I want to buy this GS500E, but I need some thoughts.

[LY]

Hello everyone, my name is Lance.  I am from  Illinois and I live right by the Misssissippi River.  I have had my eye on a certain 1999 GS500E for a few days now, and after finding this site I just had to ask everyone's opinion about this bike.  A local dealership is selling a 1999 GS500E that has 24.8k miles on it (wow!).  They are asking $2,199 for the bike.  I think that doesn't seem right.  I saw on the for sale message board earlier that someone is selling a 1999 GS500E with only 8k miles on it for a similar price.  That person lives probably 10 hours driving from me and I don't think I could make the trip.  Anyway, more about the bike in question.  Does anyone else think the bike is too pricey for the given mileage?  I see some GSs, even older models, that have less mileage than this one and go for a similar or even cheaper price.  I don't know much about the bike because I had only seen the bike once while at the store to price helmets.  I forgot to mention my other reason for possible having reserves with buying the bike.  I will be going to college after summer 2012. If I buy it now, that gives me probably 8 months to enjoy my bike before hitting the college scene.  I do not know which school I am going to yet, but I do not know if I will A)be able to transport my bike to the school (depending on distance from home B) be able to ride and store a motorcycle wherever I go to school, and C) be able to properly maintain the bike during the school year (lack of tools and a workplace to do so).
Here are some picture of the bike: http://psndealer.com/dealersite/images/sindtmotors/vp1759327_2_large.jpg
                                               http://www.sindtmotors.com/images/sindtmotors/VP1759327_3_large.jpg

Any thoughts on the situation would be much appreciated, thanks
Lance

[tt_four]

It's a good looking bike, but the price is WAY too high. The year of the bike doesn't matter all that much because the bike barely ever changes, and each model it came in lasts for about 10 years, and even any other changes between the 500e and 500f are pretty superficial. Have you checked out craigslist? That same bike on craigslist would probably go for $900-1200 at most. Mine has 16.5k miles and I'm really hoping to squeeze $1500 out of it with brand new tires/oil/brake fluid/valve adjustment.

if you don't have any luck on your local craigslist try searchtempest.com. It lets your search a bigger area. That's how I found my other bike. I had to get a ride 5 hours to pick it up, and ride it back 5 hours, but it's worth it for a good deal.

As far as school... is this your first bike? I stopped riding my old bike when I left for school. I loved it, and at one point even took it with me, but it just wasn't worth the hassle with that much stuff going on. See if you can find something cheap for less than $1000 to ride for the summer, then you can take it to school and not worry about it much, and if you've gotta leave it in your parents garage for a few years it won't just be $2500 wasting away.

[The Buddha]

Over priced, heck its over priced even considering the $4 gal gas.
1500 max, 25K is 1 leg in the grave, especially if it wasn't maintained, and no you cant tell maintenance with pretty looks, my bikes used to look like crap.
OK fine bad example ... but I did drag a GS kicking and screaming to the 50K mark. It looked like crap most of the time. The rest of the time it looked worse.
Cool.
Buddha.

[LY]

I have been riding dirt bikes for years, but this will be my first street bike if I buy one.  Problem around here is, anything that is decent will cost me a pretty penny and anything cheap hardly ever runs well.

[LY]

I could try my hand at haggling with the salesman, what do you think they would lower the price to?  Considering it's a dealership they will be pretty stingy about the price I think.  I could walk in and offer them 1,200 on the spot, but is that a good deal for me?

[LY]

sorry about the incessant posting now I feel like I am just ranting haha. But I have another thought. My dad knows motorcycles well enough too keep it in shap while I'm gone, and if I end up at a decently close school I don't think it would be anything to ride a couple hours home for a weekend to change oil etc

[fraze11]

well considering theres a post on the board from a guy who just bought a new 09 for 2800  yeah...2199 seeems high  :icon_mrgreen

[adidasguy]

Looking at  the logos on t he tank, it has been repainted so I'd wonder what damage it may have had. Could they be charging so much to recoup what  they put into fixing it up?

