Kentucky, motorcycle stolen, help?

I am being told to offer a large reward for the return of my motorcycle, around 3K for the reward, but do I actually have to pay that much if I post it in a newspaper or flyer?

No, you don't HAVE to do anything. Someone was merely making a suggestion. I take it that your motorcycle was stolen and you did not have comprehensive coverage on your insurance policy?

No, I haven't had the bike long, got enough insurance to get it home and someone took it the first night I actually left it alone, I still owe over 9K

If I do post an award for that amount and someone actually finds it, then what? They tell me that 500.00 will not be enough to get someone to call or give up a buddy.

You financed the vehicle, and they allowed you to drive it off the lot with no comp/collison coverage? How did that happen?

If you finance through the manufacture, like in this case Kawasaki, they do not require you to carry anything more than property and liability, it gets you on the bike faster and out the door I guess.

Unfortunately, you've just been taught a $9,000 lesson on the importance of physical damage coverage. Now that $3000 reward doesn't sound so bad...

Yeah, and to think I bought the bike to save gas.

Thanks for your help!

If I found it and there was a $3000 reward, the cash would be in my hands before the bike was given back. Learned my lesson many years ago when someone offered a reward for a lost dog then stiffed me when it came time to pay up.

I would never stiff them, but I also have to consider the fact the person trying to claim the reward may be the one that stole it.

chris, did you ever get that bike back? They most likely stripped it for parts or shipped it to MEX/overseas in order to make the bike legal for sale again. Depending on the bike, its not always easy to file off a VIN # and put a fake VIN on there. All legit bike shops would never sell a vehicle that someone brought in used unless it had a valid, traceable VIN.