Part exchange values
Following on from the recent thread on this subject, I decided to ask my dealer for a price on a new K1300GT taking my bike in part exchange.
My GT is a 2006 model with ALL options and would have retailed full list at somewhere between €20-€21,000. Today he told me it was worth in part exchange, wait for it........ €9940!!!!!!!!!!!!!!! So in 3 years my bike has lost over 50% of it's value.
I never buy any type of vehicle, car or bike, and expect to make money, and was quite happy that when I bought it as a two year old bike I had the benefit of a €5000 saving on new price, equivalent to 25% drop in two years.
How in the hell does it lose another €5000 and 25% in one year????????
Of course this is the dealer price and the private sale value I calculate to be closer to €13600 as it has one years less mileage on it than it should have. Nevertheless the hit is high.
So, the best deal I can get? They will offer €11,397.50 as part ex and I pay full retail. This is a "gain" of 12% based on their €9940 valuation. Alternatively they offer €1000 off list of the bike and throw in registration and delivery costs of circa €400, about 5% saving.
Neither offer is particularly generous, and lead time is 3 months, BUT, if I decide by the end of this week, one can miraculously appear overnight and be available for early May.
How are others finding their part ex values? Seems the adage that the more you pay, the bigger the loss. My friend found his R1150RT is worth €9000 too, and its two years older than mine and was several thousand € less to buy in the first place! Work that one out!