$250 for a 1984 VF500 Interceptor?? First bike question.

Hello, everyone.

Im looking at getting a bike. Well, I have actually thought about it for a long time, but was scared to get one. I used to race cars, so Im not afraid of power, and I owned a performance shop, so Im mechanically inclined, as well.

Im not looking to go fast. Just something to get around town on, while still having some edge.

Hence, this bike;

Its been in the parking lot of my apartment complex with a flat tire for a while. I left a note, and the owner subsequently called me back.

He stated that he wanted $450 for it. Its a 1984 Honda VF500 Interceptor. V4, ~500cc. I believe it has pgm-fi, and an electric start, to boot. Its been painted this awful orange colour, but I would change that later.

I asked why it wasnt being driven. He had a few reasons:

First and foremost, he has had a knee reconstruction recently (I saw his knee), so he cannot ride a sport bike anymore.

The obvious flat tire (he states that its a slow leak)

and a small fuel leak (although, I saw no fuel leaking at all when I was there)

He came and tried to start it, and we had a nice conversation about the bike and martial arts. lol. Really cool guy. Family man.

Anyway, he tried to start it and it would not start. I smelled gas out of the exhaust, watched him put a fresh battery in it, and watched him put a gallon of gas in it.

It cranked over just fine, I could hear puffs of air coming out of the exhaust, and no engine clanking or knocking. Though, I suspect its a spark issue (just from my experience, thats what it sounded like).

Now, we were talking, and assured me it ran, and said "Ill get my mechanic brother over here soon and you can see it run. He will know whats wrong with it. Then you will want it."

Well, I already want it, because I do not mind working on a bike. I have a massive amount of tools and experience (though I know this is different), and dont mind working on it a bit. Regardless, if I did buy it, It would get a LOT of TLC before I take it out.

So, after all of this, he said that he would sell it to me for $250! Thats it. I told him "You show me that this bike starts, and Ill show you $250 bucks".

Sorry for the long post, but now my question:

Is this a great deal or am I trippin? haha

Like I said, I dont mind a little work. But I would like to get some other peoples opinion on this, since it will be my first bike, and im on somewhat of a budget.

What do you guys think? I can post pics, if needed, before it gets dark.

 

$200 maybe. Not $450.

It's 30 years old, sitting for while, flat, won't start. It's not worth $100 as is.

How's the tires? If they are sun-checked or just plain old, you gotta replace them.

Was the gas rotten?

Any adjustment left in the chain?

Valves? Tranny? Clutch? Rotors? Pads? Brake and clutch lines? Master cylinders? Charging? Ignition?
No spark could be tiny or huge, depending on what's wrong.

It's not FI. The carb boots are likely shot if they are original. They'll leak. The bike will stall a lot at just off idle. If you need to go through the carbs, can you get a gasket kit?

Check the head bearing for slop or a bump in the span. Do the forks work? Leaking?

Jap plastic from the mid-80's wasn't great. Example: turn stalks on Nighthawk S - guaranteed to rot off 10 years ago.

Parts will be hard to find. May have to resort to ebay and the like, used parts, salvage parts, etc.

Bikes this old can be a lot of headaches and $$$ to operate. I would love to restore a CB700SC to like new condition because i just love that bike. My reason for doing it would be bikelove, not because i wanted a 1st bike to get around town.

My advice is look 15 years newer, at least. Better to get lucky on a $2500 10 year old bike you can ride and service, than sink thousands on a 30 year old bike that you still can't trust because you haven't put enough $ into it yet.

Good luck!

 

I don't mind paying 250 for it if it is in OK condition.. Any bike sitting for a while will require quite a bit of TLC and also finding the parts for a 30 year old can be a little challenge.