My first street bike was a 1979 Honda CB650. It was the quintessential UJM, and it was a perfectly fine first bike. I got it for something like $650 or $1/cc. I spent about the same amount on gear, and the bike ran fine for me for a bit over a year, and it was still going strong three or four years later. As far as I know, it is still on the road somewhere.
It cost me a whopping $50. I had to get extra coverage to get the premium up to the $50/year minimum. All of the big four made standards from the early '70s all the way through to the early '90s when they started focusing almost entirely on sportbikes or cruisers for the street. They are usually reliable as a stone if maintained, so lower mileage bikes with decent records are worth spending the time looking for. Make sure they haven't been left out to rust and fall apart, because they are old bikes, after all.
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Go soothingly on the grease mud, as there lurks the skid demon.
2006 Daytona 675 street squid bike
1999 SV650 track tool and face plant master
1991 Husky 610 bitsa, tard, dirt weapon, and oil puddle creator
1971 Norton Commando garage ornament
1973 Chevy blingin' hooptie van bike hauler
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