Current Market Value

jperkins · Post by **jperkins** » Sun May 25, 2008 1:48 pm

Incase anyone is wondering what the current market value of a Buddy is (according to the insurance industry) here it is.

2007 Buddy 125 W/ Chrome Rack and Topcase (2000 miles)

According to Heartford Insurance- $2150

According to StateFarm Insurance $2500

This was the market value here in the midwest. This number also included tax and registration.

DennisD · Post by **DennisD** » Sun May 25, 2008 2:13 pm

Check the NADA book online for motorcycles/scooters/used. Its a fact that a brand new vehicle (any kind/type) depreciates big time as soon as you drive it off the lot. It is no longer new if it has been registered.

Dennis

MarsR · Post by **MarsR** » Sun May 25, 2008 2:19 pm

I just looked it up on Kelly Blue Book. Here's what I got for my zip code:

Trade-in Value is what consumers can expect to receive from a dealer for a trade-in unit.
2007 Genuine Buddy 125 Value
May 25, 2008
1-Cylinder
4-Stroke
125cc
Trade-In Value (Good Condition) $1300
Trade-in Value is what consumers can expect to receive from a dealer for a trade-in unit assuming an accurate appraisal of condition. This value will likely be less than you would receive from a private party sale because the reselling dealer incurs the cost of safety inspections, reconditioning and other costs of doing business. Trade-in values are based on clean units in good condition, with all original standard equipment. Mileage/condition and additional equipment may have a substantial impact on the value shown above.

The Kelley Blue Book Suggested Retail Value is representative of dealers' asking prices for a used unit in excellent condition.
2007 Genuine Buddy 125 Value
May 25, 2008
1-Cylinder
4-Stroke
125cc
Suggested Retail Value (Excellent Condition) $1970
The Kelley Blue Book Suggested Retail Value is representative of dealers' asking prices and is the starting point for negotiation between a consumer and a dealer. This Suggested Retail Value assumes that the unit has been fully reconditioned and is in excellent condition. Mileage/condition and additional equipment may have a substantial impact on the value shown above. This value also takes into account the dealers' profit, costs for advertising, sales commissions and other costs of doing business. The final sale price will likely be less depending on the unit's actual condition, popularity, type of warranty offered and local market conditions.

MarsR · Post by **MarsR** » Sun May 25, 2008 2:30 pm

I would suggest the the KBB prices shown above are a little low based on current popularity alone. They don't even suggest prices for the Buddy on the NADA site.

DennisD · Post by **DennisD** » Sun May 25, 2008 2:41 pm

The TRUE market value is determined by what price the buyer and seller agree.

There are quite a few dealers I have seen with prices on their vehicles several hundred dollars ABOVE MSRP. No, it doesn't include tax, tag, transportation or dealer prep and that mysterious "administrative fee". Yes, they do charge it and get it - when they can. In today's hot scooter market, there aren't a lot of really good deals. However, with the internet and more informed consumers, dealers are finding more people haggling over their inflated prices. Yes, dealers have to pay the bills and make a profit, but do your homework before you buy.
The lucky buyers are those with competing dealers within reasonable distance of one another. When I bought my Vino 125 I travelled a few miles and bought from an out of state dealer who charged me no dealer prep, no transportation charges, no documentation/handling fee. Simply the price we agreed on, nothing more. I paid the taxes and license when I returned to my state. It was somewhat of a hassle, but with increasing prices at one dealer and not the other, I will look at my next purchase carefully.

Do your homework and remember that patience is key. He with the most time wins.

Dennis

Dooglas · Post by **Dooglas** » Sun May 25, 2008 5:44 pm

MarsR wrote:I would suggest the the KBB prices shown above are a little low based on current popularity alone. They don't even suggest prices for the Buddy on the NADA site.

I have noticed before that Buddy retail values in KBB, etc seem to run below actual market (who wouldn't snap up a low mileage 2007 Buddy in excellent condition for under 2 grand!). That is true in spades for late model Vespas as well. The problem is that these values are actually used by insurance companies when your scoot goes up in smoke.

jperkins · Post by **jperkins** » Sun May 25, 2008 6:38 pm

In my case the insurance company could did not use NADA or KBB. the buddy does not have the quanity on the market or the longevity for those two services to be used.

Instead the insurance commpany contacted dealers and also looked at used prices on places like craigs's list. That is how they came up with thier numbers.

I thought state farms price was fair.