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Written off - buy from auction and repair?

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  • Written off - buy from auction and repair?

    A couple of months ago I was riding across a roundabout and got cleaned up by a lady who "didn't see" me on my bright yellow bike (modified Hyo 250GT 2006) and bright yellow helmet.

    So, assessor saw the bike at home and declared it a repairable write-off. Mostly it's just cosmetic. Things that need replacing are the rear brake pedal, indicators (weirdly the left one was ripped off even though I fell to the right). And a tune-up as it's running a little rough.

    It was insured for $3k, so I got that plus a grand for the helmet and jacket.

    The insurer said I could buy the bike back for $1k, as that's what the auctioneers pay them to take it. I declined. Funnily enough, I haven't had a call from anyone the last few weeks to pick the bike up so I'm wondering if they will ever take it to the auctioneer.

    If it does get there, I think it would be worth buying for up to $500, then spending around $500 - $1000 to repair it.

    I'm not sure if it being a repairable write-off means it has been de-licenced. If it has, how much hassle and $ it would take to get it inspected and re-registered? Any info appreciated.

    If I could somehow keep it licenced, and keep my number plate I'd be happy.
    Stop the Train Parking charge!
    http://www.change.org/en-AU/petition...ng-at-stations

  • #2
    Given the approvals required to get a written-off vehicle back on the road these days, I wouldn't bother with a bike that's going to be worth about $2000 all up. Then add in the issues with future insurance/resale.

    And no, you can't avoid inspection. Whether you take the plates off the vehicle or not the registration is effectively cancelled once written-off, might as well return the plates ASAP to get as much of a refund on rego as possible.

    Comment


    • #3
      Originally posted by storm View Post
      A couple of months ago I was riding across a roundabout
      You need a 'tard, son.

      Comment


      • #4
        Have a look at the prices for the parts wouldn't be economical otherwise insurance would repair it and will always be recorded as a repairable write off. Also it may look just cosmetic but doesn't take much to bend a frame/sub frame.

        see here also
        http://www.perthstreetbikes.com/foru...-bikes-125056/
        "Some people are like clouds. When they disappear it's a beautiful day"

        Comment


        • #5
          wouldn't waste your money (hyo gt250 repairable write off resale would be $0.00???)
          Originally posted by Rich...
          You got me in trouble...

          Comment


          • #6
            I have a little experience in this matter:

            If you want the bike, pay the insurer the $1,000 now - or even see if you can negotiate with them for a lower figure. It'll go for more than $500 at the auction, probably more than $1,000 too (the auctioneers don't pay $1,000 for a bike they think they're going to sell for $500), and besides the auction price you're up for time plus a trailer to get it back to your place again.

            It's possible the insurer hasn't cancelled the registration - check with them before you agree to a price and even use that as a haggling point. If it's still registered then you don't need to get it inspected.

            But you'd want to be sure of what you're up for in repairs before considering it further.
            Click Link for My Bikes:

            Aprilia RS250
            1985 GSXR750 "Slabbie"

            Comment


            • #7
              To get the bike licensed you need to have the repairs inspected by an authorised inspection place (MotocyclesPlus/Masters) then take it over the pits. It isn't that difficult and it is easy to work out the costs.

              After 2 months the bike status should be updated on the vehicle register here https://transact.ppsr.gov.au/ppsr/Qu...earch?li=False for a few $ you can check if they have processed it.

              Auction houses charge something like $30 a day to store a bike if you don't collect it promptly. Email your insurance company saying that they now owe you 60 days x $30 =$1800 for storage so you will either sell the bike to recover costs, or they can just give you the bike as financial compensation. Two months to collect the bike is a joke.

              Comment


              • #8
                Originally posted by Neil-51 View Post
                Auction houses charge something like $30 a day to store a bike if you don't collect it promptly. Email your insurance company saying that they now owe you 60 days x $30 =$1800 for storage so you will either sell the bike to recover costs, or they can just give you the bike as financial compensation. Two months to collect the bike is a joke.
                Well the money was finalised about 3 weeks ago. Maybe they've forgotten about it (or someone made a mistake and forgot to get it for the auctioneers).

