Fair price for '02 GS500

[Fint]

I've never owned a bike before, but have about 200 miles on my father's Buell S1 White Lightning, and now I want a bike of my own; as such, I'm looking very hard at the GS500E (as a nice starter bike with some power to spare)

Kelly Blue Book suggests an '02 GS500 should be worth about $2700 (Nada says $2,910), but all the GS500's I can find at cycletrader.com are more like $3400 to $3800 (30% is a big difference). Is this just people asking high but will take low, or are mid 3's more reasonable?

Also, from what I can find, a stock GS500 will make about 40hp; how many more ponies can be expected after a new air filter, exhaust, and re-jetting?

[RodKu]

Probably the wrong forum but I just traded my 04 GS500F in at Suzuki of Sarasota.  Yellow, perfect condition, 5000 miles.  Retail is 4200.  It's still under warranty.  I have no idea what they are asking for it.

I now own an 05 V-Strom 650.  What a nice motorcycle.

Had it not been for the reliablility of that GS 500F, I would never have considered an upgrade.

[Dom]

I think around 5hp.  I don't know if that number includes an ignition advancement or not.

[juggernaught]

Fint...call me crazy but i sold my '02 GS with full V+H system, Pirelli sport demons, Napolean mirrors...etc...on Ebay for about 2K.  Now if your gonna spend over 3K on a used bike you could easily get  something larger than a GS...not to say thats what your looking for.  But...i don't think you need to spend that kind of money on an '02.
My 2 cents.... :dunno:

[Mk1inCali]

A member here who shall remain nameless for many reasons bought his '01 with ~11K miles on it, had rejet kit, ignition advancer, Jardine exhaust, pod filters, all the stock parts, aftermarket bars, Kevlar clutch, aftermarket rear-sets (CFM), a spare rear wheel, it was dyno tuned and with two incomplete GSXR shocks for 2300 bucks.  Don't spend over 3K on an 02.  You'll lose way too much money riding it for a couple years.  Don't be afraid of high miles, either.  If you do a valve check when you buy it, make sure it's got good brakes and tires, along with changing the oil and brake fluids, you are almost gauranteed a great bike unless it has been thrashed horrendously and at that point, it should be very obvious that it's destined for the scrap yard.

[Fint]

hey juggernaught, do you have another just like that which you want to sell?  

$2300 sounds much nicer than $3800, especially for a bike that I'm likely to drop at least once (a month). My dad is trying to talk me into the SV650, but I'm trying to resist.

Thanks for the answers.

[luksi]

I bought my 02 for $2600 last year about this time.  It was all stock.

[mp183]

My dad is trying to talk me into the SV650, but I'm trying to resist.

The SV650 is a handful.
Tell your dad that this dad (me) said it's best you learn on a GS for a year or two.  It's better to loose money than your limbs or your life.
Good Luck

[The Antibody]

Flint, my bro laid down his 01 on a deer. It sucked a bunch. He killed the little bastard though. Anyway, he is looking to sell. It needs a bit of work, but its a GS. He is considering getting it fixed and then selling it as well. Very very low miles. under 1000 I think. I'm in PA though. PM me if you want. Its a wize decision to go with a 500. You seem to have a good head, don't let people talk you into something your not comfortable with. I personally could have upgraded years ago, but I don't feel the need for the extra horsepower, or the insurance. I merely ride for fun.(and a sunny day helps)

 -Anti  

[LEVO]

Paid stock 02 with 1400 miles $2700.

[coll0412]

Heck I bought my '99 with 2000 miles for $2000, dollar per mile and you cant go wrong.

[Fint]

Thanks to everyone for the replies. If I can find a nice GS for less than $2500 (close to Florida), I think I'll be set.

[temptress]

I just bought my 2000 gs500e from a dealer in Tampa for 1900 it only had 1400 miles on it and it is in excellent condition

[Fint]

wow, that sounds much more resonable... what dealer was that, and did they have any more like that?  

[temptress]

They did not have anymore 500's.

[milo]

Last year I bought my 01 with 3500 miles for $3,000, so I think about that much for an 02 this year isn't too bad, although now it's winter already, so maybe it should be a little lower.

A little above bluebook? Maybe. Maybe for that money or a little bit more I could have gotten something more powerful, but the fact is I didn't want something more powerful. It was my first bike, and what I wanted was a healthy GS500. So I was willing to pay more for less, so to speak.

Try haggling, maybe people will come down on the price.

Off topic, the DL650 looks like a great bike -- if they made a naked version I'd make it my second bike in a heartbeat. (Tho maybe that's what the SV is...)

[Eisenfaust]

I bnougt my 91 for a touch over a grand. Of course, running bikes, especially newbie friendly ones, dont go for less than a grand in SF. So many people here ride, its not even funny. I've never seen a working GS go for less than 1000 bucks here in the city.

Of course.. an 02 is a totally different thing.

[ghettorigged]

Fint, keep shopping around and a deal will pop up. It took me a while, but I found a nice '98 GS for a bargain price and have enjoyed it thoroughly.

Don't go with the SV, as others have said. It's best to start off with something more fogiving and less likely to make you cry when you drop it.  

good luck with your search and just be patient!