Dealers are having $1000 discounts so a new 2009 is $3395 plus the extra stuff so basically less than $4000 out the door, zero down and 1.9% financing. (I was just at my dealer picking up some parts for our West Seattle GS500 Club wrench day Saturday)

A really good 1999 should be well under $2000 out the door. You can get really good used bikes for $900-$1200. 2 of my used bikes: Junior was $1100 (and I put about $1000 into giving him a complete red cafe-style make-over) and Trey I just bought for $1000. I did put new tires on, but his were OK just too fat for my preferences.

Tell the dealer that the logo on the tank is wrong - see if they can explain why it was repainted. You can see the original color by looking a few different places. One is inside the gas cap. Another is the underside of the tank because usually that doesn't get painted. Another place is the inside of the tail plastics. I think there should be a logo on the sides of the tail.

Note: The tail fender has been cut off. Bar end weights are missing. How can the exhaust have so much rust while the rest of the bike looks like it was repainted? Is that a Honda wing painted next to the "S" on the tank? Rectangular orange front reflectors are also gone.

Car Fax report? That bike has been rebuilt and modified. $1200 would be a fair price for a non-original bike.

[SAFE-T]

That bike has been rebuilt and modified. $1200 would be a fair price for a non-original bike.

I would keep looking.

[bill14224]

That bike has been rebuilt and modified. $1200 would be a fair price for a non-original bike.

I would keep looking.

I agree.  You can find a handful of folks here who would sell their maintained used bikes for a grand or so at any given time.  The dealer is asking too much.  The only way a GS 500 with that mileage and age is worth that much would be if you knew the previous owner and you knew the engine was rebuilt.  Then fine, two grand, but not if you don't know for sure.

[adidasguy]

The red side tail reflectors are also missing.
With the reflectors gone, it might not meet DOT approval. Now that's a good question to ask the dealer!

I agree with safe-t: keep looking. Then, if you can get it for $1000 or less then OK (and don't let them throw on some absurd "$700 dealer prep") $1000 to $1200 would be a fair price for a probably dropped bike that has been repainted and modified. There's not much difference between a 1989 and a 1999. 24k miles: that's about average for a summer biker putting on 1200 miles a year. Bike mileage is not the same as car mileage. And think about this: nothing wrong with a nice clean 1989 bike but a 1989 car? You're joking!

Run down the list of questions and watch that dealer squirm in his chair. I bet with what everyone here has told you, you could make that dealer pretty red-faced!

[reajcox]

Not just no but hell no. I've got about $1000 in mine...
1993 GS500e

[adidasguy]

Nice 1993! and yea - hell no! Not at their price. See? You CAN buy a lot of bike for $1000!

Here's Trey: 1994 GS500E originally purple and painted Ducati yellow. 14000 miles and only $1000 with a box of extras like extra shock, windshield, spare turn signals, SW Motec engine protector bars (those are about another $200 value).... Here's what he looked like when I bought him last month (OK, changed the seat but he came with the factory gel seat that alone goes for about $200!)

[reajcox]

Thanks I'm awful proud of her.

[LY]

With seeing all of your bikes, how good of shape they are in and what they are worth I almost want to keep looking.  But first, I do want to make a list of questions to ask the dealer
1) I am aware that the tank and sides do not have the original logo, why was it repainted?
2)It is missing its reflectors in both the front and the rear, will it be DOT approved?
3)Ask about exhaust corrosion
4)Modifications?
5)start an offer at 900 or so?  If they still want higher than 1200 after all of that, I will give up on it and keep looking for sure.  In all, I really just want a decent bike that wont break my bank.  The GS500 fits that for me.  I just have to find the right one.

[Toogoofy317]

I bought Flick in 2007 he was 3 y/o then for 2,800 OTD and 5,000 miles on him. At that point in time he was flawless until I dropped him the day I got home but I still luv the little guy!

Mary

[steitsma]

I bought a 93 with 10,000 miles for 300, it needed some carb work since its been sitting forever and the gas tank leaked.  I would lowball an offer and keep looking if they say no. 

[tt_four]

Just look up the NADA value and print it out to take with you. I bet the dealership paid someone way too much for a trade in(they probably didn't take the time to actually look it over like we did to see what kind of shape it was really in) and are now hoping to make some of the money back. If they're lucky they'll get back what they paid for it.