Financing a track only bike

TMR

New Member
Last spring I purchased a '08 YZF-R6. I am financing it and as a result, I have to carry full insurance. Rates are actually very good with State Farm Insurance. Anyway, I think I am interested in just doing track days and giving up riding on the road altogether. I have considered selling to get a cheeper dedicated track bike, but the R6 is the bike I want to progress on.

Do others finance bikes and end up making them dedicated track bikes?
 

avizpls

#11-A
Im sure people do it. It wouldnt really be a bummer unless the unspeakable happened, but I guess thats why you're asking. And since you're asking, I guess you must be hesitant to risk it. I would be too, and I dont think I would track a bike I am financing.

But again, Im sure many people do. just not me.
 

Burnall4

New Member
sell it, and buy a track only bike, you can pick up some good ones for cheap on here or wera forums

my.02
 

dogger

New Member
Check with your insurance. My insurance covered the bike when my stepson wrecked on the track. I've asked my agent and he says the bike is covered on the track in non-competitive events. Allstate.
 

RICKYROADRACER

New Member
My insurance covers my R1 because it's not a race. In 06 I also had to have full coverage for the loan, but after my first trackday it went full track R1. Street just wasn't fun after that. Three years later and one claim I still have coverage and extended warranty, works for me!! Good Luck.
 

darth nater

Staff member
Control Rider
N2
I have no comment for insurance, but I never finance any vehicle much less a track bike which falls in the toy category. I would sell it and buy a cheaper one already setup for the track outright with cash. Just my .02.
 

1literduceater

New Member
dark nater;48102 wrote: I have no comment for insurance, but I never finance any vehicle much less a track bike which falls in the toy category. I would sell it and buy a cheaper one already setup for the track outright with cash. Just my .02.


Cant agree more.
 

Poper

Member
It may be hard letting the pretty R6 go, but she is going to get dinged up on the track. I tracked out a new 600RR after being a streetbike and wish I had done it differently. Sell the R6 and buy a ready-to-crash trackbike.
 

749scott

New Member
My 06 R6 is fully tracked out and has a small lien on it because of the lack of hours at work but the strong desire to be on the track, so it has to be fully insured. I’m through Foremost and they too said that as long as it is not a race it is covered. They considered track days to be an educational touring event. Trust me as soon as the lien is paid off I’m dumping the insurance but in the mean time it is peace of mind. Just my 2 cents!! :popcorn:
 

Blaise

New Member
Insurance should cover it if you wreck it up. However, if you're not equipped to buy the bike outright, you're probably better off selling it and getting something less expensive. My bike may be old and crappy looking, but I can go to each track day knowing that I can afford to total it.

Besides, no insurance bill pays for more tracktime :)
 

xlink

New Member
Blaise;48113 wrote: you're probably better off selling it and getting something less expensive.
Not only less expensice but usually better. there are so many amazing track bike deals now - bikes with upgraded suspension, brakes and accesoaries. If you track your street bike, it will not be long before you start putting money into it - shock, brakes, forks, ... why not buy something that is set up already.
 

TMR

New Member
I did not by the R6 with the intention of just doing track days. Or buying it to finance just for that purpose. It is just what it has become. This happened years ago after my first track days too. After doing a few track days, street riding lost its appeal. I had a much cheaper bike back then though.

I have started thinking where I would I get more riding enjoyment from on a bike I really like. If I sold it to get a track only bike, I would be upside down on the loan to value and still have to purchase a different bike. So, it is cheaper for me to keep what I have. If I sold my '08 R6, I would buy another R6 for a track bike anyway. I know there are other options out there, but I really like the R6.

The insurance really isn't an issue. I do not have a ton of money but I can easily afford the bike and insurance payments.

The I am looking at it is, I will most likely be in the "B" group for 2 or 3 years. Sure, a crash is still possible at that pace but, I don't know that I will be pushing too terribly hard in that group on a bike I owe a lot of money on. However, at around the time that I might progress up to one of the faster groups, my bike should be paid off.

So, I guess I know what my decision is.

I was just curious if other people end up doing this.
 

stephenjpauls

New Member
Tim,

It sounds like you have your mind made up. I too was going to suggest getting a track bike. As it looks like your not going to work with your insurance agent to ensure that they will cover your bike if you wreck it on the track. Nothing would suck more than to have to pay off a bike that you can't ride anymore.


TMR;48140 wrote: The I am looking at it is, I will most likely be in the "B" group for 2 or 3 years. Sure, a crash is still possible at that pace but, I don't know that I will be pushing too terribly hard in that group on a bike I owe a lot of money on. However, at around the time that I might progress up to one of the faster groups, my bike should be paid off.
If you find yourself worrying about the bike on the track, thats not a good thing. I take it very easy on the track because I want to learn more than I want to go fast. However on the track I won't let myself worry about wrecking, there are too many other things to be working on out there. Oh, and at an easy pace I dumped my bike this last weekend due to a stupid error (cold tires, cold track). As its a track bike with a rattle can paint job Its only going to cost me $70 to get the bike back where I want it to be. If it was my street bike would have cost $1000s to get the tank, plastics, rearset, brake lever, muffler etc. My track bike, $4 for 2 cans of spray paint, new brake lever, new frame slider DONE.
 

