Valueing your bike for a Carnet. How low can ya go ??
 

I'm in the process of applying for a carnet. I need an 800% bond for Egypt :censored:.

Well, I payed £1600 for my 2003 DRZ400S and probably spent another £500 on it.

Realistically my bike is worth £2000 on the market but Parkers value it as low as £1035 for a poor condition model.

I suppose I could argue that my mods have ruined its value which is has in a dealers eyes I guess.

So... just how low can I go with valuing my bike ?? Do they really check ? Can I put something cheeky like £800 ??

Ta, Ted

carnet
 

is far as i know the mods have nothing to do with the value of the car/bike .when i was planning my trip last year i spoke to Paul on the phone and he was happy for me to go as low as 800 pound on my 2003 xt600e i told him i paid 1200 and that the bike was going to get a pasting in mongolia/russia before i was going to need to get a carnet.

I asked the same question to PG @ the RAC re the purchasing of a carnet and using a really cheap old bike-
The response was that if the bike is valued too cheaply aka less than £1500 ish the underwriters would not be interested due to the small premium.

Just a thought- (and no telling porkies:nono: Mr Ted!):smiliex:

Well, Parkers seem to think my bike is worth £1000 so who am I to argue.

I'm going to try and go down the bank guarantee avenue.

I went to Barclays Bank yesterday. They charge 1.5% of the bond plus £25 for a guarantee.

It works out about £250 cheaper than the insurance policy from a £10,000 bond (Egypt is a tw*t).

In 1999 the AA accepted the valuation of £700 for my 1989 BMW r100gs for carnet purposes. A bike with 230 or 130.000 miles on the clock is worth less than a bike with 30.000 miles (the odometer only had 5 digits)... The bike was imported from Germany so there were no old MOTs for any audit trail :oops2:

Good luck,
Chris
PS. However, you might struggle to convince someone that a 6 or 7 year old 400cc single will have done over 100k miles ;)

Hmm. nice point... My bike has an IMO so mileage is adjustable (6 digits), but it already has 220kkm.