Buying gs500, decent deal?

[Yesimivan]

2001 GS500, 38000 miles. Same owner for the past 9 years, older guy. Has dropped it once while it was up on the kickstand, no signs of being crashed at speed. Claims it leaks a small bit of oil but is very minor. Normal scuffs and such for a 10 year old bike but no dents/rust. New back tire, new unmounted front tire, new sproket/chain. Asking around a grand.

Anything in particular I should watch out for on GS500s? Blue book price on an "excellent" model of this bike is 1600 or so. From pictures, it seems to be in great superficial shape. I'm worried about the 38k on the odomoter and the leaking oil, though.

Also, first bike.

Any advice?

Many thanks,

Thomas

 

[SquadraCorse]

I wouldn't worry too much about the oil leak or milage. That motor has been around for decades and since it's an air cooled twin parts are cheap (compared to a liquid cooled 16 valve or similar). It's also very basic so refreshing the whole thing would be relatively inexpensive and easy to do. A grand seems like a good deal especially with fresh rubber and chain and sprocket, that's about 300 bucks right there. If it's unmolested and well maintained that motor should run forever. It's a very simple machine.