Blaise

New Member
TMR;48140 wrote: I did not by the R6 with the intention of just doing track days. Or buying it to finance just for that purpose. It is just what it has become. This happened years ago after my first track days too. After doing a few track days, street riding lost its appeal. I had a much cheaper bike back then though.

I have started thinking where I would I get more riding enjoyment from on a bike I really like. If I sold it to get a track only bike, I would be upside down on the loan to value and still have to purchase a different bike. So, it is cheaper for me to keep what I have. If I sold my '08 R6, I would buy another R6 for a track bike anyway. I know there are other options out there, but I really like the R6.

The insurance really isn't an issue. I do not have a ton of money but I can easily afford the bike and insurance payments.

The I am looking at it is, I will most likely be in the "B" group for 2 or 3 years. Sure, a crash is still possible at that pace but, I don't know that I will be pushing too terribly hard in that group on a bike I owe a lot of money on. However, at around the time that I might progress up to one of the faster groups, my bike should be paid off.

So, I guess I know what my decision is.

I was just curious if other people end up doing this.

OK, lets say you sell your R6 for $5k. Yes, you're upside down in it, but nothing will change that, you'll have to pay up eventually. Then you buy a trackbike for $5k with upgraded suspension, race glass, etc.

One minor lowside on your streetbike and you're out 2-3k (or more) in headlights, street plastics, etc. You might even dent your tank. Now you're REALLY upside down on a streetbike you will have a REALLY hard time selling.

One minor lowside on your racebike, you pick it up, retech, go back out, and ignore the scratches. When you wanna sell it nobody will care if its been down a few times.

It's really your decision, but going out there and riding a bike on a RACETRACK means having fun and riding it fast. Not riding slow to make sure you don't crash it. Heck, you could sell the bike, take a year or two off, and then come back once you have money saved up. This is a hobby... and just a hobby. Hobbies are things you spend your extra money on, not go into debt over.

I basically purchased a streetbike last year to ride at trackdays and I feel it was a mistake. By the time I invested into race glass, clip ons, rearsets, and a full suspension build, I could have bought a nice 02-03 600 with everything already done. :doh:
 

rk97

Member
I don't say this too often, but I agree with Blaise! :D (just messing with ya Blaise)

being upside-down on your loan is probably cheaper than trying to upgrade a street bike to track trim.

It sounds like you're at the point Poper was a year and a half ago - brand new bike, and decided to go track only. If you plan to keep track riding for 2-3 years as you say, he's about 2 years in, and you can see his take on it...

I would at least put the R6 on Craigslist and see what kind of offers you get. Put it on the classifieds here and ask if anyone is looking to trade their track bike + cash.

WERA board might also serve you well, since your bike still qualifies for contingency money. I loved the R6 i rode at the demo, but let's be honest - none of us are going to be limited by ANY modern sportbike.

the major features that define a 'modern' bike (in my opinion) are fuel injection and inverted forks. Everythign else should be upgraded on a trackbike anyway...

Burrito's 2004 GSXR 600 is an absolute STEAL at $3900 (if he still has it). all you'd need is a few hundred bucks into new springs (unless you're 150 lbs, like him).




...or just ride the wheels off your stock R6 - stock 2008 suspension is probably better than fully upgraded 1993 suspension anyway!
 

Chad Dupree

New Member
Just my 2 cents.......don't put a bike on the track unless your prepared to crash it and put it in the dumpster.
Now I'm not saying not to ride a financed bike on the track, just be ready if you crash it hard.

Look at it this way. Unless you have a very very easy crash on the track, it's easy to total a bike from the insurance company stand point. With the high cost of street plastics and OEM parts, it you even dent the frame or have a slight bend in the forks or rims, I think the insurance will total it.

It's easier for the insurance company to total a bike vs to spend a few thousand dollars to fix it. I've seen crashed bike's that were totaled by the insurance company, but if you look at the bike from a racer/race bike, it would be way far from being totaled.

again just my 2 cents
 

Jeff H

Member
breaker;48159 wrote: i am an agent for SF and SF will cover the bike as long as its a non competitive race :)
Are you sure??? The list of exclusions I received with my last renewal (this is for my car-no ins. on the track bike) said if it happens on a track for any reason....even non competitive that you are not covered. I believe this is fairly recent...last 6mos or so.

It peaked my interest since I do driving events with the Audi club, now I am not covered if I wreck my S4 at the track.
 
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