[Double_J]

My father in law has a 2011 Sportsman 500 that he bought new in May or June of 2011. It was bought(financed) for his grandson, under the assumption that his grandson would make the payments. They took there annual trip to HMT that July and on the last day, the kid rolled it down one of the hills and did about $1500 worth of damage, although a majority of it was cosmetic as they were able to drive it back to their lodge after the accident.

Long story short, the kid lost his job shortly after and the in-laws are tired of paying on the quad. While we are at their place for Thanksgiving this year, I want to talk to him about buying it. I plan to offer to finish paying on it and a cash lump sum next summer after it's paid for.

What is a fair overall price to offer? I am thinking $3500 total and taking the total of the payments off that. I figure there is roughly $1250 worth of financing left and will offer $2250 lump sum once the financing is over and the lein is released from it.

Does this seem reasonable? Too low or too high?

 

[LS6rally]

is the bike still damaged? sounds pretty fair. KBB says an 11' 500HO is worth $4520, if repairs are needed 3500 sounds good to me.

 

[defleppardsg]

Might still be too high. I'd offer 3000... Body and plastics are expensive to replace.

 

[5254]

The $3500 seems completely fair!

 

[x93pgtx]

For a machine that has had that much damage, 3500 sounds way too high. You can get a NEW 500ho otd for around 4500-5000.

 

[Double_J]

As far as I am aware, he has all the replacement parts for it. He just hasn't put it back together yet. What worries me is the fact that it has basically sat, with almost no runtime since the summer of 11.

I just figured if I could get it for a good price and help him out at the same time, it would be worth it. I guess I'll talk to him in a couple weeks and go from there! He might want more than what I am willing to pay.

And yeah, the local Polaris dealer has some amazing deals on the 2013 500s that I am sure will only get better as the year goes on, or next year rolls around.

 

[GaleHawkins]

I would say 50% of new would be OK but it is family and your FIL got burned. If it will not hurt you in a real sense do what you want to do. Family as good place to help out. Often in a roll things get damaged like the frame that is not easy to see if not riding it.

 

[Rooskey]

A friend of mine let his neighbor ride his atv. Well he crashed it really bad. His neighbor did the right thing and replaced everything that was broken. They both did a good walk around with a note pad so they could get it right. Well what do you know after he put a few miles on it some other stuff started showing up that was not quite right. Do you get my drift? Cosmetics are only half the battle. I would give him 3 grand max and that would have to include the new parts that he already has.

 

[jgue498]

tempting

While its tempting to get a low mileage '11 (new design) with some damage from a FIL, i would steer clear of damage. If your FIL did not ask you to buy then don't, find another good used one w/low miles (they are out there just have to look hard and be patient) that way if anything goes south there are no family issues... :werd:

 

[Relheok]

Way to high considering there is ALWAYS hidden damage or gremlins after big rolls. I rolled my 450ES and even though it mechanically was "sound" it always steered and felt different. Unless it's a super steal I'd just buy new for $1000 more etc.

 

[MustBeNice]

My opinion..... It's at least worth a talk!!

I wouldn't offer a price, but rather see if he'd like to sell and feel him out or ask him on the price he'd like to see. He may be willing to let it go for less than you are thinking. So he can move out from under it and move it along. I'd offer to at least pay remaining financing ($1200-1300) and the already purchased parts ($1000-1200). I personally wouldn't put more than $2500 into it's "purchase", as you still have alot of "labor" to go to put it back together and work out any bugs. Is it's title still clean or is it listed as a salvage?

Good luck..... it's worth a shot, but don't press the issue if he is reluctant.

What about the grand kid.... how much did he pay? Will he get pissy if you buy or take over?

Family can be a touchy subject, tread lightly!!

 

[GaleHawkins]

Folks most of our life problems stem from two F words. When you mix Family and Financial issues our life problems will most often exponentially increase.

Borrowing money to buy toys is another subject beyond the scope of this thread.

