negative on the value of the new bike immediately.
the best is to do is sell your bike for the amount you owe or more (you can sell off the aftermarket to make up the difference)
all this is if you are desparate for the 1100. else, keep the 696, enjoy it, pay it off or at least pay it down to a reasonable payoff level and then upgrade.
yeah thats is pretty mich where i am at. And yeah i think i might enjoy it a little longer, if i do go through with it at the very earliest it will be this summer. by then, i could be even with what its worth, hopefully.
thanks for the help guys
Quote from: Raux on February 13, 2010, 07:01:03 AM
if you are going to get the 1100,
take all your aftermarket stuff, sell it off.
sell the stock bike privately
then buy the 1100.
only way not to lose your shirt.
+1
Quote from: DucatiTorrey on February 13, 2010, 10:52:12 AM
would the termis fit onto an 1100???
Nope - different ECU, although the cans 'emselves may fit.
if you trade it in you might get a sales tax credit on the difference. Meaning if you get 6k for your 696 and out the door for 12k on the 1100 you only pay tax on the difference. Depending on where you live the hassle of selling it yourself and having to wait may make this advantage worth it, your choice. Me, I'm not going to deal with the shit for 1k in difference but I would over 2k or something close to it. Oh, if you get the 1100 get the FULL exhaust. I rode my friends with slip-ons and full exhaust and there was a noticeable difference.
Good luck.
Quote from: Raux on February 13, 2010, 07:01:03 AM
if you are going to get the 1100,
take all your aftermarket stuff, sell it off.
sell the stock bike privately
then buy the 1100.
only way not to lose your shirt. HM 1100... double the rate for the HM
+1.
On insurance, just call and ask your company. Maybe a few others too.
Scott
I agree on the full exhaust, i don't need the S model, but full exhaust is an option for sure. i was thinking of then selling my termis seperately then to help- make up some cash difference on hat i owe now, then waiting for boom tubes for the 1100 maybe.
and of course this is if i go through with all this,
waiting a year and looking for a used 1100 is an option too
Quote from: DucatiTorrey on February 14, 2010, 08:10:09 AM
I agree on the full exhaust, i don't need the S model, but full exhaust is an option for sure. i was thinking of then selling my termis seperately then to help- make up some cash difference on hat i owe now, then waiting for boom tubes for the 1100 maybe.
and of course this is if i go through with all this,
waiting a year and looking for a used 1100 is an option too
you know i've been thinking about this. the stock exhaust slipons for the 1100 and 696 are the same part number right? i'm pretty sure then the termis will fit. only the ECU won't work. so if you just want the sound you could just swap cans and save the cash.
Quote from: DucatiTorrey on February 13, 2010, 06:21:19 AM
how much am i going to lose my ass if i trade it in to the dealer. i know the 1100 is 12K, my 696 as 11K OTD with Termis. Am I being stupid? I have seen people say there insurance and payments are actually lower with the 1100...
Well you asked so.....probably.
Your insurance will go up, your payments will go up. You will take a bath on your current ride-you've made probably a year of payments-you're hoping to break even if all goes well. This should tell you something.
You say you'll be even this summer-wait until you can sell it for a profit. You do not want to be upside down on a loan-if you ever lose your job, you'll find you don't have the funds to be able to even sell it. This is a bad position to be in.
It's your first bike, according to your previous posts, you haven't even tapped the full potential of it yet-I would give it another year or two, and even try out other rides.
At the end of October '09, the dealer offered me $7700 for my '09 696 w/ Termi, which had 3200 miles on it at the time of trade-in.
Quote from: MrIncredible on February 14, 2010, 08:48:27 AM
Well you asked so.....probably.
Your insurance will go up, your payments will go up. You will take a bath on your current ride-you've made probably a year of payments-you're hoping to break even if all goes well. This should tell you something.
You say you'll be even this summer-wait until you can sell it for a profit. You do not want to be upside down on a loan-if you ever lose your job, you'll find you don't have the funds to be able to even sell it. This is a bad position to be in.
It's your first bike, according to your previous posts, you haven't even tapped the full potential of it yet-I would give it another year or two, and even try out other rides.
thanks for your post, your right, i havent had it that long. i could ride it for a decade more. we will see. its a dream of bling really.
I say ride the 696 till the wheels fall off. in 5 years, you can buy the new 1300cc monster :P
in the mean time... build a dream 696. If looks is all you are after (cmon, do you REALLY need the little bit of extra power?), it is a much cheaper route.
Ignore the itch. Pay off what you have then finance the next one through the bank of your savings account. Get aggressive with your finances and you can probably have it paid off by the end of the year. Keep aggressive with your finances for another year or less and you can buy the next one outright then you're set for a lifetime of not paying finance charges on things that go down in value.
Quote from: Drjones on February 16, 2010, 08:02:29 AM
Ignore the itch. Pay off what you have then finance the next one through the bank of your savings account. Get aggressive with your finances and you can probably have it paid off by the end of the year. Keep aggressive with your finances for another year or less and you can buy the next one outright then you're set for a lifetime of not paying finance charges on things that go down in value.
That is where I am. I have one bike paid for and I'm keeping it, just saved enuff to buy a Monster. I am trying to decide if there is enuff difference in the 696 to the 1100 to be worth it. I got a deal on an 1100 for 11K + tax out the door with the second set of skins.... I rode it and the power was great.
Quote from: Raux on February 13, 2010, 07:01:03 AM
when i looked at the 696 vs the HM 1100... double the rate for the HM
My Hypermotard (1100cc) is slightly cheaper to insure than my S2R800?!
YMMV.
FYI....you always take a bath on any hobby in which you participate so try and mitigate the loss.
Enjoy the 696 for the next year or two and save up and buy a new bike. I'm sure there will be more new options in that time (not necessarily from ducati).
DON'T DO IT DT!!
I'm not sure if you remember but I'm going to remind you..you live in Michigan! There's not a lot of demand up there for Italian bikes. Not to mention, extra cash to throw around at vehicles that can only be used half the year when a sizeable portion the state is out of work. I doubt you would sell the bike anytime soon. If you did buy the 1100, who knows how long you'd be stuck with two bike payments?!
I rode the p*ss out of my 620 for 7 years before jumping up to the 1100.
Just wait DT. You have a lot more miles to go on that thing! [thumbsup]
yeah got yuh, old thread, someone started it back up today
Quote from: Drjones on February 16, 2010, 08:02:29 AM
Ignore the itch. Pay off what you have then finance the next one through the bank of your savings account. Get aggressive with your finances and you can probably have it paid off by the end of the year. Keep aggressive with your finances for another year or less and you can buy the next one outright then you're set for a lifetime of not paying finance charges on things that go down in value.
Some excellent advice [thumbsup]