What to do with a high mileage 2003 FJR ?

[wfooshee]

Dayum. Guess I'll have to stick with my own 2003!

 

[FJRMGM]

I can relate to this topic... My ;05 FJR with 115,000 miles still runs like a champ, pulls like a freight train and looks good.

I walked into several dealers in this area to look at new bikes and they all started with "hey, bring your bike in and lets trade"... so I reply "what will you give me for a 12 y.o, bike with 115k miles on trade?"

after they get done rolling their eyes, shaking their head and saying "we don't get many bikes with that mileage", I say "I figured as much",,, and the trade talk is all over.....

I want to downsize and get something smaller like an FZ/MT-07 or FZ09 but have i need to sell my FJR first..

good luck with your trusty steed...

 

[GDSFJR03]

From A guy that had 3 in the garage until last summer. Two 03 FJR's and a wing. The advantage of walking out to the garage on a Sunday morning and playing eny meanie miny moe was over ridden with the silly cost of insuring 3 bikes.

Spread the word amongst your riding partners and I'm sure they can find someone short on dough but have the urge to ride.

I sold one of the FJR's to a young man from out of country that wanted to tour North America on the cheap.

His father did the inspection and purchase for him before he arrived.

A few months later he sent me an email extolling the virtues of a good long distance tourer.

I was glad that I could make someone else happy.

The father admitted after letting it go to his son that he had a hard time giving it up.

Think a made two converts from their previous rides.

Now I can afford the insurance on the other two and guess what..... The FJR has more miles on it than the wing. Much to the dismay of the S/O.

It never ends, cause now I am starting to ignore the urge to step into the dealers shop once again.

 

[allrider]

Put knobbies on it and turn it into an adventure bike!

 

[Knifemaker]

I'll go $175.50 for it.

The question is do you need the money? It might go another 80,000 miles or may blow up tomorrow.

If you bought a new one, I vote for a Viking Funeral... set it on fire and roll it into the sea ....

 

[David Morrow]

The question is do you need the money? It might go another 80,000 miles or may blow up tomorrow.

That was my thinking too so I bought a new one. The 2003 sure didn't owe me anything.

 

[FJRAust]

I wouldn't mind a trip to the US.. I'm just trying to figure out how I can ride it back to Sydney..

OH bugger I live on an island..

 

[El Guapo Loco]

I seem to remember if you donate a vehicle to a charity you can take a tax deduction equal to the new price of said vehicle. But that just might get you audited...

 

[David Morrow]

I seem to remember if you donate a vehicle to a charity you can take a tax deduction equal to the new price of said vehicle. But that just might get you audited...

I'm from Canada but I expect the same or similar rules to ours apply in the States. That is, the tax receipt would be provided based on the fair market value of the property donated. In my case, the old FJR is worth about $2,000. It will be up the the Barber Museum to provide a value and the receipt. A donation in kind ( ie, a non-cash donation) can be an issue as the value can be very subjective. The donor wants a high value but the recipient / receipt issuer, has to be careful because if they sign off on too high of a value, their tax authorities can, and often will, creates major problems for them. There have been no end of tax scam relating to donated property. And, if I recall my old tax training, a Canadian may claim a receipt to a U.S. charity but it can only be applied against U.S. income.

David Morrow, CPA, CGA

 

[Harald]

I seem to remember if you donate a vehicle to a charity you can take a tax deduction equal to the new price of said vehicle. But that just might get you audited...

With the new tax laws in effect for 2018 (standard deduction doubled), most people won't be able to itemize their deductions so no point in even getting a receipt for the donated bike.

 

[David Morrow]

IRS Publication 526, Page 7 : Contributions of Property : If you contribute property to a qualified organization, the amount of your charitable contribution is generally the fair market value of the property at the time of the contribution.

I did an IRS search and the Barber Museum appears to be eligible to issue tax receipts.

https://apps.irs.gov/app/eos/displayAll.do?dispatchMethod=displayAllInfo&Id=773382&ein=631125485&country=US&deductibility=all&dispatchMethod=searchAll&isDescending=false&city=&ein1=&postDateFrom=&exemptTypeCode=al&submitName=Search&sortColumn=orgName&totalResults=8&names=Barber&resultsPerPage=25&indexOfFirstRow=0&postDateTo=&state=AL