While this sounds like something one would buy from an insurance sale of wrecked vehicles for maybe $1500 this is now a F/F issue.

If I had a FIL making payments on a loan to another family member I would be tempted to make it go away and suggest he not borrow to buy toys for others. Some can slam others for their actions but I can tell you EVERYONE is tempted to spend money to help family members. If that was not the case we would not own one today.

While at an auction it may be a $1500 bike but if the stress could shorten a life or quality of life for a family member I say do what you think best and do not look back at the bad deal you make in a technical sense but what you did for your wife.

This loose/loose deal is not going to get better as I see it but the machine being around is a reminder of failure on several levels. Wishing you the best and I am sure your heart is in the right place.

Just saw MustBeNice post after posting and agree.

 

[MARCPROX]

Got to agree with these guys a new 500 is only $4850 and you can finance up to 72 months 500 sportsmans are great bikes but id part it out or find out if the loan company added insurance on the ride alot of finance companys add total loss insurance to a loan and you didnt even know it was figured in the payment

 

[Rooskey]

Folks most of our life problems stem from two F words. When you mix Family and Financial issues our life problems will most often exponentially increase.

Borrowing money to buy toys is another subject beyond the scope of this thread.

While this sounds like something one would buy from an insurance sale of wrecked vehicles for maybe $1500 this is now a F/F issue.

If I had a FIL making payments on a loan to another family member I would be tempted to make it go away and suggest he not borrow to buy toys for others. Some can slam others for their actions but I can tell you EVERYONE is tempted to spend money to help family members. If that was not the case we would not own one today.

While at an auction it may be a $1500 bike but if the stress could shorten a life or quality of life for a family member I say do what you think best and do not look back at the bad deal you make in a technical sense but what you did for your wife.

This loose/loose deal is not going to get better as I see it but the machine being around is a reminder of failure on several levels. Wishing you the best and I am sure your heart is in the right place.

Just saw MustBeNice post after posting and agree.

The FF can easily turn into the FFF. Aka financial, family, fu?king. Be careful.

 

[MustBeNice]

So.... how did this ever turn out???

 

[Double_J]

Sorry for the delayed reply. My wife, who I had intended to get it for, has no interest in it, so it never even was discussed with the FIL. She says the seat is too wide and the bike is too "manly" for her. She's stuck on something with a narrower seat like the 550s; however, those carry a price tag a lot bigger than we want to spend on squad she would only ride a few times a year. Someone we know mentioned the Yamaha Wolverine and she seems to like the look of those. I found a good deal on an 06 450 4x4, now we just need a day off together to drive 150 miles to go look at it. Not in a huge rush, as our first planned trip to HM isn't until next June.
Just to clear up the confusion, the bike was not salvaged or totaled and is in 100% sound mechanical condition as verified by the Polaris dealer it was purchased from. They took it in after the trip and had it checked out. The cost mentioned earlier was the Polaris dealers price for parts and labor.

 

[Boburk]

How about the 570?

Sean

 

[5254]

Look at the 570.

 

[Double_J]

We've looked at the new 570, as I am about 100% sure that is what I am going to get, unless and unbelievable deal pops up on a 2013 Renegade 500 or Outty 500. She did comment that the seat felt less narrow, but she still didn't like it! For whatever reason, she's really liking the looks of the Wolverine. If their seats are very similar to the 450 utility quads Yamaha offers, I'm sure she'll want to go that route. I really could care less so long as she is out riding with me!

 

[jgue498]

Some women are funny!

Mine mother, sis and gf included, love 'em till the end of time but they have a habit of 'choosing' some item (non-jewelry) based on looks more than form or function. I remember my sis way back in the early 80's choosing a vcr based on whether it had wood grain on it or not, she still picked a good one just on an odd whim. To some degree ya gotta let em run with it but its still funny to me to reflect on it! Enjoy whatever she picks, within reason!! :gruebel: