Is there a lawyer in the house? Class Action Lawsuit for devaluation?

Discussion in 'Victory General Discussion' started by roadbum, Jan 11, 2017.

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Would you sign up for class action lawsuit against Polaris for devaluation

  1. Yes

    32 vote(s)
    55.2%
  2. No

    26 vote(s)
    44.8%
  1. roadbum

    roadbum Member

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    If there any lawyers out there, is it possible to sue Polaris for the devaluation of the machines that we now own?
    Let's face it, Victory dealers and Polaris are going to be blowing out the remaining inventory.. obviously an awesome time to purchase. However, the people buying these are aware of the devaluation and have the necessary information to make such as decision. Polaris had this brewing for a long time, a company such as Polaris does not make spur of the moment decisions. They had to have been planning this for the last year. The new year is just a lot more convenient business wise to put this into effect. If we as owners just sit back and complain to each other, NOTHING will get done. We can pool resources and make a stink.
    Look, I still love my Victory and believe that it is a very high quality product. I am sure that many or most of us feel this way, but the fact is that our bikes are now worth a lot less. I have been through 6 Harleys and 2 Victorys now, and I loved them all. I knew that I could usually get good money on resale and that was factored into decisions. Whether or not I keep this Octane forever and ever is my decision and now there are different factors involved.
     
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  2. lou8700

    lou8700 Well-Known Member

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    Why is everyone under the assumption that their Victory is suddenly worth a lot less today than it was a week ago? Don't we need to give it some time to see how this all evolves?
     
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  3. bikendad

    bikendad Well-Known Member

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    How much time do you need to see that New Vic's are being discounted HEAVILY? News flash, that makes your used Vic worth a LOT LESS than it was worth last week. Guys just paid 23k+ for new Magnums that can now be purchased for 16k, what's a used one worth now?!
     
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  4. lou8700

    lou8700 Well-Known Member

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    Ya, You're right but let's wait and see if they rebound in the long run.
     
    Last edited: Jan 11, 2017
  5. Yago20

    Yago20 Member

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    Every time I hear this, it makes it sound like people bought these machines as an investment to make money. NEWS FLASH! Purchasing a vehicle is almost always a loss of money. As soon as you sign the paperwork, it's worth less.
    Did any of these people who bought last week at $23,000 plan on selling today for MORE money? Just ride your damn bike.
     
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  6. Teflon Mike

    Teflon Mike Well-Known Member

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    I'm with you on just riding, but I get the sentiment of being pissed at the value taking a major hit. Sure everything is great and my kids are healthy and I don't have a care in the world at the moment... but that can change in the blink of an eye and what happens if circumstances make me sell my toys? The bike is the first to go and I'll get a lot less for it. This is my feeling on it. I don't plan on selling for a long time, but I can't predict the future either..
    I mean who thought we would be in this position a couple days ago.... it's not good news any way ya slice it.
     
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  7. Daddio

    Daddio Well-Known Member

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    I'm not a lawyer, but I play one on TV; that said, you'd have a very difficult time proving that Polaris warranted the future value of your bike at the time you purchased it, or at any time hence.
     
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  8. babs

    babs Active Member

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    Is there anything on your sale paperwork, which is a contract, that has any language pertaining to assurances of value after the sale? Answer is a big nope. :) If it did, it'd be the weirdest purchase agreement ever. As it does not, this means there is no case. Every business deal is a risk. Is the bike running well? Then ride on.

    I too am still making payments a little while longer, so I'm concerned a tad financially, but ya know, if I've learned anything about anything, it's never act on emotion. That comes to stocks or investments or any decision in life. Emotion got you into this mess of owning the best US made V-twin there is, which fires you up every time you throw a leg over it. But with that emotional decision, there is a financial cost. I'm writing the bike off, in my mind.. If it's worthless in the market next week.. Big deal. It's worth a helluva lot more to me right now sitting where she is.

    Stick together. Be diligent and prudent my Victory brothers! (my new motto)
     
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  9. Bobbyd85

    Bobbyd85 Well-Known Member

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    Here's what the peeps at Coastal Indian and Vic (HOTVIC) told me today...

    "I can tell you we traded for two XC's yesterday and offered the same dollar trade that we would have offered last week. I think people will be surprised by what happens when demand exceeds supply"
     
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  10. Teflon Mike

    Teflon Mike Well-Known Member

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  11. Bobbyd85

    Bobbyd85 Well-Known Member

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    What Victory has done is within the law. IDK what you want from them. It's their business and they do what's best for them. They are required to cover 10 years and have already said they will. Sue-happy America. Consider yourself luck that you are financially able to own a motorcycle.
     
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  12. Teflon Mike

    Teflon Mike Well-Known Member

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    I do, and I'm not sue happy. I'm adding to the conversation and I absolutely would sign my info if I were to receive a class action letter in the mail if it turns out Polaris acted outside of the law...
    Which would be up to the court to decide and interpret.
     
  13. Dragonman

    Dragonman Active Member

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    Legendary Victory Cross Country & Victory X1
    I NOW OWN A LEGEND, it might be worth more money in the long run! Its now a peace of Motorcycle History. Best bike ever built in the USA, highest customer satisfaction and it was and still is one hell of a bike, I think our bikes will hold value unless all of us decide to give them away,,,, Now I'm not planing to give it away I plan to ride head high I own a Legend!!!
    We can't change the closure and we can't change the poor marketing and selling skills of management at Polaris the bike was not the problem the marketing team was and the CEO that didn't back them was the problem....
    We can control our future and our attitude Own a Legend and be proud to have one! It certainly is in my mind the best motorcycle ever built in the US of A and I'm not sorry to have 2 of them, I certain do not wish today to go ride a Harley or an Indian because Vic closed production.... I still love my machines! So Lets come up with a super cool slogan to save our attitude because we control that, and maybe we will love our Vic's even more now that they no longer exit! Hell they say Harley's a Legend well we now entered the circle of being a Legend and we are a seriously cool Legend of Powerful USA made machines!
    I'm done being down on this obsolete Vic thing, I'm moving on and I hope Vic owners will be doing the same.... maybe a brotherhood of Vic owners will turn into a real cool thing someday, I for one pledge to help all Vic's on the road that may have a problem..... you wont need a dealer just come to my house we'll fix it.... if ever break in my neighborhood while your traveling look me up!!! Come on guys lets pull together and create something that has never been done before by bike owners; Vic brotherhood, the world will wish they had purchased a Vic when they existed! lol
     
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  14. Dragonman

    Dragonman Active Member

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    Hey we need some creative here... Patches, T's, stickers, metal signs; "I OWN A LEGEND VICTORY"
     
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  15. bobzinger

    bobzinger Active Member

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    I wonder if there's a chance that Victory could be bought out and continued.
     
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