To Total or Fix??

[booger]

^ I couldn't agree with Raux more. Let the insurance company total the bike, and pay off the loan. Heal up well, and don't compromise on that part. Do your phys therapy or whatever, take your meds, eat healthy & get plenty of rest. In the meantime save for your next bike, don't finance it.

You really don't want to end up upside down financially on account of a stupid motorbike. We all love these things, but at the end of the day they're just toys. They won't help your vanity much or provide joy if you're broke, have bad credit, have permanent back problems, and are unable to work because you crashed one.

Financing a vehicle, when you think about it, is totally irresponsible. You are paying some insane rate of interest on a rapidly depreciating asset, and one that requires money to operate on top of monthly finance payments. Complications arise as well when you total a vehicle you do not actually own(the bank owns that vehicle, you do not). I could go on and on about it but this is not meant to be a lecture. It's mind-boggling the financial disadvantage it puts a person in. So just let the insurance company total that bike out and get out from under the loan.  

Learn to resist the 'gotta have it now' urge and pay cash for the next one. After your back has healed of course.

[J5]

there is a whole lot of great advise in here

there is a lot of should do this or should do that

Best number 1 advise is concentrate on getting better

next is finance for any vehicle isnt a great idea

Now when it comes to your decision on the bike there is several options and currently you are trying to make a decision with a few unknown factors

1 is total the bike , finance gets paid out and you are prob left with nothing , bike isnt that old anyway

My opinion is you need to have a negotiation with the insurance company as to what the salvage value is and work out is it worth it

say for example the bike is rideable and all just cosmetic scratches and you can keep the bike and its only cost you $1000 , then wouldnt you keep it ??

you then have the fun of ebay and owing the bike you want debt free so your credit doesnt matter

things to remember the insurance companies 1st offer is not the best and there is always room for negotiation

Since you are paying finance then its in your best interest to get it sorted asap to stop the payments , you might want to contact your finance co and let them know what is going on, they may hold payments while the insurance co is working it all out

Me personally if at all possible a bike with that much damage i wouldnt want the insurance company to repair as new , it will never be right , take the money and run and find another bike at a later date when you are physically able to ride again