get wot you can, keep the sporty, make it in to a bobber sorted,

 

That's pretty much where I was going. Ask for a fair and reasonable settlement, and be done with it.

When I had my wreck in '88, it was with a city vehicle. The Navy covered my medical. I called the city and asked them to cover blue book value on my bike (about $1,100). They told me they didn't have insurance and said I had to sue them to get paid - that was how their policy. To make a long story short, I hired a local lawyer. He wanted to go for something like $60,000. Over a year later, I meet with him the morning we are finally to go to court, to find he's done absolutely nothing. I help him with some research, and we go to court. To screw my lawyer, when I was on the stand being question by their lawyer, I told him I just wanted the $1,100 to cover my bike, and now, enough so after my lawyer took his third, I'd end up with my $1,100. That was exactly what the jury awarded me - and my lawyer was pissed about it. Screw him. He was worthless.

 

Good for you...There is hope for this species called humans after all...

 

Well I had an appointment with an injury attorney this afternoon and learned a few things :

- As mentioned in an earlier post, I learned that the insurance figure for a totalled bike isn't really negotiable. They have done their homework and made an offer. I stopped by the dealership where I bought my bike originally and told them what the offer was. They said it was more than fair. On a trade in most folks get about 10% of the cost of the add-ons, they were giving me about $1500, or more than 50%.

- The attorney suggested I have an MRI to check for possible problems that could have been missed in the ER or at the family doctor. We'll monitor my physical condition and deal with both involved insurance companies. I agree on this point...I don't want to have some surprise a few weeks or months down the road that a little preventative care and some testing may have avoided. He won't get involved in the material damages (bike) though he would offer advice if needed since they're not really negotiable as mentioned earlier.

- The attorney gets paid nothing unless there's a settlement. The settlement discussions will take place when no more medical attention or doctor visits are necessary. He will then contact the ins co with a figure and negotiate. This could take as long as 18 months, but it could be a lot quicker. He will receive 33% for an out of court settlement, 40% if it goes to court. I'm definitely not going to commit fraud for any financial gain. I just want to be sure everything is OK and my future health isn't at risk. I've had no back injuries in my past and have a pretty uneventful medical history. I don't want to start one now!!

- The attorney also advised me to check my insurance policies for underinsured/uninsured drivers and see if they were stacked with my other vehicle policies (the cars are stacked, the bike isn't). Stacking allows you to increase the maximum amounts of coverage by a factor of the number of vehicles insured in the event of a claim. For example, I have 50K - 100K insurance on each of the vehicles I own, 2 cages and 1 bike. I can receive a max of $50k on the bike policy if I'm injured since it isn't stacked with the other policies. If I were injured in either of the cages, I can get $100k because they're stacked ($50k x 2 - $100k). If all three are stacked, the coverage on the bike policy would be $50k x 3 = $ 150k. Good to know!!

- He also advised me to check on the limitations of the policy for medical expenses allowed. The amount on the bike policy is quite a bit lower than those of the cages. I may want to change my policies after some review. I believe the medical coverage on the bike should exceed that on the cages since the risk of bodily injury is so much greater.

- In response to some replies insinuating that I'm looking for a "payday" -- I'm not... I had a bike that I invested a lot of time and money into (as many of you on the forum have also) and it was taken from me by someone else. I want a fair settlement, but I see no harm in looking for a bit of a "silver lining" in this cloud. After all, I was not at fault in any way for what happened. I don't expect a new (more expensive) ride and $50k for my trouble, just a fair settlement.

All that being said, while I was at the stealership I asked them for some quick numbers on a Dyna model. I figured I would accept the insurance offer to total the bike, pay off the loan and use the remainer (just under $4k) as a down payment on a new bike. Basically I was told I could purchase a new Dyna Super Glide Custom and come out of the deal with a payment only about $30 a month more than what the Sporty payment was. Of course, I'm starting with a new loan and more payments, but I'd also have a new bike whereas the Sporty was used.

Then again, with the current state of the economy and slumping sales combined with the upcoming winter season, I could wait for a low mileage trade or an dealer incentive at a lower monthly payment...I could also consider buying back the Sporty as a project bike and use the balance as a down payment on a new ride...So many options!!!

I'll keep you posted...
-

 

per your latest post, you could also find a low mile used one somewhere, and flip it through a dealer

in other words, you want to finance it, you agree on a price w/ a private seller, you go to the dealer and say i want to buy this bike, they buy it, and sell it to you, which allows you to finance it, but theoretically not pay dealer price for it...

think you have to pay say $500 to the dealer, which should include a basic service and inspection on the bike, for their trouble

just thinking out loud, YMMV

 

Good idea Karz, but I'd probably deal with the seller one-on-one. I have very good credit and financed my Sporty thru my credit union at an interest rate the dealer couldn't match. I'll take my time and sort thru the options. There are some good deals on eBay for Dynas, so I'll be keeping an eye out there also, but I want it to be somewhat close to where I live.
I wouldn't buy something this big without checking it out in person.

BTW I purchased my Sporty thru an eBay auction posted by the dealership. Sometimes when they're trying to move inventory they post on eBay. Like I said before - I've got time.....

 

As I mentioned earlier, the property damage is handled seperately from any bodily injury and usually it's not negotiable if the offer is reasonable. According to the dealership I spoke with, the amount being offered is pretty good in their opinion.

So I decided to call the ins adjuster to see what the buyback amount would be for the bike. The number he gave me was what would be left after the loan was paid off...So in effect I would have an 'R' titled bike, paid for, with only a couple of hundred dollars to begin the repairs which were estimated at over $3600. No thanks. I simply don't have the time and disposable income to dedicate to a project like this. I purchased property this spring and am planning to clear it and begin building in the next year or so. So convincing the wife that ANY settlement money should be spent on a bike is going to be difficult.

I think I may total it out, pay off the loan and take the balance as a down payment on a new ride. It seems like the only reasonable thing to do. I know I could haggle with the ins adjuster to get a lower buyback price, but I've been told the amount they're offering is pretty good.

 

Update--

Found a local ad for a used '06 Street Bob in Denim Black, 1300 miles. The owner just had a child and decided to sell. The bike was dropped by his wife and suffered some damage - he said he replaced the tank and there are a couple of small scrapes on the pipes,etc. He's gonna email me some pictures. Otherwise it's all stock. I asked if he could check with the dealership and see if the 1K maintenance was included when he bought the bike since it hasn't been done yet.

He said with the new family and work he simply doesn't have a lot of time to ride. He had been using the bike to commute to work and take the occasional weekend ride. He is asking for $9500. I will have about $3500 after my settlement and the ability to finance the bike at 5.49% for the length of the loan thru my credit union. Maybe I can work a deal with the cash to lower the price a bit.

I expect that I'll be riding solo most of the time anyway since my wife and daughter aren't very enthusiastic after my accident. Anyway, I would probably add a QD luggage rack to strap a bag to and eventually a passenger pillion and QD backrest.

To sum it all up, I can end up with an '06 Street Bob which is virtually brand new at a better interest rate and lower loan payment than I had on my '05 XL1200C. What do you think of this deal???