                - - - Updated - - -

                Originally posted by Halo_2 View Post
                Have a look at the prices for the parts wouldn't be economical otherwise insurance would repair it and will always be recorded as a repairable write off. Also it may look just cosmetic but doesn't take much to bend a frame/sub frame.

                see here also
                http://www.perthstreetbikes.com/foru...-bikes-125056/
                Thanks for the link will check it out.

                I don't think it would cost too much to repair ($500 max). It was low-speed mainly scratches.
                Stop the Train Parking charge!
                http://www.change.org/en-AU/petition...ng-at-stations

                Comment


                • #9
                  Originally posted by Ryven View Post
                  Given the approvals required to get a written-off vehicle back on the road these days, I wouldn't bother with a bike that's going to be worth about $2000 all up. Then add in the issues with future insurance/resale.

                  And no, you can't avoid inspection. Whether you take the plates off the vehicle or not the registration is effectively cancelled once written-off, might as well return the plates ASAP to get as much of a refund on rego as possible.
                  Do insurers charge you more for a repaired bike?? Surely not. Not so worried about resale to be honest. I'd be keeping the bike for a long time. Sacrilege I know but I'm not bothered about having anything bigger than a 250, and aren't into riding for the kudo's (obviously, with a Hyo ).

                  - - - Updated - - -

                  Originally posted by Buffle View Post
                  You need a 'tard, son.
                  I needed a tank. Maybe she would have seen me then.

                  Ok, I was riding AROUND the roundabout from north to south . She came out of the left (east) right in front of me.
                  Stop the Train Parking charge!
                  http://www.change.org/en-AU/petition...ng-at-stations

                  Comment


                  • #10
                    lol at some of the responses!

                    you can still insure written off bikes that have been repaired and registered legally..

                    Comment


                    • #11
                      Originally posted by storm View Post
                      Do insurers charge you more for a repaired bike?? Surely not. Not so worried about resale to be honest. I'd be keeping the bike for a long time. Sacrilege I know but I'm not bothered about having anything bigger than a 250, and aren't into riding for the kudo's (obviously, with a Hyo ).
                      Some will, others will not insure it at all. Each to his own as to the size of the bike you prefer, I like bigger bikes more for the better brakes/suspension. I don't think I'll ever find one that's "fast enough", or "powerful enough". ^_^

                      Comment


                      • #12
                        Originally posted by Ryven View Post
                        Some will, others will not insure it at all. Each to his own as to the size of the bike you prefer, I like bigger bikes more for the better brakes/suspension. I don't think I'll ever find one that's "fast enough", or "powerful enough". ^_^
                        My dream bike would be a Street Triple, which you have. SO jealous
                        Stop the Train Parking charge!
                        http://www.change.org/en-AU/petition...ng-at-stations

                        Comment


                        • #13
                          Originally posted by storm View Post
                          ......bright yellow bike (modified Hyo 250GT 2006) and bright yellow helmet...

                          ....It was insured for $3k, so I got that plus a grand for the helmet and jacket.
                          You've just won lotto.

                          Comment


                          • #14
                            Take the $3k they gave you and go buy another Hyo if you liked the model that much. Not worth the fucking around IMO
                            Ryan

                            Originally posted by Aufitt
                            Try Para045, he definitely sounds all gooey in the fork for ya

                            Comment


                            • #15
                              Originally posted by 98kellrs View Post
                              Take the $3k they gave you and go buy another Hyo if you liked the model that much. Not worth the fucking around IMO
                              I think you're right. I just have an attachment to it I guess.... especially as it was nicely modded (and with the top-box rack the guys from CyberTech did for me... but I'll see if I can get that off.... was riveted on so will drill them out). Also take my Harley mirrors (wide angle).
                              Stop the Train Parking charge!
                              http://www.change.org/en-AU/petition...ng-at-stations

                              Comment

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