Decision time..Sell my 998 now or ride the rough seas for a while??

1323 Views 12 Replies 0 Participants Last post by Guest, Apr 9, 2005

Discussion Starter · Apr 8, 2005

Decision time..Sell my 998 now or ride the rough seas for a while??Need HELP!!!!

Hey guys:
Due to some unforseen financial and job related events, I am at crossroads about selling my 998.
Here is a bit of history..
I have been riding for 14 years, raced CCS and WERA about 6 years, have owned every brand from Honda to Aprilia , 2 stroke and 4..and the ONE motorcycle that I ever wanted to own was a 916 (916/996/998).
Now, after about 10 months of ownership, I am in a tough situation..I am still making payments on the 998 but with everything else that going on, the payments are getting harder to make..I can still make the payments but that money could be used for savings or pay some bills off.
As much as it would HURT to sell this thing, I am willing to part with it IF I had to.
If I decide to keep it, it will be at the cost of not paying some debt off and/or not buying some investment property with that money.
My greatest fear is that since the 998 isn't made/sold anymore, WOULD I be able to buy another one as clean and with as low miles as the one I have.
I bought this one at 2800 miles, its got 5900 now and literaly looks BRAND NEW(Lots of credit to "cyclenut" for taking good care of it).
Another concern is that the Factory warranty expires in a month..
WILL it be easier to sell with the bike still under Factory waranty, or is teh factory waranty less of a factor than Actual Condition fo the bike?

I am sorry for so many questions, but I really need a 3rd party opinion on my position.
as always, thank you all.
Kam

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Discussion Starter · #2 · Apr 8, 2005

Re: Decision time..Sell my 998 now or ride the rough seas for a wh ... (kam1996)

If it was just you...I'd say suffer and keep the bike. But...

Since you have a wife (and perhaps children)...I don't care how nice the bike looks...they would have to come first (if it was me). And it would still be tough for me to part with the bike as well...but it would be the right thing to do.

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Discussion Starter · #3 · Apr 8, 2005

Re: Decision time..Sell my 998 now or ride the rough seas for a wh ... (kam1996)

Sounds like you need to do everything you can to keep it!!!!

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Discussion Starter · #4 · Apr 8, 2005

Re: Decision time..Sell my 998 now or ride the rough seas for a wh ... (superbike2001)

GREAT!!!..1 Vote for each way...

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Discussion Starter · #5 · Apr 8, 2005

Re: Decision time..Sell my 998 now or ride the rough seas for a wh ... (kam1996)

You can buy a 998 anywhere. There are many for sale. In the bay area I saw like 5 for sale with less than 2000 miles.

I would sale it. Safe some money and buy another one later on. You may be abel to even buy a 998 FE

.

You don't have to buy a warranty from Ducati. You can buy the warranty from McGraw. I have that, and they are good. I paid $495.00 for 2 yrs, and my motor blew up and cost $4300.00 bucks to fix. They had it fixed in 2 weeks no questions asked.

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Discussion Starter · #6 · Apr 8, 2005

Re: Decision time..Sell my 998 now or ride the rough seas for a wh ... (kam1996)

i'd do everything i could to keep it. if it meant losing my house, wife, or kid... i'd kiss her good-bye. luckily i dont have a wife or a kid

shouldn't this be a pole?

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Discussion Starter · #7 · Apr 8, 2005

Re: Decision time..Sell my 998 now or ride the rough seas for a wh ... (gtoast)

If you have any credit card debt at all, it is a no brainer - sell the bike and pay off the cards. Sample math - let's say you still owe $5,000 on the duc. Probably around 8% so that costs you $400 per year. If you sell the bike for, say $9,000 then you pay off revolving credit of 4k at what? 18%? Not sure what the going rate is, but that is $720 per year or so. So, before paying off any principal, gas, tires, repairs, insurance - that is almost $100 per month. And every dollar you save on the 998 is worth another 18% pay down. Unless you get rid of the debts, you can't ever get ahead short of winning the lottery, making a huge pay gain, etc.

Sorry, but nothing is worth paying credit card debt on....The math just doesn't work.

Aaron <U></U>

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Discussion Starter · #8 · Apr 8, 2005

Re: Decision time..Sell my 998 now or ride the rough seas for a wh ... (Racer666)

The debt is going to be more like a newer family car cause the older one is no good..and a new loan for investment/future home land.
THAT said..
What couple of you have said about family coming first really makes sense.
If i know that selling the bike now will benefit my family in any way, now or in the future, then selling is a no brainer..you agree??
OK, so I think its settled..
As much as it going to hurt, and beieve me it WILL..i may actually Cry..
I am going to sell.
Will put it in the Classifieds tonight.
Hoefully one of you guys or your friends will buy it..and find it a good home.
Thank you all...
As always, you have been of great help.

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Discussion Starter · #9 · Apr 8, 2005

Re: Decision time..Sell my 998 now or ride the rough seas for a wh ... (Racer666)

And one more thing - if this is so much on your mind then owning it will be more stressful then selling it. Everytime you ride it you'll worry that something will break, or maybe you drop it. If that happens you could really be between a rock and a hard place - not enough money to repair it, but still making payments. And now you have a bike almost impossible to sell.

As someone said above, you will always be able to find another one equally well cared for. Sorry about a tough situation and I hope it is only temporary.

Aaron

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Discussion Starter · #10 · Apr 8, 2005

Re: Decision time..Sell my 998 now or ride the rough seas for a wh ... (Racer666)

Aaron:

You are right.the more I think and read everyone's feedback the more it makes sense. not that i didnt know AL of this already, i think I just needed some like minded people to TELL it to ME.
thank you all.
Will post it in the classfieds today.

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Discussion Starter · #11 · Apr 8, 2005

Re: Decision time..Sell my 998 now or ride the rough seas for a wh ... (kam1996)

If you keep, and it makes whatever hardship you and your family is going through now harder, it will become a point of contempt between you and your family. For that reason alone it's not worth keeping , IMO.
You'll get another bike someday, believe me. I had to sell my first SS when my mother came down with Cancer. I was utterly crushed. But after a short while, I stopped missing it and went on w/out a bike for close to 5 years. Now I'm back and it's great.
You've owned it, enjoyed it but priorities change and that's life.
You'll come back to another one soon enough.
All the best.
Regards,
Hubert

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Discussion Starter · #12 · Apr 9, 2005

Re: Decision time..Sell my 998 now or ride the rough seas for a wh ... (hubert)

Dude...ur contimplating financial hardship over a luxury item ur still making payments on AND only rode 3100 miles in the first year. Hire a great photographer and spend $100 bucks getting every picture u ever wanted on this bike, and sell it.

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Discussion Starter · #13 · Apr 9, 2005

sell it get the house/land
no brainer

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