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Check out craigslist in your area, see what a V-Star 250cc is going for in your area. Here in Pittsburgh, There is a 2009 V-Star 250cc with 800 miles, new condition with a few accessories. Asking $1900. Blue book values are sometimes way off, I think they are pretty close with your V-Star.
I wouldn't be afraid to try negotiating further with the dealership, just be careful of all the math that gets thrown around. From what you've said, the deal you've been offered isn't too bad in your situation (close to winter, having a bike without a title that isn't paid off and owing more than its worth).
It would be ideal to pay the bike off so you would have the title, then wait until spring to sell when income tax returns come in. Take the $1000. loss, but go into the dealership with a stronger hand.
 

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I was quoted 6,125.00 guve or take 40 dollars from several dealers. This is retail plus tax, prep, dmv fees in NY. 6,400.00 otd while being 1,000.00 in the hole on your trade is well below retail. As l said, good deal.
 

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It's a good deal for the bike...but not for you financially. Owing 6400 on a bike that costs 4900 isn't great so make sure that you have gap insurance to cover the loan in case something happens.
 

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Discussion Starter · #26 ·
Plus, I've got some extra income thats going to start coming in in january. So I'm planning on using that to pay off the loan over the next year.
 

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OP is only upside down if he trades it in.

Low retail is $2475 and average retail is $3255 (per NADA book, which is what almost all dealers use because that's the book the banks use for determining loan values. I've bought a lot of bikes from a lot of different dealers over the years ...37 and counting...and I've never come across one that uses the Kelley Blue Book).

OP should be able to get $2800-$3000 by selling it himself if he's patient and then he can wait for a 2016 R3. With the riding season pretty much over, that seems like the smart thing to do. By the time it sells the loan on the Virago will be paid down some more, or paid off, too.

That way he can go into a dealership next Spring and only have to deal with one set of #'s for the purchase, minimizing the grief involved.
 

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I'm paying this R3 off in 6 Months @ 1299.90 per month. I can really enjoy the Bike Now. I'm not worrying about the Money. The Enjoyment of the bike is well worth it. If in the future I decide to trade up for more power I will have the pink slip. I'm really enjoying this light bike, just going to keep it and enjoy the Zen bike rides away from the wife and kids.
PS there's a min payment of $78.00 per month on my bill. and a beware if I pay the minimum. I will pay over $19,000 in interest. And I'll be dead from old age or in a retirement home.
you can actually do your minimum 78 til 6month's payment and throw them all the remaining and still remain interest free
i was planning on buying it in cash and they offered me 6months interest free for that
I just have the money to sit in my bank instead for.......0.1% interest lol. but i got the money in my pocket if i need it
 

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Discussion Starter · #31 ·
I found a local dealer with no freight etc fees so I'm going to see what they would give me for the v star before I make a decision
 

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I think it's good you are slowing down a bit and not jumping on the first opportunity that comes up. It will pay off in the end whichever what you choose though imo. Only you know what is truly the right choice.
 

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Discussion Starter · #33 ·
Thank you! I agree, my biggest question right now is if I should wait for the 2016 models. Im hesitant simply because I don't want my current bike to depreciate anymore
 

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You aren't going to have much depreciation in 4-5 months.

Only difference between 2015 and 2016 bikes will be the colors. You might even get lucky and find a 2015 model sitting somewhere, if you are willing to drive.

Take your time. It is easier for you to sit on your bike and be patient than to rush into a deal. Especially if your riding season is over with. While the dealer is going to have to pay showroom space for keeping that R3. Remember, they are making more R3s everyday so no need to rush.
 

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I have been quoted at $6400 OTD while trading in my V star 250 2013 with 7xxxx miles on it for $2700 while I owe $2800 on it. Blue book value is around $1800. Is it worth it to get the r3 at that price (only dealership I can find with it in stock)? Ive been riding for 4+ years and have had the v star and ninja 250.
Okay - do the math....They are offering you a negative $100 for your bike. Depending on where you are, and V-Star condition, you may be able to get more than KBB. Here the value is $2600
So $6400 + a negative $100 = $6500 and you are out from under the other bike.
If you make a good deal - such as $5500 OTD, you save $1000. Now if you can sell the V-Star for $2400 (and it would sell here for possibly more than that) you lose $400.
Now put it together - save $1000 and lose $400 - net saving is $600 over the dealer offer.....
 

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"I have a 2009 Yamaha V-Star 250 cc motorcycle that is in like new condition. It only has 778 original miles and is always garage kept. It is my wife's motorcycle and she no longer wants to ride it. It has a windshield, highway/crash bar installed, as well as the optional backrest, cover, and gear bag. These are all accessories that do not come with the bike when purchased new. The bike is a five speed and runs great. The tires and brakes are like new. This bike needs nothing and is ready to ride today. This is your 50 plus mile per gallon transportation."

  • do NOT contact me with unsolicited services or offers
http://youngstown.craigslist.org/mcy/5238294211.html

This V-Star has been on craigslist for a month. Wait until spring, maybe this guy would get $1,900.
 

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Discussion Starter · #39 ·
Thanks for that John, I've been seeing older versions go for about that so maybe with mine being a 2013 it will go for a little bit more

I did find the r3 for around 5000-5200 OTD so I'm going to go to them in the spring and if I haven't been able to sell it by then see what they will take for my bike
 
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